TCRLA_Public/130314.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, March 14, 2013, Vol. 14, No. 52


                            Headlines



A N T I G U A  &  B A R B U D A

STANFORD INT'L: Receivers Reach Agreement


C A Y M A N  I S L A N D S

55 NORTH: Commences Liquidation Proceedings
ARDEN ASIA: Placed Under Voluntary Wind-Up
ARDEN CREDIT: Placed Under Voluntary Wind-Up
ARDEN SAGE: Placed Under Voluntary Wind-Up
BRASPETRO OIL: Commences Liquidation Proceedings

DELLACAMERA OPTIONS: Placed Under Voluntary Wind-Up
FOCUS 300: Placed Under Voluntary Wind-Up
GLOBAL MANAGED: Placed Under Voluntary Wind-Up
GMFF LARES: Placed Under Voluntary Wind-Up
GMFF TERRA: Placed Under Voluntary Wind-Up

GOLDANCE CORPORATION: Placed Under Voluntary Wind-Up
GTI6 MANGAKAHIA: Commences Liquidation Proceedings
NB OFFSHORE FUND II: Commences Liquidation Proceedings
NB OFFSHORE LONG/SHORT: Placed Under Voluntary Wind-Up
NB OFFSHORE MASTER: Commences Liquidation Proceedings

OPTIMA PARTNERS: Placed Under Voluntary Wind-Up
RENAISSANCE GLOBAL: Placed Under Voluntary Wind-Up
SEARCH ASIAN: Placed Under Voluntary Wind-Up
SR ALTERNATIVE: Commences Liquidation Proceedings
WORLD FUND: Commences Liquidation Proceedings


G R E N A D A

GRENADA: S&P Lowers Foreign & Local Sovereign Rating to 'SD'


M E X I C O

SARE HOLDING: Fitch Affirms National Scale LT Rating at 'CC'


T R I N I D A D  &  T O B A G O

CL FIN'L: Judge Finds Government Bailout Plan 'Unlawful'


X X X X X X X X

* Upcoming Meetings, Conferences and Seminars




                            - - - - -


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


STANFORD INT'L: Receivers Reach Agreement
-----------------------------------------
Kara Scannell at The Financial Times reports that Antiguan and
U.S. receivers liquidating convicted fraudster Robert Allen
Stanford' Antigua-based Stanford International Bank Limited
reached a settlement that could return a portion of the US$300
million in disputed assets to victims.

The settlement between the U.S. receiver, Ralph Janvey, U.S.
Department of Justice, and receivers appointed by an Antiguan
court ends a four year battle over US$300 million in liquid assets
held in accounts in Canada, Switzerland, and the United Kingdom,
according to The Financial Times.

"We've now cleared the biggest obstacle to getting these funds
back to victims that has existed in the last four years," the
report quoted Kevin Sadler, a lawyer representing the U.S.
receiver, as saying.

Under the agreement, which requires court approval from the three
jurisdictions, "almost 90%" of the frozen assets will be
distributed, the receivers said in a joint statement obtained by
the news agency.

The Financial Times says that the deal comes four years after US
authorities charged Mr. Stanford and several associates with
running a US$7 billion Ponzi scheme.

The report relates that the pact will probably draw scrutiny from
Stanford's victims who have not received any distributions and
have filed their own lawsuits to try to recover assets.  The
victim's group has been critical of fees the US receiver has been
paid, The Financial Times notes.

The Financial Times, citing the joint agreement, notes that the
U.S. receiver will have US$155.5 million to distribute, while the
Antiguans will have US$104.5 million to pay to victims.

Of the remaining amount, the Antiguan regulators will receive up
to US$36 million in fees, the receivers said, notes the report.
That comes in addition to US$20 million in legal fees previously
advanced to the Antiguans.

The report recalls that since 2009, the U.S. receiver has been
paid US119.2 million to cover fees and expenses associated with
the liquidation, according to an interim report filed with the
court last month.

Before the settlement, the U.S. receiver said it recovered US$230
million to return to investors, the report notes.  Last month the
receiver asked a judge for permission to distribute US$55 million
to investors, the report relates.

The remaining cash is held to cover potential expenses associated
with winding down the receivership, it said in the filing, the
report adds.

                 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.


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


55 NORTH: Commences Liquidation Proceedings
-------------------------------------------
On Dec. 21, 2012, the sole shareholder of 55 North General Partner
Inc resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Jan. 30, 2013, will be included in the company's dividend
distribution.

