TCRLA_Public/130107.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

           Monday, January 7, 2013, Vol. 14, No. 4


                            Headlines



A R G E N T I N A

* ARGENTINA: Power Firms Seek to Raise Revenue, Nacion Says


B A G O T A

EMPRESA DE TELECOMUNICACIONES: Moody's Rates US$30MM Notes 'Ba1'


B A R B A D O S

LIME: Cuts 97 Jobs in Barbados on Substantial Losses


B E R M U D A

AG MANAGEMENT: Member Receives Wind-Up Report
BARENTSEN LTD: Members Receive Wind-Up Report
JERICHO HOLDINGS: Member Receives Wind-Up Report
LAZARD GLOBAL: Member Receives Wind-Up Report
WABCO FINANCE: Member Receives Wind-Up Report


C A Y M A N  I S L A N D S

ACAL LIMITED: Members Receive Wind-Up Report
BARKERSFIELD LIMITED: Member Receives Wind-Up Report
BLACK FLAMINGO: Members Receive Wind-Up Report
CAPITAL S FUND: Shareholders Receive Wind-Up Report
CHAM X LIMITED: Members Receive Wind-Up Report

CJ 2002A: Shareholder Receives Wind-Up Report
EMU PARK: Shareholder Receives Wind-Up Report
EXELION GLOBAL: Shareholder Receives Wind-Up Report
FIVE OCEANS: Shareholder Receives Wind-Up Report
FORUM GROUP II: Shareholders Receive Wind-Up Report

MUSICAL HARMONY: Sole Member to Hear Wind-Up Report on Dec. 17
NLA HOLDINGS: Shareholder Receives Wind-Up Report
NORTH YARD: Shareholder Receives Wind-Up Report
NORTHWARD CAPITAL: Shareholders Receive Wind-Up Report
OLYMPIA SPECIAL: Shareholders Receive Wind-Up Report

OLYMPIA STAR I: Shareholders Receive Wind-Up Report
OLYMPIA STAR I 2007  : Shareholders Receive Wind-Up Report
WEXFORD GLOBAL: Shareholders Hear Wind-Up Report
WISE ACRE: Members Receive Wind-Up Report
ZZ FUTURES: Shareholder Receives Wind-Up Report


E L  S A L V A D O R

DIGICEL GROUP: To Invest US$40 Million in El Salvador


P U E R T O   R I C O

EMPRESAS OMAJEDE: Case Summary & 20 Largest Unsecured Creditors
HOSPITAL DAMAS: Court Rejects Alverio Diaz, Ortiz Claims
INT'L HOME PRODUCTS: Court Won't Stay Foreclosure Order
PUERTO DEL REY: Case Summary & 20 Largest Unsecured Creditors
SWISS CHALET: Employment Discrimination Action Already Stayed


X X X X X X X X

* BOND PRICING: For the Week Dec. 31 to Jan. 4, 2013


                            - - - - -


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


* ARGENTINA: Power Firms Seek to Raise Revenue, Nacion Says
-----------------------------------------------------------
Camila Russo at Bloomberg News, citing the newspaper La Nacion,
reports that some Argentine power companies sent letters to the
government last month asking for a change in the regulatory
framework which caps rates.

Electricity companies including Central Puerto SA, Endesa
Costanera S.A. and Central Termica Loma de la Lata SA told
Deputy Economy Minister Axel Kicillof they need higher revenue to
afford salary increases for their unions, La Nacion reported,
according to Bloomberg News.

The report relates that the Argentine government has kept caps on
utility rates since the country's 2002 financial crises, La Nacion
said.

Companies filed for bankruptcy protection and others left the
country as inflation at an estimated 25% caused costs to rise
faster than revenue, Bloomberg News says.



===========
B A G O T A
===========


EMPRESA DE TELECOMUNICACIONES: Moody's Rates US$30MM Notes 'Ba1'
----------------------------------------------------------------
Moody's Investors Service assigned a Ba1 rating to Empresa de
Telecomunicaciones de Bogota (ETB)'s proposed senior unsecured
global notes for an amount up to US$300 million in US dollars or
equivalent in Colombian pesos. Simultaneously, Moody's assigned a
Ba1 Corporate Family Rating to ETB and withdrew its Baa3 long term
issuer rating. The ratings outlook is negative. Proceeds from the
notes will be used for growth capex. The ratings assume that final
terms and conditions on the notes will not materially change from
those reviewed by Moody's.

