TCRLA_Public/130219.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

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

             Tuesday, February 19, 2013, Vol. 14, No. 35


                            Headlines



A N T I G U A  &  B A R B U D A

STANFORD INT'L: Accountants Face 20 Years in Prison


A R G E N T I N A

BUENOS AIRES CLOTHES: Applies for Reorganization Proceedings
CASA SARMIENTO: Applies for Reorganization Proceedings
COMERCIAL CATARATAS: Creditors' Proofs of Debt Due March 12
CTEC SRL: Files for Bankruptcy Proceedings
LATIGO SA: Creditors' Proofs of Debt Due April 4

MIREMAR SA: Calls for Opening of Bankruptcy Proceedings
NEUMATICOS DEL INTERIOR: Creditors' Proofs of Debt Due March 1
OPERADORES LOGISTICOS: Applies for Reorganization Proceedings
PALO SANTO: Creditors' Proofs of Debt Due March 11
POLIGRAFICA DEL PLATA: Creditors' Proofs of Debt Due April 11

SIPAN SA: Creditors' Proofs of Debt Due March 15
SUPET SA: Applies for Reorganization Proceedings
* ARGENTINA: NML Capital Wins Court Ok to Demand for Information


B R A Z I L

SANTOS BRASIL: To Face US$1.2MM Loss in Workers' Planned Walkout


C O L O M B I A

INTERBOLSA SA: May Delay Fabricato SA Stake Sale


M E X I C O

ARRENDADORA BX+: Moody's Assigns Ba3 CFR; Outlook is Stable
NATIONAL COMMERCIAL: S&P Puts 'B-/B' ICR on CreditWatch Negative


X X X X X X X X

* Large Companies With Insolvent Balance Sheets



                            - - - - -


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


STANFORD INT'L: Accountants Face 20 Years in Prison
---------------------------------------------------
Laurel Brubaker Calkins, writing for Bloomberg News, reported that
R. Allen Stanford's former chief accounting officer, Gilbert
Lopez, 70, and his former controller, Mark Kuhrt, 40, were
sentenced to 20 years in prison for helping to conceal Stanford's
$7 billion Ponzi scheme.

Bloomberg related that U.S. District Judge David Hittner imposed
the sentences on Feb. 14 in Houston. The men were convicted in
November of conspiring to hide the fraud.

The fraud was built on bogus certificates of deposit at Antigua-
based Stanford International Bank Ltd., prosecutors said,
according to Bloomberg. Messrs. Lopez and Kuhrt were the last two
Stanford executives to be criminally tried for their roles in the
scheme.

Bloomberg said the men were each found guilty of nine of 10 wire
fraud counts and one count of conspiracy to commit wire fraud.
They have been jailed in downtown Houston pending sentencing.

Bloomberg related that Mr. Lopez's lawyer, Jack Zimmermann, said
the verdict and sentence will be appealed arguing that the
government's recommendation of 25 years "overstates the gravity of
conduct of Gil Lopez."

In sentencing Messrs. Lopez and Kuhrt, the judge said he deviated
downward from the advisory federal guidelines sentence of, in
effect, life behind bars to avoid unwarranted disparities with
other executives and their "lesser culpability and gain from this
fraud" compared with others', according to Bloomberg.  He
calculated the sentences for both men after determining they lied
during his trial testimony, as the government claimed, the judge
said.  Besides the prison term, Mr. Lopez's punishment includes a
$25,000 fine.

The case is U.S. v Lopez, 4:09-cr-0342, U.S. District Court,
Southern District of Texas (Houston).

                 About Stanford International Bank

Domiciled in Antigua, Stanford International Bank Limited --
http://www.stanfordinternationalbank.com/-- is a member of
Stanford Private Wealth Management, a global financial services
network with US$51 billion in deposits and assets under
management or advisement.  Stanford Private Wealth Management
serves more than 70,000 clients in 140 countries.

On Feb. 16, 2009, the United States District Court for the
Northern District of Texas, Dallas Division, signed an order
appointing Ralph Janvey as receiver for all the assets and
records of Stanford International Bank, Ltd., Stanford Group
Company, Stanford Capital Management, LLC, Robert Allen Stanford,
James M. Davis and Laura Pendergest-Holt and of all entities they
own or control.  The February 16 order, as amended March 12,
2009, directs the Receiver to, among other things, take control
and possession of and to operate the Receivership Estate, and to
perform all acts necessary to conserve, hold, manage and preserve
the value of the Receivership Estate.


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


BUENOS AIRES CLOTHES: Applies for Reorganization Proceedings
------------------------------------------------------------
Buenos Aires Clothes Company SRL applied for reorganization
proceedings.  The company defaulted payments last Dec. 28, 2012.


CASA SARMIENTO: Applies for Reorganization Proceedings
------------------------------------------------------
Casa Sarmiento SRL applied for reorganization proceedings.  The
company defaulted payments last July 30, 2012.


