TCRLA_Public/130103.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

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

           Thursday, January 3, 2013, Vol. 14, No. 2


                            Headlines



A R G E N T I N A

CINCO BOLSILLOS: Creditors' Proofs of Debt Due Feb. 1
GRUPO BAUNESS: Creditors' Proofs of Debt Due Feb. 4
TRANSPORTE PARMA: Creditors' Proofs of Debt Due Feb. 3


C A Y M A N  I S L A N D S

ATC LEASING: Commences Liquidation Proceedings
BLADE SECURITIES: Commences Liquidation Proceedings
CHATHAM ASSET: Placed Under Voluntary Wind-Up
CRESCENT PLANECONSULT: Placed Under Voluntary Wind-Up
FCOI II INVESTMENTS: Commences Liquidation Proceedings

H.T. CAYMAN: Commences Liquidation Proceedings
NORMANDY HILL: Commences Liquidation Proceedings
O'CONNOR CREDIT: Commences Liquidation Proceedings
O'CONNOR GLOBAL: Commences Liquidation Proceedings
PFO LIMITED: Placed Under Voluntary Wind-Up

PLATINUM RIVER: Placed Under Voluntary Wind-Up
PRG MANAGEMENT: Placed Under Voluntary Wind-Up
RP FINANCE IV: Commences Liquidation Proceedings
RP FINANCE VI: Commences Liquidation Proceedings
UNIVERSITY COMMUNITY: Commences Liquidation Proceedings


C O S T A   R I C A

* COSTA RICA: Gets $100MM Contingent Loan to Cope With Disasters


M E X I C O

AES ANDRES: S&P Affirms 'B' Issuer Credit Rating; Outlook Stable
COLUMBUS INTERNATIONAL: S&P Affirms 'B' CCR on Continued Revenue
EMPRESA GENERADORA HAINA: S&P Raises Issuer Credit Rating to 'B'
EMPRESA GENERADORA ITABO: S&P Affirms 'B-' ICR on Better Finances


T R I N I D A D  &  T O B A G O

PETROTRIN: Signs $7 Billion Agreement


X X X X X X X X

* LATAM: Economies Performed Strongly in 2012, Face Challenges
Upcoming Meetings, Conferences and Seminars




                            - - - - -


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


CINCO BOLSILLOS: Creditors' Proofs of Debt Due Feb. 1
-----------------------------------------------------
Luis Aristides Traverso, the court-appointed trustee for Cinco
Bolsillos SA's bankruptcy proceedings, will be verifying
creditors' proofs of claim until Feb. 1, 2013.

Mr. Traverso will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 22 in Buenos Aires, with the assistance of Clerk
No. 44, 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:

         Luis Aristides Traversa
         Reconquista 642
         Argentina


GRUPO BAUNESS: Creditors' Proofs of Debt Due Feb. 4
---------------------------------------------------
Jose Maria Fernandez Alonso, the court-appointed trustee for Grupo
Bauness SRL's bankruptcy proceedings, will be verifying creditors'
proofs of claim until Feb. 4, 2013.

Ms. Alonso 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:

         Jose Maria Fernandez Alonso
         Estados Unidos 2552


TRANSPORTE PARMA: Creditors' Proofs of Debt Due Feb. 3
------------------------------------------------------
Fernando Ezequiel Aquilino, the court-appointed trustee for
Transporte Parma Rojas SA's bankruptcy proceedings, will be
verifying creditors' proofs of claim until Feb. 3, 2013.

Mr. Aquilino 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:

         Fernando Ezequiel Aquilino
         Montevideo 571
         Argentina



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


ATC LEASING: Commences Liquidation Proceedings
----------------------------------------------
On Oct. 15, 2012, the members of ATC Leasing Limited resolved to
voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Dec. 17, 2012, will be included in the company's dividend
distribution.