The company's liquidator is:

         Intertrust Corporate Services (Cayman) Limited
         190 Elgin Avenue, George Town
         Grand Cayman KY1-9005
         Cayman Islands
         c/o Jennifer Chailler
         Telephone: (345) 914 3115


ARDEN ASIA: Placed Under Voluntary Wind-Up
------------------------------------------
On Dec. 19, 2012, the sole shareholder of Arden Asia Partners,
Ltd. resolved to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
Jan. 21, 2013, will be included in the company's dividend
distribution.

The company's liquidator is:

         Ogier
         c/o Jo-Anne Maher
         Telephone: (345) 815 1762
         Facsimile: (345) 949 9877
         c/o Ogier
         89 Nexus Way, Camana Bay
         Grand Cayman KY1-9007
         Cayman Islands


ARDEN CREDIT: Placed Under Voluntary Wind-Up
--------------------------------------------
On Dec. 19, 2012, the sole shareholder of Arden Credit
Opportunities Fund, Ltd. resolved to voluntarily wind up the
company's operations.

Only creditors who were able to file their proofs of debt by
Jan. 21, 2013, will be included in the company's dividend
distribution.

The company's liquidator is:

         Ogier
         c/o Jo-Anne Maher
         Telephone: (345) 815 1762
         Facsimile: (345) 949 9877
         c/o Ogier
         89 Nexus Way, Camana Bay
         Grand Cayman KY1-9007
         Cayman Islands


ARDEN SAGE: Placed Under Voluntary Wind-Up
------------------------------------------
On Dec. 19, 2012, the sole shareholder of Arden Sage Large Cap
Equity Portable Alpha Fund, Ltd resolved to voluntarily wind up
the company's operations.

Only creditors who were able to file their proofs of debt by
Jan. 21, 2013, will be included in the company's dividend
distribution.

The company's liquidator is:

         Ogier
         c/o Jo-Anne Maher
         Telephone: (345) 815 1762
         Facsimile: (345) 949 9877
         89 Nexus Way, Camana Bay
         Grand Cayman KY1-9007
         Cayman Islands


BRASPETRO OIL: Commences Liquidation Proceedings
------------------------------------------------
On Dec. 14, 2012, the sole shareholder of Braspetro Oil Company
resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Jan. 30, 2013, will be included in the company's dividend
distribution.

The company's liquidator is:

         Fabio Barreto Lourenco
         Avenida Republica do Chile 65
         10o. Floor, Room 1004
         Centro, Rio de Janeiro
         RJ, Brazil
         Telephone: +5 (521) 3224 3067


DELLACAMERA OPTIONS: Placed Under Voluntary Wind-Up
---------------------------------------------------
On Dec. 19, 2012, the sole shareholder of Dellacamera Options
Holdings resolved to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
Jan. 28, 2013, will be included in the company's dividend
distribution.

The company's liquidator is:

         Ogier
         c/o Daniella Skotnicki
         Telephone: (345) 949 9876
         Facsimile: (345) 949 9877
         89 Nexus Way, Camana Bay
         Grand Cayman KY1-9007
         Cayman Islands


FOCUS 300: Placed Under Voluntary Wind-Up
-----------------------------------------
On Dec. 14, 2012, the sole member of Focus 300 Ltd. resolved to
voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
Jan. 22, 2013, will be included in the company's dividend
distribution.

The company's liquidator is:

         Gene Dacosta
         c/o Maree Martin
         Telephone: (345) 814 7376
         Facsimile: (345) 945 3902
         P.O. Box 2681 Grand Cayman KY1-1111
         Cayman Islands


GLOBAL MANAGED: Placed Under Voluntary Wind-Up
----------------------------------------------
On Dec. 21, 2012, the sole shareholder of Global Managed Futures
Fund Limited resolved to voluntarily wind up the company's
operations.

Only creditors who were able to file their proofs of debt by
Jan. 21, 2013, will be included in the company's dividend
distribution.

The company's liquidator is:

         Ogier
         c/o Jo-Anne Maher
         Telephone: (345) 815 1762
         Facsimile: (345) 949 9877
         89 Nexus Way, Camana Bay
         Grand Cayman KY1-9007
         Cayman Islands


GMFF LARES: Placed Under Voluntary Wind-Up
------------------------------------------
On Dec. 21, 2012, the sole shareholder of GMFF Lares Fund resolved
to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
Jan. 21, 2013, will be included in the company's dividend
distribution.

