TCRLA_Public/130529.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

           Wednesday, May 29, 2013, Vol. 14, No. 105


                            Headlines



A R G E N T I N A

* Alianza Seguros' and Alianza Vida's IFS Ratings Affirmed at B2
* Nacional Vida's and Latina Seguros' IFS Ratings Affirmed at B2


B R A Z I L

BANCO PANAMERICANO: Seen Extending Stock Rally After Rescue


C A Y M A N  I S L A N D S

ALEDO LIMITED: Shareholders' Final Meeting Set for June 18
CR INVESTMENT: Members Receive Wind-Up Report
CRESSON LIMITED: Shareholders' Final Meeting Set for June 18
FLEETPRIDE EQUITY: Shareholders' Final Meeting Set for June 18
FLEETPRIDE IIP: Shareholders' Final Meeting Set for June 18

FLEETPRIDE INVESTMENTS: Shareholders' Meeting Set for June 18
FPC EQUITY: Shareholders' Final Meeting Set for June 18
FPC HOLDINGS T3: Shareholders' Final Meeting Set for June 18
FPC HOLDINGS T4: Shareholders' Final Meeting Set for June 18
FPC HOLDINGS T5: Shareholders' Final Meeting Set for June 18

FPC HOLDINGS T10: Shareholders' Final Meeting Set for June 18
FPC INVESTMENTS: Shareholders' Final Meeting Set for June 18
FULSHEAR LIMITED: Shareholders' Final Meeting Set for June 18
GPF FLEETPRIDE: Shareholders' Final Meeting Set for June 18
INVESTCORP FLEETPRIDE: Shareholders' Final Meeting Set for June 18

INVESTCORP FLEETPRIDE T4: Shareholders' Meeting Set for June 18
INVESTCORP ISLAMIC: Shareholders' Final Meeting Set for June 18
INVESTCORP ISLAMIC T4: Shareholders' Meeting Set for June 18
PECOS LIMITED: Shareholders' Final Meeting Set for June 18
TRAILER EQUITY: Shareholders' Final Meeting Set for June 18


                            - - - - -


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


* Alianza Seguros' and Alianza Vida's IFS Ratings Affirmed at B2
----------------------------------------------------------------
Moody's Latin America has affirmed its insurance financial
strength (IFS) ratings of Alianza Seguros y Reaseguros S.A. and
Alianza Vida Seguros y Reaseguros S.A. at B2 global local-currency
and Aa3.bo Bolivian national scale. The outlooks for both
companies remain stable.

Alianza Seguros is a leading property-casualty (P&C) insurer in
the Bolivian market, focused primarily on fire & allied perils,
personal accident and automobile segments, while the smaller
Alianza Vida is a mid-sized life insurer operating in the same
country, which focuses on the credit insurance, health and life
segments. The two Bolivian insurers share a common brand, as well
as common ownership. The main shareholder of both companies is the
Peruvian insurance group La Positiva Seguros y Reaseguros, while
other shareholders include Corporacion Cervesur (Peru) and local
businessmen.

Rating Rationale:

Moody's ratings on Alianza Seguros reflect the company's adequate
positioning in the local market, being the leading player in the
health insurance segment and one of the largest companies in terms
of gross premiums for the overall P&C market. Another key company
strength is its sustained profitability track record, with an
19.5% average return on capital during the past five years.
However, these strengths are tempered by several credit concerns
and challenges, including Alianza Seguros' significant investment
risk (given the concentration in below investment-grade assets,
also common with other local insurers), its high business
dependence on specific clients, its weak capital adequacy and its
very rapid growth over the past few years in a highly competitive
insurance market, which has pressured the company's capitalization
and earnings.

With respect to Alianza Vida, the rating agency noted that its
ratings are based on the company's sustained and adequate
profitability (five year average return on capital of 18%), its
control over distribution channels and the relatively low product
risk of its key business lines of credit life and accident/health
insurance. Other credit strengths include the positive
characteristics of the company's main shareholders - the Peruvian
insurance group La Positiva Seguros y Reaseguros and several
Bolivian and Peruvian businessmen -- and the ownership and
integration with its P&C affiliate, Alianza Seguros, in terms of
common management, brand and some of its customers. Nevertheless,
these strengths are considerably mitigated by Alianza Vida's
significant investment risk - a weakness also present at other
Bolivian insurers -- by its weak capitalization, and its very
significant client and distributor concentration (e.g., the top
two group policyholders in the group life segment represent more
than 41% of the company's gross premiums written in fiscal year
2012).

