TCRLA_Public/120731.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

            Tuesday, July 31, 2012, Vol. 13, No. 151


                            Headlines



A R G E N T I N A

797 SA: Creditors' Proofs of Debt Due Sept. 7
CALLAO 27: Creditors' Proofs of Debt Due Sept. 20
CERRADURAS DE PRECISION: Creditors' Proofs of Debt Due Aug. 3
CLORCHEMICAL SA: Creditors' Proofs of Debt Due Aug. 27
PEPE MORENO: Creditors' Proofs of Debt Due Sept. 6

QUALEX SA: Creditors' Proofs of Debt Due Aug. 30


B E R M U D A

BURT CONSTRUCTION: Faces Winding Up Petition


B R A Z I L

EVEN CONSTRUTORA: Fitch Affirms 'BB-' IDR; Outlook Stable


C A Y M A N   I S L A N D S

AIO-AUS II: Shareholders' Final Meeting Set for Aug. 17
AIO-AUS LTD: Shareholders' Final Meeting Set for Aug. 17
ASIA ENTERPRISE: Commences Liquidation Proceedings
ASIA ENTERPRISE I: Commences Liquidation Proceedings
BONITA IAM: Shareholders' Final Meeting Set for Sept. 28

DNTK HOLDINGS: Creditors' Proofs of Debt Due Aug. 16
GRF-AUS: Shareholders' Final Meeting Set for Aug. 17
LEOPARD IAM: Shareholders' Final Meeting Set for Sept. 28
LOTA IAM: Shareholders' Final Meeting Set for Sept. 28
MAIA IAM: Shareholders' Final Meeting Set for Sept. 28


M E X I C O

ALTOS HORNOS: Reaches Deal With Creditors to Restructure Debt
EMPRESAS ICA: Moody's Rates US$350MM Senior Unsecured Notes 'B1'


P U E R T O  R I C O

SAN JUAN BAUTISTA MEDICAL: Suit v Power Operator Goes to Trial


X X X X X X X X

* Large Companies With Insolvent Balance Sheets




                            - - - - -


=================
A R G E N T I N A
=================


797 SA: Creditors' Proofs of Debt Due Sept. 7
---------------------------------------------
Fernando G. Alvarez, the court-appointed trustee for 797 SA's
bankruptcy proceedings, will be verifying creditors' proofs of
claim until Sept. 7, 2012.

Mr. Alvarez will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 11 in Buenos Aires, with the assistance of Clerk
No. 21, 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:

         Fernando G. Alvarez
         Lavalle 648
         Argentina


CALLAO 27: Creditors' Proofs of Debt Due Sept. 20
-------------------------------------------------
Jorge Guillermo Podesta, the court-appointed trustee for Callao
27 SRL's bankruptcy proceedings, will be verifying creditors'
proofs of claim until Sept. 20, 2012.

Mr. Podesta will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 15 in Buenos Aires, with the assistance of Clerk
No. 29, 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:

         Jorge Guillermo Podesta
         Maipu 726
         Argentina


CERRADURAS DE PRECISION: Creditors' Proofs of Debt Due Aug. 3
-------------------------------------------------------------
Eva Mabel Bogado, the court-appointed trustee for Cerraduras de
Precision SA's bankruptcy proceedings, will be verifying
creditors' proofs of claim until Aug. 3, 2012.

Ms. Bogado will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 2 in Buenos Aires, with the assistance of Clerk
No. 4, 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 May 24, 2013.

The Trustee can be reached at:

         Eva Mabel Bogado
         Paraguay 1465


CLORCHEMICAL SA: Creditors' Proofs of Debt Due Aug. 27
------------------------------------------------------
Carlos Enrique Wolff, the court-appointed trustee for
Clorchemical SA's bankruptcy proceedings, will be verifying
creditors' proofs of claim until Aug. 27, 2012.

Mr. Wolff will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 19 in Buenos Aires, with the assistance of Clerk No.
38, 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:

         Carlos Enrique Wolff
         Virrey del Pino 2354
         Argentina


PEPE MORENO: Creditors' Proofs of Debt Due Sept. 6
--------------------------------------------------
Manuel Omar Mansanta, the court-appointed trustee for Pepe Moreno
SRL's bankruptcy proceedings, will be verifying creditors' proofs
of claim until Sept. 6, 2012.

Mr. Mansanta will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 3 in Buenos Aires, with the assistance of Clerk
No. 6, 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:

         Manuel Omar Mansanta
         Av. Cordoba 1367
         Argentina


QUALEX SA: Creditors' Proofs of Debt Due Aug. 30
------------------------------------------------
Estudio Oliveto, the court-appointed trustee for Qualex SA's
reorganization proceedings, will be verifying creditors' proofs
of claim until Aug. 30, 2012.

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

Creditors will vote to ratify the completed settlement plan
during the assembly on June 5, 2013.

The Trustee can be reached at:

         Estudio Oliveto
         Paparatto y Asociados
         Cuenca 1370
         Argentina



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


BURT CONSTRUCTION: Faces Winding Up Petition
--------------------------------------------
The Royal Gazette Online reports that Burt Construction Ltd is
facing a wind up petition after three decades in business due to
Bermuda's economic downturn.

A petition to wind up Burt Construction was filed with the
Supreme Court and at a hearing, creditors were urged to make
their case for any money owed, according to The Royal Gazette
Online.  The report relates that the Supreme Court made an order
to wind up Burt Construction and appoint Kenneth Krys and Patrick
McPhee as joint provisional liquidators.

The report notes that Bermuda's construction industry has been
especially hard hit, going from boom to near bust in the last
five years and Construction Association of Bermuda president
Charles Dunstan warned yesterday that it will likely get worse --
more than 550 workers in the construction industry are now
registered with the Department of Labour and Training as
unemployed.

"We have no data on how many have gone out of business, but I
know there are companies quietly discontinuing active trading,
while they seek other employment . . . .  If a job turns up, they
will try to jump back in, but that can be difficult if you've let
your crew go. There are also rumours of smaller firms merging to
form a more substantial company, while they streamline their
newly combined crews; the net effect being lost jobs," the report
quoted Mr. Dunstan as saying.

