TCRLA_Public/130530.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 30, 2013, Vol. 14, No. 106


                            Headlines



A R G E N T I N A

GALICIA ADMINISTRADORA: Moody's Assigns (P)B-bf Bond Fund Rating
YPF SA: Loses International Ruling in Arbitration Case


B A H A M A S

ULTRAPETROL LTD: Moody's Rates New $200MM Mortgage Notes '(P)B3'


B E R M U D A

MAIDEN HOLDINGS: A.M. Best Affirms 'bb' Rating on Preferred Stock


B R A Z I L

RB CAPITAL: Moody's Rates 80th Series Real Estate Certs. 'Ba2'


C A Y M A N  I S L A N D S

ALPHADYNE GLOBAL: Shareholders' Final Meeting Set for June 13
ALTIMA ONE: Shareholder to Hear Wind-Up Report on June 10
APHEX CAPITAL: Shareholder to Hear Wind-Up Report on June 7
ARCATA UNIVERSAL: Shareholders' Final Meeting Set for June 3
BROADREACH MEZZANINE: Shareholders' Final Meeting Set for July 8

COASTAL PROPERTIES: Members' Final Meeting Set for May 31
COHANZICK CREDIT: Shareholders Receive Wind-Up Report
EAST STAR: Shareholders Receive Wind-Up Report
FLEETPRIDE HOLDING: Shareholders' Final Meeting Set for June 18
GEOVERA INSURANCE: Shareholder to Hear Wind-Up Report on June 4

MET EUROPA: Shareholders' Final Meeting Set for June 6
PACIFIC HAWAII: Shareholders' Final Meeting Set for June 6
PACIFIC NEVADA: Shareholders' Final Meeting Set for June 6
PACIFIC WEST VIRGINIA: Shareholders' Final Meeting Set for June 6
PROFESSIONAL LIABILITY: Member to Hear Wind-Up Report on June 6

SAJABE INC: Shareholders' Final Meeting Set for May 31
TAPESTRY FLAGSHIP: Shareholder to Hear Wind-Up Report on June 7
TAPESTRY MASTER: Shareholder to Hear Wind-Up Report on June 7
ZEGAT INC: Shareholders' Final Meeting Set for May 31


D O M I N I C A N   R E P U B L I C

* DOMINICAN REPUBLIC: Central Bank Prime Rate falls to 4.25%


J A M A I C A

DIGICEL GROUP: Hires O'Brien's Company to Oversee Cell Sites
UC RUSAL: Former Board Chairman Resigns Amid Police Probe


M E X I C O

SU CASITA: Moody's Confirms B3 Global Scale Rating
* Moody's Lifts Tlalnepantla's Global Scale Issuer Rating to Ba2
* Moody's Lifts Ratings on MBIA-Guaranteed Mexican RMBS Tranches


V E N E Z U E L A

PETROLEOS DE VENEZUELA: Signs US$2BB Loan Deal With Chevron


X X X X X X X X

* Upcoming Meetings, Conferences and Seminars


                            - - - - -


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


GALICIA ADMINISTRADORA: Moody's Assigns (P)B-bf Bond Fund Rating
----------------------------------------------------------------
Moody's assigned a provisional bond fund rating of (P)B-bf/A-bf.ar
to Fima FCI Abierto Pymes, a fund managed by Galicia
Administradora de Fondos SASGFCI. The rating, expressed on a
global and national scale, reflects Moody's expectation that the
fund will maintain a weighted average credit quality consistent
with their levels given the fund's investment parameters and its
expected asset allocation. The fund is expected be launched within
the next two weeks.

Ratings Rationale:

The bond fund rating for Fima FCI PyMe is based on Moody's
expectations that the fund will hold a minimum of 75% of its
portfolio in securities issued by SME's as the listed checks
issued by local SME's and guaranteed by local financial guarantors
(SGR), the majority of them rated B2/B3 by Moody's. The balance of
the portfolio is expected to be exposed to, Corporate Notes and
Asset-Backed securities, all issued by Argentinean SMEs.

