TCRLA_Public/130523.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, May 23, 2013, Vol. 14, No. 101


                            Headlines



C A Y M A N  I S L A N D S

ALEDO LIMITED: Commences Liquidation Proceedings
CRESSON LIMITED: Commences Liquidation Proceedings
FLEETPRIDE INVESTMENTS: Commences Liquidation Proceedings
FLEETPRIDE IIP: Commences Liquidation Proceedings
FLEETPRIDE EQUITY: Commences Liquidation Proceedings

FLEETPRIDE HOLDING: Commences Liquidation Proceedings
FPC HOLDINGS T3: Commences Liquidation Proceedings
FPC HOLDINGS T4: Commences Liquidation Proceedings
FPC HOLDINGS T5: Commences Liquidation Proceedings
FPC HOLDINGS T10: Commences Liquidation Proceedings

FPC INVESTMENTS: Commences Liquidation Proceedings
FULSHEAR LIMITED: Commences Liquidation Proceedings
INVESTCORP FLEETPRIDE: Commences Liquidation Proceedings
INVESTCORP FLEETPRIDE INVESTING: Commences Liquidation Proceedings
INVESTCORP INVESTING T4: Commences Liquidation Proceedings

INVESTCORP ISLAMIC T4: Commences Liquidation Proceedings
MET EUROPA: Creditors' Proofs of Debt Due June 6
PECOS LIMITED: Commences Liquidation Proceedings
SAJABE INC: Creditors' Proofs of Debt Due May 27
ZEGAT INC: Creditors' Proofs of Debt Due May 27


G U A T E M A L A

BANCO DE LOS TRABAJADORES: Fitch Assigns 'BB-' LT IDR


M E X I C O

EMPRESAS ICA: OMA Makes Conf. Filing With Securities Commission
EMPRESAS ICA: S&P Lowers Corporate Credit Rating to 'B+'


T R I N I D A D  &  T O B A G O

PETROTRIN: Jamaica Uncovers Scheme Involving Oil Products


X X X X X X X X

* CARIBBEAN: IDB Signs US$20MM Loan for Global Loan Program
* Upcoming Meetings, Conferences and Seminars


                            - - - - -


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


ALEDO LIMITED: Commences Liquidation Proceedings
------------------------------------------------
At an extraordinary meeting held on April 16, 2013, the members of
Aledo Limited resolved to voluntarily liquidate the company's
business.

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

The company's liquidator is:

          Westport Services Ltd.
          c/o Evania Ebanks
          Telephone: (345) 949 5122
          Facsimile: (345) 949 7920
          PO Box 1111 Grand Cayman KY1-1102
          Cayman Islands


CRESSON LIMITED: Commences Liquidation Proceedings
--------------------------------------------------
At an extraordinary meeting held on April 16, 2013, the members of
Cresson Limited resolved to voluntarily liquidate the company's
business.

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

The company's liquidator is:

          Westport Services Ltd.
          c/o Evania Ebanks
          Telephone: (345) 949 5122
          Facsimile: (345) 949 7920
          PO Box 1111 Grand Cayman KY1-1102
          Cayman Islands


FLEETPRIDE INVESTMENTS: Commences Liquidation Proceedings
---------------------------------------------------------
On April 16, 2013, the members of Fleetpride Investments Limited
resolved to voluntarily liquidate the company's business.

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

The company's liquidator is:

          Westport Services Ltd.
          c/o Evania Ebanks
          Telephone: (345) 949 5122
          Facsimile: (345) 949 7920
          PO Box 1111 Grand Cayman KY1-1102
          Cayman Islands


FLEETPRIDE IIP: Commences Liquidation Proceedings
-------------------------------------------------
At an extraordinary meeting held on April 16, 2013, the members of
Fleetpride IIP Limited resolved to voluntarily liquidate the
company's business.