Burt Construction Ltd is a building contractor company.



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


EVEN CONSTRUTORA: Fitch Affirms 'BB-' IDR; Outlook Stable
---------------------------------------------------------
Fitch Ratings has affirmed the ratings of Even Construtora e
Incorporadora S.A. (Even) as follows:

  -- Long-term national scale at 'A(bra)';

  -- Long-term foreign currency Issuer Default Rating (IDR) at
     'BB-';

  -- Long-term local currency IDR at 'BB-';

  -- BRL100 million second debenture issuance, due October 2012
     at 'A(bra)'

  -- BRL75 million third debenture issuance, due 2013 at
     'A(bra)';

  -- BRL250 million fifth debenture issuance, due 2016 at
     'A(bra)'.

The Outlook for the corporate ratings is Stable.

Even's ratings reflect the maintenance of consistent operating
performance, its conservative credit profile and adequate
operational controls; factors that have contributed to preserve
its credit ratios within a scenario of greater challenges in the
Brazilian homebuilding sector in 2011.  The ratings also consider
the adequate liquidity -- conservatively managed by the company -
- and the debt amortization profile, with low corporate debt
maturities in 2012 and 2013, has allowed for a more sustainable
growth basis.  The classifications also take into account Even's
position as the seventh largest Brazilian real estate
construction company, with operations concentrated in Sao Paulo
(Brazil's main state in terms of GDP), and the company's project
diversification by income segment.

Fitch expects Even's operating margins to increase in 2012, once
the large majority of older projects, with lower margins, has
already been delivered, and the company reports positive
operational cash flow generation from the higher volume of
project deliveries foreseen for the year.  However, the
operational cash generation could be pressured again in 2013 by
the higher volume of project launches this year, together with a
lower volume of project deliveries.

Even faces the challenge of preserving conservative liquidity and
its debt profile, so as to avoid pressures from a higher volume
of project launches, and an environment subject to higher costs,
slower approval of projects, more selective demand, and strong
competition.  Like its competitors, the company is vulnerable to
the cyclical downturns of the real estate sector, and is highly
dependent on the domestic economy and credit availability.

Consistent Operating Results

Even reported consistent operating results in line with Fitch's
expectations.  In the last 12 months (LTM) period ended March
2012, net revenue of BRL2.0 billion showed a slight increase
compared to BRL1.956 billion in 2010, and in contrast with the
strong net revenue growth over the previous three fiscal years.
The adjusted EBITDA of BRL375 million and the adjusted EBITDA
margin of 18.8% in the LTM ended 2012, negatively compares with
the 21.0% reported in 2010.  This reduction was a result of
higher project cost pressures suffered by all the sector
companies, as well as a lower dilution of the company's operating
expenses.  Even so, this ratio remained above the sector average.

Fitch expects Even's margins to increase in 2012. The company
launched BRL2.1 billion of potential sales value (PSV) in 2011,
compared to BRL1.5 billion in 2010.  In the first half of 2012,
the company launched BRL702 million of PSV and plans to launch
BRL2.5 billion by the end of 2012.  The company has been
successful in preserving a ratio pre-sales/supply ratio (SoS)
above the sector average. In 2011, the average quarterly SoS was
29%.  In the first and second quarters of 2012, this ratio was
28% and 21%, respectively.  The company also achieved a relevant
reduction of the inventory of concluded units to 8% of the total
inventory at end March 2012, compared to 14% at end March 2011.

Comfortable Liquidity Position; Manageable Debt

Even counts on sufficient liquidity to sustain its expansion
plans.  At end March 2012, the total cash and equivalents were
BRL498 million, and the total adjusted debt BRL1.4 billion, of
which BRL578 million was short term.  Even's liquidity remains
comfortable since 69% of its short-term debt is related to
financings from the Housing Financial System (SFH).  This debt is
guaranteed by specific receivables from units sold and under
construction, and will be liquidated by the time of the delivery
of the units, through the transfer of the receivables to SFH
creditor banks.

The company's liquidity position is strengthened by BRL226
million of receivables of concluded units not linked to debt at
end March 2012.  Even's financial strategy to preserve a relevant
liquidity is positive and should allow the company to manage an
estimated PSV of BRL2.5 billion of project launches in 2012.

Adequate Capital Structure

Even has preserved an adequate capital structure which has
assured support for the continuity of new project launches.  The
SFH credit lines, as a percentage of the total debt, represent
more than half of the total debt since 2010, and at end March
2012, they represented 54% of the total adjusted debt.  The
company's strategy has focused in residential projects with unit
prices of up to BRL500,000, which make them eligible for SFH
homebuyer financing.  In the LTM period ended March 2012, the
total adjusted debt/EBITDA ratio was of 3.8 times (x), while the
ratio net debt/EBITDA was of 2.5x. Fitch does not expect an
increase of the company's corporate debt over the next two years
and leverage should remain near the current levels.

High Project Deliveries Benefits Cash Flow From Operations in
2012

Even's Cash flow from operations (CFFO) should benefit from the
increased volume of deliveries of projects and transfer of
homebuyer receivables to banks foreseen for 2012.  The company
plans to deliver a total PSV of BRL1.8 billion in 2012, against
BRL1.3 billion in 2011 and BRL900 million in 2010.  During the
LTM ended March 2012, Even generated BRL311 million of funds from
operations (FFO), and the CFFO was a negative BRL81 million.
These figures compare with a BRL404 million FFO and negative
BRL265 million CFFO in 2010.  Fitch expects a positive CFFO in
2012; however, in 2012, the free cash flow (FCF) was a negative
BRL158 million, after a BRL60 million dividend distribution.

As of March 2012, Even recorded a landbank with a PSV of BRL5.0
billion. This covers about two years of project launches.  The
company's strategy is to have a quick landbank turnover and
continue to making new investments in landbank so as to support
its business expansion.