COMERCIAL CATARATAS: Creditors' Proofs of Debt Due March 12
-----------------------------------------------------------
Claudio Walter Caracciolo, the court-appointed trustee for
Comercial Cataratas SRL's bankruptcy proceedings, will be
verifying creditors' proofs of claim until March 12, 2013.

Mr. Caracciolo will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 16 in Buenos Aires, with the assistance of Clerk
No. 31, 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:

         Claudio Walter Caracciolo
         Viamonte 1592
         Argentina


CTEC SRL: Files for Bankruptcy Proceedings
------------------------------------------
CTEC SRL filed for bankruptcy.  The company defaulted payments
last June 25, 2012.


LATIGO SA: Creditors' Proofs of Debt Due April 4
------------------------------------------------
Jorge Carlos Risso, the court-appointed trustee for Latigo SA's
reorganization proceedings, will be verifying creditors' proofs of
claim until April 4, 2013.

Mr. Risso will present the validated claims in court as individual
reports.  The National Commercial Court of First Instance No. 15
in Buenos Aires, with the assistance of Clerk No. 29, will
determine if the verified claims are admissible, taking into
account the trustee's opinion, and the objections and challenges
that will be raised by the company and its creditors.

The Trustee can be reached at:

         Jorge Carlos Risso
         Av. Cordoba 827
         Argentina


MIREMAR SA: Calls for Opening of Bankruptcy Proceedings
-------------------------------------------------------
Miremar SA called for the opening of bankruptcy proceedings.  The
company defaulted payments last Feb. 8, 2011.


NEUMATICOS DEL INTERIOR: Creditors' Proofs of Debt Due March 1
--------------------------------------------------------------
Moises Gorelik, the court-appointed trustee for Neumaticos del
Interior SA's bankruptcy proceedings, will be verifying creditors'
proofs of claim until March 1, 2013.

Mr. Gorelik will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 14 in Buenos Aires, with the assistance of Clerk
No. 27, 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:

         Moises Gorelik
         Lavalle 1675
         Argentina


OPERADORES LOGISTICOS: Applies for Reorganization Proceedings
-------------------------------------------------------------
Operadores Logisticos Asociados SA applied for reorganization
proceedings.  The company defaulted payments last Feb. 2012.


PALO SANTO: Creditors' Proofs of Debt Due March 11
--------------------------------------------------
Hector Horacio Garcia, the court-appointed trustee for Palo Santo
Trade Marks SA's bankruptcy proceedings, will be verifying
creditors' proofs of claim until March 11, 2013.

Mr. Garcia will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 26 in Buenos Aires, with the assistance of Clerk
No. 52, 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:

         Hector Horacio Garcia
         Uruguay 572


POLIGRAFICA DEL PLATA: Creditors' Proofs of Debt Due April 11
-------------------------------------------------------------
Estudio Conti y Sanchez, the court-appointed trustee for
Poligrafica del Plata SA's bankruptcy proceedings, will be
verifying creditors' proofs of claim until April 11, 2013.

The trustee will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 5 in Buenos Aires, with the assistance of Clerk
No. 9, will determine if the verified claims are admissible,
taking into account the trustee's opinion, and the objections and
challenges that will be raised by the company and its creditors.

Creditors will vote to ratify the completed settlement plan
during the assembly on Feb. 5, 2014.

The Trustee can be reached at:

         Estudio Conti y Sanchez
         Av. Corrientes 1965
         Argentina


SIPAN SA: Creditors' Proofs of Debt Due March 15
------------------------------------------------
Gonzalo Daniel Cueva, the court-appointed trustee for Sipan SA's
bankruptcy proceedings, will be verifying creditors' proofs of
claim until March 15, 2013.

Mr. Cueva will present the validated claims in court as individual
reports.  The National Commercial Court of First Instance No. 20
in Buenos Aires, with the assistance of Clerk No. 39, 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:

         Gonzalo Daniel Cueva
         Joaquin V. Gonzalez 1429
         Argentina


SUPET SA: Applies for Reorganization Proceedings
------------------------------------------------
Supet SA applied for reorganization proceedings.


* ARGENTINA: NML Capital Wins Court Ok to Demand for Information
----------------------------------------------------------------
Bob Van Voris at Bloomberg News reports that U.S. District Judge
Thomas Griesa said Elliott Management Corp.'s NML Capital may go
forward with a subpoena requiring Banco de la Nacion Argentina to
produce documents "relating to any assets or accounts maintained
at BNA by Argentina or for Argentina's benefit, any debts owed by
BNA to Argentina and transfers into or out of Argentina's
accounts."

This is part of NML's plan to gather information regarding
Argentina's assets worldwide, and attempt to seize assets to pay
what it's owed on defaulted Argentine bonds.

Judge Griesa overruled BNA's objection that complying with the
subpoena would violate Argentine law and the laws of Spain,
Brazil, Bolivia, Chile, Panama, Paraguay, the Cayman Islands and
Uruguay.  Judge Griesa said he will schedule a hearing to
determine what additional steps need to be taken, according to
Bloomberg News.

Argentina defaulted on a record $95 billion in sovereign debt in
2001.

