TCRLA_Public/121116.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

           Friday, November 16, 2012, Vol. 13, No. 229


                            Headlines



B E R M U D A

BOUNTY PRIVATE: Creditors' Proofs of Debt Due Nov. 30
COLOMBIA HOLDING: Placed Under Voluntary Wind-Up
COLOMBIA PORT: Placed Under Voluntary Wind-Up
COLOMBIA TRANSPORTATION: Placed Under Voluntary Wind-Up
CONCERTO LIMITED: Placed Under Voluntary Wind-Up

OIL CASUALTY: Placed Under Voluntary Wind-Up
OIL INVESTMENT: Placed Under Voluntary Wind-Up
PACIFIC ALLIANCE: Placed Under Voluntary Wind-Up
PANGAEA REINSURANCE: Placed Under Voluntary Wind-Up


C A Y M A N  I S L A N D S

ARROW VOYAGEUR: Creditors' Proofs of Debt Due Nov. 22
HALEY INVESTMENTS: Creditors' Proofs of Debt Due Dec. 3
ISAAC ALTERNATIVE: Creditors' Proofs of Debt Due Nov. 20
MARATHON HOLDINGS: Creditors' Proofs of Debt Due Dec. 3
MINT HOLDINGS: Creditors' Proofs of Debt Due Dec. 3

PROLOGIS CAYMAN: Commences Liquidation Proceedings
RENAISSANCE CARIBBEAN: Commences Liquidation Proceedings
RMF DIVERSIFIED: Commences Liquidation Proceedings
S.R. EQUITIES: Creditors' Proofs of Debt Due Dec. 3
VIOLET II FOUNDATION: Creditors' Proofs of Debt Due Dec. 3


J A M A I C A

IBEROSTAR ROSE: To Commence Two-Day Hearing Into an Appeal
* JAMAICA: Imports Fall by 5% in Last Six Months


C O S T A  R I C A

* COSTA RICA: Fitch Puts 'BB+' Rating on Global Bond Due 2022


E L  S A L V A D O R

* EL SALVADOR: Fitch Puts 'BB' Sovereign Rating on Neg. Outlook


P U E R T O  R I C O

CONSTRUCTORA DE HATO: Has Until Nov. 30 to Propose Ch. 11 Plan
PONCE DE LEON: Taps Christiansen & Portela as Real Estate Broker


                            - - - - -


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


BOUNTY PRIVATE: Creditors' Proofs of Debt Due Nov. 30
-----------------------------------------------------
The creditors of Bounty Private Trust Company Limited are required
to file their proofs of debt by Nov. 30, 2012, to be included in
the company's dividend distribution.

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

The company's liquidator is:

         Michelle Wolfe
         c/o Meritus Trust Company Limited


COLOMBIA HOLDING: Placed Under Voluntary Wind-Up
------------------------------------------------
On Oct. 18, 2012, the member of Colombia Holding Ltd. resolved to
voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
Nov. 9, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         Kehinde A. L. George
         Crawford House, 50 Cedar Avenue
         Hamilton HM 11
         Bermuda


COLOMBIA PORT: Placed Under Voluntary Wind-Up
---------------------------------------------
On Oct. 17, 2012, the member of Colombia Port Ltd. resolved to
voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
Nov. 9, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         Kehinde A. L. George
         Crawford House, 50 Cedar Avenue
         Hamilton HM 11
         Bermuda


COLOMBIA TRANSPORTATION: Placed Under Voluntary Wind-Up
-------------------------------------------------------
On Oct. 17, 2012, the member of Colombia Transportation Ltd.
resolved to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
Nov. 9, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         Kehinde A. L. George
         Crawford House, 50 Cedar Avenue
         Hamilton HM 11
         Bermuda


CONCERTO LIMITED: Placed Under Voluntary Wind-Up
------------------------------------------------
On Oct. 25, 2012, the member of Concerto Limited resolved to
voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
Nov. 9, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

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


OIL CASUALTY: Placed Under Voluntary Wind-Up
--------------------------------------------
On Oct. 19, 2012, the member of Oil Casualty Private Trustee Ltd.
resolved to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
Nov. 9, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         Kehinde A. L. George
         Crawford House, 50 Cedar Avenue
         Hamilton HM 11
         Bermuda