Ratings Rationale

The effective ratings downgrade was based on the increasingly
competitive environment that will weaken ETB's operating
performance, with negative effect on its credit profile, as well
as the challenges it faces in executing its new, expansionary
business strategy.

ETB's Ba1 ratings and the negative outlook reflect the application
of Moody's methodologies for government-related issuer (GRI) and
joint default analysis, with the expectation of high default
correlation and a moderate expected level of support by the City
of Bogota in the event of financial stress. Underlying the rating
is a baseline credit assessment (BCA) of ba for the company. The
BCA reflects ETB's dominant fixed line and broadband market
position in Bogot , and its low financial leverage. The BCA is
constrained by ETB's large capex program for the next several
years, which will impact its free cash flow generation. The BCA is
also constrained by the risks associated with the expansion of
mobile and pay TV services, which carry lower operating margins
than voice services, and will compete with larger and better
capitalized operators. ETB's BCA considers the company's modest
size compared to its global peers, the risk of political
interference, and the competitive nature of the Colombian telecom
industry. The ratings assume that the company will hedge its
foreign exchange exposure arising from foreign currency interest
payments on its proposed bonds.

The negative ratings outlook incorporates an increase in debt
related to the proposed notes; declining revenues; and a reduction
in ETB's operating margins given strong competitive pressures. The
negative outlook also reflects uncertainties as to the timeframe
in which its operating profitability can be restored.

The Ba1 ratings could be downgraded if pressures from competitors,
including wireline, wireless, cable TV players as well as
alternative technologies such as IP telephony, result in lower
than anticipated revenue growth, EBITDA margins, and higher
working capital needs. In addition, if ETB's adjusted EBITDA
margin falls to below 40% or if adjusted leverage increases to
close to 3 times, its rating could come under pressure. ETB's
ratings could also be downgraded if Moody's believes that the
current strong support level from the City of Bogota declines or
if liquidity weakened.

A ratings upgrade is unlikely in the medium term because of the
competitive environment in which ETB operates and the execution
risk related to its business strategy, which places pressure on
revenues, margins and credit protection metrics. However, if ETB
turns out to be better able to combat competitive pressures than
anticipated and to execute its business strategy successfully, as
demonstrated by stable broadband market share and improving
operating margin, the ratings outlook could be stabilized. In
order to consider a positive rating action, Moody's would need to
ascertain management and shareholder commitment to maintaining the
company's conservative financial strategy consistent with an
investment grade rating.

ETB's liquidity is adequate pro forma for the proposed notes,
capex and maybe some dividends. As of September 30, 2012, the
company's COP485 billion in cash favorably compared to COP3
billion in short-term debt. The company has no committed credit
facilities but since its assets are unencumbered, it should be
able to pledge or sell certain properties or stake holdings to
raise cash.

For the period from 2013 to 2015, the company anticipates
investing approximately US$370 million per year in capital
expenditures necessary to implement its investment plan. It
estimates that about 64% of its capital expenditures during this
period will be denominated in U.S. dollars, while the remaining
36% will be denominated in Colombian pesos. The company plans to
mitigate the FX risk related to capex by entering into FX forward
contracts and other hedging arrangements to hedge a portion of
this risk and invest cash from operations in cash equivalents
denominated in U.S. dollars or linked to the U.S. dollar to hedge
the remaining portion of such risk.

The principal methodology used in rating ETB was the Global
Telecommunications Industry Methodology published in December
2010.

Owned by the City of Bogota, ETB is an incumbent wireline service
provider of local and long distance telephone services, Internet
services to residential subscribers and data services to
corporations mainly in the City of Bogota. It also offers pay TV
and mobile services. Moody's anticipates that, in 2012, local
telephony was the main income generator, representing about 47% of
total revenues; Internet & data services represented 38%; and long
distance 8%. During the last twelve months ending on September 30,
2012, ETB generated approximately US$756 million in revenues and
US$445 million in adjusted EBITDA, which includes Moody's
adjustments for provisions and operating leases, among others.



===============
B A R B A D O S
===============


LIME: Cuts 97 Jobs in Barbados on Substantial Losses
----------------------------------------------------
RJR News reports that Barbados' main telecommunication service
provider LIME on Wednesday made 97 positions redundant with
immediate effect.

Lamenting poor customer service and substantial losses, Managing
Director Alex McDonald said the company had no choice but to make
critical business changes, one of which was to reduce its retail
business and invest in new technologies, according to RJR News.

