TCRLA_Public/120815.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

           Wednesday, August 15, 2012, Vol. 13, No. 162


                            Headlines



A R G E N T I N A

INTERCEMENT BRASIL: S&P Affirms 'BB' Issuer Credit Rating
YPF SA: Posts ARS833MM Net Income Since Nationalization


B E R M U D A

CPI-WESTERN POWER: Creditors' Proofs of Debt Due Aug. 22
CPI-WESTERN POWER: Members' Final Meeting Set for Sept. 10
MEDITOR MASTER: Creditors' Proofs of Debt Due Aug. 30
MEDITOR MASTER: Member to Receive Wind-Up Report on Oct. 17
PEAK FSC: Creditors' Proofs of Debt Due Aug. 22

PEAK FSC: Member to Receive Wind-Up Report on Sept. 12
WHITE & SONS: Judge Appoints KMPG as Liquidators


B R A Z I L

CAMARGO CORREA: Fitch Affirms 'BB' Ratings


C A Y M A N   I S L A N D S

AL-SHARQ, LTD: Shareholders' Final Meeting Set for Aug. 31
ARMONK CORPORATION: Shareholders' Final Meeting Set for Sept. 13
EIDESIS SPECIAL: Shareholder to Receive Wind-Up Report on Aug. 31
EIDESIS SPECIAL FUND: Member to Hear Wind-Up Report on Aug. 31
GREYSTONE CORPORATION: Shareholders' Meeting Set for Sept. 13

KSB FENG HUANG: Shareholders' Final Meeting Set for Aug. 31
KSB FENG HUANG MASTER: Final Meeting Set for Aug. 31
NEXUS GEMINI: Shareholder to Receive Wind-Up Report on Aug. 22
NORA LIMITED: Members' Final Meeting Set for Aug. 23
PHILOSMITH OFFSHORE: Shareholders' Final Meeting Set for Aug. 24


H A I T I

DIGICEL GROUP: Uncovers Fraud in Haiti Operations


J A M A I C A

WESTERN UNION: JCC Supports Temporary Closure
* JAMAICA: S&P Ups Sovereign Credit Ratings to 'B'; Outlook Neg


M E X I C O

* MUNICIPALITY OF CAMPECHE: Moody's Assigns 'B2' Issuer Ratings


P U E R T O   R I C O

PARADOR VISTAMAR: Case Summary & 14 Unsecured Creditors


                            - - - - -


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


INTERCEMENT BRASIL: S&P Affirms 'BB' Issuer Credit Rating
---------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'BB' ratings on
InterCement Brasil S.A. and its recently-acquired Cimpor Cimentos
de Portugal, S.G.P.S. S.A. and removed the ratings from
CreditWatch with negative implications. "We had placed the ratings
on CreditWatch on April 2, 2012, after InterCement announced a
public offer to acquire the remaining 67% of Cimpor's shares on
Portugal's stock exchange. The outlook is stable," S&P said.

"The rating action follows InterCement's successful takeover of
Cimpor from the majority of existing shareholders. InterCement
currently owns 72.9% of Cimpor and is working on a separate
agreement for the acquisition of Votorantim's stake in Cimpor,
through an asset swap, which would increase its ownership of
Cimpor to 94.1%. InterCement plans to finalize the reorganization
by the end of 2012," S&P said.

"We view InterCement and Cimpor as integrated companies, given
InterCement's high degree of influence and ownership of Cimpor.
Once Cimpor is fully incorporated, InterCement will have access to
Cimpor's assets, control of cash and dividend payouts, and direct
the combined company's strategy. From a credit standpoint, we now
consider both companies as a single-economic group bearing the
same default risk," S&P said.


YPF SA: Posts ARS833MM Net Income Since Nationalization
-------------------------------------------------------
Pablo Gonzalez at Bloomberg News reports that YPF SA said
quarterly profit climbed 8% on higher oil prices in the first
report since the Argentine company was nationalized by President
Cristina Fernandez de Kirchner.