Key Rating Drivers

Positive rating actions could be driven by relevant and
consistent positive free cash flow and leverage reduction,
combined with maintenance of strong liquidity.  The ratings could
be negatively affected by the combination of weakening of
operating margins; liquidity reduction; and leverage increase.
Unstable macroeconomic environment, negatively impacting the real
estate sector and the company's fundamentals, could also lead to
negative rating actions.



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


AIO-AUS II: Shareholders' Final Meeting Set for Aug. 17
-------------------------------------------------------
The shareholders of AIO-AUS II, Ltd. will hold their final
meeting on Aug. 17, 2012, at 8:45 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Walkers Corporate Services Limited
         Walker House, 87 Mary Street, George Town
         Grand Cayman KY1-9002
         Cayman Islands
         c/o Jennifer Chailler
         Telephone: (345) 814 6847


AIO-AUS LTD: Shareholders' Final Meeting Set for Aug. 17
--------------------------------------------------------
The shareholders of AIO-AUS, Ltd. will hold their final meeting
on Aug. 17, 2012, at 8:30 a.m., to receive the liquidator's
report on the company's wind-up proceedings and property
disposal.

The company's liquidator is:

         Walkers Corporate Services Limited
         Walker House, 87 Mary Street, George Town
         Grand Cayman KY1-9002
         Cayman Islands
         c/o Jennifer Chailler
         Telephone: (345) 814 6847


ASIA ENTERPRISE: Commences Liquidation Proceedings
--------------------------------------------------
On June 21, 2012, the members of Asia Enterprise Limited resolved
to voluntarily liquidate the company's business.

Creditors are required to file their proofs of debt to be
included in the company's dividend distribution.

The company's liquidator is:

         Cititrust (Bahamas) Limited
         c/o Schell Stubb
         Telephone: (242) 302-8714
         Cititurst (Cayman) Limited
         P.O. Box 1170 Grand Cayman KY1-1102
         Cayman Islands


ASIA ENTERPRISE I: Commences Liquidation Proceedings
----------------------------------------------------
On June 21, 2012, the members of Asia Enterprise I Limited
resolved to voluntarily liquidate the company's business.

Creditors are required to file their proofs of debt to be
included in the company's dividend distribution.

The company's liquidator is:

         Cititrust (Bahamas) Limited
         c/o Schell Stubb
         Telephone: (242) 302-8714
         Cititurst (Cayman) Limited
         P.O. Box 1170 Grand Cayman KY1-1102
         Cayman Islands


BONITA IAM: Shareholders' Final Meeting Set for Sept. 28
--------------------------------------------------------
The shareholders of Bonita IAM Limited will hold their final
meeting on Sept. 28, 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:

         Westport Services Ltd.
         c/o Bonnie Willkom
         Telephone: (345) 949 5122
         Facsimile: (345) 949 7920
         P.O. Box 1111 Grand Cayman KY1-1102
         Cayman Islands


DNTK HOLDINGS: Creditors' Proofs of Debt Due Aug. 16
----------------------------------------------------
The creditors of DNTK Holdings Inc are required to file their
proofs of debt by Aug. 16, 2012, to be included in the company's
dividend distribution.

The company's liquidator is:

         Annie Chapman
         69 Dr. Roy's Drive
         PO Box 1043, George Town
         Grand Cayman KY1-1102
         Cayman Islands


GRF-AUS: Shareholders' Final Meeting Set for Aug. 17
----------------------------------------------------
The shareholders of GRF-AUS, Ltd. will hold their final meeting
on Aug. 17, 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:

         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


LEOPARD IAM: Shareholders' Final Meeting Set for Sept. 28
---------------------------------------------------------
The shareholders of Leopard IAM Limited will hold their final
meeting on Sept. 28, 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:

         Westport Services Ltd.
         c/o Bonnie Willkom
         Telephone: (345) 949 5122
         Facsimile: (345) 949 7920
         P.O. Box 1111 Grand Cayman KY1-1102
         Cayman Islands


LOTA IAM: Shareholders' Final Meeting Set for Sept. 28
------------------------------------------------------
The shareholders of Lota IAM Limited will hold their final
meeting on Sept. 28, 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:

         Westport Services Ltd.
         c/o Bonnie Willkom
         Telephone: (345) 949 5122
         Facsimile: (345) 949 7920
         P.O. Box 1111 Grand Cayman KY1-1102
         Cayman Islands


MAIA IAM: Shareholders' Final Meeting Set for Sept. 28
------------------------------------------------------
The shareholders of MAIA IAM Limited will hold their final
meeting on Sept. 28, 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:

         Westport Services Ltd.
         c/o Bonnie Willkom
         Telephone: (345) 949 5122
         Facsimile: (345) 949 7920
         P.O. Box 1111 Grand Cayman KY1-1102
         Cayman Islands



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


ALTOS HORNOS: Reaches Deal With Creditors to Restructure Debt
-------------------------------------------------------------
Brendan Case at Bloomberg News reports that Altos Hornos de
Mexico SA has reached a debt-restructuring agreement with most of
its creditors.

"The understanding establishes the payment -- after three years
-- of 100% of the debt in the terms contemplated be the
suspension of payments law followed by the company," Ahmsa said
in a Mexican stock exchange statement obtained by the news
agency.

Francisco Orduna, a spokesman for Ahmsa, declined to provide
additional details on the agreement until it has been submitted
to a judge, Bloomberg News notes.

Altos Hornos de Mexico SAB de CV ("AHMSA") --
http://www.ahmsa.com/-- is a Mexico-based company active in the
steel sector.  The Company specializes in the production of basic
raw materials and finished products.  The company's product
portfolio includes cold-rolled steel, used for door panels and
windows; hot- rolled flat products such as pressure vessel steel,
structural steel, pipeline and drilling pipe steel, used for
machinery parts, agricultural tools, railroad tanks and bridge
constructions; and structural shapes, used in the manufacturing
industry.  AHMSA operates several coal and iron mines.  It is a
subsidiary of Grupo Acerero del Norte SA de CV. The Company's
subsidiaries include Minera Carbonifera Rio Escondido SA de CV,
Minera del Norte SA de CV and Minerales Monclova SA de CV.