Bloomberg News notes that Judge Griesa is overseeing lawsuits
filed by investors in the U.S. seeking to collect on the defaulted
bonds.

The case is NML Capital 03-cv-8845, U.S. District Court, Southern
District of New York (Manhattan).


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


SANTOS BRASIL: To Face US$1.2MM Loss in Workers' Planned Walkout
----------------------------------------------------------------
Matthew Malinowski at Bloomberg News reports that Santos Brasil
Participacoes SA faces as much as BRL2 million (US$1.02 million)
in losses from a half-day strike against a government port set for
Feb. 22.

Workers at the Santos port will walk off the job for six hours,
according to Paulo Pereira da Silva, federal deputy and president
of the Forca Sindical labor federation, according to Bloomberg
News.

Bloomberg News notes that Chief Commercial Officer Mauro Salgado
said that Santos Brasil stands to lose as much as BRL4 million a
day from work stoppages.

Port union leaders in Brazil are protesting government plans to
cede control of as many as 95 terminals to private operators,
Bloomberg News discloses.

President Dilma Rousseff, Bloomberg News relays, has instructed
officials to resist union pressure and continue with plans, which
aim to attract BRL54.2 billion in private port investments and
help jump-start an economy that grew at the slowest pace among
major emerging markets last year.

Changing port ownership will lead to worker firings and worsening
labor conditions, labor union leaders said, Bloomberg News
discloses.

Santos Brasil Participacoes SA is shipping-container operator
based in Brazil.


===============
C O L O M B I A
===============


INTERBOLSA SA: May Delay Fabricato SA Stake Sale
------------------------------------------------
Bloomberg News reports that Pablo Munoz, the official overseeing
the liquidation of Interbolsa SA, said that the company may delay
selling its stake in textile maker Fabricato SA until several
months after a trading suspension is lifted.

Mr. Munoz said that the firm might be able to get a better price
for its Fabricato shares by waiting until the market stabilizes
following a flurry of transactions when trading resumes, according
to Bloomberg News.

Bloomberg News recalls that Colombia is unwinding Interbolsa SA
after the collapse last year of its brokerage.  Bloomberg News
says trading in Fabricato shares has been suspended since
November, when they plunged 21 percent in a day.

Colombian officials extended the suspension and determined the
stock would be barred from trading until Fabricato completed an
independent valuation, Bloomberg News says.

Meanwhile, Mr. Munoz said the country has decided to hire a
foreign forensic auditing firm to help determine the size of its
Interbolsa stake, according to Bloomberg News.  Mr. Munoz said the
biggest 10 investors in Fabricato hold a combined stake of more
than 40%.

"In this liquidation process I have to ask them to either pay off
their debt, or else see how many of the shares I can get,"
Bloomberg News quoted Mr. Munoz as saying.

As reported in the Troubled Company Reporter-Latin America on
Nov. 8, 2012, Bancolombia SA will assume control of local peso
bonds managed by Interbolsa SA to prevent trading disruptions
after regulators seized control of its brokerage.  Bloomberg News
said that Chief Financial Regulator Gerardo Hernandez said that
government bonds managed by Interbolsa are worth COP1.6 trillion
(US$881 million).  Colombian brokerages will be able to tap into
an existing COP20 billion fund, known as Fogacol, Mr. Hernandez
said, Bloomberg News relayed.  Financial regulators stepped in
after Interbolsa said that it couldn't make a payment on a 20
billion peso loan, saying it faced a "temporary" funding shortage,
Bloomberg News recalled.

Interbolsa SA is a financial firm in Colombia.


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


ARRENDADORA BX+: Moody's Assigns Ba3 CFR; Outlook is Stable
-----------------------------------------------------------
Moody's de Mexico assigned a long term local currency corporate
family rating of Ba3 to Arrendadora Ve por Mas, S.A. de C.V.
(Arrendadora BX+). The rating was assigned with a stable outlook.

At the same time, Moody's affirmed all other existing ratings
including global local currency issuer ratings of Ba3/Not-Prime
and Mexican National Scale issuer ratings of A3.mx/MX-2. All
ratings have a stable outlook.

The following rating was assigned, with a stable outlook:

- Long term local currency corporate family rating of Ba3

The following ratings were affirmed with stable outlook:

- Long term local currency issuer rating of Ba3

- Short term local currency issuer rating of Not-Prime

- Long term Mexican National Scale issuer rating of A3.mx

- Short term Mexican National Scale issuer rating of MX-2

Ratings Rationale

Moody's assigned a Ba3 CFR to Arrendadora BX+, which is at the
same level as its unsupported credit profile and long term global
local currency issuer rating. CFRs represent the rating agency's
opinion of the consolidated credit risk of a speculative grade
company, equivalent to the weighted average of all debt classes
within the company's capital structure, considering the
proportionality, seniority and level of asset protection
associated with various debt classes, both nominally and in
relation to each other. The Ba3 CFR reflects the predominance of
senior unsecured obligations in the entity's current debt
structure and therefore its CFR and issuer rating are at the same
rating level.