Net income increased to ARS833 million (US$181 million) from
ARS771 million a year earlier, according to Bloomberg News.

Bloomberg News notes that YPF SA said oil production gained 24% in
the quarter on higher local prices and also there wasn't a repeat
of reduced output in the southern provinces of Chubut and Santa
Cruz because of strikes a year ago.

Bloomberg News says that local oil prices rose 24% to $70.4 a
barrel, the company said.  Investments climbed 25% to ARS3.4
billion from a year ago, YPF said, Bloomberg News relates.

Bloomberg News recalls that President Fernandez seized a 51% stake
from Spain's Repsol SA (REP) in April.  Miguel Galuccio was named
as chief executive officer to halt declining output and stem fuel
imports that doubled to ARS$9.4 billion last year, Bloomberg News
says.

YPF's refining unit operating profit dropped 27% while refined
exports slid 14% in the period, Bloomberg News discloses.

                          About YPF SA

Headquartered in Buenos Aires, Argentina, YPF S.A. is an
integrated oil and gas company engaged in the exploration,
development and production of oil and gas, natural gas and
electricity-generation activities (upstream), the refining,
marketing, transportation and distribution of oil and a range of
petroleum products, petroleum derivatives, petrochemicals and
liquid petroleum gas (downstream).  The company is a subsidiary
of Repsol YPF, S.A., a Spanish company engaged in oil exploration
and refining, which holds 99.04% of its shares.  Its
international operations are conducted through its subsidiaries,
YPF International S.A. and YPF Holdings Inc.

                       *     *     *

As reported in the Troubled Company Reporter-Latin America on
Jan. 6, 2012, Dow Jones' DBR Small Cap reports that Argentina's
largest oil and gas producer, YPF SA, said it won't exercise an
option to lift its stake in the parent company of natural gas
distribution firm Metrogas SA after failing to reach an agreement
with creditors.

As of March 20, 2012, the company continues to carry Fitch
Rating's "B+" long-term foreign currency default rating and "BB"
long-term local currency issuer default rating.



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


CPI-WESTERN POWER: Creditors' Proofs of Debt Due Aug. 22
--------------------------------------------------------
The creditors of CPI-Western Power Holdings Ltd. are required to
file their proofs of debt by Aug. 22, 2012, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on Aug. 6, 2012.

The company's liquidator is:

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


CPI-WESTERN POWER: Members' Final Meeting Set for Sept. 10
----------------------------------------------------------
The members of CPI-Western Power Holdings Ltd. will hold their
final meeting on Sept. 10, 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:

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


MEDITOR MASTER: Creditors' Proofs of Debt Due Aug. 30
-----------------------------------------------------
The creditors of Meditor Master Cobra Fund Limited are required to
file their proofs of debt by Aug. 30, 2012, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on July 26, 2012.

The company's liquidator is:

         James Keyes
         101 Front Street
         Hamilton HM12
         Bermuda


MEDITOR MASTER: Member to Receive Wind-Up Report on Oct. 17
-----------------------------------------------------------
The member of Meditor Master Cobra Fund Limited will receive on
Oct. 17, 2012, at 10:00 a.m., the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

         James Keyes
         101 Front Street
         Hamilton HM12
         Bermuda


PEAK FSC: Creditors' Proofs of Debt Due Aug. 22
-----------------------------------------------
The creditors of Peak FSC, Ltd. are required to file their proofs
of debt by Aug. 22, 2012, to be included in the company's dividend
distribution.

The company commenced wind-up proceedings on July 31, 2012.

The company's liquidator is:

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


PEAK FSC: Member to Receive Wind-Up Report on Sept. 12
------------------------------------------------------
The member of Peak FSC, Ltd. will receive on Sept. 12, 2012, at
11:00 a.m., the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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


WHITE & SONS: Judge Appoints KMPG as Liquidators
------------------------------------------------
Lindsay Kelly at The Royal Gazette reports that White & Sons Ltd
closed its doors in Warwick Friday after a liquidation order was
approved.  The Royal Gazette understands that the supermarket's
entire staff was laid off as a result of the ruling.