The company's liquidators are:

         Edel Andersen
         Roger Priaulx
         Telephone: (345) 945 3466
         Facsimile: (345) 945 3470
         c/o Genesis Trust & Corporate Services Ltd.
         P.O. Box 448 Midtown Plaza
         Elgin Avenue, George Town
         Grand Cayman KY1-1106
         Cayman Islands


BLADE SECURITIES: Commences Liquidation Proceedings
---------------------------------------------------
On Oct. 25, 2012, the members of Blade Securities Limited resolved
to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Dec. 17, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         David Dyer
         Deutsche Bank (Cayman) Limited
         PO Box 1984, Boundary Hall
         Cricket Square, 171 Elgin Avenue
         Grand Cayman KY1-1104
         Cayman Islands


CHATHAM ASSET: Placed Under Voluntary Wind-Up
---------------------------------------------
On Oct. 23, 2012, the shareholders of Chatham Asset Partners
Special Situations Master Fund, Ltd. resolved to voluntarily wind
up the company's operations.

Only creditors who were able to file their proofs of debt by
Dec. 3, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         Ogier
         c/o Jennifer Parsons
         Telephone: (345) 815-1820
         Facsimile: (345) 949-9877
         89 Nexus Way, Camana Bay
         Grand Cayman KY1-9007
         Cayman Islands


CRESCENT PLANECONSULT: Placed Under Voluntary Wind-Up
-----------------------------------------------------
On May 16, 2012, the shareholders of Crescent Planeconsult Group
resolved to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
Dec. 5, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         Linburgh Martin
         c/o Neil Gray
         Telephone: (345) 949 8455
         Facsimile: (345) 949 8499
         Intertrust (Cayman) Limited
         Harbour Place, Fourth Floor
         P.O. Box 1034 Grand Cayman KY1-1102
         Cayman Islands


FCOI II INVESTMENTS: Commences Liquidation Proceedings
------------------------------------------------------
On Oct. 25, 2012, the sole shareholder of FCOI II Investments Ltd.
resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Dec. 5, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

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


H.T. CAYMAN: Commences Liquidation Proceedings
----------------------------------------------
On Oct. 19, 2012, the members of H.T. Cayman Ltd resolved to
voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Dec. 17, 2012, will be included in the company's dividend
distribution.

The company's liquidators are:

         Edel Andersen
         Roger Priaulx
         Telephone: (345) 945 3466
         Facsimile: (345) 945 3470
         c/o Genesis Trust & Corporate Services Ltd.
         P.O. Box 448 Midtown Plaza
         Elgin Avenue, George Town
         Grand Cayman KY1-1106
         Cayman Islands


NORMANDY HILL: Commences Liquidation Proceedings
------------------------------------------------
On Oct. 24, 2012, the shareholder of Normandy Hill Offshore Fund
Ltd. resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Dec. 5, 2012, will be included in the company's dividend
distribution.

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


O'CONNOR CREDIT: Commences Liquidation Proceedings
--------------------------------------------------
On Oct. 22, 2012, the shareholder of O'Connor Credit Opportunity
Master Limited resolved to voluntarily liquidate the company's
business.

Only creditors who were able to file their proofs of debt by
Dec. 5, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

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


O'CONNOR GLOBAL: Commences Liquidation Proceedings
--------------------------------------------------
On Oct. 22, 2012, the shareholder of O'Connor Global Convertible
Bond Limited resolved to voluntarily liquidate the company's
business.

Only creditors who were able to file their proofs of debt by
Dec. 5, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

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


PFO LIMITED: Placed Under Voluntary Wind-Up
-------------------------------------------
At an extraordinary general meeting held on Oct. 22, 2012, the
shareholders of PFO Limited resolved to voluntarily wind up the
company's operations.