OIL INVESTMENT: Placed Under Voluntary Wind-Up
----------------------------------------------
On Oct. 19, 2012, the member of Oil Investment Private Trustee
Ltd. resolved to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
Nov. 9, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         Kehinde A. L. George
         Crawford House, 50 Cedar Avenue
         Hamilton HM 11
         Bermuda


PACIFIC ALLIANCE: Placed Under Voluntary Wind-Up
------------------------------------------------
On Oct. 23, 2012, the member of Pacific Alliance Reinsurance Ltd.
resolved to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
Nov. 9, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

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


PANGAEA REINSURANCE: Placed Under Voluntary Wind-Up
---------------------------------------------------
On Oct. 23, 2012, the members of Pangaea Reinsurance II, Ltd.
resolved to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
Nov. 9, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

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



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


ARROW VOYAGEUR: Creditors' Proofs of Debt Due Nov. 22
-----------------------------------------------------
The creditors of Arrow Voyageur Fund Inc. are required to file
their proofs of debt by Nov. 22, 2012, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on Sept. 13, 2012.

The company's liquidator is:

         Intertrust Corporate Services (Cayman) Limited
         87 Mary Street, George Town
         Grand Cayman KY1-9005
         Cayman Islands
         c/o Jennifer Chailler
         Telephone: (345) 814 6847


HALEY INVESTMENTS: Creditors' Proofs of Debt Due Dec. 3
-------------------------------------------------------
The creditors of Haley Investments Inc. are required to file their
proofs of debt by Dec. 3, 2012, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on Sept. 28, 2012.

The company's liquidator is:

         Alexandria Bancorp Limited
         c/o Barbara Conolly
         Telephone: (345) 945-1111
         The Grand Pavilion Commercial Centre
         802 West Bay Road
         P.O. Box 2428 Grand Cayman KY1-1105
         Cayman Islands


ISAAC ALTERNATIVE: Creditors' Proofs of Debt Due Nov. 20
--------------------------------------------------------
The creditors of Isaac Alternative Cayman SPC are required to file
their proofs of debt by Nov. 20, 2012, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on Sept. 28, 2012.

The company's liquidator is:

         Giacomo Corsini
         Telephone: +39 328 8174 182
         Facsimile: +39 02 3206 5481
         e-mail: gcorsini@inalternative.com
         Via Conca del Naviglio 22
         20123 Milan
         Italy


MARATHON HOLDINGS: Creditors' Proofs of Debt Due Dec. 3
-------------------------------------------------------
The creditors of Marathon Holdings Inc. are required to file their
proofs of debt by Dec. 3, 2012, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on Sept. 28, 2012.

The company's liquidator is:

         Alexandria Bancorp Limited
         c/o Barbara Conolly
         Telephone: (345) 945-1111
         The Grand Pavilion Commercial Centre
         802 West Bay Road
         P.O. Box 2428 Grand Cayman KY1-1105
         Cayman Islands


MINT HOLDINGS: Creditors' Proofs of Debt Due Dec. 3
---------------------------------------------------
The creditors of Mint Holdings Inc. are required to file their
proofs of debt by Dec. 3, 2012, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on Sept. 28, 2012.

The company's liquidator is:

         Alexandria Bancorp Limited
         c/o Barbara Conolly
         Telephone: (345) 945-1111
         The Grand Pavilion Commercial Centre
         802 West Bay Road
         P.O. Box 2428 Grand Cayman KY1-1105
         Cayman Islands


PROLOGIS CAYMAN: Commences Liquidation Proceedings
--------------------------------------------------
On Sept. 28, 2012, the members of Prologis Cayman Limited resolved
to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Nov. 13, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         CDL Company Ltd.
         P.O. Box 31106 Grand Cayman KY1-1205
         Cayman Islands


RENAISSANCE CARIBBEAN: Commences Liquidation Proceedings
--------------------------------------------------------
On Sept. 28, 2012, the members of Renaissance Caribbean Limited
resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Nov. 13, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         CDL Company Ltd.
         P.O. Box 31106 Grand Cayman KY1-1205
         Cayman Islands