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

The company's liquidator is:

          Westport Services Ltd.
          c/o Evania Ebanks
          Telephone: (345) 949 5122
          Facsimile: (345) 949 7920
          PO Box 1111 Grand Cayman KY1-1102
          Cayman Islands


FLEETPRIDE EQUITY: Commences Liquidation Proceedings
----------------------------------------------------
At an extraordinary meeting held on April 16, 2013, the members of
Fleetpride Equity Limited resolved to voluntarily liquidate the
company's business.

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

The company's liquidator is:

          Westport Services Ltd.
          c/o Evania Ebanks
          Telephone: (345) 949 5122
          Facsimile: (345) 949 7920
          PO Box 1111 Grand Cayman KY1-1102
          Cayman Islands


FLEETPRIDE HOLDING: Commences Liquidation Proceedings
-----------------------------------------------------
At an extraordinary meeting held on April 16, 2013, the members of
Fleetpride Holding Limited resolved to voluntarily liquidate the
company's business.

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

The company's liquidator is:

          Westport Services Ltd.
          c/o Evania Ebanks
          Telephone: (345) 949 5122
          Facsimile: (345) 949 7920
          PO Box 1111 Grand Cayman KY1-1102
          Cayman Islands


FPC HOLDINGS T3: Commences Liquidation Proceedings
--------------------------------------------------
At an extraordinary meeting held on April 16, 2013, the members of
FPC Holdings T3 Limited resolved to voluntarily liquidate the
company's business.

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

The company's liquidator is:

          Westport Services Ltd.
          c/o Evania Ebanks
          Telephone: (345) 949 5122
          Facsimile: (345) 949 7920
          PO Box 1111 Grand Cayman KY1-1102
          Cayman Islands


FPC HOLDINGS T4: Commences Liquidation Proceedings
--------------------------------------------------
At an extraordinary meeting held on April 16, 2013, the members of
FPC Holdings T4 Limited resolved to voluntarily liquidate the
company's business.

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

The company's liquidator is:

          Westport Services Ltd.
          c/o Evania Ebanks
          Telephone: (345) 949 5122
          Facsimile: (345) 949 7920
          PO Box 1111 Grand Cayman KY1-1102
          Cayman Islands


FPC HOLDINGS T5: Commences Liquidation Proceedings
--------------------------------------------------
At an extraordinary meeting held on April 16, 2013, the members of
FPC Holdings T5 Limited resolved to voluntarily liquidate the
company's business.

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

The company's liquidator is:

          Westport Services Ltd.
          c/o Evania Ebanks
          Telephone: (345) 949 5122
          Facsimile: (345) 949 7920
          PO Box 1111 Grand Cayman KY1-1102
          Cayman Islands


FPC HOLDINGS T10: Commences Liquidation Proceedings
---------------------------------------------------
At an extraordinary meeting held on April 16, 2013, the members of
FPC Holdings T10 Limited resolved to voluntarily liquidate the
company's business.

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

The company's liquidator is:

          Westport Services Ltd.
          c/o Evania Ebanks
          Telephone: (345) 949 5122
          Facsimile: (345) 949 7920
          PO Box 1111 Grand Cayman KY1-1102
          Cayman Islands


FPC INVESTMENTS: Commences Liquidation Proceedings
--------------------------------------------------
At an extraordinary meeting held on April 16, 2013, the members of
FPC Investments Limited resolved to voluntarily liquidate the
company's business.

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

The company's liquidator is:

          Westport Services Ltd.
          c/o Evania Ebanks
          Telephone: (345) 949 5122
          Facsimile: (345) 949 7920
          PO Box 1111 Grand Cayman KY1-1102
          Cayman Islands


FULSHEAR LIMITED: Commences Liquidation Proceedings
---------------------------------------------------
At an extraordinary meeting held on April 16, 2013, the members of
Fulshear Limited resolved to voluntarily liquidate the company's
business.