The report relates that in relation to the technological changes
due to be implemented shortly, Mr. McDonald said LIME had been
investing heavily in the last few months in its outside plants and
in the technical performance of its business.

LIME -- Landline, Internet, Mobile and Entertainment -- is a
communications company.  LIME is the Caribbean division of Cable
& Wireless Communications (CWC).  LIME territories include
Jamaica, Barbados, St.Lucia, St.Vincent, Grenada, Dominica,
Cayman, Antigua, Anguilla, Montserrat, St.Kitts & Nevis , Turks &
Caicos.



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


AG MANAGEMENT: Member Receives Wind-Up Report
---------------------------------------------
The member of AG Management Limited received on Dec. 24, 2012, the
liquidator's report on the company's wind-up proceedings and
property disposal.

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

The company's liquidator is:

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


BARENTSEN LTD: Members Receive Wind-Up Report
---------------------------------------------
The members of Barentsen Ltd. received on Dec. 27, 2012, the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company commenced wind-up proceedings on Nov. 19, 2012.

The company's liquidator is:

         Mark A. C. Diel
         Marshal Diel & Myers
         31 Reid Street
         Hamilton HM 12
         Bermuda


JERICHO HOLDINGS: Member Receives Wind-Up Report
------------------------------------------------
The member of Jericho Holdings Ltd. received on Dec. 28, 2012, the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company commenced wind-up proceedings on Nov. 19, 2012.

The company's liquidator is:

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


LAZARD GLOBAL: Member Receives Wind-Up Report
---------------------------------------------
The member of Lazard Global Classic Value Long/Short, Ltd.
received on Dec. 5, 2012, the liquidator's report on the company's
wind-up proceedings and property disposal.

The company commenced wind-up proceedings on Nov. 20, 2012.

The company's liquidator is:

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


WABCO FINANCE: Member Receives Wind-Up Report
---------------------------------------------
The member of WABCO Finance Ltd. received on Dec. 24, 2012, the
liquidator's report on the company's wind-up proceedings and
property disposal.

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

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
==========================


ACAL LIMITED: Members Receive Wind-Up Report
--------------------------------------------
The members of ACAL Limited received on Nov. 28, 2012, the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Angus Patrick Murray
         c/o Maples and Calder, Attorneys-at-law
         P.O. Box 309, Ugland House
         Grand Cayman KY1-1104
         Cayman Islands


BARKERSFIELD LIMITED: Member Receives Wind-Up Report
----------------------------------------------------
The member of Barkersfield Limited received on Dec. 10, 2012, the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Lion International Management Limited
         Craigmuir Chambers
         Road Town, Tortola
         British Virgin Islands


BLACK FLAMINGO: Members Receive Wind-Up Report
----------------------------------------------
The members of Black Flamingo Limited received on Nov. 22, 2012,
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


CAPITAL S FUND: Shareholders Receive Wind-Up Report
---------------------------------------------------
The shareholders of Capital S Fund received on Dec. 7, 2012, the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Fides Limited
         P.O. Box 10338 Grand Cayman KY1-1003
         Cayman Islands
         Telephone: 345-949-7232


CHAM X LIMITED: Members Receive Wind-Up Report
----------------------------------------------
The members of Cham X Limited received on Nov. 22, 2012, 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


CJ 2002A: Shareholder Receives Wind-Up Report
---------------------------------------------
The shareholder of CJ 2002A Limited received on Dec. 10, 2012, the
liquidators' report on the company's wind-up proceedings and
property disposal.

The company's liquidators are:

         Samit Ghosh
         Denise Sevilla
         Telephone: 949-7755
         Facsimile: 949-7634


EMU PARK: Shareholder Receives Wind-Up Report
---------------------------------------------
The shareholder of Emu Park Fund (CR-149097) received on Dec. 7,
2012, the liquidator's report on the company's wind-up proceedings
and property disposal.

The company's liquidator is:

         Simon Atkinson
         Telephone: 81-03-5114-1296
         Facsimile: 81-03-5114-1150


EXELION GLOBAL: Shareholder Receives Wind-Up Report
---------------------------------------------------
The shareholder of Exelion Global Macro Limited received on
Dec. 7, 2012, the liquidator's report on the company's wind-up
proceedings and property disposal.

Intertrust Corporate Services (Cayman) Limited is the company's
liquidator.


FIVE OCEANS: Shareholder Receives Wind-Up Report
------------------------------------------------
The shareholder of Five Oceans (Global Master) Fund received on
Dec. 7, 2012, the liquidator's report on the company's wind-up
proceedings and property disposal.