Moody's analyst Diego Nemirovsky noted: "The weak operating
environment of Bolivia and the very limited development of the
insurance market in Bolivia compared to that of other countries,
negatively affects both company's credit profile, as reflected in
Moody's assessment of systemic risks related to the country's
economy".

Among the factors that could lead to an upgrade of Alianza
Seguros' ratings are the following: 1) changes in local regulation
that would allow investing in assets with a higher credit profile
outside Bolivia, and could lead to increased diversification of
investments (e.g., investment-grade assets representing more than
50% of total investments); 2) sustained improvement in its
capitalization (e.g. gross underwriting leverage less than 4x); 3)
further product diversification, with two other lines each
representing at least 10% of total premiums; 4) improvement in the
company's reserve adequacy; and 5) significant improvement in the
Bolivian government bond rating and/or the country's operating
environment. Factors that could result in a rating downgrade for
Alianza Seguros include the following: 1) gross underwriting
leverage rising to more than 8 times shareholders' equity; 2)
sustained reduction in the company's market share; 3) prolonged
weakening of profitability and/or underwriting performance, with
return on capital consistently below 5%; and 4) significant
deterioration in the Bolivian government bond rating and/or the
country's operating environment.

For Alianza Vida, among factors that could result in a rating
upgrade are a combination of the following: 1) a significant
improvement in Bolivia's bond rating and/or operating environment;
2) a more diversified business profile, with at least two other
business lines each representing 10% or more of net premiums; 3)
lower client concentration based on gross premiums; 4) significant
growth in market share while maintaining good profitability, and
5) changes in local regulation that would allow investing outside
Bolivia, and that could lead to increased diversification of
investments (e.g., investment grade assets representing more than
50% of total investments). Factors that could result in a rating
downgrade include the following: 1) a sharp decline in the
company's equity/total assets ratio (e.g., below 10%); 2)
sustained deterioration in the company's profitability; or 3)
significant deterioration in the Bolivian government bond rating
and/or the country's operating environment.

The methodologies used in these ratings were Moody's Global Rating
Methodology for Property and Casualty Insurers published in May
2010, and Moody's Global Rating Methodology for Life Insurers.

Alianza Seguros, headquartered in Santa Cruz, Bolivia, reported
net income of BOB5.3 million and gross premiums of BOB130 million
for the first quarter of the 2013 fiscal year, ended March 31.
During 1Q2013 shareholders' equity decreased to BOB82 million,
down 8% from BOB89 million reported at year-end 2012, due to
dividend distribution of BOB8 million. Also based in Santa Cruz,
Alianza Vida reported net income of BOB2.7 million and gross
premiums of BOB34 million for the first quarter of the 2013 fiscal
year; shareholders' equity was BOB33.7 million at March 31, 2013,
down 1% from BOB34 million at fiscal year-end 2012, due to
dividend distribution of BOB3 million.

Moody's insurance financial strength ratings are opinions of the
ability of insurance companies to pay punctually senior
policyholder claims and obligations.

Moody's National Scale Ratings (NSRs) are intended as relative
measures of creditworthiness among debt issues and issuers within
a country, enabling market participants to better differentiate
relative risks. NSRs differ from Moody's global scale ratings in
that they are not globally comparable with the full universe of
Moody's rated entities, but only with NSRs for other rated debt
issues and issuers within the same country. NSRs are designated by
a ".nn" country modifier signifying the relevant country, as in
".mx" for Mexico.


* Nacional Vida's and Latina Seguros' IFS Ratings Affirmed at B2
----------------------------------------------------------------
Moody's Latin America has affirmed its insurance financial
strength (IFS) ratings of Nacional Vida Seguros de Personas S.A.
and Latina Seguros Patrimoniales S.A., both at B2 global local-
currency and Aa3.bo Bolivian national scale. The outlook for
Nacional Vida was changed to positive from stable, whereas the
outlook for Latina Seguros remains stable.

Nacional Vida is a leading privately-owned Bolivian life insurance
company and is engaged in the individual and group life segment of
the market. It owns 98% of Latina Seguros -- a smaller P&C insurer
-- enabling the group to offer a wide array of insurance products
to individuals, businesses and public organizations.