Arrendadora BX+ has no outstanding debt obligations at this time
other than secured and unsecured bank credit lines. If and when
the company issues debt obligations, Moody's said it will reassess
the seniority and level of asset protection of the company's
capital structure in order to rate each individual debt class.

Arrendadora BX+'s Ba3 CFR takes into account the enhancement of
the leasing company's business potential with the acquisition of
ING Arrendadora, S.A., in early 2012. The acquisition brought with
it a broader client base and diversified product offering as well
as adding greater geographic diversification to Arrendadora BX+'s
existing operations. The ratings also take into account
Arrendadora BX+'s good performance and adequate capacity to
service its obligations. The rating is nevertheless constrained by
Arrendadora BX+'s modest franchise value, its small -- yet
improving -- earnings generation capacity and modest risk
positioning as a result of high credit concentrations in key
business relationships, as well as its limited standalone funding
capability.

Arrendadora BX+ is headquartered in Mexico City; Mexico, and
reported total assets of MXP2.2 billion as of September 2012.

The period of time covered in the financial information used to
determine Arrendadora BX+'s rating is between December 31, 2008
and September 30, 2012


NATIONAL COMMERCIAL: S&P Puts 'B-/B' ICR on CreditWatch Negative
----------------------------------------------------------------
Standard & Poor's Ratings Services placed its 'B-/B' issuer credit
ratings on National Commercial Bank Jamaica Ltd. (NCBJ) on
CreditWatch with negative implications.  The CreditWatch placement
follows S&P's downgrade of Jamaica to 'SD' from 'B-/B' due to its
domestic debt exchange program, which S&P believes could weaken
NCBJ's financial profile.

S&P placed NCBJ on CreditWatch as it believes the downgrade on
Jamaica to 'SD' due to its recently announced domestic debt-
exchange program will lead to a downgrade on NCBJ once the program
is concluded.  NCBJ has significant exposure to Jamaican
sovereign-debt securities and loans to public entities (62% of its
total investment and loan portfolio); consequently, its ratings
are capped by the ratings on the sovereign.

"The debt-exchange offer indicates that investors will receive
less return than promised on the original securities based on a
lower interest rate and a maturity extension," said Standard &
Poor's credit analyst Vitor Garcia.  As a result, the bank's
income could potentially decrease.  S&P will also be monitoring
the Jamaican economy and how this affects credit fundamentals such
as asset quality.

"We expect to resolve the CreditWatch listing and reassess the
bank's stand-alone credit profile once the sovereign's debt-
exchange is completed.  We will likely lower the ratings on the
bank to reflect the new sovereign rating, which we anticipate
could be 'CCC.'  We will also assess the debt-exchange's impact on
our Banking Industry Country Risk Assessment on Jamaica, which
could lead to a lower anchor," S&P noted.