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


FORUM GROUP II: Shareholders Receive Wind-Up Report
---------------------------------------------------
The shareholders of Forum Group II Ltd. received on Dec. 3, 2012,
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Dean C. Desantis
         799 Sanctuary Drive, Boca Raton
         Florida 33431
         USA
         Telephone: +1 561 447 9055
         Facsimile: +1 561 447 9035
         87 Mary Street, George Town
         Grand Cayman KY1-9002
         Cayman Islands
         c/o Jennifer Chailler
         Telephone: (345) 814 6847


MUSICAL HARMONY: Sole Member to Hear Wind-Up Report on Dec. 17
--------------------------------------------------------------
The sole member of Musical Harmony Investment Limited will receive
on Dec. 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:

         Lion International Management Limited
         Craigmuir Chamber
         P.O. Box 71 Road Town
         Tortola
         British Virgin Islands


NLA HOLDINGS: Shareholder Receives Wind-Up Report
-------------------------------------------------
The shareholder of NLA Holdings (Cayman) Ltd received on Dec. 7,
2012, the liquidator's report on the company's wind-up proceedings
and property disposal.

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


NORTH YARD: Shareholder Receives Wind-Up Report
-----------------------------------------------
The shareholder of North Yard Capital Master Fund Ltd. received on
Dec. 6, 2012, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Ogier
         c/o Joanne Steven
         Telephone: (345) 815 1895
         Facsimile: (345) 949-9877


NORTHWARD CAPITAL: Shareholders Receive Wind-Up Report
------------------------------------------------------
The shareholders of Northward Capital European Fund Ltd received
on Nov. 30, 2012, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Hugh Dickson
         c/o John Royle
         PO Box 765 10 Market Street, Camana Bay
         Grand Cayman KY1-9006
         Cayman Islands
         Telephone: (345) 769 7206
         Facsimile: (345) 949 7120


OLYMPIA SPECIAL: Shareholders Receive Wind-Up Report
----------------------------------------------------
The shareholders of Olympia Special Opportunities Fund Limited
received on Dec. 12, 2012, the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

         Newington Ltd.
         c/o J. Andrew Murray
         Telephone: 345 949 9710
         P.O. Box 2075, 31 The Strand
         Grand Cayman KY1-1105
         Cayman Islands


OLYMPIA STAR I: Shareholders Receive Wind-Up Report
---------------------------------------------------
The shareholders of Olympia Star I Enhanced Ltd. received on
Dec. 12, 2012, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Newington Ltd.
         c/o J. Andrew Murray
         Telephone: 345 949 9710
         P.O. Box 2075, 31 The Strand
         Grand Cayman KY1-1105
         Cayman Islands


OLYMPIA STAR I 2007  : Shareholders Receive Wind-Up Report
----------------------------------------------------------
The shareholders of Olympia Star I 2007 Series Ltd. received on
Dec. 12, 2012, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

         Newington Ltd.
         J. Andrew Murray
         Telephone: 345 949 9710
         P.O. Box 2075, 31 The Strand
         Grand Cayman KY1-1105
         Cayman Islands


WEXFORD GLOBAL: Shareholders Hear Wind-Up Report
------------------------------------------------
The shareholders of Wexford Global Strategies Trading Limited
received on Dec. 17, 2012, the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

         Robert Holtz
         411 West Putnam Avenue, Suite 125
         Connecticut
         CT 06830
         U.S.A.


WISE ACRE: Members Receive Wind-Up Report
-----------------------------------------
On Nov. 27, 2012, the members of Wise Acre Limited received the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Varun Bery
         Unit A, 8th Floor, World Trust Tower
         50 Stanley Street, Central
         Hong Kong


ZZ FUTURES: Shareholder Receives Wind-Up Report
-----------------------------------------------
The shareholder of ZZ Futures Ltd. received on Dec. 7, 2012, the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Ogier
         c/o Jo-Anne Maher
         Telephone: (345) 815-1762
         Facsimile: (345) 949-9877



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


DIGICEL GROUP: To Invest US$40 Million in El Salvador
-----------------------------------------------------
RJR News reports that Denis O'Brien, Chairman of Digicel Group
said the company may invest more than US$40 million in El Salvador
over the next 18 months.

Mr. O'Brien's comments come in the wake of the decision by the
regulator in El Salvador to block Digicel Group's plan to sell its
business to a group owned by Mexican entrepreneur Carlos Slim,
according to RJR News.