The company's liquidator is:

         Ogier
         c/o Jo-Anne Maher
         Telephone: (345) 815 1762
         Facsimile: (345) 949 9877
         89 Nexus Way, Camana Bay
         Grand Cayman KY1-9007
         Cayman Islands


GMFF TERRA: Placed Under Voluntary Wind-Up
------------------------------------------
On Dec. 21, 2012, the sole shareholder of GMFF Terra Fund resolved
to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
Jan. 21, 2013, will be included in the company's dividend
distribution.

The company's liquidator is:

         Ogier
         c/o Jo-Anne Maher
         Telephone: (345) 815 1762
         Facsimile: (345) 949 9877
         89 Nexus Way, Camana Bay
         Grand Cayman KY1-9007
         Cayman Islands


GOLDANCE CORPORATION: Placed Under Voluntary Wind-Up
----------------------------------------------------
On Dec. 14, 2012, the sole shareholder of Goldance Corporation
Ltd. resolved to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
Jan. 14, 2013, will be included in the company's dividend
distribution.

The company's liquidator is:

         MBT Trustees Ltd.
         Telephone: 945 8859
         Facsimile: 949 9793/4
         P.O. Box 30622 Grand Cayman KY1-1203
         Cayman Islands


GTI6 MANGAKAHIA: Commences Liquidation Proceedings
--------------------------------------------------
On Dec. 20, 2012, the shareholders of GTI6 Mangakahia Investment
Co. Ltd. resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Jan. 30, 2013, will be included in the company's dividend
distribution.

The company's liquidator is:

         Intertrust Corporate Services (Cayman) Limited
         190 Elgin Avenue, George Town
         Grand Cayman KY1-9005
         Cayman Islands
         c/o Jennifer Chailler
         Telephone: (345) 914 3115


NB OFFSHORE FUND II: Commences Liquidation Proceedings
------------------------------------------------------
On Dec. 19, 2012, the sole member of NB Offshore Long/Short Fund
II Ltd. resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Jan. 21, 2013, will be included in the company's dividend
distribution.

The company's liquidator is:

         Gene Dacosta
         c/o Tania Dons
         Telephone: (345) 814 7766
         Facsimile: (345) 945 3902
         P.O. Box 2681 Grand Cayman KY1-1111
         Cayman Islands


NB OFFSHORE LONG/SHORT: Placed Under Voluntary Wind-Up
------------------------------------------------------
On Dec. 19, 2012, the sole member of NB Offshore Long/Short Fund
Ltd. resolved to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
Jan. 21, 2013, will be included in the company's dividend
distribution.

The company's liquidator is:

         Gene Dacosta
         c/o Tania Dons
         P.O. Box 2681 Cayman Islands


NB OFFSHORE MASTER: Commences Liquidation Proceedings
-----------------------------------------------------
On Dec. 19, 2012, the sole member of NB Offshore Long/Short Master
Fund Ltd. resolved to voluntarily liquidate the company's
business.

Only creditors who were able to file their proofs of debt by
Jan. 21, 2013, will be included in the company's dividend
distribution.

The company's liquidator is:

         Gene Dacosta
         c/o Tania Dons
         Telephone: (345) 814 7766
         Facsimile: (345) 945 3902
         P.O. Box 2681 Grand Cayman KY1-1111
         Cayman Islands


OPTIMA PARTNERS: Placed Under Voluntary Wind-Up
-----------------------------------------------
On Dec. 20, 2012, the sole member of The Optima Partners Focus
Adviser Series Limited resolved to voluntarily wind up the
company's operations.

Only creditors who were able to file their proofs of debt by
Jan. 22, 2013, will be included in the company's dividend
distribution.

The company's liquidator is:

         Gene Dacosta
         c/o Maree Martin
         Telephone: (345) 814 7376
         Facsimile: (345) 945 3902
         P.O. Box 2681 Grand Cayman KY1-1111
         Cayman Islands


RENAISSANCE GLOBAL: Placed Under Voluntary Wind-Up
--------------------------------------------------
On Dec. 6, 2012, the sole shareholder of Renaissance Global Macro
Fund Of Funds Limited resolved to voluntarily wind up the
company's operations.

Only creditors who were able to file their proofs of debt by
Jan. 21, 2013, will be included in the company's dividend
distribution.

The company's liquidator is:

         Appleby Trust (Cayman) Ltd.
         Clifton House, 75 Fort Street
         PO Box 1350 Grand Cayman KY1-1108
         Cayman Islands


SEARCH ASIAN: Placed Under Voluntary Wind-Up
--------------------------------------------
On Dec. 21, 2012, the shareholders of Search Asian Mezzanine
Capital Limited resolved to voluntarily wind up the company's
operations.