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

The company's liquidator is:

          Westport Services Ltd.
          c/o Evania Ebanks
          Telephone: (345) 949 5122
          Facsimile: (345) 949 7920
          PO Box 1111 Grand Cayman KY1-1102
          Cayman Islands


INVESTCORP FLEETPRIDE: Commences Liquidation Proceedings
--------------------------------------------------------
At an extraordinary meeting held on April 16, 2013, the members of
Investcorp Fleetpride Islamic Financing Limited resolved to
voluntarily liquidate the company's business.

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

The company's liquidator is:

          Westport Services Ltd.
          c/o Evania Ebanks
          Telephone: (345) 949 5122
          Facsimile: (345) 949 7920
          PO Box 1111 Grand Cayman KY1-1102
          Cayman Islands


INVESTCORP FLEETPRIDE INVESTING: Commences Liquidation Proceedings
------------------------------------------------------------------
At an extraordinary meeting held on April 16, 2013, the members of
Investcorp Fleetpride Investing Limited resolved to voluntarily
liquidate the company's business.

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

The company's liquidator is:

          Westport Services Ltd.
          c/o Evania Ebanks
          Telephone: (345) 949 5122
          Facsimile: (345) 949 7920
          PO Box 1111 Grand Cayman KY1-1102
          Cayman Islands


INVESTCORP INVESTING T4: Commences Liquidation Proceedings
----------------------------------------------------------
At an extraordinary meeting held on April 16, 2013, the members of
Investcorp Fleetpride Investing T4 Limited resolved to voluntarily
liquidate the company's business.

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

The company's liquidator is:

          Westport Services Ltd.
          c/o Evania Ebanks
          Telephone: (345) 949 5122
          Facsimile: (345) 949 7920
          PO Box 1111 Grand Cayman KY1-1102
          Cayman Islands


INVESTCORP ISLAMIC T4: Commences Liquidation Proceedings
--------------------------------------------------------
At an extraordinary meeting held on April 16, 2013, the members of
Investcorp Fleetpride Islamic Financing T4 Limited resolved to
voluntarily liquidate the company's business.

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

The company's liquidator is:

          Westport Services Ltd.
          c/o Evania Ebanks
          Telephone: (345) 949 5122
          Facsimile: (345) 949 7920
          PO Box 1111 Grand Cayman KY1-1102
          Cayman Islands


MET EUROPA: Creditors' Proofs of Debt Due June 6
------------------------------------------------
The creditors of Met Europa Fund Limited are required to file
their proofs of debt by June 6, 2013, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on April 22, 2013.

The company's liquidator is:

          DMS Corporate Services Ltd
          c/o Ronan Guilfoyle
          Telephone: (345) 946 7665
          Facsimile: (345) 946 7666
          dms House, 2nd Floor
          P.O. Box 1344 Grand Cayman KY1-1108
          Cayman Islands


PECOS LIMITED: Commences Liquidation Proceedings
------------------------------------------------
At an extraordinary meeting held on April 16, 2013, the members of
Pecos Limited resolved to voluntarily liquidate the company's
business.

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

The company's liquidator is:

          Westport Services Ltd.
          c/o Evania Ebanks
          Telephone: (345) 949 5122
          Facsimile: (345) 949 7920
          PO Box 1111 Grand Cayman KY1-1102
          Cayman Islands


SAJABE INC: Creditors' Proofs of Debt Due May 27
------------------------------------------------
The creditors of Sajabe, Inc. are required to file their proofs of
debt by May 27, 2013, to be included in the company's dividend
distribution.

The company commenced liquidation proceedings on April 19, 2013.

The company's liquidator is:

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


ZEGAT INC: Creditors' Proofs of Debt Due May 27
-----------------------------------------------
The creditors of Zegat Inc. are required to file their proofs of
debt by May 27, 2013, to be included in the company's dividend
distribution.

The company commenced liquidation proceedings on April 19, 2013.