The report relates that Mr. O'Brien said that the expansion plans
will focus on improving data and customer services.  RJR News
notes that Mr. O'Brien also expressed an interest in moving into
the country's fixed-line business.

In rejecting Digicel Group's planned sale to America Movil, the
regulator said a technical, legal and economic analysis showed a
merger would likely have an adverse effect on competition and the
welfare of consumers in the fixed and mobile telephony markets,
the report relays.

The intended sale to America Movil was part of a three-legged
arrangement whereby Digicel Group would also sell its business in
Honduras to America Movil and America Movil would sell its
business in Jamaica to Digicel Group, the report notes.

The Honduran and Jamaican deals received regulatory approval and
in Jamaica, the transfer of America Movil's Claro operations to
Digicel was completed in 2012, the report adds.

Digicel Group, with regional headquarters in Jamaica, entered the
Panama market in 2008.

                       *     *     *

As reported in the Troubled Company Reporter on Sept. 7, 2012,
Moody's Investors Service assigned a Caa1 rating to Digicel
Group Limited's proposed US$700 million senior unsecured notes due
2020.  Net proceeds will be used to repurchase the entire tranche
of the DGL 9.125%/9.875% senior PIK toggle notes due 2015
(US$415 million outstanding) and a portion of the 8.875% senior
notes due 2015 (US$1 billion outstanding) via tender offers.



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


EMPRESAS OMAJEDE: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Empresas Omajede Inc.
        La Electronica Building, Suite 218,
        1608 Bori Street
        San Juan, PR 00927

Bankruptcy Case No.: 12-10113

Chapter 11 Petition Date: December 21, 2012

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

Debtor's Counsel: Patricia I. Varela, Esq.
                  CHARLES A. CUPRILL, PSC
                  356 Fortaleza Street, Second Floor
                  San Juan, PR 00901
                  Tel: (787) 977-0515
                  Fax: (787) 977-0518
                  E-mail: pvarela@cuprill.com

Scheduled Assets: $5,613,568

Scheduled Liabilities: $98,762,700

A copy of the Company's list of its 20 largest unsecured creditors
filed with the petition is available for free at:
http://bankrupt.com/misc/prb12-10113.pdf

The petition was signed by Antonio Betancourt, president.


HOSPITAL DAMAS: Court Rejects Alverio Diaz, Ortiz Claims
--------------------------------------------------------
Hospital de Damas, Inc., is inching closer to exiting Chapter 11
bankruptcy protection after the bankruptcy judge in Puerto Rico
sustained the hospital operator's objections to, and disallowed,
Claim No. 96-1 filed by Jose O. Alverio Diaz; and Claim No. 97-1,
filed by Carlos M. Ortiz Velazquez.

The creditors were duly noticed of the objections on May 7 and 14,
2012, respectively.  Notices regarding the hearing on objections
were sent out by the Court on July 13, Aug. 8, and Oct. 7, 2012.
On request of the Debtor and counsel Harold Hopkins, the hearing
was continued twice and finally rescheduled and held on Dec. 13,
2012.  The Court noted that the objections to claim have been
pending in the case docket for over seven months.

On the morning of Dec. 13, 2012, hours prior to the rescheduled
hearing, Messrs. Ortiz Velazquez and Alverio Diaz filed their
answer in opposition to the claims objection. At the hearing, the
Debtor's attorney argued against the allowance of the untimely
opposition, emphasizing the fact that the objection had been
pending for over seven months in the case docket.

The Debtor is seeking final decree of the substantial consummation
of the terms of its confirmed Chapter 11 reorganization plan.

According to Bankruptcy Judge Edward A. Godoy, allowing the
creditor's untimely opposition at this juncture would unreasonably
delay the prompt termination of the remaining controversies in the
case.  Allowing the claims after a seven month delay would
prejudice the implementation and execution of the terms of the
confirmed reorganization plan and would add more post confirmation
administrative expenses.  The Court also finds that allowing this
untimely opposition will further delay the entry of the final
decree and disposal of other pending matters in the case.

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

                       About Hospital Damas

Ponce, Puerto Rico-based Hospital Damas, Inc., has operated a
general acute care hospital, providing critical care, general
medical and skilled nursing services.  The Debtor is a wholly
owned subsidiary of Fundacion Damas Inc.