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


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

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


AGRENCO LTD          AGRE LX         395826857.5   -540627165.4
AGRENCO LTD-BDR      AGEN11 BZ       395826857.5   -540627165.4
ALL ORE MINERACA     AORE3 BZ        21657457.41   -7184940.816
ALL ORE MINERACA     STLB3 BZ        21657457.41   -7184940.816
ARTHUR LAN-DVD C     ARLA11 BZ       11642255.92   -17154461.86
ARTHUR LAN-DVD P     ARLA12 BZ       11642255.92   -17154461.86
ARTHUR LANGE         ARLA3 BZ        11642255.92   -17154461.86
ARTHUR LANGE SA      ALICON BZ       11642255.92   -17154461.86
ARTHUR LANGE-PRF     ARLA4 BZ        11642255.92   -17154461.86
ARTHUR LANGE-PRF     ALICPN BZ       11642255.92   -17154461.86
ARTHUR LANG-RC C     ARLA9 BZ        11642255.92   -17154461.86
ARTHUR LANG-RC P     ARLA10 BZ       11642255.92   -17154461.86
ARTHUR LANG-RT C     ARLA1 BZ        11642255.92   -17154461.86
ARTHUR LANG-RT P     ARLA2 BZ        11642255.92   -17154461.86
B&D FOOD CORP        BDFCE US           14423532       -3506007
B&D FOOD CORP        BDFC US            14423532       -3506007
BALADARE             BLDR3 BZ        159454015.9   -52992212.81
BATTISTELLA          BTTL3 BZ        246036232.2   -51251360.68
BATTISTELLA-PREF     BTTL4 BZ        246036232.2   -51251360.68
BATTISTELLA-RECE     BTTL9 BZ        246036232.2   -51251360.68
BATTISTELLA-RECP     BTTL10 BZ       246036232.2   -51251360.68
BATTISTELLA-RI P     BTTL2 BZ        246036232.2   -51251360.68
BATTISTELLA-RIGH     BTTL1 BZ        246036232.2   -51251360.68
BOMBRIL              BMBBF US        344846084.5   -16082109.13
BOMBRIL              FPXE4 BZ        19416015.78   -489914901.9
BOMBRIL              BOBR3 BZ        344846084.5   -16082109.13
BOMBRIL CIRIO SA     BOBRON BZ       344846084.5   -16082109.13
BOMBRIL CIRIO-PF     BOBRPN BZ       344846084.5   -16082109.13
BOMBRIL HOLDING      FPXE3 BZ        19416015.78   -489914901.9
BOMBRIL SA-ADR       BMBPY US        344846084.5   -16082109.13
BOMBRIL SA-ADR       BMBBY US        344846084.5   -16082109.13
BOMBRIL-PREF         BOBR4 BZ        344846084.5   -16082109.13
BOMBRIL-RGTS PRE     BOBR2 BZ        344846084.5   -16082109.13
BOMBRIL-RIGHTS       BOBR1 BZ        344846084.5   -16082109.13
BOTUCATU TEXTIL      STRP3 BZ        27663604.95   -7174512.028
BOTUCATU-PREF        STRP4 BZ        27663604.95   -7174512.028
BUETTNER             BUET3 BZ        106809931.8   -26451200.98
BUETTNER SA          BUETON BZ       106809931.8   -26451200.98
BUETTNER SA-PRF      BUETPN BZ       106809931.8   -26451200.98
BUETTNER SA-RT P     BUET2 BZ        106809931.8   -26451200.98
BUETTNER SA-RTS      BUET1 BZ        106809931.8   -26451200.98
BUETTNER-PREF        BUET4 BZ        106809931.8   -26451200.98
CAF BRASILIA         CAFE3 BZ        160938139.9   -149281089.5
CAF BRASILIA-PRF     CAFE4 BZ        160938139.9   -149281089.5
CAFE BRASILIA SA     CSBRON BZ       160938139.9   -149281089.5
CAFE BRASILIA-PR     CSBRPN BZ       160938139.9   -149281089.5
CELGPAR              GPAR3 BZ         2657428496   -817505840.1
CENTRAL COST-ADR     CCSA LI         369642685.3    -49030758.7
CENTRAL COSTAN-B     CRCBF US        369642685.3    -49030758.7
CENTRAL COSTAN-B     CNRBF US        369642685.3    -49030758.7
CENTRAL COSTAN-C     CECO3 AR        369642685.3    -49030758.7
CENTRAL COST-BLK     CECOB AR        369642685.3    -49030758.7
CHIARELLI SA         CCHI3 BZ        11165368.88    -88048393.7
CHIARELLI SA         CCHON BZ        11165368.88    -88048393.7
CHIARELLI SA-PRF     CCHI4 BZ        11165368.88    -88048393.7
CHIARELLI SA-PRF     CCHPN BZ        11165368.88    -88048393.7
CIA PETROLIFERA      MRLM3 BZ        377602195.2   -3014291.724
CIA PETROLIFERA      MRLM3B BZ       377602195.2   -3014291.724
CIA PETROLIFERA      1CPMON BZ       377602195.2   -3014291.724
CIA PETROLIF-PRF     MRLM4 BZ        377602195.2   -3014291.724
CIA PETROLIF-PRF     MRLM4B BZ       377602195.2   -3014291.724
CIA PETROLIF-PRF     1CPMPN BZ       377602195.2   -3014291.724
CIMOB PARTIC SA      GAFP3 BZ         44047411.7   -45669963.59
CIMOB PARTIC SA      GAFON BZ         44047411.7   -45669963.59
CIMOB PART-PREF      GAFP4 BZ         44047411.7   -45669963.59
CIMOB PART-PREF      GAFPN BZ         44047411.7   -45669963.59