Rating Rationale:

According to Moody's, Nacional Vida's insurance financial strength
ratings are based on the insurer's adequate market position and
brand in the Bolivian life insurance market, control over its
distribution, and sustained profitability. Its integration with
recently-established P&C insurer Latina Seguros is also a positive
credit consideration as it allows Nacional Vida Group to compete
in the more important general insurance market.

The company maintains an approximate 39% market share in the local
life market (based on net premiums written in 2012), mainly due to
its wide network of exclusive agents. The company's solid five-
year average return on capital of 17.3% derives largely from
investment income. These credit strengths are constrained
primarily by its very weak asset quality and capitalization, and
by Bolivia's significant systemic country-specific risk.

In the case of Latina Seguros, Moody's explained that its
insurance financial strength ratings reflect its integration with,
and the implicit support provided by, its parent Nacional Vida
Seguros. Latina Seguros began operations in 2007 and therefore has
a limited operating history in the market. It remains in a start-
up growth phase and has not yet achieved sustained profitability.
Although the company is concentrated in two business lines, its
product risk is relatively low, in Moody's view. The credit
strengths are constrained by its very modest market position, weak
asset quality and capitalization, and significant systemic
country-specific risk.

In changing the outlook for Nacional Vida's ratings' to positive
from stable, Moody's noted that the company has gained market
share in recent years, together with better profitability ratios.
Moody's further noted that sustained profitable business
diversification in the health segment is a positive for the
company's credit fundamentals. Moody's analyst Diego Nemirovsky
noted: "Although asset/liability spread compression risk was a
greater concern in the past, Nacional Vida has successfully
diminished that risk during the last three years; however,
Nacional's strengths are somewhat offset by Latina's relative
weaknesses."

Among the factors that could lead to an upgrade of Nacional Vida's
ratings are the following: 1) sustained profitable business
diversification, e.g. with three business lines representing 10%
of total premium revenues; 2) higher, sustained profitability,
with returns on capital above 15%; 3) less burdensome dividend
policy; 4) changes in local regulation that would allow investing
in investments having a stronger credit profile outside Bolivia,
and could lead to an increase in investment diversification (e.g.
high risk assets representing less than 80% of shareholders'
equity); and 5) significant improvement in Bolivia's government
bond rating and/or the country's operating environment. Factors
that could result in a rating downgrade for Nacional Vida include
the following: 1) a significant reduction in market share; 2)
materially greater concentration in one of its main business
lines; 3) negative pressures on its financial profile coming from
possible capital contributions to its affiliate Latina Seguros;
and 4) significant deterioration in Bolivia's government bond
rating and/or the country's operating environment.

For Latina Seguros, among factors that could result in a rating
upgrade are the following: 1) profitable business diversification,
e.g. with at least three business lines each representing 20% or
more of total premiums; 2) sustained profitability, with returns
on capital above 10%; 3) changes in local regulation that would
allow investing outside Bolivia, and could lead to an increase in
investment diversification (e.g. high risk assets representing
less than 80% of shareholders' equity); and 4) significant
improvement in Bolivia's government bond rating and/or the
country's operating environment. Factors that could result in a
rating downgrade include: 1) significant reduction in market
share; 2) higher concentration in one of its main business lines;
3) entering the more volatile and risky mandatory automobile
insurance segment; 4) gross underwriting leverage sustained above
7x; 5) deterioration in the credit profile of Nacional Vida, owner
of Latina Seguros; or 6) significant deterioration in Bolivia's
government bond rating and/or the country's operating environment.

The methodologies used in these ratings were Moody's Global Rating
Methodology for Property and Casualty Insurers published in May
2010, and Moody's Global Rating Methodology for Life Insurers,
published in May 2010.

Headquartered in Santa Cruz, Bolivia, Nacional Vida reported a net
profit of BOB2.3 million for the first quarter of the 2013 fiscal
year, and total assets of BOB233 million and shareholders' equity
(including its investment in Latina Seguros) of BOB47.7 million as
of March 31, 2013, which includes a dividend distribution of
BOB4.9 million. Also headquartered in Santa Cruz, Latina Seguros
reported net income of BOB1.9 million for the first quarter of the
2013 fiscal year, and total assets of BOB85 million and
shareholders' equity of BOB22 million as of March 31, 2013.

Moody's insurance financial strength ratings are opinions of the
ability of insurance companies to pay punctually senior
policyholder claims and obligations.