The Company filed for Chapter 11 bankruptcy protection (Bankr. D.
P.R. Case No. 10-08844) on Sept. 24, 2010.  According to its
schedules, the Debtor disclosed US$24,017,166 in total assets and
US$21,267,263 in total liabilities.

Attorneys at Charles A. Cuprill, P.S.C., in San Juan, Puerto
Rico, represent the Debtor as counsel.  Jorge P. Sala Law Offices
serves as the Debtor's labor law special counsel, to be assisted
by special counsel Fiddler, Gonzalez & Rodriguez, P.S.C.
Attorneys at Kilpatrick Townsend & Stockton LLP, in Atlanta, Ga.,
represent the Official Committee of Unsecured Creditors as
counsel.

As reported by the Troubled Company Reporter on June 27, 2012,
Bankruptcy Judge Edward A. Godoy confirmed the Debtor's plan of
reorganization filed on Nov. 4, 2011.  As reported by the TCR on
Dec. 16, 2011, the Plan segregates various claims and shareholder
interest into five classes.  The Class 1 Allowed Claim of Banco
Popular de Puerto Rico for $23,081,328 will be paid in full over
time.  Class 2 Allowed General Unsecured Claims arising from
medical malpractice actions, totaling $1,006,613 as of July 31,
2011, will be paid on a pro rata basis from a self-insured fund to
be established.  Class 3 Other Allowed General Unsecured Claims,
estimated at $6,988,997, is projected to make a 50% recovery from
a creditor trust to be established.  Class 4 Allowed General
Unsecured Claims arising from assumed executory contracts,
estimated at $3,627,259, is estimated to make a 62.9% recovery
through different payment plans negotiated with landlords or
suppliers.  Class 5 Interests will be retained.  A copy of the
First Amended Joint Disclosure Statement is available for free at
http://bankrupt.com/misc/hospitaldamas.dkt819.pdf


INT'L HOME PRODUCTS: Court Won't Stay Foreclosure Order
-------------------------------------------------------
Bankruptcy Judge Enrique S. Lamoutte denied the request of
International Home Products, Inc. and Health Distillers
International, Inc., to stay the implementation of the Court's
Oct. 22, 2012 order that directed the Debtors to turn over to
their secured lender, FirstBank Puerto Rico, the proceeds
generated from certain accounts receivables, which the bank
foreclosed pre-petition, and which consequently, are not property
of the estate.  The Bankruptcy Court held that the Debtors have
failed to establish a likelihood to succeed on the merits or show
irreparable harm.  The Debtors have taken appeal from the Oct. 22
order to the U.S. District Court for the District of Puerto Rico.

A copy of the Court's Dec. 26, 2012 Opinion and Order is available
at http://is.gd/wKDHs0from Leagle.com.

                 About International Home Products

International Home Products, Inc., filed a Chapter 11 bankruptcy
petition (Bankr. D. P.R. Case No. 12-02997) on April 19, 2012.
Health Distillers International, Inc., filed a Chapter 11
bankruptcy petition (Bankr. D. P.R. Case No. 12-03574) on May 7,
2012.

International Home Products is engaged in the sale, financing of
"Lifetime" cookware and other kitchenware as well as sale of
account receivables in the secondary market.  It is the exclusive
distributor of "Lifetime" products in Puerto Rico for over 40
years.

Carmen D. Conde Torres, Esq., in San Juan, P.R., serves as counsel
to the Debtors.  Wigberto Lugo Mendel, CPA, serves as their
accountants.  International Home Products disclosed $66,155,798
and $43,350,031 in liabilities as of the Chapter 11 filing.
Health Distillers International scheduled $4,520,825 in assets,
and $3,024,332 in liabilities.

Secured lender First-Bank Puerto Rico is represented by Manuel
Fernandez-Bared, Esq., and Jane Patricia Van Kirk, Esq., at Toro,
Colon, Mullet, Rivera & Sifre, P.S.C.


PUERTO DEL REY: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Puerto del Rey, Inc.
        aka Marina Puerto del Rey
        P.O. Box 1186
        Fajardo, PR 00738
        Tel: (787) 863-8080

Bankruptcy Case No.: 12-10295

Chapter 11 Petition Date: December 28, 2012

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

Debtor's Counsel: Charles Alfred Cuprill, Esq.
                  CHARLES A. CURPILL, PSC LAW OFFICE
                  356 Calle Fortaleza, Second Floor
                  San Juan, PR 00901
                  Tel: (787) 977-0515
                  E-mail: cacuprill@cuprill.com

Scheduled Assets: $99,835,791

Scheduled Liabilities: $44,352,475

The petition was signed by Daniel W. Shelley, president.