EMPRESAS ICA: Moody's Rates US$350MM Senior Unsecured Notes 'B1'
----------------------------------------------------------------
Moody's Investors Service assigned a B1 rating to the US$350
million guaranteed senior unsecured notes due in 2017 issued by
Empresas ICA, S.A.B. de C.V. (ICA), and unconditionally and
irrevocably guaranteed by CICASA (Constructoras ICA), CONOISA
(Controladora de Operaciones de Infraestructuras) and CONEVISA
(Controladora de Empresas de Vivienda), the principal operating
subsidiaries of ICA. Joint ventures and project companies do not
guarantee the notes. The net proceeds from the issuance will be
primarily used to repay short term debt. The rating outlook is
stable.

Ratings affected:

- 8.375% US$350 million in guaranteed senior unsecured notes due
   2017: B1 assigned

- Outlook: Stable

The date of the last Credit Rating Action was 20/12/2011.

Ratings Rationale

ICA's B1 ratings are based on its aggressive expansion of its
concession business; high leverage; small revenue size as
compared to its global peers; and limited global geographic
diversity. Supporting ICA's ratings are its leading position in
the construction industry in Mexico; its long-term track record
of participating in the largest construction and infrastructure
projects in Mexico as well as the company's diversified and solid
portfolio of concessions in the road, airport and water treatment
sectors, among others, most of which have solid margins and
favorable earnings prospects.

ICA's liquidity profile is supported by the company's solid
banking relationships; anticipated periodic payments for the La
Yesca project; and expectations of continued renewal of ICA's
credit lines. However, with the upcoming repayment of the debt
related to La Yesca during the second half of 2012, in the amount
of about US$1 billion, the company's liquidity risk will
increase. To some extent, the new US$350 million notes will
reduce that risk, as net proceeds will be used to repay short
term debt mainly related to working capital needs at the
construction segment. The company's liquidity is significantly
influenced by working capital swings related to the construction
business. The US$350 million global notes along with the existing
US$500 million global notes due 2021 comprise 100% of total debt
at the holding/issuer level and 19% of the consolidated debt,
which includes the small amounts of debt at the joint ventures.

The stable outlook on the ratings is based on Moody's expectation
that ICA will be successful in maintaining its market share in
the construction and concession businesses; the concession
business in particular should provide stable earnings
contributions. Moody's does anticipate, however, that the
construction business revenue growth and margin may decline in
2012 due to lower government spending, typical during a
presidential election year. The stable outlook also assumes that
the company's leverage will not change significantly over the
next couple of years and the company will maintain an adequate
liquidity profile.

ICA's ratings could be upgraded if the company's maturing
concession portfolio either increase dividends to ICA or can be
monetized via asset sales, with the proceeds used for debt
reduction. In this regard, the ratings could be positively
affected if the company manages to reduce its Moody's-adjusted
leverage to around 5 times on a sustained basis, while
maintaining positive revenue growth and stable margins.

Conversely, ICA's ratings could be downgraded if the company's
liquidity position worsens with limited prospects for a short-
term improvement; if revenue growth or margins are affected by an
increasingly competitive business environment; if debt leverage
increases further and is not reduced by year end 2012 or early
2013; or if it becomes difficult for the company to renew its
revolver credit lines, which today fund its working capital
needs.

Before the action, the last action on ICA was on December 20,
2011 when Moody's downgraded ICA's Corporate Family and the
senior unsecured ratings on the company's USD500 million in
global notes to B1 from Ba3.

The principal methodology used in rating Empresa was the Global
Construction Industry Methodology published in November 2010.

Headquartered in Mexico City, ICA is the largest engineering,
procurement and construction company in Mexico and the largest
provider of construction services to both public and private-
sector clients. In the last twelve months ended in March 31,
2012, ICA's revenue and Moody's adjusted EBITDA margin were about
USD3.4 billion and 13.2% respectively.



====================
P U E R T O  R I C O
====================


SAN JUAN BAUTISTA MEDICAL: Suit v Power Operator Goes to Trial
--------------------------------------------------------------
In the lawsuit, San Juan Bautista Medical Center, Corp.,
Plaintiff, v. Puerto Rico Electric Power Authority, Defendant,
Adv. Proc. No. 11-100 (Bankr. D.P.R.), Bankruptcy Judge Brian K.
Tester denied the defendant's motion requesting reconsideration
of the Court's June 1, 2012 order denying a motion for summary
judgment.

On April 26, 2011, San Juan Bautista Medical Center filed a
complaint against the Puerto Rico Electric Power Authority for
declaratory judgment under 28 U.S.C. Sec. 2201, and injunctive
relief under 11 U.S.C. Sec. 362 and 11 U.S.C. Sec. 105.  The
Defendant, the Plaintiff and Intervenor: Escuela de Medicina San
Juan Bautista filed simultaneous Motions for Summary Judgment.
The Plaintiff filed a statement on supplemental briefing beyond
the simultaneous Motions for Summary Judgment already filed, and
the Defendant filed an Opposition to the Debtor's Motion for
Summary Judgment and Memorandum of Law in support thereof.  The
motions for summary judgment were denied.  The court found there
was a disputed material fact that exists for trial.
Specifically, whether the funds consigned in the amount of
$400,000 by the San Juan Bautista School of Medicine with the
Caguas Court of First Instance are property of the estate.

The Defendant argues in its motion for reconsideration that there
is no material fact in dispute with respect to the funds
consigned in the amount of $400,000 by the San Juan Bautista
School of Medicine with the Caguas Court of First Instance.  The
Defendant alleges the funds were not part of the estate because
the funds were consigned with the court by a party different from
the Plaintiff, who has not filed for bankruptcy, and was not
protected by the automatic stay at the time of the consignation.
The Defendant also argues in the alternative that if Article 1134
of the Puerto Rico Civil Code was applicable to the factual
events in this case, the Plaintiff would have been able to
withdraw the funds consigned and returned them to the estate,
which the Plaintiff made no effort to do.

Both of these theories were previously proffered and rejected by
the court.  According to Judge Tester, because the Defendant
fails to establish any of the factors required, the court finds
that the Defendant is not entitled to reconsideration.