COBRASMA             CBMA3 BZ        84044218.09    -2153724140
COBRASMA SA          COBRON BZ       84044218.09    -2153724140
COBRASMA SA-PREF     COBRPN BZ       84044218.09    -2153724140
COBRASMA-PREF        CBMA4 BZ        84044218.09    -2153724140
CONST A LINDEN       CALI3 BZ        12894010.61   -2805191.164
CONST A LINDEN       LINDON BZ       12894010.61   -2805191.164
CONST A LIND-PRF     CALI4 BZ        12894010.61   -2805191.164
CONST A LIND-PRF     LINDPN BZ       12894010.61   -2805191.164
CONST LINDEN RCT     CALI9 BZ        12894010.61   -2805191.164
CONST LINDEN RCT     CALI10 BZ       12894010.61   -2805191.164
CONST LINDEN RT      CALI1 BZ        12894010.61   -2805191.164
CONST LINDEN RT      CALI2 BZ        12894010.61   -2805191.164
D H B                DHBI3 BZ        138254321.9   -115344518.7
D H B-PREF           DHBI4 BZ        138254321.9   -115344518.7
DHB IND E COM        DHBON BZ        138254321.9   -115344518.7
DHB IND E COM-PR     DHBPN BZ        138254321.9   -115344518.7
DOCA INVESTIMENT     DOCA3 BZ        262638432.2   -199076299.9
DOCA INVESTI-PFD     DOCA4 BZ        262638432.2   -199076299.9
DOCAS SA             DOCAON BZ       262638432.2   -199076299.9
DOCAS SA-PREF        DOCAPN BZ       262638432.2   -199076299.9
DOCAS SA-RTS PRF     DOCA2 BZ        262638432.2   -199076299.9
ENDESA COST-ADR      CRCNY US        369642685.3    -49030758.7
ENDESA COSTAN-       CECO2 AR        369642685.3    -49030758.7
ENDESA COSTAN-       CECOD AR        369642685.3    -49030758.7
ENDESA COSTAN-       CECOC AR        369642685.3    -49030758.7
ENDESA COSTAN-       EDCFF US        369642685.3    -49030758.7
ENDESA COSTAN-A      CECO1 AR        369642685.3    -49030758.7
ESTRELA SA           ESTR3 BZ        83538938.27   -102223933.2
ESTRELA SA           ESTRON BZ       83538938.27   -102223933.2
ESTRELA SA-PREF      ESTR4 BZ        83538938.27   -102223933.2
ESTRELA SA-PREF      ESTRPN BZ       83538938.27   -102223933.2
F GUIMARAES          FGUI3 BZ        11016542.14   -151840377.4
F GUIMARAES-PREF     FGUI4 BZ        11016542.14   -151840377.4
FABRICA RENAUX       FTRX3 BZ        70649865.99   -75488504.45
FABRICA RENAUX       FRNXON BZ       70649865.99   -75488504.45
FABRICA RENAUX-P     FTRX4 BZ        70649865.99   -75488504.45
FABRICA RENAUX-P     FRNXPN BZ       70649865.99   -75488504.45
FABRICA TECID-RT     FTRX1 BZ        70649865.99   -75488504.45
FER HAGA-PREF        HAGA4 BZ        20081896.26   -49045924.81
FERRAGENS HAGA       HAGAON BZ       20081896.26   -49045924.81
FERRAGENS HAGA-P     HAGAPN BZ       20081896.26   -49045924.81
FERREIRA GUIMARA     FGUION BZ       11016542.14   -151840377.4
FERREIRA GUIM-PR     FGUIPN BZ       11016542.14   -151840377.4
HAGA                 HAGA3 BZ        20081896.26   -49045924.81
HOTEIS OTHON SA      HOOT3 BZ        255452990.1   -73565093.67
HOTEIS OTHON SA      HOTHON BZ       255452990.1   -73565093.67
HOTEIS OTHON-PRF     HOOT4 BZ        255452990.1   -73565093.67
HOTEIS OTHON-PRF     HOTHPN BZ       255452990.1   -73565093.67
IGUACU CAFE          IGUA3 BZ        262778568.4   -57161259.46
IGUACU CAFE          IGCSON BZ       262778568.4   -57161259.46
IGUACU CAFE          IGUCF US        262778568.4   -57161259.46
IGUACU CAFE-PR A     IGUA5 BZ        262778568.4   -57161259.46
IGUACU CAFE-PR A     IGCSAN BZ       262778568.4   -57161259.46
IGUACU CAFE-PR A     IGUAF US        262778568.4   -57161259.46
IGUACU CAFE-PR B     IGUA6 BZ        262778568.4   -57161259.46
IGUACU CAFE-PR B     IGCSBN BZ       262778568.4   -57161259.46
IMPSAT FIBER NET     IMPTQ US          535007008      -17164978
IMPSAT FIBER NET     330902Q GR        535007008      -17164978
IMPSAT FIBER NET     XIMPT SM          535007008      -17164978
IMPSAT FIBER-$US     IMPTD AR          535007008      -17164978
IMPSAT FIBER-BLK     IMPTB AR          535007008      -17164978
IMPSAT FIBER-C/E     IMPTC AR          535007008      -17164978
IMPSAT FIBER-CED     IMPT AR           535007008      -17164978
LA POLAR SA          NUEVAPOL CI       623197996   -605184455.9
LA POLAR SA          LAPOLAR CI        623197996   -605184455.9
LA POLAR-RT          LAPOLARO CI       623197996   -605184455.9
LA POLAR-RT          LAPOLAOS CI       623197996   -605184455.9
LATTENO FOOD COR     LATF US            14423532       -3506007
LUPATECH SA          LUPA3 BZ        943240001.5   -5971578.447