Only creditors who were able to file their proofs of debt by
Nov. 27, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         Royhaven Secretaries Limited
         c/o Julie Reynolds
         Telephone: 945 4777
         Facsimile: 945 4799
         P.O. Box 707 Grand Cayman KY1-1107
         Telephone: 945-4777
         Facsimile: 945-4799


PLATINUM RIVER: Placed Under Voluntary Wind-Up
----------------------------------------------
On Sept. 30, 2012, the sole shareholder of Platinum River Growth
Fund I resolved to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
Nov. 26, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         Patrik Vonmoos
         Wiedingstrasse 98
         8045 Zurich
         Switzerland
         Telephone: +41 43 333 0551
         Facsimile: +41 44 450 1536


PRG MANAGEMENT: Placed Under Voluntary Wind-Up
----------------------------------------------
On Sept. 30, 2012, the sole shareholder of PRG Management Ltd.
resolved to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
Nov. 26, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         Patrik Vonmoos
         Wiedingstrasse 98
         8045 Zurich
         Switzerland
         Telephone: +41 43 333 0551
         Facsimile: +41 44 450 1536


RP FINANCE IV: Commences Liquidation Proceedings
------------------------------------------------
On Oct. 25, 2012, the members of RP Finance IV resolved to
voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Dec. 17, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         David Dyer
         Deutsche Bank (Cayman) Limited
         PO Box 1984, Boundary Hall
         Cricket Square, 171 Elgin Avenue
         Grand Cayman KY1-1104
         Cayman Islands


RP FINANCE VI: Commences Liquidation Proceedings
------------------------------------------------
On Oct. 25, 2012, the members of RP Finance VI resolved to
voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Dec. 17, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         David Dyer
         Deutsche Bank (Cayman) Limited
         PO Box 1984, Boundary Hall
         Cricket Square, 171 Elgin Avenue
         Grand Cayman KY1-1104
         Cayman Islands


UNIVERSITY COMMUNITY: Commences Liquidation Proceedings
-------------------------------------------------------
On Oct. 24, 2012, the shareholder of University Community Health
Insurance Company SPC, Ltd. resolved to voluntarily liquidate the
company's business.

Only creditors who were able to file their proofs of debt by
Dec. 5, 2012, will be included in the company's dividend
distribution.

The company's liquidator is:

         Ian D. Stokoe
         c/o Aaron Gardner
         Telephone: (345) 914 8655
         Facsimile: (345) 945 4237
         PO Box 258 Grand Cayman KY1-1104
         Cayman Islands



===================
C O S T A   R I C A
===================


* COSTA RICA: Gets $100MM Contingent Loan to Cope With Disasters
----------------------------------------------------------------
The Inter-American Development Bank (IDB) has approved a $100
million contingent loan to help Costa Rica cushion the impact that
severe or catastrophic natural disasters could have on its public
finances.

Due to its geographic location, the country is highly exposed to
meteorological and geophysical threats such as earthquakes,
floods, and hurricanes.

"In the past 40 years alone, Costa Rica has experienced 53 natural
disasters of various types and has suffered economic losses in
excess of $1.10 billion that affected 1.7 million people," said
project team leader Juan Jos‚ Durante.  "In addition, it is the
world's second most vulnerable country to multiple threats, with
37 percent of its total area vulnerable to three or more types of
natural disasters," he added.

The operation will provide Costa Rica with contingent financing to
deal with extraordinary public expenditures brought about by a
natural emergency.

Typical expenditures include medical equipment; vaccines and
medications; facilities and equipment for temporary shelters; food
for affected populations; costs associated with emergency
personnel needed to assist victims; short-term renting of
equipment and facilities for power, transportation,
communications, and storage; and temporary rehabilitation of
infrastructure and measures needed to restore basic services
immediately after the disaster.

The loan, from the Bank's Contingent Credit Facility for Natural
Disaster Emergencies, is for a 25-year term, with a 5-1/2-year
grace period, and a variable interest rate based on LIBOR.



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


AES ANDRES: S&P Affirms 'B' Issuer Credit Rating; Outlook Stable
----------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B' issuer credit
rating on Dominican Republic-based electric power generator AES
Andres Dominicana. The outlook remains stable.