"In Fima Abierto Pyme the key investors will be local insurance
companies, which are obligated by local regulation to invest a
portion of their assets in Argentinean SME's," commented Moody's
Assistant Vice President-Analyst, Carlos de Nevares.

Galicia Administradora de Fondos SASGFI is among the largest Asset
manager in the Argentinean Mutual Fund Industry being a subsidiary
of Banco Galicia, one of the leading private bank in Argentina. As
of April 2013, Galicia SASGFCI S.A, among the eldest fund advisor
in the local market, had approximately AR$4,558.5 million in
Assets under Management (AUM) or approximately $861. millions
occupying the third position with a 7.7 % of market share in AUM
terms.

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
".ar" for co.


YPF SA: Loses International Ruling in Arbitration Case
------------------------------------------------------
Taos Turner at Dow Jones Newswire reports that YPF SA has lost an
international arbitration case involving claims that YPF broke its
contractual obligations after Argentina largely stopped exporting
natural gas to neighboring countries because of domestic supply
problems.

The Paris-based International Court of Arbitration found YPF
responsible for rescinding its gas-export contracts in 2009 with
the Brazilian energy company AES Uruguaiana Empreendimentos SA
(AESU) and Argentina's Transportadora de Gas del Mercosur, or TGM,
YPF said in a stock-market filing, according to Dow Jones
Newswire.

"YPF is studying the fundamentals of the arbitration ruling and it
will energetically defend the interests of its shareholders," the
company said in the statement obtained by Dow Jones Newswire.

Possible damages could be determined in a separate ruling by the
same tribunal, YPF said, the report notes.

Another company, Brazil's Companhia de Gas do Estado do Rio Grande
do Sul, or Sulgas, which had also filed a claim against YPF,
wasn't mentioned in the statement.

In 2009, Dow Jones Newswire recalls, YPF was notified of claims by
AESU and Sulgas for damages totaling $1 billion.

Meanwhile, TGM filed claims for $17 million in damages and $366
million in lost profit, according to an annual document that YPF
sent to the U.S. Securities and Exchange Commission earlier this
year, the report says.

"YPF denies all liability arising from" the termination of its
natural gas shipments, YPF told the SEC, the report notes.

The report relates that YPF also said that AESU's damages estimate
"is far beyond any reasonable assessment" and that AESU had
"voluntarily" ended its "long term power purchase contracts"
before YPF stopped exporting natural gas.

Whatever the eventual outcome of the arbitration, the ruling seems
unwelcome for YPF, which has been struggling to get international
funding for its ambitious plan to develop shale oil and shale gas
in the resource-rich province of Neuquen, the report notes.

The legal challenges come in addition to a bid by the Spanish
energy company Repsol SA to prevent YPF from signing new
investment deals before Argentina's government has compensated
Repsol for expropriating its majority stake in YPF last year, the
report recalls.  So far, Argentina has made no public offer to pay
the Spaniards for their stake in YPF, the report notes.

Repsol is demanding $10.5 billion in compensation for the
takeover, says the report.

The report discloses that the arbitration claims against YPF stem
from the Argentine government's decision in 2004 to force energy
companies to supply natural gas to the domestic market regardless
of their export contracts.  The report relates that caused gas
exporters to fully or partially suspend gas shipments to foreign
customers.

At the time, Argentina was struggling to supply its people and
industry with locally produced natural gas due to surging demand
as a result of rapid economic growth and a freeze on utility
rates, the report relays.

YPF has argued force majeure in the arbitration case, saying it
was the government, not the company, which was responsible for
stopping gas deliveries, the report discloses.

YPF said years ago that it had appealed the government's export
limits in court, but that it had obeyed them nonetheless to avoid
"the revocation of our export permits or other penalties," the
report adds.