The company's liquidator is:

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


=================
G U A T E M A L A
=================


BANCO DE LOS TRABAJADORES: Fitch Assigns 'BB-' LT IDR
-----------------------------------------------------
Fitch Ratings has assigned an initial 'BB-' long-term foreign
currency Issuer Default Rating (IDR) to the Banco de los
Trabajadores (Bantrab) in Guatemala. The Rating Outlook is Stable.
Fitch has also assigned a Viability Rating (VR) of 'bb-'.

KEY RATING DRIVERS

Bantrab's IDRs and VR reflect its improved asset quality, ample
net interest margin and moderate but sustained profitability
ratios. The bank's ratings also reflect significant concentrations
in term deposits, weak efficiency levels, moderate capital ratios
and limited income diverisfication. Bantrab's support rating and
support rating floor of '5' and 'NF', respectively, indicates
that, although possible, external support cannot be relied upon,
given the current low state ownership and limited systematic
importance.

Bantrab's credit quality improved significantly over the past few
years and now compares adequately with other similar rated banks.
The bank exhibits a low obligor concentration, foreign currency
exposure and level of non-domiciliated loans. Credit quality
benefits from a collection structure based on payroll deduction
(over 92% of the loan book). Bantrab is a higher-tiered creditor
within the waterfall payment by law.

The entity has sustained moderate profitability ratios over the
years, given the market segment it targets (consumption loans to
low-middle income employees). The weak efficiency levels,
reflecting continued investments in infrastructure and personnel
expenses, as well as the high impairment charges, as a consequence
from the absorption of Banco de la Republica (BanRep), continues
to subdue profitability, despite the entity's ample net interest
margins and higher revenues originated through double-digit loan
growth.

In Fitch's view, profitability ratios will gradually improve and
will be underpinned by higher growth within the current target
segments and lower needs for further impairment charges,
considering the adequate reserve coverage levels achieved to this
date. Fitch expects profitability to reach 2% for the ROAA and 20%
for the ROAE within the next three years.

Bantrab's funding structure is similar to its major domestic
peers, anchored by a large retail deposit base. Deposits provide
90% of total non-equity funding and are mostly concentrated in the
form of term deposits, thus entailing a significant higher cost
than most players in the local market. Bantrab has a moderate
concentration in the largest 20 depositors (Dec. 2012: 25.6%; Dec.
2011: 26.1%). Liquidity base remain sound and high; nevertheless,
Fitch believes it will decrease as resources are redirected to the
loan portfolio.

Bantrab's capital position will remain pressured given the bank's
anticipated asset growth. The average growth rate of assets has
been 27.5% between 2008 and 2012, and is expected to continue in
the medium term as growth is a fundamental objective in its
strategy. As Bantrab is limited to issue additional common stock
(no shareholder, with the exception of the state, is allowed to
own more than USD2,500 worth in shares by law), in order to
strengthen its regulatory capital and support further growth, the
bank is planning to issue preferred shares for Q 156.6 million.
Fitch expects the Fitch Core Capital ratio to be sustained above
11% in the medium term, favored by a strong capital generation
capability and a controlled asset growth.

RATING SENSITIVITIES

The Stable Outlook reflects Fitch's expectation of no substantial
changes in Bantrab's risk profile in the foreseeable future.
However, the bank's ratings are sensitive to a change in Fitch's
assumptions around asset quality, profitability and capital
position. A significant and unexpected reduction of the bank's
capital ratios (fitch core capital < 11%), a period of sustained
low earnings (ROAA < 1%) or an important deterioration in its
asset quality would trigger a negative rating action. Bantrab's
upside potential is considered limited by its relatively narrow
business model that results in concentrations on its revenue
sources. However, Bantrab's rating could be upgraded should it
successful grow with greater revenue diversification and further
consolidation of its franchise, while sustaining an adequate
capital position.

PROFILE

Bantrab was established in Guatemala in 1965 with an initial
equity investment of Qtlz. 500,000 from the Central Government of
Guatemala. The bank is mainly retail oriented and focuses its
services on consumption loans to low-middle income employees.
Bantrab is currently the sixth largest bank in Guatemala in terms
of assets (Dec. 2012: 4.9% of the system's assets) and has
traditionally provided its services through an ample network of
branches, covering most parts of the country, supported by a work
force of 3,300 employees.