Only creditors who were able to file their proofs of debt by
Jan. 22, 2013, will be included in the company's dividend
distribution.

The company's liquidator is:

         Wang Tong
         Cheung Kong Center, 57th Floor
         2 Queen's Road Central
         Hong Kong
         Telephone: +8 (522) 826 9697
         Facsimile: +8 (522) 810 1572


SR ALTERNATIVE: Commences Liquidation Proceedings
-------------------------------------------------
On Dec. 19, 2012, the sole shareholder of SR Alternative Financing
II SPC resolved to voluntarily liquidate the company's business.

The company's liquidator is:

         Swiss Re Services Limited
         30 St Mary's Axe
         London


WORLD FUND: Commences Liquidation Proceedings
---------------------------------------------
On Dec. 19, 2012, the sole shareholder of World Fund Financial
Services resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Jan. 30, 2013, will be included in the company's dividend
distribution.

The company's liquidator is:

         Roberto Becker
         Rua Capitao Araujo
         511/1302, Centro
         Passo Fundo
         Rio Grande do Sul
         Zip Code 99010-200
         Brazil
         Telephone: +5 (554) 2103 7100/ +5 (554) 9141 1352


=============
G R E N A D A
=============


GRENADA: S&P Lowers Foreign & Local Sovereign Rating to 'SD'
------------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its foreign and
local currency sovereign credit ratings on Grenada to 'SD'
(selective default) from 'CCC+/C'.

"The downgrade to 'SD' follows the government of Grenada's
announcement that it will not pay the coupon due March 15, 2013,
on its U.S. dollar and Eastern Caribbean dollar bonds due in
2025," said Standard & Poor's credit analyst Joydeep Mukherji.
The government also announced that it does not expect to have the
funds to pay the coupon during the relevant grace periods.  The
government plans to service its Treasury bills registered in the
regional government securities market.

On Oct. 8, 2012, S&P lowered its foreign currency rating on
Grenada to 'SD' following the government's failure to pay the
coupon due Sept. 15, 2012, on its US$193 million bond due in 2025.
Subsequently, on Oct. 16, S&P raised the foreign currency
sovereign credit ratings to 'CCC+/C' because the government
made full payment on the coupon due on Sept. 15, 2012.  Earlier,
Grenada had restructured its commercial debt in 2005 (including
local currency bonds) and its Paris Club debt owed to official
creditors in 2006 after Hurricanes Ivan (2004) and Emily (2005)
destroyed much of the island's infrastructure and agricultural
capacity.

"Once the government cures its foreign currency debt default, we
will assign forward-looking foreign and local currency ratings,"
said Mr. Mukherji.  "We expect that the country's poor prospects
for economic growth, along with low external liquidity, will
continue to constrain the government's overall finances and the
new rating."


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


SARE HOLDING: Fitch Affirms National Scale LT Rating at 'CC'
------------------------------------------------------------
Fitch Ratings affirmed Sare Holding, S.A.B. de C.V.'s ratings as
follows:

-- National Scale Long Term Rating at 'CC(mex)'.
-- Certificados Bursatiles SARE 08 at 'CC(mex)'.
-- Certificados Bursatiles SARE 08-2 at 'CC(mex)'.

KEY RATING DRIVERS

The ratings reflect the significant contraction in the operative
results of the company, due to lower units sales during 2012,
negative gross, operating and EBITDA margins, and limited
flexibility in the low income segment reactivation. Fitch expects
these operational constraints to remain in 2013.

During 2012 the company was focused on reducing its financial
liabilities through the divestment program of non-core assets,
which was agreed with financial institutions for the debt
rescheduling process that the company started in October 2011.
During 2012 Sare reported total revenues of MXN1.5 billion, out of
which MXN1.1 billion were related to the sale of non-strategic
assets; however the cost of sales associated with this income was
MXN2.3 billion. In addition, in 2012 the company charged the
income statement with MXN0.7 billion due to the impairment loss in
the market value of its inventories that are expected to be sold
in the first half of 2013.

Sare's restructured bank debt is fully secured by land and housing
projects; the proceeds obtained by the sale of these assets are
been used to reduce bank debt and to reactivate low income housing
projects. Sare's local market debt maturity was rescheduled in May
2012 and terms and conditions were also modified. Sare's
Certificados Bursatiles are unsecured and subordinated to the
secured bank debt.

Fitch estimates the company could divest non-core assets during
2013 by MXN0.9 billion, of which 80 to 90 percent would go to
reduce its financial liabilities.