                         About YPF SA

Headquartered in Buenos Aires, Argentina, YPF S.A. is an
integrated oil and gas company engaged in the exploration,
development and production of oil and gas, natural gas and
electricity-generation activities (upstream), the refining,
marketing, transportation and distribution of oil and a range of
petroleum products, petroleum derivatives, petrochemicals and
liquid petroleum gas (downstream).  The company is a subsidiary
of Repsol YPF, S.A., a Spanish company engaged in oil exploration
and refining, which holds 99.04% of its shares.  Its international
operations are conducted through its subsidiaries, YPF
International S.A. and YPF Holdings Inc.

                       *     *     *

As reported in the Troubled Company Reporter-Latin America on
Jan. 6, 2012, Dow Jones' DBR Small Cap reports that Argentina's
largest oil and gas producer, YPF SA, said it won't exercise an
option to lift its stake in the parent company of natural gas
distribution firm Metrogas SA after failing to reach an agreement
with creditors.

As of March 20, 2012, the company continues to carry Fitch
Rating's "B+" long-term foreign currency default rating and "BB"
long-term local currency issuer default rating.


=============
B A H A M A S
=============


ULTRAPETROL LTD: Moody's Rates New $200MM Mortgage Notes '(P)B3'
----------------------------------------------------------------
Moody's Investors Service assigned a provisional (P)B3 rating to
Ultrapetrol (Bahamas) Limited's proposed $200 million senior
secured ship mortgage notes.

The assigned rating is subject to the receipt and review of final
documentation and closing of a proposed refinancing transaction.
At the same time, Moody's placed Ultrapetrol's Caa1 corporate
family rating on review for possible upgrade, and affirmed the
Caa1 rating on its existing ship mortgage notes due 2014. The
company's SGL-3 speculative grade liquidity rating was unchanged,
and will be revisited upon completion of the proposed refinancing
transaction.

Proceeds from the proposed notes offering will be used to repay
the company's existing $180 million ship mortgage notes due
November 2014, add over $10 million of cash to the balance sheet
and pay fees and expenses related to the transaction. The proposed
notes will be secured by first priority ship mortgages on certain
barges and vessels of Ultrapetrol. In addition, the company
recently put in place a $40 million senior secured reducing
revolving credit facility (unrated by Moody's) maturing in June
2016.

Ratings assigned:

$200 million senior secured ship mortgage notes due 2021, at (P)B3

Ratings placed on review for possible upgrade:

Corporate family rating, at Caa1;

Ratings affirmed:

$180 million 9% First Preferred Ship Mortgage Notes due 2014, at
Caa1*;

Ratings unchanged:

Speculative grade liquidity rating, at SGL-3

* The rating on the existing ship mortgage notes would be
withdrawn upon repayment of the notes at close of the proposed
transaction.

Ratings Rationale:

The review for possible upgrade was triggered by Ultrapetrol's
announcement that it will issue the $200 million notes to
refinance its existing notes maturing November 24, 2014. The
transaction would improve the company's liquidity position by
extending its maturity profile by several years to 2021. The
review is also consistent with Moody's view that Ultrapetrol's
operating performance and metrics will likely continue to improve,
as evidenced by the company's meaningfully improved first quarter
2013 financial results.

A confluence of factors including recovery of the soybean crop in
2013 from the severe 2012 drought in the Hidrovia region of South
America, a full year of operations from some of the company's
platform supply vessels in its offshore segment (used in oil-
related activities for Brazilian-based Petrobras) and the increase
in the sale of barges that favorably contribute to the company's
EBITDA generation have also been considered in putting the ratings
under review for upgrade. However, the closing of the proposed
transaction, in order to address the upcoming maturity of the
existing notes, is the primary factor upon which the ratings have
been put under review.