"The rating on power generator AES Andres Dominicana reflects the
challenges of operating in the Dominican Republic's (B+/Stable/B)
electric power industry, the country's weak regulatory framework,
and an inefficient and highly subsidized distribution sector with
uncertain long-term operational and financial sustainability. In
particular, the cash flow generation of energy generating
companies is exposed to the weak collection rates and payment
delays from the distribution companies," S&P said.

"The rating also considers the power sector's dependence on the
sovereign's ability to keep subsidizing the sector and the
economy, which may be affected in an economic stress scenario,"
S&P said.


COLUMBUS INTERNATIONAL: S&P Affirms 'B' CCR on Continued Revenue
----------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B' corporate
credit rating and debt rating on Barbados-based communications
company Columbus International Inc. The outlook is stable. "We
also affirmed our 'B' rating on the company's 11.5% senior secured
notes," S&P said.

"The 'B' rating on Columbus reflects its weak business risk and
highly leveraged financial risk profiles, the competitive
environment in the telecommunications industry in the regions
where it operates, its exposure to foreign-exchange risk
(partially mitigated by U.S. dollar-denominated rvenues), its
exposure to regulatory and license renewal risk, the rapid pace
of technological change in its capital-intensive industry, and its
2014 bond maturity. Positive factors include Columbus'
technologically advanced subsea cable network throughout the Pan-
Caribbean region, favorable growth prospects in its operating
markets because of low penetration, geographic diversification in
Latin America, and U.S. dollar-denominated revenues, which
partially mitigate the foreign-exchange exposure. We assess the
company's management as 'fair,'" S&P said.

"Columbus is a diversified Caribbean communications company whose
core operating business consists of providing cable television
services, high speed internet access, digital phone and internet
infrastructure services, and the sale and lease of the telecom
capacity provided by an undersea fiber optic cable network. The
company is managed under two operating businesses: Columbus
Networks (that includes the Columbus Business Solutions segment)
and Flow (Retail Broadband Services)," S&P said.

"The stable outlook reflects our expectation of double-digit
revenue growth in 2013 and beyond and gradual improvement of
credit metrics," S&P said.

"We would likely raise the ratings if the company meets our
expectation for revenue growth by maintaining EBITDA margins of
around 45%, an adequate cash position, and its ability to
refinance its 2014 bond before the scheduled maturity date," said
Standard & Poor's credit analyst Marcela Duenas. "Conversely we
could take a negative rating action if capital expenditures, a
major acquisition, or operating weakness erodes its cash position
or if we do not see any evidence of a plan to refinance its 2014
maturity ahead of time."


EMPRESA GENERADORA HAINA: S&P Raises Issuer Credit Rating to 'B'
----------------------------------------------------------------
Standard & Poor's Ratings Services raised its rating on Dominican
Republic-based electric power generator Empresa Generadora de
Electricidad Haina S.A. to 'B' from 'B-'. The outlook remains
stable.

"The rating action reflects improvement in the company's operating
and financial risk profiles, because it has diversified its
customer base and energy sources," said Standard & Poor's credit
analyst Monica Ponce.

"Our ratings on EGE Haina and its special-purpose financing
entity, Haina Finance S.A., consider the challenges of operating
in the Dominican Republic's (B+/Stable/B) electric power industry,
its weak regulatory framework, and an inefficient and highly
subsidized distribution sector with uncertain long-term
operational and financial sustainability. In particular, the cash
flows of energy generating companies are susceptible to weak
collection rates and payment delays from the distribution
companies. The rating also considers the power sector's dependence
on the sovereign's ability to keep subsidizing the sector and the
economy, which may be affected in an economic stress scenario,"
S&P said.