A copy of the Court's July 26, 2012 Opinion and Order is
available at http://is.gd/9zxS67from Leagle.com.

              About San Juan Bautista Medical Center

San Juan Bautista Medical Center Corp., which operates a namesake
190-bed hospital in Caguas, Puerto Rico, filed for Chapter 11
bankruptcy (Bankr. D.P.R. Case No. 11-02270) on March 18, 2011.
San Juan Bautista was part of the government's plan to start a
medicalization program for drug addicts.  The hospital has 150
beds for patients with physical ailments and 40 beds for mental-
health patients.

At the time of its bankruptcy filing, the medical facility was
trying to stop Puerto Rico Electric Power Authority from cutting
off electricity to the Debtor's San Juan Bautista School of
Medicine.

Carmen D. Conde Torres, Esq., at C. Conde & Associates, serves as
the Debtor's counsel.  In its petition, the facility listed under
$50,000 in assets and under $50 million in debts.  The petition
was signed by Lymari Colon, president of governing board.



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


* Large Companies With Insolvent Balance Sheets
-----------------------------------------------

                                                            Total
                                      Total          Shareholders
                                        Assets             Equity
Company              Ticker            (US$MM)           (US$MM)
-------              ------          ---------       -----------
-

ARGENTINA

IMPSAT FIBER-$US      IMPTD AR           535007008      -17164978
IMPSAT FIBER NET      330902Q GR         535007008      -17164978
IMPSAT FIBER-CED      IMPT AR            535007008      -17164978
IMPSAT FIBER-C/E      IMPTC AR           535007008      -17164978
IMPSAT FIBER NET      IMPTQ US           535007008      -17164978
IMPSAT FIBER-BLK      IMPTB AR           535007008      -17164978
IMPSAT FIBER NET      XIMPT SM           535007008      -17164978
SOC COMERCIAL PL      CADN SW          231024530.5     -308335991
SOC COMERCIAL PL      COME AR          231024530.5     -308335991
SOC COMERCIAL PL      CVVIF US         231024530.5     -308335991
SOC COMERCIAL PL      COMED AR         231024530.5     -308335991
SOC COMERCIAL PL      CADN EU          231024530.5     -308335991
SOC COMERCIAL PL      CAD IX           231024530.5     -308335991
COMERCIAL PLA-BL      COMEB AR         231024530.5     -308335991
SOC COMERCIAL PL      SCDPF US         231024530.5     -308335991
SOC COMERCIAL PL      COMEC AR         231024530.5     -308335991
COMERCIAL PL-ADR      SCPDS LI         231024530.5     -308335991
SOC COMERCIAL PL      CADN EO          231024530.5     -308335991
SNIAFA SA-B           SNIA5 AR         11229696.22    -2670544.88
SNIAFA SA-B           SDAGF US         11229696.22    -2670544.88
SNIAFA SA             SNIA AR          11229696.22    -2670544.88