According to the report, acting Chief Justice Charles-Etta Simmons
signed an order to wind up the store under the provision of the
Companies Act 1981 in a 15-minute court hearing at Sessions House
on August 10.

KPMG was assigned as liquidators for the grocer that has been in
the supermarket business in Bermuda since 1924, the report relays.

According to the report, KPMG said they are currently assessing a
variety of options for White's, including "continuing to operate
the business at 22 Middle Road, Warwick while a potential sale of
the business is explored".

A KPMG spokesperson stated that the liquidation does not affect
the operation of White's sister groceries, Hayward's Supermarket
or White's Southside, the report adds.

Together, the three entities have a staff of approximately 85, the
report discloses.

According to the Royal Gazette, shipping and courier company
International Bonded Couriers of Bermuda, represented by
Deborah Correia of Wakefield Quin Limited, filed the petition last
month to reclaim money White & Sons Ltd owed them.

Since filing, 27 other creditors, including wholesale companies
Pitt & Company Ltd and BGA Ltd, have come forward and filed
claims, the report notes.

The Royal Gazette notes that creditors, suppliers and/or potential
purchasers should contact Khalid Davis of KPMG on 294-2628 or
khaliddavis@kpmg.bm.



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


CAMARGO CORREA: Fitch Affirms 'BB' Ratings
------------------------------------------
Standard & Poor's Ratings Services affirmed its 'BB' ratings on
Brazil-based conglomerate Camargo Correa S.A. and removed the
ratings from CreditWatch with negative implications. "We had
placed the ratings on CreditWatch on April 2, 2012, after its
subsidiary, InterCement Brasil S.A. (BB/Stable/--), announced a
public offer to acquire the remaining 67% of Cimpor Cimentos de
Portugal, S.G.P.S. S.A.'s shares on Portugal's stock exchange. The
outlook is stable," S&P said.

"The rating action follows Camargo's successful takeover of Cimpor
from the majority of existing shareholders. Camargo group
currently owns 72.9% of Cimpor and is working on a separate
agreement for the acquisition of Votorantim's stake of Cimpor,
through an asset swap, to increase its ownership to 94.1%.
Additionally, profitability at Camargo's heavy construction
business, Construcoes e Comercio Camargo Correa S.A. (not rated),
has improved following losses on a few projects during 2011," S&P
said.

"The rating affirmation is based on our expectation that Camargo
will successfully integrate Cimpor's business into its cement
division. With a total estimated installed capacity of about 36
million tons per year, the new consolidated cement division would
become a global major player," S&P said.

"The rating affirmation also incorporates our expectation that
after some losses at some of its projects in 2011 (mainly at Jirau
hydroelectric dam), the heavy construction unit's performance
would stabilize and Camargo's financial flexibility would improve
partly thanks to the asset sale of Usinas Siderurgicas de Minas
Gerais S.A. (Usiminas; BBB-/Negative/--) for about R$2.3 billion
and the debt repayment of about R$1.1 billion during the first
half of 2012."



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


AL-SHARQ, LTD: Shareholders' Final Meeting Set for Aug. 31
----------------------------------------------------------
The shareholders of Al-Sharq, Ltd. will hold their final meeting
on Aug. 31, 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:

         Shaikh Abdul Rahiman
         Gulf Investment House K.S.C.
         Dar Al-Awadi Towers, 27th to 30th Floors
         Ahmad Al-Jaber Street, Sharq
         PO Box 28808, Safat 13149
         Kuwait
         Telephone: (+965) 1844488 Ext-1402


ARMONK CORPORATION: Shareholders' Final Meeting Set for Sept. 13
----------------------------------------------------------------
The shareholders of Armonk Corporation will hold their final
meeting on Sept. 13, 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:

         Cora Limited
         Arawak Chambers
         Sea Meadow House, Blackburne Highway
         Road Town, Tortola
         British Virgin Islands