"The ratings also incorporate our opinion that there is a low
likelihood of timely and sufficient extraordinary support from the
Dominican Republic to EGE Haina in the event of financial
distress. In accordance with our criteria for government-related
entities, we assess EGE Haina as having limited importance to the
government's key economic and political objectives and a limited
link to the government (given the latter's low level of
involvement in the company's strategy and day-to-day operations
and its lack of controlling rights). The Haina Investment Co.
(HIC; not rated) owns 50% of the company, and the Dominican
government owns the remaining 50%," S&P said.


EMPRESA GENERADORA ITABO: S&P Affirms 'B-' ICR on Better Finances
-----------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B-' issuer credit
rating on Dominican Republic-based electric power generator
Empresa Generadora de Electricidad Itabo S.A.  The outlook remains
stable.

"Our ratings on Itabo reflect the challenges of operating in the
Dominican Republic's (B+/Stable/B) electric power industry, the
country's weak regulatory framework, and an inefficient and highly
subsidized distribution sector with uncertain long-term
operational and financial sustainability. In particular, weak
collection rates and payment delays from the distribution
companies expose cash flow generation for energy generating
companies. The rating also considers the power sector's dependence
on the sovereign's ability to keep subsidizing the sector and the
economy, which may be affected in an economic stress scenario,"
S&P said.

"The rating incorporates our opinion that there is a low
likelihood of timely and sufficient extraordinary support from the
Dominican Republic (B+/Stable/B) to Itabo in the event of
financial distress. In accordance with our criteria for
government-related entities (GREs), our view reflects our
assessment of Itabo's limited importance to the government's key
economic and political objectives and its minority ownership of
the company with no effective control rights. The AES Corp.'s (BB-
/Stable/--) subsidiaries own 50% of the company, the Dominican
government owns 49.97%, and former state employees own 0.03%," S&P
said.



===============================
T R I N I D A D  &  T O B A G O
===============================


PETROTRIN: Signs $7 Billion Agreement
-------------------------------------
Carla Bridglal at Trinidad Express reports that Trinidad and
Tobago Ministry of Energy has awarded Petroleum Company of
Trinidad and Tobago two exploration and production licenses for
Trinmar acreages Trinidad Northern Areas Block (TNA) and the North
Marine Block.

Both parties signed the license agreement at the Ministry's
offices in Tower C, International Waterfront Centre, Wrightson
Road, Port of Spain, according to Trinidad Express.  The report
relates that as part of the agreement, Petrotrin is expected to
invest almost $7 billion in the two acreages between 2013 and
2017.

Trinidad Express notes that the licenses, negotiations for which
took several months, provide for new work programs, signature and
commerciality bonuses, technical equipment, environmental and
other bonuses and abandonment provisions.  They provide for a term
of six years to execute the exploration programs and the
development of existing field areas, the report says.

Trinidad Express relays that Energy Minister Kevin Ramnarine said
it was a "historic" occasion, as the licenses were being renewed
after almost 30 years.

The report discloses that Mr. Ramnarine added that his first duty
for the New Year 2013 will be to present a new Oil Spill
Contingency Plan for Cabinet approval.

The previous plan was developed in 1977, when there were only two
companies, Amoco and Trinmar, out doing drilling, Mr. Ramnarine
said, the report notes.

Now, there are several companies operating and a heightened
awareness since the catastrophic BP Gulf of Mexico oil spill in
2010, the report adds.

Petroleum Company of Trinidad and Tobago is the major state-owned
oil company in Trinidad and Tobago.  The company was established
in 1993 by the merger of Trintopec and Trintoc, two state-owned
oil companies.  Petrotrin's main holdings are extensive, mature
onshore fields located across southern Trinidad.  Large areas
have been leased out to small private producers who are able to
make a profit on wells that are unprofitable for Petrotrin,
giving it higher labor costs.  The company operates a refinery at
Pointe-Pierre, just north of San Fernando in south Trinidad.
Most crude petroleum produced in Trinidad is exported without
being refined. The refinery depends on imported crude (mostly
from Venezuela), which is either used domestically or exported.