RMF DIVERSIFIED: Commences Liquidation Proceedings
--------------------------------------------------
On Oct. 2, 2012, the members of RMF Diversified Twenty Ltd.
resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Nov. 12, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         Beverly Mathias
         c/o Citco Trustees (Cayman) Limited
         P.O. Box 31106 Grand Cayman KY1-1205
         Cayman Islands


S.R. EQUITIES: Creditors' Proofs of Debt Due Dec. 3
---------------------------------------------------
The creditors of S.R. Equities Ltd. are required to file their
proofs of debt by Dec. 3, 2012, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on Sept. 28, 2012.

The company's liquidator is:

         Alexandria Bancorp Limited
         c/o Barbara Conolly
         Telephone: (345) 945-1111
         The Grand Pavilion Commercial Centre
         802 West Bay Road
         P.O. Box 2428 Grand Cayman KY1-1105
         Cayman Islands


VIOLET II FOUNDATION: Creditors' Proofs of Debt Due Dec. 3
----------------------------------------------------------
The creditors of The Violet II Foundation are required to file
their proofs of debt by Dec. 3, 2012, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on Sept. 28, 2012.

The company's liquidator is:

         Alexandria Bancorp Limited
         c/o Barbara Conolly
         Telephone: (345) 945-1111
         The Grand Pavilion Commercial Centre
         802 West Bay Road
         P.O. Box 2428 Grand Cayman KY1-1105
         Cayman Islands



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


IBEROSTAR ROSE: To Commence Two-Day Hearing Into an Appeal
----------------------------------------------------------
RJR News reports that the Jamaican Supreme Court scheduled to
commence a two-day hearing into an appeal filed by Iberostar Rose
Hall Beach Hotel against a ruling handed down by the Industrial
Disputes Tribunal (IDT).

A statement from the University and Allied Workers Union, UAWU,
says this is with respect to an award made that the more than 350
employees whose contracts were terminated in 2010, on the grounds
of redundancy, be reinstated, according to RJR News.

On August 30 last year, the IDT handed down an award in favor of
the workers, the report recalls.

The report notes that the UAWU has engaged the services of an
attorney to represent the employees.

As reported in the Troubled Company Reporter-Latin America on
July 2, 2010, RadioJamaica related that the dispute between the
Iberostar Rose Hall Beach Hotel and the University and Allied
Workers Union has been referred to the Industrial Disputes
Tribunal.  The dispute surrounds the dismissal of more than 2,000
employees.  According to the report, the UAWU and the management
of Iberostar have been at odds since August 2009, when the
hotel's management closed down operations, citing a downturn in
the global economy.  The report noted that as a result, the
position of all the employees in the bargaining unit represented
by the UAWU were made redundant.

TCR-LA reported on Sept. 1, 2009, RadioJamaica related that the
IBEROSTAR Hotels & Resorts, one of three hotels on the Spanish
chain's property in Montego Bay, closed Sept. 1 due to low
occupancy. IberoStar opened in 2007.

                About IBEROSTAR Hotels & Resorts

IBEROSTAR Hotels & Resorts -- http://www.iberostar.com/-- is the
hotel division of Iberostar Group, is one of the most renowned
Spanish hotel chains at the global level.  Founded by the Fluxa
family in Palma de Mallorca (Balearic Islands, Spain) in 1986, it
has come to offer top-level accommodation in major travel
destinations around the world.  As a brand name, IBEROSTAR is
synonymous with quality in the fifteen countries where it
operates, providing outstanding service and personal assistance
to ensure full guest satisfaction.  With a star as its symbol,
the chain has managed to win over customers with its philosophy
and values, and its efficient, professional staff.


* JAMAICA: Imports Fall by 5% in Last Six Months
------------------------------------------------
RJR News reports that the Customs Department has revealed that for
the last six months, imports have fallen by at least 5%.

Exports have also fallen over the same period, according to RJR
News.