EIDESIS SPECIAL: Shareholder to Receive Wind-Up Report on Aug. 31
-----------------------------------------------------------------
The shareholder of Eidesis Special Opportunities Offshore, Ltd.
will receive on Aug. 31, 2012, at 9:30 a.m., 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


EIDESIS SPECIAL FUND: Member to Hear Wind-Up Report on Aug. 31
--------------------------------------------------------------
The shareholder of Eidesis Special Opportunities Master Fund, Ltd.
will receive on Aug. 31, 2012, at 9:15 a.m., 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


GREYSTONE CORPORATION: Shareholders' Meeting Set for Sept. 13
-------------------------------------------------------------
The shareholders of Greystone Corporation will hold their final
meeting on Sept. 13, 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:

         Cora Limited
         Arawak Chambers
         Sea Meadow House, Blackburne Highway
         Road Town, Tortola
         British Virgin Islands


KSB FENG HUANG: Shareholders' Final Meeting Set for Aug. 31
-----------------------------------------------------------
The shareholders of KSB Feng Huang Development Fund will hold
their final meeting on Aug. 31, 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


KSB FENG HUANG MASTER: Final Meeting Set for Aug. 31
----------------------------------------------------
The shareholders of KSB Feng Huang Development Master Fund will
hold their final meeting on Aug. 31, 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


NEXUS GEMINI: Shareholder to Receive Wind-Up Report on Aug. 22
--------------------------------------------------------------
The shareholder of Nexus Gemini Ltd. will receive on Aug. 22,
2012, at 10:00 a.m., the liquidator's report on the company's
wind-up proceedings and property disposal.

The company's liquidator is:

         Ogier
         c/o Michael Lubin
         Telephone: (345) 815 1793
         Facsimile: (345) 949-9877


NORA LIMITED: Members' Final Meeting Set for Aug. 23
----------------------------------------------------
The members of Nora Limited will hold their final meeting on
Aug. 23, 2012, to receive the liquidator's report on the company's
wind-up proceedings and property disposal.

The company's liquidator is:

         Eagle Holdings Ltd.
         c/o Barclays Private Bank & Trust (Cayman) Limited
         FirstCaribbean House, 4th Floor
         P.O. Box 487 Grand Cayman KY1-1106
         Cayman Islands


PHILOSMITH OFFSHORE: Shareholders' Final Meeting Set for Aug. 24
----------------------------------------------------------------
The shareholders of Philosmith Offshore Partners Ltd. will hold
their final meeting on Aug. 24, 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:

         Mourant Ozannes Cayman Liquidators Limited
         94 Solaris Avenue, Camana Bay
         Grand Cayman KY1-1108
         Cayman Islands



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H A I T I
=========


DIGICEL GROUP: Uncovers Fraud in Haiti Operations
-------------------------------------------------
RJR News reports that Digicel Group Limited has launched an
investigation into a fraud in Haiti, one of its biggest markets.

In response to a query from Ireland's Independent newspaper, the
company issued a brief statement stating that like all
multinational companies, it does suffer cases of minor fraud from
time to time, according to RJR News.

The report relates that Digicel Group said it is an internal
matter and the company is conducting a thorough investigation.
RJR News notes that it is believed that the mobile phone group has
begun a probe into whether a scam existed to skim money from
international callers.

The scam may have been in operation since 2009 by individuals who
managed to route money made on international calls away from
Digicel Group, RJR News says.

Digicel Group has invested 600 million dollars since entering the
Haitian market in 2005, where it now has 3.5 million customers.