                         *     *     *

As reported in the Troubled Company Reporter-Latin America on
June 9, 2010, Trinidad Express related that four members of
Petrotrin submitted their resignation letters.  According to the
report, Malcom Jones resigned as chairman of Petrotrin and from
the State boards.  The report related board members Lawford
Dupres, who chaired the National Petroleum board, attorney Kerwin
Garcia and Andrew McIntosh had also resigned.  Prime Minister
Kamla Persad-Bissessar, the report noted, said that Cabinet had
ordered a forensic audit of Petrotrin as there were "grounds for
suspicion of misconduct" at Petrotrin similar to what may have
transpired at special-purpose State enterprise UDeCOTT.  The
report said that the company was experiencing serious financial
difficulties resulting in high cost overruns of its refinery
upgrade.   The situation was exacerbated by a US$12 billion
lawsuit by World GTL Inc. against Petrotrin, the report added.



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


* LATAM: Economies Performed Strongly in 2012, Face Challenges
--------------------------------------------------------------
The economies of Latin America and the Caribbean have performed
strongly in the face of a challenging external environment, Inter-
American Development Bank President Luis Alberto Moreno said, but
the region needs to continue to pursue key reforms to ensure
growth in the future.

In year-end remarks to the IDB's Board of Executive Directors,
Moreno summarized the region's challenges, the institution's
performance over the past year and its priorities going forward.

He noted that Latin America's unemployment rate is at a historic
low and over the past decade 58 million citizens of the region
have risen above the poverty line.  One in three Latin Americans
is now part of the middle class.

"The main indicators paint a tranquil picture that is welcome and
shows we are doing things right," he said.

The region, boosted by high commodity prices, continued to grow
its trade with the world.  Trade with Asia has been especially
noteworthy, growing at a 20 percent annual rate since 2000 to
total an estimated $442 billion in 2012.

However, many challenges remain. Sixty-six million Latin Americans
earn too little money to meet their daily needs.  And trade among
Latin American and Caribbean countries is still too low, at 19
percent of overall trade, presenting a strong growth opportunity
looking ahead.

"We must focus our vision of the future on those areas that will
enable us to maintain a diversified productive base, build our
capacity for innovation, and successfully compete on a rapidly
evolving planet," Moreno said.  "Nothing produces greater returns
than investments in building social capital."

He urged countries to lower their country costs by investing in
infrastructure.  "We must also work to break down financial,
bureaucratic, and information-related barriers," he said.  "We
should pave the way for private initiative to flourish, so that we
can take advantage of better international positioning that is not
only desirable, but inevitable."

Moreno said the IDB continued on its path to build best practices
into its operational and administrative management, bolstering
transparency, accountability and financial mechanisms.  He said it
was now standard practice at the IDB to assess whether projects
can measure their expected results using rigorous evaluation
methods during their preparation phase.

                          The IDB in 2012

In 2012, the IDB approved new financing mechanisms to help
countries cope with natural disasters and safeguard the effects of
economic crises.

The IDB approved 170 operations in 2012 for a total of $11.5
billion. This included 44 projects for non-sovereign guarantees,
which finance private sector projects, for $1.5 billion.
Reflecting strong demand for IDB products and services, average
approvals have nearly doubled over the past five years in relation
to the previous five years.  A full 44 percent of the approvals
went to small and vulnerable countries, and nearly half went to
infrastructure projects.

The IDB also provided $871 million in grant financing --up 29
percent from 2011 -- with growing contributions by member
countries to create a climate fund for the private sector and
provide additional resources for the Mesoamerican Health
Initiative, Clean Technology Fund, Multidonor Fund for Regional
Integration Initiatives, and the Transparency Fund.