Moody's National Scale Ratings (NSRs) are intended as relative
measures of creditworthiness among debt issues and issuers within
a country, enabling market participants to better differentiate
relative risks. NSRs differ from Moody's global scale ratings in
that they are not globally comparable with the full universe of
Moody's rated entities, but only with NSRs for other rated debt
issues and issuers within the same country. NSRs are designated by
a ".nn" country modifier signifying the relevant country, as in
".mx" for Mexico.


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


BANCO PANAMERICANO: Seen Extending Stock Rally After Rescue
-----------------------------------------------------------
Francisco Marcelino writing for Bloomberg News reports that Banco
Panamericano SA, one of seven mid-size Brazilian banks requiring a
bailout or liquidated since 2010, is forecast by analysts to
extend an industry-leading rally fueled by a BRL3.8 billion-real
(US$1.9 billion) rescue that has it outperforming controlling
shareholder Grupo BTG Pactual.

Panamericano surged 28 percent this year in Sao Paulo trading to
6.58 reais, the best return in the 15-company Brazil Financial
Index and almost four times as much as BTG, according to Bloomberg
News.

Bloomberg News notes that Sao Paulo-based BTG took a stake in the
company in 2011 amid a criminal probe into accounting
irregularities, which is still under way.

Bloomberg News discloses that Panamericano's first-quarter profit
ended a three-quarter stream of losses and was the highest in two
years.

"Panamericano is the only successful restructuring story
of the Brazilian mid-size banking crisis. . . . I see more room
for the stock to rise," Bloomberg News quoted Rodolfo Amstalden,
an analyst at consulting firm Empiricus Research in Sao Paulo, as
saying.

Bloomberg News notes that banks with market values between BRL1
billion and BRL5 billion tumbled after Panamericano needed a
bailout from the nation's privately owned deposit-insurance fund
and Banco Cruzeiro do Sul SA collapsed last year.

Five other lenders including Banco Morada SA and Banco Schahin SA
were bailed out or liquidated amid a credit squeeze following
Lehman Brothers Holdings Inc.'s bankruptcy in 2008, Bloomberg News
recalls.

Meanwhile, Bloomberg News relays that Panamericano reported a
BRL39 million-real profit for the first quarter as it reduced
provisions for bad loans 10 percent and expanded its credit
portfolio 37 percent.  That compares with lending growth of about
17 percent for the rest of the industry, according to data from
the central bank, Bloomberg News says.

                      About Banco Panamericano

Banco Panamericano SA offers loans, personal credit, investments,
credit cards, and lease financing.  Banco Panamericano operates
throughout Brazil.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
November 12, 2010, Bloomberg News said that Banco PanAmericano SA
could have been liquidated or subjected to a central bank
intervention to sell its assets if its controller had not tapped
BRL2.5 billion from Brazil's deposit insurance fund to rescue the
bank.  According to the report, Mr. Ferreira said that talks to
rescue PanAmericano started Oct. 11 and were conducted by
Brazilian media mogul Silvio Santos, who controls the bank.

As of Nov. 17, 2011, the company continues to carry Moody's 'Ba2'
long-term supported global local currency deposit rating, long-
term foreign currency deposit and senior unsecured debt ratings.
It also carries Moody's 'Ba3' bank's foreign currency
subordinated debt rating.


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


ALEDO LIMITED: Shareholders' Final Meeting Set for June 18
----------------------------------------------------------
The shareholders of Aledo Limited will hold their final meeting on
June 18, 2013, at 1:15 p.m. to receive the liquidator's report on
the company's wind-up proceedings and property disposal.

The company's liquidator is:

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


CR INVESTMENT: Members Receive Wind-Up Report
---------------------------------------------
The members of CR Investment Co Ltd received on May 28, 2013, the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

          Gene Dacosta
          c/o Noel Webb
          Telephone: (345) 814 7394
          Facsimile: (345) 945 3902
          P.O. Box 2681 Grand Cayman KY1-1111
          Cayman Islands


CRESSON LIMITED: Shareholders' Final Meeting Set for June 18
------------------------------------------------------------
The shareholders of Cresson Limited will hold their final meeting
on June 18, 2013, at 1:30 p.m. to receive the liquidator's report
on the company's wind-up proceedings and property disposal.