The report relates that Richard Reese, Commissioner of Customs,
disclosed that there was a J$1-billion dollar deficit in revenue
collected over the six month period:

"We saw collections of J$70.3 billion from April through to
October and that is against a target of $70.1 billion so there is
that shortfall because in September in particular we had a very
challenging month.  For this month, October, our gross collection
was $10.7 billion which was in fact 4 per cent above October's
monthly target."

The report notes that the customs boss said in an effort to
improve its revenue collection, the department had revised its
procedures relating to the distribution of alcohol.

"We now collect the commercial rate of duty on all alcohol sales
and those sales that are made to hotels under the incentive
agreement is refunded based on application," the report quoted Mr.
Reese as saying.



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C O S T A  R I C A
==================


* COSTA RICA: Fitch Puts 'BB+' Rating on Global Bond Due 2022
-------------------------------------------------------------
Fitch Ratings has assigned Costa Rica's upcoming benchmark global
bond maturing in 2022 an expected rating of 'BB+'.  The expected
rating is in line with Costa Rica's Foreign Currency Issuer
Default Rating, which has a Stable Outlook.  The receipts from
this issuance will be used for the refinancing of external and
domestic debt obligations in 2012 and 2013.

Costa Rica's 'BB+' ratings are supported by its institutional
strength and favorable social indicators.  A history of political
and macroeconomic stability combined with a skilled labor force
continues to attract foreign direct investment and foster the
development of highly competitive export-oriented industries.

Costa Rica's ratings are constrained by the country's narrow and
pro-cyclical revenue base, relatively high fiscal deficits and
expenditure rigidities which limit its fiscal flexibility.
However, Costa Rica's low government indebtedness relative to
peers (30.8% in 2011 compared with 40.3% for the 'BB' median)
gives it some space to deal with fiscal pressures.



====================
E L  S A L V A D O R
====================


* EL SALVADOR: Fitch Puts 'BB' Sovereign Rating on Neg. Outlook
---------------------------------------------------------------
Fitch Ratings says that El Salvador is making some progress
towards fiscal consolidation, but it may prove insufficient given
the country's weak economic prospects.  Fitch currently has a
Negative Outlook on El Salvador's 'BB' sovereign rating, which
reflects the agency's concerns about the government's elevated
debt burden, which constrains its ability to cope with future
shocks.

The government and the Legislative Assembly in El Salvador have
agreed on the need to bring public finances onto a more
sustainable path.  New tax reform and expenditure-cutting
strategies could reduce fiscal deficits in 2013 and 2014, but this
may not be sufficient to materially improve debt dynamics given
relatively weak growth prospects.  'Even if the passage of reforms
facilitates lower fiscal deficits, the non-financial public sector
(NFPS) debt could still remain above 51% of GDP by 2014, well over
the 'BB'-median of 38%' said Santiago Mosquera, a Director in
Fitch's Latin America Sovereigns Group.

The current administration has been successful in implementing
revenue-enhancing measures. Gross tax collection could represent
15.9% of GDP in 2012, up from 12.6% of GDP in 2009. The government
is about to send a bill with the third fiscal reform since 2009,
one that could lead to an increase in government revenues by 0.3%
of GDP in 2013. The previous two reforms were intended to generate
additional tax proceeds equivalent to 1.3% of GDP after their full
implementation (in 2013).

At the same time, the government is expected to impose a 10%
current-expenditure cut and administrative measures in an attempt
to cut the NFPS deficit from 3.9% of GDP expected in 2012 to 2.7%
in 2013.  'The fiscal effort to support such a deficit-reduction
strategy will be challenging, particularly given El Salvador's
weak economic prospects, high social security costs, and high
deficit in 2012,' added Mosquera.  The Fiscal Sustainability
Accord signed on October 18 authorized an USD800 million bond
issuance to finance debt management operations.  The proceeds
should first cover the unlikely early payment of a bond with a put
option due in January 2013, while the balance could finance
buybacks of short-term debt (Letes).  Fitch sees the issuance of
global bonds to be neutral for debt ratios because of the strict
use of the proceeds, although El Salvador's debt maturity profile
could improve moderately.