Fitch has assigned the following ratings:

Banco de los Trabajadores
-- Long-term foreign currency IDR 'BB-'; Outlook Stable;
-- Short-term foreign currency IDR 'B';
-- Long-term local currency IDR 'BB-'; Outlook Stable;
-- Short-term local currency IDR 'B';
-- Viability rating 'bb-';
-- Support '5';
-- Support Rating Floor 'NF'.


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


EMPRESAS ICA: OMA Makes Conf. Filing With Securities Commission
---------------------------------------------------------------
Empresas ICA, S.A.B. de C.V. and Mexican airport operator Grupo
Aeroportuario del Centro Norte, S.A.B. de C.V., known as OMA
disclosed that OMA has made a confidential filing with the
Comision Nacional Bancaria y de Valores relating to the potential
future sale of up to 100 million of its Series B shares, without
par value, by ICA's wholly owned subsidiary, Aeroinvest, S.A. de
C.V.

This filing is intended to allow ICA the flexibility to sell a
portion of its shares in OMA should it determine that market and
other conditions are appropriate.  If ICA decides to go forward
with sale of OMA's Series B shares (directly or in the form of
American Depositary Shares, ADSs), ICA would receive all proceeds
from such sale.

In addition, ICA expects to retain a controlling interest in OMA
through its ownership of OMA's Series BB shares.

This CNBV filing complements the shelf registration statement on
Form F-3 filed with the U.S. Securities and Exchange Commission on
May 15, 2013.

These securities may not be sold nor may offers to buy be accepted
prior to the time the National Banking and Securities Commission
approves a public offering in Mexico.

Empresas ICA, S.A.B. de C.V. -- http://www.ica.com.mx/-- is an
infrastructure company in Mexico.  ICA carries out large-scale
civil and industrial construction  projects and operates a
portfolio of long-term assets, including airports, toll roads,
water systems, and real estate. Founded in 1947, lCA is listed on
the Mexican and New York Stock exchanges.


EMPRESAS ICA: S&P Lowers Corporate Credit Rating to 'B+'
--------------------------------------------------------
Standard & Poor's Ratings Services lowered its global scale
corporate credit rating on Empresas ICA S.A.B. de C.V. (ICA) to
'B+' from 'BB-' and its national scale rating to 'mxBBB' from
'mxBBB+'.  At the same time, S&P lowered its issue-level rating to
'B' from 'B+', and S&P affirmed the '5' recovery rating on the
company's senior unsecured notes due 2017 and 2021, which
indicates a "modest" (10% to 30%) expectation for recovery in the
event of a payment default.  The outlook is negative.

"The rating actions follow our reassessment of ICA's prospective
financial performance for 2013 and 2014, in light of the delays in
backlog execution, and debt increase at the holding company level
to fund the completion of existing projects, which have reduced
its financial flexibility and liquidity," said Standard & Poor's
credit analyst Luis Martinez Manuel.  Based on the slower
implementation of projects during the first months of 2013 that
feed into ICA's backlog, and considering that construction
activities could remain sluggish during the second half of the
year, S&P has revised its annual revenue growth prospects on ICA
to mid-single digits.  In S&P's view, this will likely weaken cash
flow generation during 2013, and cause key financial metrics to
remain below its guidelines for a 'BB-' rating.  As a result, S&P
is now assessing ICA's financial risk profile as "highly
leveraged."

The rating actions incorporate ICA's recent announcement that it
may divest of its airport division, Grupo Aeroportuario del Centro
Norte S.A.B. de C.V. (OMA; National scale: mxAA+/Stable/mxA-1+),
allowing the company to raise approximately $400 million in cash.
In S&P's view, this transaction does not affect its expectations
of OMA's nominal dividend stream to ICA during the next twelve
months, as OMA recently announced an increase in its dividend
payment that will reach MXN1.2 billion.  S&P expects that proceeds
from this capitalization will be used to reduce short-term debt,
although S&P believes that the transaction will not address the
company's debt maturities for the next twelve months in their
entirety.