Debtor's List of Its 20 Largest Unsecured Creditors:

        Entity                     Nature of Claim    Claim Amount
        ------                     ---------------    ------------
Ranger American of PR, Inc.        Security Services      $542,933
P.O. Box 29105
San Juan, PR 00929-0105

Puerto Rico Power Authority        Electric Power         $215,073
P.O. Box 36426                     Services
San Juan, PR 00936-4267

PC Puerto Rico, LLC                Purchase of Fuel        $98,622
P.O. Box 71315
San Juan, PR 00936

Departamento de Hacienda de PR     Estimated Corporate     $45,000

Rivera, Tulla & Ferrer             Legal Services          $42,268

Las Flores Ice Plant               Ice for Sale            $21,776

A.A.A.                             Utilities               $20,359

Eastcoast Mechanical               Maintenance              $6,640

Jose Santiago, Inc.                Food and Beverage        $5,172

Editorial La Regata, Inc.          Advertising and          $3,600
                                   Promotion

Conwaste Consolidated Waste        Waste Disposal           $3,442

Marcas Floor Care, Inc.            Maintenance Materials    $1,671

Neptuno Media                      Wifi Support and         $1,575
                                   Maintenance

Yacht Essentials                   Advertising and          $1,350
                                   Promotion

Mendez & Compa¤ia, Inc.            Food and Beverage        $1,343

Steel and Pipes                    Purchase of Material     $1,173

Exuma Technologies                 Dock Master Support      $1,082

AAA Coffee Break                   Coffee Supplies and      $1,065
                                   Employee

Torcos, Inc.                       Cleaning Materials &       $930
                                   Supplies

Ecolab Manifacturing               Restaurant Maintenance     $805
                                   Supplies



SWISS CHALET: Employment Discrimination Action Already Stayed
-------------------------------------------------------------
District Judge Jay A. Garcia-Gregory denied as moot the request of
Swiss Chalet Inc. to impose the automatic stay in an employment
discrimination action brought by Ivan Sotomayor-Serra, a former
"Food and Beverage Director" at Swiss Chalet, pursuant to the
Americans with Disabilities Act, 42 U.S.C. Sec. 12101, et seq.;
the Family and Medical Leave Act and several related state laws.
The judge said the Motion to Stay filed by Swiss Chalet, a co-
defendant in the lawsuit, is not necessary since the automatic
stay is already in place when the Debtor filed for bankruptcy.  A
copy of the Court's Dec. 23, 2012 Memorandum and Order is
available at http://is.gd/yHCX9Hfrom Leagle.com.

The lawsuit is SOTOMAYOR-SERRA, Plaintiff, v. SWISS CHALET INC.,
et al., Defendants, Civil No. 12-1469 (D. P.R.).

                      About The Swiss Chalet

The Swiss Chalet Inc., developed the Gallery Plaza Condominium and
Atlantis Condominium in San Juan, Puerto Rico.  SCI also owns the
DoubleTree Hotel in Condado, San Juan, Puerto Rico, adjacent to
the Gallery Plaza.  SCI filed a Chapter 11 petition (Bankr. D.P.R.
Case No. 11-04414) on May 27, 2011.  Charles A. Cuprill,
P.S.C. Law Offices, in San Juan, P.R., serves as its bankruptcy
counsel.  CPA Luis R. Carrasquillo & Co., P.S.C., serves as its
financial consultants.  In its schedules, the Debtor disclosed
total assets of $115,580,977 and total debts of $138,603,384.  The
petition was signed by Arnold Benus, director.

The Debtor's Joint Amended Plan of Reorganization was confirmed on
Feb. 2, 2012.



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


* BOND PRICING: For the Week Dec. 31 to Jan. 4, 2013
-----------------------------------------------------

Issuer              Coupon    Maturity    Currency      Price
------              ------    --------     --------     -----