BRAZIL

CELGPAR               GPAR3 BZ          2639764737     -675967203
PORTX OPERA-GDR       PXTPY US          1025101052    -3076374.61
PORTX OPERACOES       PRTX3 BZ          1025101052    -3076374.61
VARIG SA-PREF         VAGV4 BZ           966298048    -4695211008
VARIG SA-PREF         VARGPN BZ          966298048    -4695211008
VARIG SA              VARGON BZ          966298048    -4695211008
VARIG SA              VAGV3 BZ           966298048    -4695211008
LUPATECH SA-RT        LUPA11 BZ        815799477.6    -65082852.9
LUPATECH SA-ADR       LUPAY US         815799477.6    -65082852.9
LUPATECH SA           LUPAF US         815799477.6    -65082852.9
LUPATECH SA -RCT      LUPA9 BZ         815799477.6    -65082852.9
LUPATECH SA-RTS       LUPA1 BZ         815799477.6    -65082852.9
LUPATECH SA           LUPA3 BZ         815799477.6    -65082852.9
AGRENCO LTD-BDR       AGEN11 BZ          637647275     -312199404
AGRENCO LTD           AGRE LX            637647275     -312199404
PARMALAT              LCSA3 BZ           388720096     -213641152
PARMALAT-PREF         LCSA4 BZ           388720096     -213641152
PARMALAT BR-RT P      LCSA6 BZ           388720096     -213641152
PARMALAT BR-RT C      LCSA5 BZ           388720096     -213641152
PARMALAT BRAS-PF      LCSAPN BZ          388720096     -213641152
PARMALAT BRASIL       LCSAON BZ          388720096     -213641152
BOMBRIL CIRIO-PF      BOBRPN BZ        381113282.6    -25127292.3
BOMBRIL SA-ADR        BMBBY US         381113282.6    -25127292.3
BOMBRIL-RIGHTS        BOBR1 BZ         381113282.6    -25127292.3
BOMBRIL CIRIO SA      BOBRON BZ        381113282.6    -25127292.3
BOMBRIL SA-ADR        BMBPY US         381113282.6    -25127292.3
BOMBRIL               BMBBF US         381113282.6    -25127292.3
BOMBRIL-PREF          BOBR4 BZ         381113282.6    -25127292.3
BOMBRIL-RGTS PRE      BOBR2 BZ         381113282.6    -25127292.3
BOMBRIL               BOBR3 BZ         381113282.6    -25127292.3
CIA PETROLIFERA       MRLM3B BZ        377602195.2    -3014291.72
CIA PETROLIFERA       1CPMON BZ        377602195.2    -3014291.72
CIA PETROLIF-PRF      MRLM4 BZ         377602195.2    -3014291.72
CIA PETROLIFERA       MRLM3 BZ         377602195.2    -3014291.72
CIA PETROLIF-PRF      MRLM4B BZ        377602195.2    -3014291.72
CIA PETROLIF-PRF      1CPMPN BZ        377602195.2    -3014291.72
TEKA                  TKTQF US         332104715.8     -455378043
TEKA                  TEKAON BZ        332104715.8     -455378043
TEKA-ADR              TEKAY US         332104715.8     -455378043
TEKA-PREF             TEKA4 BZ         332104715.8     -455378043
TEKA-RCT              TEKA9 BZ         332104715.8     -455378043
TEKA-PREF             TEKAPN BZ        332104715.8     -455378043
TEKA-RTS              TEKA2 BZ         332104715.8     -455378043
TEKA-ADR              TKTQY US         332104715.8     -455378043
TEKA-RTS              TEKA1 BZ         332104715.8     -455378043
TEKA-ADR              TKTPY US         332104715.8     -455378043
TEKA                  TEKA3 BZ         332104715.8     -455378043
TEKA-RCT              TEKA10 BZ        332104715.8     -455378043
TEKA-PREF             TKTPF US         332104715.8     -455378043
PET MANG-RECEIPT      0229296Q BZ      323293708.4     -112268877
PETRO MANGUINHOS      MANGON BZ        323293708.4     -112268877
PET MANG-RT           RPMG1 BZ         323293708.4     -112268877
PET MANG-RECEIPT      RPMG10 BZ        323293708.4     -112268877
PET MANG-RIGHTS       3678565Q BZ      323293708.4     -112268877
PET MANG-RECEIPT      RPMG9 BZ         323293708.4     -112268877
PETRO MANGUIN-PF      MANGPN BZ        323293708.4     -112268877
PET MANG-RT           4115360Q BZ      323293708.4     -112268877
PET MANG-RECEIPT      0229292Q BZ      323293708.4     -112268877
PET MANG-RT           0229268Q BZ      323293708.4     -112268877
PET MANG-RT           4115364Q BZ      323293708.4     -112268877
PET MANG-RT           RPMG2 BZ         323293708.4     -112268877
PET MANG-RT           0229249Q BZ      323293708.4     -112268877
PET MANG-RIGHTS       3678569Q BZ      323293708.4     -112268877
PET MANGUINH-PRF      RPMG4 BZ         323293708.4     -112268877
PETRO MANGUINHOS      RPMG3 BZ         323293708.4     -112268877
BATTISTELLA           BTTL3 BZ         291826534.8    -29594537.2
BATTISTELLA-RECP      BTTL10 BZ        291826534.8    -29594537.2
BATTISTELLA-RECE      BTTL9 BZ         291826534.8    -29594537.2
BATTISTELLA-RI P      BTTL2 BZ         291826534.8    -29594537.2
BATTISTELLA-RIGH      BTTL1 BZ         291826534.8    -29594537.2
BATTISTELLA-PREF      BTTL4 BZ         291826534.8    -29594537.2
HOTEIS OTHON SA       HOTHON BZ        288171869.8    -77685728.7
HOTEIS OTHON-PRF      HOOT4 BZ         288171869.8    -77685728.7
HOTEIS OTHON-PRF      HOTHPN BZ        288171869.8    -77685728.7
HOTEIS OTHON SA       HOOT3 BZ         288171869.8    -77685728.7
DOCAS SA-PREF         DOCAPN BZ        272567786.7     -202595760
DOCA INVESTIMENT      DOCA3 BZ         272567786.7     -202595760
DOCA INVESTI-PFD      DOCA4 BZ         272567786.7     -202595760
DOCAS SA              DOCAON BZ        272567786.7     -202595760
DOCAS SA-RTS PRF      DOCA2 BZ         272567786.7     -202595760
SANSUY-PREF B         SNSY6 BZ           190512467     -137678051
SANSUY SA-PREF A      SNSYAN BZ          190512467     -137678051
SANSUY-PREF A         SNSY5 BZ           190512467     -137678051
SANSUY SA             SNSYON BZ          190512467     -137678051
SANSUY                SNSY3 BZ           190512467     -137678051
SANSUY SA-PREF B      SNSYBN BZ          190512467     -137678051
CAFE BRASILIA-PR      CSBRPN BZ        160938139.9     -149281089
CAF BRASILIA-PRF      CAFE4 BZ         160938139.9     -149281089