Pro forma for the proposed transaction, the company's liquidity
profile will likely be improved by extending the company's debt
maturity profile and augmenting cash on the balance sheet that has
already benefited from the equity infusion by Sparrow Capital late
last year. Nonetheless, pro forma for the proposed transaction,
total debt is expected to increase by approximately $20 million
due to the larger size of the proposed issuance versus the
existing notes and interest expense is expected to stay relatively
unchanged as interest savings achieved through a lower coupon are
partially offset by higher debt levels. However, the marked EBITDA
improvement expected in 2013 is anticipated to more than offset
the moderate increase in debt. Credit metrics over the next
eighteen months, based on an improvement in EBITDA level, are
expected to result in debt/EBITDA falling below 6.0 times and
EBIT/interest at approximately 1.0 times, on a Moody's adjusted
basis.

The review for possible upgrade will focus on the company's
ability to successfully complete the refinancing. Should the
transaction close as proposed, Moody's could raise the company's
CFR to B3 (from Caa1) with a stable outlook.

The ratings could be confirmed at Caa1 with a negative outlook if
the company does not close on the proposed refinancing that
addresses the 2014 notes maturity. The ratings could be downgraded
if the company does not address its 2014 notes maturity, its
liquidity profile were to materially weaken including meaningfully
lower cash balances or there is an increased likelihood that the
company would buy back any of its remaining debt at substantially
lower than face value.

The ratings could be upgraded if the proposed transaction closes,
thereby addressing its existing senior secured notes November 2014
maturity.

The principal methodology used in this rating was Global Shipping
Industry published in December 2009.

Ultrapetrol (Bahamas) Limited, headquartered in Nassau, Bahamas,
is a diverse international marine transportation company. The
company operates in three segments: River, Offshore Supply, and
Ocean. Last twelve months ended March 31, 2013 revenues totaled
$327 million.


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


MAIDEN HOLDINGS: A.M. Best Affirms 'bb' Rating on Preferred Stock
-----------------------------------------------------------------
A.M. Best Co. has affirmed the financial strength rating (FSR) of
A- (Excellent) and issuer credit ratings (ICR) of "a-" of the
property/casualty subsidiaries of Maiden Holdings, Ltd. (Maiden
Holdings) (Hamilton, Bermuda) [NASDAQ: MHLD], also known as Maiden
Group (Maiden).  Concurrently, A.M. Best has affirmed the ICR of
"bbb-" of Maiden Holdings and the debt rating of "bb" on its
preferred stock.  Additionally, A.M. Best has affirmed the ICR and
senior debt ratings of "bbb-" of Maiden Holdings North America,
Ltd. (Maiden NA) (Delaware), a direct, wholly owned subsidiary of
Maiden Holdings.  Maiden NA's senior notes are fully and
unconditionally guaranteed by Maiden Holdings.  The outlook for
all ratings is stable. (See below for a detailed listing of
companies and ratings.)

The ratings reflect Maiden's consistently profitable underwriting
and operating performance, along with its solid risk-adjusted
capitalization, in part due to capital contributions from Maiden
Holdings, and the operational benefits that Maiden derives as a
quota share partner with AmTrust Financial Services, Inc.'s (AFSI)
Bermuda reinsurance subsidiary, AmTrust International Insurance,
Ltd., (AII) and American Capital Acquisition Corp (ACAC).

Partially offsetting these positive rating factors are the
execution risk faced by Maiden in achieving its business plans,
the continuing competitive environment in its core reinsurance
markets and its client concentration, as AFSI and ACAC account for
approximately 60% of the group's total gross premiums.

Maiden Holdings' adjusted debt-to-total capital, excluding
accumulated other comprehensive income of 24.7% and adjusted debt-
to-total tangible capital, excluding accumulated other
comprehensive income of 26.8% at December 31, 2012 were within
A.M. Best's guidelines for the company's ratings.  In addition,
Maiden Holdings' interest coverage ratio remains adequate for its
ratings.