The company's liquidator is:

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


FLEETPRIDE EQUITY: Shareholders' Final Meeting Set for June 18
--------------------------------------------------------------
The shareholders of Fleetpride Equity Limited will hold their
final meeting on June 18, 2013, at 12:00 noon to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


FLEETPRIDE IIP: Shareholders' Final Meeting Set for June 18
-----------------------------------------------------------
The shareholders of Fleetpride IIP Limited will hold their final
meeting on June 18, 2013, at 11:45 a.m. to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


FLEETPRIDE INVESTMENTS: Shareholders' Meeting Set for June 18
-------------------------------------------------------------
The shareholders of Fleetpride Investments Limited will hold their
final meeting on June 18, 2013, at 11:00 a.m. to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


FPC EQUITY: Shareholders' Final Meeting Set for June 18
-------------------------------------------------------
The shareholders of FPC Equity Limited will hold their final
meeting on June 18, 2013, at 10:30 a.m. to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


FPC HOLDINGS T3: Shareholders' Final Meeting Set for June 18
------------------------------------------------------------
The shareholders of FPC Holdings T3 Limited will hold their final
meeting on June 18, 2013, at 12:15 p.m. to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


FPC HOLDINGS T4: Shareholders' Final Meeting Set for June 18
------------------------------------------------------------
The shareholders of FPC Holdings T4 Limited will hold their final
meeting on June 18, 2013, at 1:00 p.m. to receive the liquidator's
report on the company's wind-up proceedings and property disposal.

The company's liquidator is:

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


FPC HOLDINGS T5: Shareholders' Final Meeting Set for June 18
------------------------------------------------------------
The shareholders of FPC Holdings T5 Limited will hold their final
meeting on June 18, 2013, at 12:30 p.m. to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


FPC HOLDINGS T10: Shareholders' Final Meeting Set for June 18
-------------------------------------------------------------
The shareholders of FPC Holdings T10 Limited will hold their final
meeting on June 18, 2013, at 12:45 p.m. to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


FPC INVESTMENTS: Shareholders' Final Meeting Set for June 18
------------------------------------------------------------
The shareholders of FPC Investments Limited will hold their final
meeting on June 18, 2013, at 10:45 a.m. to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


FULSHEAR LIMITED: Shareholders' Final Meeting Set for June 18
-------------------------------------------------------------
The shareholders of Fulshear Limited will hold their final meeting
on June 18, 2013, at 1:45 p.m. to receive the liquidator's report
on the company's wind-up proceedings and property disposal.

The company's liquidator is:

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


GPF FLEETPRIDE: Shareholders' Final Meeting Set for June 18
-----------------------------------------------------------
The shareholders of GPF Fleetpride Holdings Limited will hold
their final meeting on June 18, 2013, at 10:15 a.m. to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


INVESTCORP FLEETPRIDE: Shareholders' Final Meeting Set for June 18
------------------------------------------------------------------
The shareholders of Investcorp Fleetpride Investing Limited will
hold their final meeting on June 18, 2013, at 2:15 p.m. to receive
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


INVESTCORP FLEETPRIDE T4: Shareholders' Meeting Set for June 18
---------------------------------------------------------------
The shareholders of Investcorp Fleetpride Investing T4 Limited
will hold their final meeting on June 18, 2013, at 2:30 p.m. to
receive the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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


INVESTCORP ISLAMIC: Shareholders' Final Meeting Set for June 18
---------------------------------------------------------------
The shareholders of Investcorp Fleetpride Islamic Financing
Limited will hold their final meeting on June 18, 2013, at
11:30 a.m. to receive the liquidator's report on the company's
wind-up proceedings and property disposal.

The company's liquidator is:

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


INVESTCORP ISLAMIC T4: Shareholders' Meeting Set for June 18
------------------------------------------------------------
The shareholders of Investcorp Fleetpride Islamic Financing T4
Limited will hold their final meeting on June 18, 2013, at
11:15 a.m. to receive the liquidator's report on the company's
wind-up proceedings and property disposal.

The company's liquidator is:

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


PECOS LIMITED: Shareholders' Final Meeting Set for June 18
----------------------------------------------------------
The shareholders of Pecos Limited will hold their final meeting on
June 18, 2013, at 2:00 p.m. to receive the liquidator's report on
the company's wind-up proceedings and property disposal.

The company's liquidator is:

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


TRAILER EQUITY: Shareholders' Final Meeting Set for June 18
-----------------------------------------------------------
The shareholders of Trailer Equity Limited will hold their final
meeting on June 18, 2013, at 10:00 a.m. to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

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


                            ***********


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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