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


PETROTRIN: Jamaica Uncovers Scheme Involving Oil Products
---------------------------------------------------------
Caribbean360.com reports that Jamaica has imposed additional
duties on lube oil product from Trinidad and Tobago, accusing the
oil rich twin island republic of engaging in a scheme to
circumvent the rules of origin in the Treaty of Chaguaramas,
governing the Caribbean Community (CARICOM).

Industry, Investment and Commerce Minister Anthony Hylton told
parliament the scheme was brought to the attention of the Portia
Simpson Miller administration by the private sector.

"The alleged scheme involved the exportation of lubrication oil by
the state owned oil company PETROTRIN (Petroleum Company of
Trinidad and Tobago) which holds the dominant share of the
Jamaican market for this product. . . . The product has been
claiming CARICOM origin status for years without attracting the
applicable duties under the Customs Act.  The submission by the
Jamaican private sector firm alleged that there was
misrepresentation in regards to origin in that the product was
being represented to be a product of Trinidad and Tobago when it
was not," the report quoted Mr. Hylton as saying.

The report notes that Mr. Hylton said after discussions with an
inter-ministerial trade enforcement team, Jamaica Customs issued a
verification query on the product to the Trinidad and Tobago
Customs and Excise Division.

"The applicable rules require the Trinidad and Tobago Government
to respond to a verification request within six weeks, it is now
over six months and there has been no verification response by the
Government of Trinidad and Tobago.  The silence is deafening," Mr.
Hylton added, the report relates.

Under the treaty, the Jamaica Customs Department can impose
interim charges equivalent to the duties to be applied in the
circumstance, and to place the money into a special escrow account
that came into effect last December, the report notes.

To date the accumulated amount in the account is in excess of
J$184.2 million (One Jamaican dollar = US$0.01 cents) and Mr.
Hylton said the money would be transferred to the Consolidated
Fund, the report discloses.

Meanwhile, the Jamaica Manufacturers' Association (JMA) has
endorsed the move by the government to clamp down on goods
misrepresented as originating in CARICOM to evade duties, the
report adds.

                         About Petrotrin

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

                         *     *     *

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


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


* CARIBBEAN: IDB Signs US$20MM Loan for Global Loan Program
-----------------------------------------------------------
The Inter-American Development Bank signed a US$20 million loan
for a Global Loan Program with the Caribbean Development Bank
(CDB) for projects in the four IDA-eligible Organization of
Eastern Caribbean States (OECS) member countries.  This loan was
approved May 20 by the CDB's board.

The CDB will on-lend the funds for the financing of public sector
projects in Dominica, Grenada, St. Lucia and St. Vincent and the
Grenadines.  These small open economies are vulnerable to external
economic shocks and natural disasters.  They are also still
reeling from the effects of the recent financial crisis.

The new approved program will help address the social and economic
challenges of these non-IDB member countries, constrained by their
limited access to longer term and lower cost credit resources.
The loan will support areas such as education, infrastructure,
mitigation and adaptation to climate change and also policy based
operations (up to 25% of the resources can be used to finance
PBLs).  Resources will be allocated by CDB based on its country
strategy and programming processes.

The IDB charter was amended in 1977 to allow the Bank to provide
financial resources to the CDB to support its member countries.
Prior to the approval of the new loan, the IDB had financed four
global loan programs to the CDB totaling US$104 million, as well
as various technical cooperation operations.

The approved program will be financed by US$14 million from the
IDB's ordinary capital, and US$6 million from the Bank's Fund for
Special Operations, (concessional funds) with an amortization
period of 30 and 40 years respectively.  CDB has lowered its fees
on the concessional portion of the loan, in order for the
beneficiary countries to access these resources at more favorable
rates.


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

                            ***********


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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