The Fiscal Responsibility Accord also opened the door for the
implementation of a fiscal rule to reduce fiscal policy discretion
and enhance transparency.  Fitch believes that further
strengthening of the existing fiscal framework via a fiscal rule
will be positive, although experiences in other countries show
that a fiscal rule per-se does not guarantee fiscal discipline.
Moreover, it is unclear how ambitious the goals set by the fiscal
rule would be or the timeline for its implementation.



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


CONSTRUCTORA DE HATO: Has Until Nov. 30 to Propose Ch. 11 Plan
--------------------------------------------------------------
The Hon. Brian K. Tester of the U.S. Bankruptcy Court for the
District of Puerto Rico extended until Nov. 30, 2012, Constructora
De Hato Rey Incorporada's time to file a Chapter 11 Plan and an
explanatory Disclosure Statement.

San Juan, Puerto Rico-based Constructora De Hato owns parcels of
land in Puerto Rico with an aggregate value of $1.82 million.  It
filed a Chapter 11 petition (Bankr. D.P.R. Case No. 12-02876-11)
in Old San Juan, Puerto Rico, on April 13, 2012.  The petition was
signed by Waldemar Carmona Gonzalez, president.  The Debtor is
represented by Charles Alfred Cuprill, Esq., at Charles A.
Curpill, PSC Law Office, in San Juan.  Luis R. Carrasquillo & Co.,
PSC, serves as financial consultant.  In its amended schedules,
the Debtor disclosed $10,701,724 in assets and $6,847,693 in
liabilities.


PONCE DE LEON: Taps Christiansen & Portela as Real Estate Broker
-----------------------------------------------------------------
Ponce de Leon 1403, Inc., asks the U.S. Bankruptcy Court for the
District of Puerto Rico for permission to employ Gerald J.
Christiansen from Christiansen & Associates, Inc., doing business
as Christiansen & Portela, as real estate broker.

Mr. Christiansen and the firm will, among other things:

   -- act as exclusive sales and leasing agent of the Debtor's
      commercial units located at Metro Plaza Towers Condominium,
      San Juan, Puerto Rico;

   -- offer the property for sale in accordance with established
      practices;

   -- assist the debtor in any negotiations for the sale/ leasimg
      of the property; and

   -- assist the Debtor in the preparation and selection of all
      advertising and promotional materials, including, but not
      limited to printed media advertisements, brochures, and
      signs to be places at the property offering the property for
      sale/ lease.

The Debtor agreed to compensate the broker as:

  (i) a disposition fee equal to 4% of the sales price of the
      property will be earned by the broker if the property is
      sold during the term of the agreement or within 180 days of
      its termination if sold to a client introduced to the
      property by broker prior to the termination or expiration
      of the agreement; and

(ii) a disposition fee equal to 5% of the sales price of the
      property will be earned by the broker if the property is
      sold during the term of the agreement or 180 days of its
      termination is sold to a client with the assistance of the
      third party co-operating brokers.

To the best of the Debtor's knowledge, the firm is a
"disinterested person' as that term is defined in Section 101(14)
of the Bankruptcy Code.

                        About Ponce De Leon

San Juan, P.R.-based Ponce De Leon 1403, Inc., developed,
constructed, and operates the Metro Plaza Tower condominium and
commercial property project in Santurce, Puerto Rico.  The Metro
Plaza Tower project consists of two 15-story towers atop a base
structure that serves as a parking garage, common area, and retail
space.  Each tower houses 87 residential units.  The base
structure provides approximately 567 parking spaces and has
approximately 14,000 square feet of commercial space available for
lease.  The common areas of the project include a swimming pool, a
gym, gardens and a gazebo.

Ponce De Leon 1403 Inc. filed for Chapter 11 protection (Bank. D.
P.R. Case No. 11-07920) on Sept. 19, 2011.  The Debtor estimated
both assets and debts of between US$10 million and US$50 million.

Carmen Conde Torres, Esq., at C. Conde & Assoc., in Old San Juan,
Puerto Rico, represents the Debtor as counsel.

U.S. Bankruptcy Court for the District of Puerto Rico has
granted Ponce De Leon 1403 Inc. permission to employ Doris Barroso
Vicens as accountant, with compensation to be paid in such amounts
as may be allowed by the Court.



                            ***********


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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