Upcoming Meetings, Conferences and Seminars
---------------------------------------------
Jan. 24-25, 2013
   AMERICAN BANKRUPTCY INSTITUTE
      Rocky Mountain Bankruptcy Conference
         Four Seasons Hotel Denver, Denver, Colo.
            Contact:   1-703-739-0800; http://www.abiworld.org/

Feb. 7-9, 2013
   AMERICAN BANKRUPTCY INSTITUTE
      Caribbean Involvency Symposium
         Eden Roc Renaissance, Miami Beach, Fla.
            Contact:   1-703-739-0800; http://www.abiworld.org/

Feb. 17-19, 2013
   AMERICAN BANKRUPTCY INSTITUTE
      Advanced Consumer Bankruptcy Practice Institute
         Charles Evans Whittaker Courthouse, Kansas City, Mo.
            Contact:   1-703-739-0800; http://www.abiworld.org/

Feb. 20-22, 2013
   AMERICAN BANKRUPTCY INSTITUTE
      VALCON
         Four Seasons Las Vegas, Las Vegas, Nev.
            Contact:   1-703-739-0800; http://www.abiworld.org/

Apr. 10-12, 2013
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Spring Conference
         JW Marriott Chicago, Chicago, Ill.
            Contact: http://www.turnaround.org/

Apr. 18-21, 2013
   AMERICAN BANKRUPTCY INSTITUTE
      Annual Spring Meeting
         Gaylord National Resort & Convention Center,
         National Harbor, Md.
            Contact:   1-703-739-0800; http://www.abiworld.org/

June 13-16, 2013
   AMERICAN BANKRUPTCY INSTITUTE
      Central States Bankruptcy Workshop
         Grand Traverse Resort, Traverse City, Mich.
            Contact:   1-703-739-0800; http://www.abiworld.org/

July 11-13, 2013
   AMERICAN BANKRUPTCY INSTITUTE
      Northeast Bankruptcy Conference
         Hyatt Regency Newport, Newport, R.I.
            Contact:   1-703-739-0800; http://www.abiworld.org/

July 18-21, 2013
   AMERICAN BANKRUPTCY INSTITUTE
      Southeast Bankruptcy Workshop
         The Ritz-Carlton Amelia Island, Amelia Island, Fla.
            Contact:   1-703-739-0800; http://www.abiworld.org/

Aug. 8-10, 2013
   AMERICAN BANKRUPTCY INSTITUTE
      Mid-Atlantic Bankruptcy Workshop
         Hotel Hershey, Hershey, Pa.
            Contact:   1-703-739-0800; http://www.abiworld.org/

Aug. 22-24, 2013
   AMERICAN BANKRUPTCY INSTITUTE
      Southwest Bankruptcy Conference
         Hyatt Regency Lake Tahoe, Incline Village, Nev.
            Contact:   1-703-739-0800; http://www.abiworld.org/

Oct. 3-5, 2013
   TURNAROUND MANAGEMENT ASSOCIATION
      TMA Annual Convention
         Marriott Wardman Park, Washington, D.C.
            Contact: http://www.turnaround.org/

Nov. 1, 2013
   AMERICAN BANKRUPTCY INSTITUTE
      NCBJ/ABI Educational Program
         Atlanta Marriott Marquis, Atlanta, Ga.
            Contact:   1-703-739-0800; http://www.abiworld.org/

Dec. 2, 2013
   BEARD GROUP, INC.
      19th Annual Distressed Investing Conference
          The Helmsley Park Lane Hotel, New York, N.Y.
          Contact:   240-629-3300 or http://bankrupt.com/

Dec. 5-7, 2013
   AMERICAN BANKRUPTCY INSTITUTE
      Winter Leadership Conference
         Terranea Resort, Rancho Palos Verdes, Calif.
            Contact:   1-703-739-0800; http://www.abiworld.org/

The Meetings, Conferences and Seminars column appears in the
Troubled Company Reporter each Wednesday.  Submissions via
e-mail to conferences@bankrupt.com are encouraged.


                            ***********


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., Washington, D.C.,
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 2013.  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$775 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 A. Chapman at 215-945-7000 or Nina Novak at
202-241-8200.


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