CAF BRASILIA          CAFE3 BZ         160938139.9     -149281089
CAFE BRASILIA SA      CSBRON BZ        160938139.9     -149281089
BALADARE              BLDR3 BZ         159454015.9    -52992212.8
DHB IND E COM-PR      DHBPN BZ         151002419.5     -118054988
D H B-PREF            DHBI4 BZ         151002419.5     -118054988
D H B                 DHBI3 BZ         151002419.5     -118054988
DHB IND E COM         DHBON BZ         151002419.5     -118054988
TEXTEIS RENA-RCT      TXRX9 BZ         136405144.3    -72823992.4
TEXTEIS RENAUX        RENXON BZ        136405144.3    -72823992.4
RENAUXVIEW SA-PF      TXRX4 BZ         136405144.3    -72823992.4
TEXTEIS RENAU-RT      TXRX1 BZ         136405144.3    -72823992.4
TEXTEIS RENAUX        RENXPN BZ        136405144.3    -72823992.4
TEXTEIS RENA-RCT      TXRX10 BZ        136405144.3    -72823992.4
TEXTEIS RENAU-RT      TXRX2 BZ         136405144.3    -72823992.4
RENAUXVIEW SA         TXRX3 BZ         136405144.3    -72823992.4
BUETTNER SA-PRF       BUETPN BZ        114336116.2    -25308352.3
BUETTNER SA-RTS       BUET1 BZ         114336116.2    -25308352.3
BUETTNER              BUET3 BZ         114336116.2    -25308352.3
BUETTNER SA           BUETON BZ        114336116.2    -25308352.3
BUETTNER-PREF         BUET4 BZ         114336116.2    -25308352.3
BUETTNER SA-RT P      BUET2 BZ         114336116.2    -25308352.3
RIMET-PREF            REEM4 BZ         112551851.9     -196235615
RIMET-PREF            REEMPN BZ        112551851.9     -196235615
RIMET                 REEMON BZ        112551851.9     -196235615
RIMET                 REEM3 BZ         112551851.9     -196235615
WETZEL SA             MWET3 BZ         105473506.2    -3423680.68
WETZEL SA-PREF        MWET4 BZ         105473506.2    -3423680.68
WETZEL SA-PREF        MWELPN BZ        105473506.2    -3423680.68
WETZEL SA             MWELON BZ        105473506.2    -3423680.68
COBRASMA SA           COBRON BZ         94105674.9    -2240770420
COBRASMA-PREF         CBMA4 BZ          94105674.9    -2240770420
COBRASMA              CBMA3 BZ          94105674.9    -2240770420
COBRASMA SA-PREF      COBRPN BZ         94105674.9    -2240770420
VARIG PART EM-PR      VPSC4 BZ         83017828.56     -495721700
VARIG PART EM SE      VPSC3 BZ         83017828.56     -495721700
FABRICA RENAUX-P      FRNXPN BZ         78479539.9    -67506773.4
FABRICA RENAUX        FTRX3 BZ          78479539.9    -67506773.4
FABRICA TECID-RT      FTRX1 BZ          78479539.9    -67506773.4
FABRICA RENAUX-P      FTRX4 BZ          78479539.9    -67506773.4
FABRICA RENAUX        FRNXON BZ         78479539.9    -67506773.4
ESTRELA SA-PREF       ESTRPN BZ         77832771.4     -110076267
ESTRELA SA-PREF       ESTR4 BZ          77832771.4     -110076267
ESTRELA SA            ESTR3 BZ          77832771.4     -110076267
ESTRELA SA            ESTRON BZ         77832771.4     -110076267
GRADIENTE ELETR       IGBON BZ         69132281.21     -253174445
GRADIENTE-PREF C      IGBR7 BZ         69132281.21     -253174445
GRADIENTE-PREF A      IGBR5 BZ         69132281.21     -253174445
IGB ELETRONICA        IGBR3 BZ         69132281.21     -253174445
GRADIENTE-PREF B      IGBR6 BZ         69132281.21     -253174445
GRADIENTE EL-PRC      IGBCN BZ         69132281.21     -253174445
GRADIENTE EL-PRB      IGBBN BZ         69132281.21     -253174445
GRADIENTE EL-PRA      IGBAN BZ         69132281.21     -253174445
SCHLOSSER SA          SCHON BZ         63039069.14      -50573360
SCHLOSSER             SCLO3 BZ         63039069.14      -50573360
SCHLOSSER SA-PRF      SCHPN BZ         63039069.14      -50573360
SCHLOSSER-PREF        SCLO4 BZ         63039069.14      -50573360
VARIG PART EM TR      VPTA3 BZ         49432124.18     -399290396
VARIG PART EM-PR      VPTA4 BZ         49432124.18     -399290396
CIMOB PARTIC SA       GAFON BZ          44047411.7    -45669963.6
CIMOB PART-PREF       GAFP4 BZ          44047411.7    -45669963.6
CIMOB PART-PREF       GAFPN BZ          44047411.7    -45669963.6
CIMOB PARTIC SA       GAFP3 BZ          44047411.7    -45669963.6
RECRUSUL - RT         0163579D BZ       43284321.9    -27789423.5
RECRUSUL - RT         4529781Q BZ       43284321.9    -27789423.5
RECRUSUL              RCSL3 BZ          43284321.9    -27789423.5
RECRUSUL - RT         4529785Q BZ       43284321.9    -27789423.5
RECRUSUL-BON RT       RCSL12 BZ         43284321.9    -27789423.5
RECRUSUL - RCT        0163582D BZ       43284321.9    -27789423.5
RECRUSUL - RT         RCSL1 BZ          43284321.9    -27789423.5
RECRUSUL SA           RESLON BZ         43284321.9    -27789423.5
RECRUSUL - RCT        RCSL10 BZ         43284321.9    -27789423.5
RECRUSUL - RCT        RCSL9 BZ          43284321.9    -27789423.5
RECRUSUL-PREF         RCSL4 BZ          43284321.9    -27789423.5
RECRUSUL-BON RT       RCSL11 BZ         43284321.9    -27789423.5
RECRUSUL - RT         RCSL2 BZ          43284321.9    -27789423.5
RECRUSUL SA-PREF      RESLPN BZ         43284321.9    -27789423.5
RECRUSUL - RCT        0163583D BZ       43284321.9    -27789423.5
RECRUSUL - RT         0163580D BZ       43284321.9    -27789423.5
RECRUSUL - RCT        4529793Q BZ       43284321.9    -27789423.5
RECRUSUL - RCT        4529789Q BZ       43284321.9    -27789423.5
WIEST SA              WISAON BZ        34108201.43     -126997429
WIEST-PREF            WISA4 BZ         34108201.43     -126997429
WIEST                 WISA3 BZ         34108201.43     -126997429
WIEST SA-PREF         WISAPN BZ        34108201.43     -126997429
SANESALTO             SNST3 BZ          31802628.1    -2924062.87
CONST BETER SA        1COBON BZ        31374373.74    -1555470.16
CONST BETER SA        1007Q BZ         31374373.74    -1555470.16
CONST BETER-PF B      COBE6 BZ         31374373.74    -1555470.16
CONST BETER-PR A      1008Q BZ         31374373.74    -1555470.16