LUPATECH SA          LUPAF US        943240001.5   -5971578.447
LUPATECH SA -RCT     LUPA9 BZ        943240001.5   -5971578.447
LUPATECH SA-ADR      LUPAY US        943240001.5   -5971578.447
LUPATECH SA-RT       LUPA11 BZ       943240001.5   -5971578.447
LUPATECH SA-RTS      LUPA1 BZ        943240001.5   -5971578.447
MINUPAR              MNPR3 BZ        153054387.9   -2037402.694
MINUPAR SA           MNPRON BZ       153054387.9   -2037402.694
MINUPAR SA-PREF      MNPRPN BZ       153054387.9   -2037402.694
MINUPAR-PREF         MNPR4 BZ        153054387.9   -2037402.694
MINUPAR-RCT          9314634Q BZ     153054387.9   -2037402.694
MINUPAR-RCT          0599564D BZ     153054387.9   -2037402.694
MINUPAR-RCT          MNPR9 BZ        153054387.9   -2037402.694
MINUPAR-RT           9314542Q BZ     153054387.9   -2037402.694
MINUPAR-RT           0599562D BZ     153054387.9   -2037402.694
MINUPAR-RTS          MNPR1 BZ        153054387.9   -2037402.694
NORDON MET           NORD3 BZ        12234778.35   -30283728.64
NORDON METAL         NORDON BZ       12234778.35   -30283728.64
NORDON MET-RTS       NORD1 BZ        12234778.35   -30283728.64
NOVA AMERICA SA      NOVA3 BZ           21287489   -183535527.2
NOVA AMERICA SA      NOVA3B BZ          21287489   -183535527.2
NOVA AMERICA SA      NOVAON BZ          21287489   -183535527.2
NOVA AMERICA SA      1NOVON BZ          21287489   -183535527.2
NOVA AMERICA-PRF     NOVA4 BZ           21287489   -183535527.2
NOVA AMERICA-PRF     NOVA4B BZ          21287489   -183535527.2
NOVA AMERICA-PRF     NOVAPN BZ          21287489   -183535527.2
NOVA AMERICA-PRF     1NOVPN BZ          21287489   -183535527.2
PARMALAT             LCSA3 BZ          388720096     -213641152
PARMALAT BRASIL      LCSAON BZ         388720096     -213641152
PARMALAT BRAS-PF     LCSAPN BZ         388720096     -213641152
PARMALAT BR-RT C     LCSA5 BZ          388720096     -213641152
PARMALAT BR-RT P     LCSA6 BZ          388720096     -213641152
PARMALAT-PREF        LCSA4 BZ          388720096     -213641152
PET MANG-RECEIPT     0229292Q BZ     246810936.7   -224879124.2
PET MANG-RECEIPT     0229296Q BZ     246810936.7   -224879124.2
PET MANG-RECEIPT     RPMG9 BZ        246810936.7   -224879124.2
PET MANG-RECEIPT     RPMG10 BZ       246810936.7   -224879124.2
PET MANG-RIGHTS      3678565Q BZ     246810936.7   -224879124.2
PET MANG-RIGHTS      3678569Q BZ     246810936.7   -224879124.2
PET MANG-RT          4115360Q BZ     246810936.7   -224879124.2
PET MANG-RT          4115364Q BZ     246810936.7   -224879124.2
PET MANG-RT          0229249Q BZ     246810936.7   -224879124.2
PET MANG-RT          0229268Q BZ     246810936.7   -224879124.2
PET MANG-RT          RPMG2 BZ        246810936.7   -224879124.2
PET MANG-RT          RPMG1 BZ        246810936.7   -224879124.2
PET MANGUINH-PRF     RPMG4 BZ        246810936.7   -224879124.2
PETRO MANGUINHOS     RPMG3 BZ        246810936.7   -224879124.2
PETRO MANGUINHOS     MANGON BZ       246810936.7   -224879124.2
PETRO MANGUIN-PF     MANGPN BZ       246810936.7   -224879124.2
PORTX OPERACOES      PRTX3 BZ        976769402.8   -9407990.345
PORTX OPERA-GDR      PXTPY US        976769402.8   -9407990.345
PUYEHUE              PUYEH CI        24251713.88   -3390038.992
PUYEHUE RIGHT        PUYEHUOS CI     24251713.88   -3390038.992
RECRUSUL             RCSL3 BZ        41094940.32   -21379158.76
RECRUSUL - RCT       4529789Q BZ     41094940.32   -21379158.76
RECRUSUL - RCT       4529793Q BZ     41094940.32   -21379158.76
RECRUSUL - RCT       0163582D BZ     41094940.32   -21379158.76
RECRUSUL - RCT       0163583D BZ     41094940.32   -21379158.76
RECRUSUL - RCT       0614675D BZ     41094940.32   -21379158.76
RECRUSUL - RCT       0614676D BZ     41094940.32   -21379158.76
RECRUSUL - RCT       RCSL10 BZ       41094940.32   -21379158.76
RECRUSUL - RT        4529781Q BZ     41094940.32   -21379158.76
RECRUSUL - RT        4529785Q BZ     41094940.32   -21379158.76
RECRUSUL - RT        0163579D BZ     41094940.32   -21379158.76
RECRUSUL - RT        0163580D BZ     41094940.32   -21379158.76
RECRUSUL - RT        0614673D BZ     41094940.32   -21379158.76
RECRUSUL - RT        0614674D BZ     41094940.32   -21379158.76
RECRUSUL SA          RESLON BZ       41094940.32   -21379158.76
RECRUSUL SA-PREF     RESLPN BZ       41094940.32   -21379158.76
RECRUSUL SA-RCT      RCSL9 BZ        41094940.32   -21379158.76