Key rating factors that may lead to positive rating actions
include the organization producing operating results that exceed
its peers for an extended period, along with the strengthening of
its risk-adjusted capitalization.  However, factors that may lead
to negative rating actions include a trend of increasingly
deteriorating underwriting and operating performance to a level
below the group's peers or an erosion of surplus to such an extent
to cause a significant decline in risk-adjusted capitalization.

The FSR of A- (Excellent) and ICRs of "a-" have been affirmed for
the following property/casualty subsidiaries of Maiden Holdings,
Ltd.:

- Maiden Insurance Company Ltd.
- Maiden Reinsurance Company
- Maiden Specialty Insurance Company

The following debt ratings have been affirmed:

Maiden Holdings, Ltd.-
-- "bb" on $150 million 8.25% preferred stock

Maiden Holdings North America, Ltd. (guaranteed by Maiden
Holdings, Ltd.)?
-- "bbb-" on $100 million 8.0% senior unsecured notes, due 2042
-- "bbb-" on $107 million 8.25% senior unsecured notes, due 2041

The following indicative ratings have been affirmed for securities
under the shelf registration:

Maiden Holdings North America, Ltd. (guaranteed by Maiden
Holdings, Ltd.)-
-- "bbb-" on senior unsecured debt
-- "bb+" on subordinated debt
-- "bb" on junior subordinated debt
-- "bb" on preferred stock


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


RB CAPITAL: Moody's Rates 80th Series Real Estate Certs. 'Ba2'
--------------------------------------------------------------
Moody's America Latina assigned definitive ratings of Ba2 (Global
Scale, Local Currency) and Aa3.br (National Scale) to the 80th
Series of real estate certificates (CRIs or certificates) issued
by RB Capital Companhia de Securitizacao S.A. (RB Capital, the
Issuer or the Securitizadora).

Issuer: RB Capital Companhia de Securitizacao S.A.

80th Series / 1st Issuance: BRL 56,200,322.64 of certificates
rated Aa3.br / Ba2

Ratings Rationale:

The ratings of the certificates are based, among others, on the
following factors:

Suzano Papel e Celulose S.A. (Suzano) as Debtor of Real Estate
Credits: Suzano (rated Ba2/Aa3.br on a senior unsecured basis) is
ultimately liable for the timely payment of the Real Estate
Credits which back the certificates. Also, Suzano undertakes not
to take any action that may impact negatively the Real Estate
Credits, such as renegotiation of payments or voidance of
contract.

Construction risk is fully mitigated: Suzano is obligated to make
timely payment under the Real Estate Credits, irrespective of
whether the residential units are constructed. A failure of the
project would not impact the obligations of Suzano under the
Purchase and Sale Agreement giving rise to the Real Estate
Credits.

Force Majeure Events risk mitigated: The payment obligations of
Suzano remain unchanged in respect to the original amortization
schedule set forth in the Purchase and Sale Agreement irrespective
of Force Majeure events.

Fiduciary Regime: The CRIs benefit from the fiduciary regime
(regime fiduciario) over the segregated assets linked to the
issuance of the CRIs. The segregated assets are destined
exclusively to the repayment of the CRIs. The segregated assets do
not commingle with the balance sheet of the Issuer. However,
Moody's notes that there is a residual legal risk that the real
estate credits can be affected by tax, labor and pension creditors
of the securitization company, RB Capital, not rated by Moody's.

The CRIs are backed by Real Estate Credit Rights represented by
underlying cedulas de credito imobiliario (CCIs) that do not
benefit from a real estate pledge and derived from a Purchase and
Sale Agreement of residential units. The proceeds from CRIs
issuance will be used to finance the construction of the
residential units to be acquired by Suzano Papel e Celulose S.A.,
and which were pledged via a fiduciary assignment (alienacao
fiduciaria) for the benefit of RB Capital or the Securitizadora.
The Securitizadora then links to the CRIs the rights related to
the residential units pledge agreement.