CONST BETER SA        COBE3B BZ        31374373.74    -1555470.16
CONST BETER SA        COBEON BZ        31374373.74    -1555470.16
CONST BETER-PR B      COBEBN BZ        31374373.74    -1555470.16
CONST BETER-PF B      COBE6B BZ        31374373.74    -1555470.16
CONST BETER-PR A      COBEAN BZ        31374373.74    -1555470.16
CONST BETER-PFA       COBE5B BZ        31374373.74    -1555470.16
CONST BETER-PF A      COBE5 BZ         31374373.74    -1555470.16
CONST BETER-PR B      1009Q BZ         31374373.74    -1555470.16
CONST BETER-PF B      1COBBN BZ        31374373.74    -1555470.16
CONST BETER-PF A      1COBAN BZ        31374373.74    -1555470.16
CONST BETER SA        COBE3 BZ         31374373.74    -1555470.16
BOTUCATU-PREF         STRP4 BZ         27663604.95    -7174512.03
STAROUP SA            STARON BZ        27663604.95    -7174512.03
BOTUCATU TEXTIL       STRP3 BZ         27663604.95    -7174512.03
STAROUP SA-PREF       STARPN BZ        27663604.95    -7174512.03
STEEL - RCT ORD       STLB9 BZ         27168332.71    -942060.853
ALL ORE MINERACA      STLB3 BZ         27168332.71    -942060.853
ALL ORE MINERACA      AORE3 BZ         27168332.71    -942060.853
STEEL - RT            STLB1 BZ         27168332.71    -942060.853
NUTRIPLANT            NUTR3M BZ        24748712.23    -500384.099
SAUIPE-PREF           PSEG4 BZ         24470538.18    -213980.042
SAUIPE SA             PSEGON BZ        24470538.18    -213980.042
SAUIPE SA-PREF        PSEGPN BZ        24470538.18    -213980.042
SAUIPE                PSEG3 BZ         24470538.18    -213980.042
NOVA AMERICA-PRF      1NOVPN BZ           21287489     -183535527
NOVA AMERICA-PRF      NOVAPN BZ           21287489     -183535527
NOVA AMERICA SA       NOVAON BZ           21287489     -183535527
NOVA AMERICA SA       NOVA3B BZ           21287489     -183535527
NOVA AMERICA SA       1NOVON BZ           21287489     -183535527
NOVA AMERICA-PRF      NOVA4B BZ           21287489     -183535527
NOVA AMERICA-PRF      NOVA4 BZ            21287489     -183535527
NOVA AMERICA SA       NOVA3 BZ            21287489     -183535527
BOMBRIL HOLDING       FPXE3 BZ         19416015.78     -489914902
BOMBRIL               FPXE4 BZ         19416015.78     -489914902
FERRAGENS HAGA        HAGAON BZ        19097885.26    -54511171.5
FER HAGA-PREF         HAGA4 BZ         19097885.26    -54511171.5
HAGA                  HAGA3 BZ         19097885.26    -54511171.5
FERRAGENS HAGA-P      HAGAPN BZ        19097885.26    -54511171.5
B&D FOOD CORP         BDFCE US            14423532       -3506007
B&D FOOD CORP         BDFC US             14423532       -3506007
REII INC              REIC US             14423532       -3506007
LATTENO FOOD COR      LATF US             14423532       -3506007
NORDON METAL          NORDON BZ        13825854.07    -32802043.2
NORDON MET-RTS        NORD1 BZ         13825854.07    -32802043.2
NORDON MET            NORD3 BZ         13825854.07    -32802043.2
CONST A LINDEN        LINDON BZ        13567432.02    -4206628.17
CONST LINDEN RCT      CALI10 BZ        13567432.02    -4206628.17
CONST A LIND-PRF      LINDPN BZ        13567432.02    -4206628.17
CONST LINDEN RT       CALI2 BZ         13567432.02    -4206628.17
CONST A LINDEN        CALI3 BZ         13567432.02    -4206628.17
CONST A LIND-PRF      CALI4 BZ         13567432.02    -4206628.17
CONST LINDEN RT       CALI1 BZ         13567432.02    -4206628.17
CONST LINDEN RCT      CALI9 BZ         13567432.02    -4206628.17
ARTHUR LANGE-PRF      ARLA4 BZ         11642255.92    -17154461.9
ARTHUR LANG-RC C      ARLA9 BZ         11642255.92    -17154461.9
ARTHUR LANG-RT C      ARLA1 BZ         11642255.92    -17154461.9
ARTHUR LANGE SA       ALICON BZ        11642255.92    -17154461.9
ARTHUR LAN-DVD C      ARLA11 BZ        11642255.92    -17154461.9
ARTHUR LANG-RT P      ARLA2 BZ         11642255.92    -17154461.9
ARTHUR LANGE-PRF      ALICPN BZ        11642255.92    -17154461.9
ARTHUR LAN-DVD P      ARLA12 BZ        11642255.92    -17154461.9
ARTHUR LANG-RC P      ARLA10 BZ        11642255.92    -17154461.9
ARTHUR LANGE          ARLA3 BZ         11642255.92    -17154461.9
CHIARELLI SA          CCHON BZ         11281940.72    -81454622.1
CHIARELLI SA-PRF      CCHPN BZ         11281940.72    -81454622.1
CHIARELLI SA          CCHI3 BZ         11281940.72    -81454622.1
CHIARELLI SA-PRF      CCHI4 BZ         11281940.72    -81454622.1
TECEL S JOSE-PRF      SJOS4 BZ         11174696.21    -61473722.8
TECEL S JOSE-PRF      FTSJPN BZ        11174696.21    -61473722.8
TECEL S JOSE          FTSJON BZ        11174696.21    -61473722.8
TECEL S JOSE          SJOS3 BZ         11174696.21    -61473722.8
F GUIMARAES-PREF      FGUI4 BZ         11016542.14     -151840377
F GUIMARAES           FGUI3 BZ         11016542.14     -151840377
FERREIRA GUIM-PR      FGUIPN BZ        11016542.14     -151840377
FERREIRA GUIMARA      FGUION BZ        11016542.14     -151840377
LARK MAQUINAS         LARON BZ         6280039.909    -13860968.7
LARK SA MAQU-RTS      LARK1 BZ         6280039.909    -13860968.7
LARK MAQS             LARK3 BZ         6280039.909    -13860968.7
LARK SA MAQU-RTS      LARK2 BZ         6280039.909    -13860968.7
LARK MAQUINAS-PR      LARPN BZ         6280039.909    -13860968.7
LARK MAQS-PREF        LARK4 BZ         6280039.909    -13860968.7


CHILE


EMPRESA DE LOS F      2940894Z CI       1933599186    -50416405.6
LA POLAR-RT           LAPOLARO CI      626658111.9     -537455813
LA POLAR SA           LAPOLAR CI       626658111.9     -537455813
PUYEHUE               PUYEH CI         25568725.55     -2547071.2
PUYEHUE RIGHT         PUYEHUOS CI      25568725.55     -2547071.2


                            ***********


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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