RECRUSUL SA-RTS      RCSL1 BZ        41094940.32   -21379158.76
RECRUSUL SA-RTS      RCSL2 BZ        41094940.32   -21379158.76
RECRUSUL-BON RT      RCSL11 BZ       41094940.32   -21379158.76
RECRUSUL-BON RT      RCSL12 BZ       41094940.32   -21379158.76
RECRUSUL-PREF        RCSL4 BZ        41094940.32   -21379158.76
REII INC             REIC US            14423532       -3506007
RENAUXVIEW SA        TXRX3 BZ          113010473   -78451102.12
RENAUXVIEW SA-PF     TXRX4 BZ          113010473   -78451102.12
RIMET                REEM3 BZ        103098360.9   -185417654.6
RIMET                REEMON BZ       103098360.9   -185417654.6
RIMET-PREF           REEM4 BZ        103098360.9   -185417654.6
RIMET-PREF           REEMPN BZ       103098360.9   -185417654.6
SANESALTO            SNST3 BZ         31802628.1   -2924062.868
SANSUY               SNSY3 BZ        183655396.8   -138233504.6
SANSUY SA            SNSYON BZ       183655396.8   -138233504.6
SANSUY SA-PREF A     SNSYAN BZ       183655396.8   -138233504.6
SANSUY SA-PREF B     SNSYBN BZ       183655396.8   -138233504.6
SANSUY-PREF A        SNSY5 BZ        183655396.8   -138233504.6
SANSUY-PREF B        SNSY6 BZ        183655396.8   -138233504.6
SAUIPE               PSEG3 BZ        18005034.37   -5223527.469
SAUIPE SA            PSEGON BZ       18005034.37   -5223527.469
SAUIPE SA-PREF       PSEGPN BZ       18005034.37   -5223527.469
SAUIPE-PREF          PSEG4 BZ        18005034.37   -5223527.469
SCHLOSSER            SCLO3 BZ        56671769.64   -52218991.26
SCHLOSSER SA         SCHON BZ        56671769.64   -52218991.26
SCHLOSSER SA-PRF     SCHPN BZ        56671769.64   -52218991.26
SCHLOSSER-PREF       SCLO4 BZ        56671769.64   -52218991.26
SNIAFA SA            SNIA AR         11229696.22   -2670544.877
SNIAFA SA-B          SDAGF US        11229696.22   -2670544.877
SNIAFA SA-B          SNIA5 AR        11229696.22   -2670544.877
STAROUP SA           STARON BZ       27663604.95   -7174512.028
STAROUP SA-PREF      STARPN BZ       27663604.95   -7174512.028
STEEL - RCT ORD      STLB9 BZ        21657457.41   -7184940.816
STEEL - RT           STLB1 BZ        21657457.41   -7184940.816
TEKA                 TKTQF US        363575480.9   -371579997.4
TEKA                 TEKA3 BZ        363575480.9   -371579997.4
TEKA                 TEKAON BZ       363575480.9   -371579997.4
TEKA-ADR             TEKAY US        363575480.9   -371579997.4
TEKA-ADR             TKTPY US        363575480.9   -371579997.4
TEKA-ADR             TKTQY US        363575480.9   -371579997.4
TEKA-PREF            TKTPF US        363575480.9   -371579997.4
TEKA-PREF            TEKA4 BZ        363575480.9   -371579997.4
TEKA-PREF            TEKAPN BZ       363575480.9   -371579997.4
TEKA-RCT             TEKA9 BZ        363575480.9   -371579997.4
TEKA-RCT             TEKA10 BZ       363575480.9   -371579997.4
TEKA-RTS             TEKA1 BZ        363575480.9   -371579997.4
TEKA-RTS             TEKA2 BZ        363575480.9   -371579997.4
TEXTEIS RENA-RCT     TXRX9 BZ          113010473   -78451102.12
TEXTEIS RENA-RCT     TXRX10 BZ         113010473   -78451102.12
TEXTEIS RENAU-RT     TXRX1 BZ          113010473   -78451102.12
TEXTEIS RENAU-RT     TXRX2 BZ          113010473   -78451102.12
TEXTEIS RENAUX       RENXON BZ         113010473   -78451102.12
TEXTEIS RENAUX       RENXPN BZ         113010473   -78451102.12
VARIG PART EM SE     VPSC3 BZ        83017828.56   -495721699.8
VARIG PART EM TR     VPTA3 BZ        49432124.18   -399290396.3
VARIG PART EM-PR     VPTA4 BZ        49432124.18   -399290396.3
VARIG PART EM-PR     VPSC4 BZ        83017828.56   -495721699.8
VARIG SA             VAGV3 BZ          966298048    -4695211008
VARIG SA             VARGON BZ         966298048    -4695211008
VARIG SA-PREF        VAGV4 BZ          966298048    -4695211008
VARIG SA-PREF        VARGPN BZ         966298048    -4695211008
WETZEL SA            MWET3 BZ        93591243.36   -7959637.409
WETZEL SA            MWELON BZ       93591243.36   -7959637.409
WETZEL SA-PREF       MWET4 BZ        93591243.36   -7959637.409
WETZEL SA-PREF       MWELPN BZ       93591243.36   -7959637.409


                            ***********


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, Julie Anne L. Toledo, 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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