Digicel Group Limited -- http://www.digicelgroup.com/-- is
renowned for competitive rates, unbeatable coverage, superior
customer care, a wide variety of products and services and state-
of-the-art handsets.  By offering innovative wireless services
and community support, Digicel Group has become a leading brand
across its 31 markets worldwide.  Digicel is based in Jamaica.
It has operations in 31 markets worldwide.  Its Caribbean and
Central American markets comprise Anguilla, Antigua & Barbuda,
Aruba Barbados, Bermuda, Bonaire, the British Virgin Islands, the
Cayman Islands, Curacao, Dominica, El Salvador, French Guiana,
Grenada, Guadeloupe, Guyana, Haiti, Honduras, Jamaica,
Martinique, Panama, St. Kitts Nevis, St. Lucia, St. Vincent & the
Grenadines, Suriname, Trinidad & Tobago and Turks & Caicos.  The
Caribbean company also has coverage in St. Martin and St. Barts.
Digicel Pacific comprises Fiji, Papua New Guinea, Samoa, Tonga
and Vanuatu.

                      *     *     *

As of June 25, 2012, the company continues to carry Moody's
"Caa1" senior unsecured debt rating.



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


WESTERN UNION: JCC Supports Temporary Closure
---------------------------------------------
RJR News reports that the Jamaica Chamber of Commerce (JCC) has
come out in support of the decision by Western Union to
temporarily close its outlets in St. James to conduct a systems
review.

A statement from the Chamber said it will back the move by Western
Union and any other entity that finds it necessary to initiate
measures to protect their hard-earned reputation, according to RJR
News.

The report notes that JCC said there is a suspicion that illegal
networks centered in western Jamaica have attempted to utilize the
communications infrastructure of a number of corporate
institutions whose activities are models of integrity.

It says the problem could become widespread and impact more
Jamaican businesses and consumers, if the country does not get a
firm handle on crime, RJR News notes.


* JAMAICA: S&P Ups Sovereign Credit Ratings to 'B'; Outlook Neg
---------------------------------------------------------------
Standard & Poor's Ratings Services raised its short-term sovereign
credit ratings on Jamaica to 'B' from 'C'. "We also affirmed our
'B-' long-term foreign and local currency issuer ratings. The
outlook remains negative. In addition, our 'B' transfer and
convertibility (T&C) assessment remains unchanged," S&P said.

"The change in the short-term rating to 'B' from 'C' results from
the revision of our criteria on the linkage between long-term and
short-term ratings for sovereigns," said Standard & Poor's credit
analyst Joydeep Mukherji. "According to our revised criteria, the
short-term rating on a sovereign is derived uniquely from the
long-term rating on the sovereign by applying a linkage that is
consistent with that applied to corporate entities with 'strong or
adequate' liquidity. As a result, the change in the short-term
ratings on Jamaica does not reflect a change in Jamaica's short-
term credit prospects."

"Jamaica's narrow economic structure, large informal sector, and
persistent fiscal and external deficits, which have led to heavy
debt-service burdens, constrain our ratings on the country.
General government debt could exceed 130% of GDP in fiscal
2012/2013, and the public-sector deficit could exceed the
government's target of 4.5% of GDP. Jamaica's interest burden will
likely also remain high at about 40% of general government revenue
for the foreseeable future. We expect Jamaica's international
reserves to cover just over three months of current account
payments as of the end of 2012. We expect GDP growth will remain
low this year, likely about 1%. In addition, the lack of a new
agreement with the International Monetary Fund (IMF) has sustained
uncertainty about economic policies, detracting from Jamaica's
creditworthiness," S&P said.

"Jamaica's stable democratic government and its success in
financing a large share of its borrowing needs in the domestic
capital markets support the ratings. We expect the government to
continue to rely on the domestic capital market, multilateral
funding, and strategic international issuances to finance its
fiscal and external gap in the short term," S&P said.

"Our local and foreign currency ratings on Jamaica are the same
because the country's less-developed domestic bond markets and
fairly high inflation constrain its monetary policy options. Our
T&C assessment is one notch higher than the foreign currency
rating. This reflects our opinion that the likelihood of the
sovereign restricting access to foreign exchange for Jamaica-based
nonsovereign issuers is slightly lower than the likelihood of the
sovereign defaulting on its foreign currency obligations. This
opinion balances the global orientation of the Jamaican economy
against the potential for tighter exchange restrictions in a
severe downside scenario," S&P said.