Sare's liquidity is limited. At year-end 2012 the company had
MXN25.3 million in cash and total debt of MXN1.9 billion, of which
18.0% is registered as short-term. This tight liquidity situation
severely limits the rate of housing production reactivation.

Fitch's current expectation is that the company will generate in
2013 EBITDA of around MXN0.1 billion with a debt / EBITDA ratio of
approximately 10.0 times (x).

RATINGS SENSITIVITY

A significant recovery in housing production along with a
generation of positive free cash flow could stabilize the
company's financial position. Another factor that could contribute
to a positive rating action is the scenario in which the company
receives extraordinary financial support from its shareholders or
third parties.

The ratings could be downgraded if liquidity deteriorates; the low
income projects reactivation has further delays and/or the sale of
strategic land deviates from current expectations.


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


CL FIN'L: Judge Finds Government Bailout Plan 'Unlawful'
--------------------------------------------------------
Joel Julien at Trinidad Express reports that High Court Judge Joan
Charles ruled the Colonial Life Insurance Company (Trinidad)
Limited (CLICO) bailout plan presented by the People's Partnership
Government was unlawful.

The State has now been ordered to pay a group of Executive
Flexible Premium Annuity (EFPA) policyholders all the money they
invested in the failed insurance giant, plus interest, according
to Trinidad Express.

The report relates that the judgment was handed down by Judge
Charles in respect to a lawsuit filed by the United Policyholders
Group that is reported to have some 400 members along with Madan
Singh, Basdeo Rajkumar, Sandra Rajkumar and Stacey Noelle Williams
against the Attorney General of Trinidad and Tobago.

The group was represented by Queen's Counsel Peter Knox, former
attorney general Ramesh Maharaj, SC, Vijaya Maharaj, and Nyala
Badal.

Queen's Counsel Allan Newman, former attorney general Russell
Martineau, SC, Kelvin Ramkissoon and Kerry Ann Oliverie
represented the State.

In its application, the United Policyholders Group contended the
bailout plan presented by the former People's National Movement
(PNM) administration amounted to a guarantee policyholders would
be reimbursed the funds they held in the cash-strapped
conglomerate, the report says.

Trinidad Express discloses that Judge Charles agreed.  "It is
declared that the claimants are the beneficiaries of legitimate
expectations engendered by representations made to them by or on
behalf of the government that (i) the government would ensure that
their funds in CLICO would be safe and that it would guarantee
repayment of all monies due to them; and (ii) the government would
make good the deficit in the Statutory Fund," her ruling stated,
the report relays.

Speaking to the media outside the Hall of Justice following the
ruling, Mr. Maharaj said the reason the policyholders left their
money in CLICO was because of the PNM's promise, the report notes.

"Based on that assurance they kept their monies in the system, and
when the new government took office, the new government decided to
come up with a plan in which they were given time to accept that
plan in that they would get their money over a period of 20
years," the report quoted Mr. Maharaj as saying.

"Interest at the rate of three per cent from September 2010 to
March 12, 2013, be paid on the said sum," the ruling stated.

The report adds that Judge Charles did not agree with the People's
Partnership's contention that it did not have the money to abide
by the PNM promise.

The State has 28 days to file an appeal.

                       About CL Financial

CL Financial Group Limited is a privately held conglomerate in
Trinidad and Tobago.  Founded as an insurance company by Cyril
Duprey, Colonial Life Insurance Company was expanded into a
diversified company by his nephew, Lawrence Duprey.  CL Financial
is now one of the largest local conglomerates in the region,
encompassing over 65 companies in 32 countries worldwide with
total assets standing at roughly US$100 billion.

                          *     *     *

As reported in the Troubled Company Reporter-Latin America on
August 10, 2009, A.M. Best Co. downgraded the financial strength
rating to C (Weak) from B (Fair) and issuer credit rating to
"ccc" from "bb" of Colonial Life Insurance Company (Trinidad)
Limited (CLICO) (Trinidad & Tobago).  The ratings remain under
review with negative implications.  CLICO is an insurance member
company of CL Financial Limited (CL Financial), a diversified
holding company based in Trinidad & Tobago.

According to a TCR-LA report on Feb. 20, 2009, citing Trinidad
and Tobago Express, Tobago President George Maxwell Richards
signed bailout bills for CL Financial, giving the government the
authority to control the company's unit, Colonial Life Insurance
Company, and giving the central bank extensive powers to treat
with CL Financial's collapse and the consequent systemic crisis.


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


* Upcoming Meetings, Conferences and Seminars
---------------------------------------------
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


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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, 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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