ARGENTINA
---------

ARGENT-$DIS           8.28    12/31/2033    USD         63.6
ARGENT-$DIS           8.28    12/31/2033    USD        69.63
ARGENT-$DIS           8.28    12/31/2033    USD        69.63
ARGENT-$DIS           8.28    12/31/2033    USD        70.75
ARGENT-$DIS           8.28    12/31/2033    USD         73.5
ARGENT-PAR            1.18    12/31/2038    ARS        44.91
ARGENT- DIS           7.82    12/31/2033    EUR           45
ARGENT- DIS           7.82    12/31/2033    EUR        59.25
ARGENT- DIS           7.82    12/31/2033    EUR           60
ARGENT- DIS           4.33    12/31/2033    JPY           36
ARGENT- DIS           4.33    12/31/2033    JPY           36
ARGENT- PAR           0.45    12/31/2038    JPY           15
ARGENT- PAR&GDP       0.45    12/31/2038    JPY            8
ARGNT-BOCON PRE9         2    3/15/2014     ARS         51.5
BANCO MACRO SA        9.75    12/18/2036    USD        75.48
BANCO MACRO SA        9.75    12/18/2036    USD        71.88
BANCO MACRO SA        9.75    12/18/2036    USD        71.88
CAPEX SA                10    3/10/2018     USD           71
CAPEX SA                10    3/10/2018     USD        67.88
CIA LATINO AMER        9.5    12/15/2016    USD         65.3
EMP DISTRIB NORT      10.5    10/9/2017     USD        36.85
EMP DISTRIB NORT      9.75    10/25/2022    USD         47.5
EMP DISTRIB NORT      9.75    10/25/2022    USD        44.63
PROV BUENOS AIRE     9.625    4/18/2028     USD        67.04
PROV BUENOS AIRE     9.625    4/18/2028     USD        66.88
PROV BUENOS AIRE     9.375    9/14/2018     USD        73.86
PROV BUENOS AIRE     9.375    9/14/2018     USD        73.75
PROV BUENOS AIRE    10.875    1/26/2021     USD        75.74
PROV DE FORMOSA          5    2/27/2022     USD         65.5
PROV DE MENDOZA        5.5    9/4/2018      USD        70.38
PROV DEL CHACO           4    12/4/2026     USD        30.88
PROV DEL CHACO           4    11/4/2023     USD        57.75
TRANSENER             9.75    8/15/2021     USD        37.75
TRANSENER             9.75    8/15/2021     USD           41
TRANSENER            8.875    12/15/2016    USD         40.5


CAYMAN ISLAND
-------------

BANCO BPI (CI)         4.15   11/14/2035    EUR         59.5
BCP FINANCE CO         4.239                EUR        41.06
BCP FINANCE CO         5.5                  EUR        39.67
BES FINANCE LTD        4.5                  EUR        63.17
BES FINANCE LTD       5.58                  EUR        64.33
CHINA FORESTRY       10.25    11/17/2015    USD        53.88
CHINA FORESTRY       10.25    11/17/2015    USD         54.1
CHINA SUNERGY         4.75    6/15/2013     USD        53.46
EFG HELLAS CAYMA         9    3/8/2019      EUR         70.5
ESFG INTERNATION     5.753                  EUR        50.67
GOL FINANCE           8.75                  USD        65.75
GOL FINANCE           8.75                  USD        65
JINKOSOLAR HOLD          4   5/15/2016      USD        50.19
LDK SOLAR CO LTD      4.75   4/15/2013      USD        63
LDK SOLAR CO LTD        10   2/28/2014      CNY        67.82
LUPATECH FINANCE     9.875                  USD        37.75
LUPATECH FINANCE     9.875                  USD        42
PUBMASTER FIN        6.962   6/30/2028      GBP        62.36
RENHE COMMERCIAL        13   3/10/2016      USD        76.13
SUNTECH POWER            3   3/15/2013      USD        54.38
SUNTECH POWER            3   3/15/2013      USD        53.5


CHILE
-----

ALMENDRAL TEL            3.5 12/15/2014      CLP       42.34
CHILE                    3    1/1/2042       CLP       65.9
CHILE                    3    1/1/2042       CLP       65.9
CHILE                    3    1/1/2040       CLP       67.41
CHILE                    3    1/1/2040       CLP       67.41
COLBUN SA              3.2    5/1/2013       CLP       24.86


PUERTO RICO
-----------

PUERTO RICO CONS       6.5     4/1/2016      USD       67.5


VENEZUELA
---------

PETROLEOS DE VEN       5.5     4/12/2037     USD       72
PETROLEOS DE VEN     5.375     4/12/2027     USD       76.7


                            ***********


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
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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.

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                            ***********


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
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Information contained herein is obtained from sources believed to
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of the same firm for the term of the initial subscription or
balance thereof are US$25 each.  For subscription information,
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202-241-8200.


                   * * * End of Transmission * * *