"The negative outlook reflects our view of the likelihood of a
downgrade if the government fails to increase its primary surplus
and meet other requirements that are necessary to once again
receive funding from the IMF and other multilateral lending
institutions. Our view is that the government's room for
fiscal maneuvering is narrowing. If the government fails to
stabilize both the external and fiscal accounts, we would likely
lower the rating. Conversely, if the government is able to improve
its fiscal stance through a credible medium-term economic plan
that will bring its IMF agreement on track while reducing external
pressures, the sovereign's creditworthiness could improve," S&P
said.



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


* MUNICIPALITY OF CAMPECHE: Moody's Assigns 'B2' Issuer Ratings
---------------------------------------------------------------
Moody's de Mexico assigned issuer ratings of Baa3.mx (Mexico
National Scale) and B2 (Global Scale, local currency) to the
Municipality of Campeche. The outlook on the ratings is stable.

Ratings Rationale

The issuer ratings of Baa3.mx (Mexico National Scale) and B2
(Global Scale, local currency) assigned to the Municipality of
Campeche reflect moderate debt levels and cash financing
requirements, offset by negative operating balances, and a very
tight liquidity position.

"Campeche has recorded cash financing requirements between 2007
and 2011 that averaged -5.3% of total revenues. The municipality
faces important pressures on both its operating revenues and
expenditures" said Maria del Carmen Martinez-Richa, a Moody's sub-
sovereign analyst. Own source revenue is equivalent to only 26.8%
of operating revenue and recently, federal transfers decreased by
7% from 2010 to 2011. On the expenditure side, pressures on
personnel services and transfers have been more acute. Campeche
provides around 5.5% of operating revenues to subsidies to the
municipal water and transport companies. Campeche has been
allocating 3% of operating revenues to employees pensions. As a
result, between 2007 and 2011, gross operating margins averaged -
3.5% of operating revenues.

Campeche's debt levels are low, net direct and indirect debt was
equivalent to 5.9% of operating revenues. The municipality is
planning to contract MXN 285 million and debt levels are expected
to increase to around 39% of operating revenues. This level
remains moderate and below the median of B rated municipalities.
However, liquidity is very tight as net working capital to total
expenditures was equivalent to -25.7% in 2011.

What Can Change The Rating Up/Down

A substantial improvement in operating and consolidated financial
results and a strengthening in liquidity could exert upward
pressure on the ratings. On the contrary, a further weakening in
operating and consolidated financial results, leading to increases
in debt levels above Moody's expectations and/or a further
weakening in its already tight liquidity position, could exert
downward pressure on the ratings.



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


PARADOR VISTAMAR: Case Summary & 14 Unsecured Creditors
-------------------------------------------------------
Debtor: Parador Vistamar Corporation
        dba Hotel Parador Vistamar
            Vistamar
            Parador Vistamar Corp
        6205 Carr 113 N
        Quebradillas, PR 00678

Bankruptcy Case No.: 12-06292

Chapter 11 Petition Date: August 9, 2012

Court: U.S. Bankruptcy Court
       District of Puerto Rico (Old San Juan)

Debtor's Counsel: Frederic Chardon Dubos, Esq.
                  CHARDON DUBOS, PSC
                  Hill Plaza
                  2847 Avenida Militar
                  Isabela, PR 00662-4099
                  Tel: (787) 872-0700
                  Fax: (787) 872-0700
                  E-mail: chdpsc@gmail.com

Estimated Assets: US$0 to US$50,000

Estimated Debts: US$1,000,001 to US$10,000,000

A copy of the Company's list of its 14 largest unsecured creditors
filed with the petition is available for free at:

           http://bankrupt.com/misc/prb12-06292.pdf

The petition was signed by Carlos Rafael Fernandez Rodriguez,
president.

Affiliate that filed separate Chapter 11 petition:

        Entity                        Case No.       Petition Date
        ------                        --------       -------------
Costa Dorada Apartments Corp.         11-03960            05/10/11


                            ***********


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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