The Ba2/Aa3.br ratings assigned to the CRIs are based on the
willingness and ability of Suzano to honor the payments defined in
transaction documents, and which reflect the senior unsecured
ratings of Ba2 (Global Scale, Local Currency) and Aa3.br (National
Scale) of Suzano. The transaction stipulates that the CRI's
payments follow the Real Estate Credit Rights payments schedule as
defined in the Purchase and Sale Agreement and the CCI Indenture.
Moody's did not give any credit to the residential units pledge.
Any future change in the senior unsecured rating of Suzano will
lead to a change in the ratings of the CRIs.

The provisional ratings assigned to the CRIs on December 27, 2012
address the structure and characteristics of the transaction based
on the information provided to Moody's as of December 27, 2012. In
reviewing the final transaction documents against the documents
analyzed to assign the provisional ratings, Moody's observed
amendments to two documents: the CCI Issuance Agreement
("Instrumento Particular de Emissao de Cedulas de Cedulas de
Credito Imobiliarios com Garantia Real Imobiliaria Sob a Forma
Escritural") and the CRI Indenture ("Termo de Securitizacao de
Creditos Imobiliarios"). Moody's notes that these amendments, in
and of themselves, do not impact the definitive ratings assigned
to the CRIs, as the assigned ratings are fully linked to Suzano's
senior unsecured ratings as Moody's has not given any credit to
the residential units pledge in assigning the ratings. According
to the amendments, the CCI Issuance Agreement no longer benefits
from the real estate pledge and is consequently renamed as
"Instrumento Particular de Emissao de Cedulas de Credito
Imobiliarios sem Garantia Real Imobiliaria Sob a Forma
Escritural". The CRI indenture then links the Real Estate Credits
and the residential units pledged to RB Capital Securitizadora to
the CRIs.

The key steps in the transaction are:

1. Suzano (Promissory Buyer under Purchase and Sale Agreement and
Payer of Real Estate Credits), Dimensao Engenharia (Promissory
Seller under Purchase and Sale Agreement and Seller of Real Estate
Credits) and RB Capital (Securitizadora) enter into a Purchase and
Sale Agreement with Sale of Real Estate Credits and the Fiduciary
Assignment Agreement of the Residential Units.

1.a. Dimensao Engenharia (Dimensao) is the legitimate owner of the
land situated in Imperatriz, State of Maranhao, on which it will
undertake the construction of 258 residential units, being the
sole responsible party of the performance of construction under
contractual specifications. Dimensao promises to sell (as
Promissory Seller) the residential units to Suzano, which promises
to purchase (Promissory Buyer) 220 residential units.

1.b. In guarantee to the obligations of Suzano under the Purchase
and Sale Agreement, Dimensao receives the fiduciary assignment
(alienacao fiduciaria) over 220 residential units.

1.c. Dimensao sells the Real Estate Credits to the Issuer pursuant
to the Purchase and Sale Agreement, including any other credit
rights owed by Suzano foreseen by the contracts, such as inflation
adjustments, fees and expenses, insurance payments and others. The
sale is made with view of raising proceeds to finance the real
estate development of the residential units; the residential units
are object of real estate pledges (alienacao fiduciaria),
constituted by Dimensao in favor of the Securitizadora and with
acknowledgement of Suzano.

2. The Securitizadora issues CCIs without real estate pledges,
which, together, represent the totality of the Real Estate
Credits.

3. The Securitizadora issues the 80th Series of the 1st Issuance
of real estate certificates (CRIs) and link the CRIs to the Real
Estate Credits, represented by the CCI without real estate
pledges, and to the rights related to the residential units pledge
agreement (contrato de alienacao fiduciaria). The CRIs benefit
from a fiduciary regime (it does not commingle with the assets of
the Securitizadora).

4. The investors purchase the CRIs.

5. The Securitizadora pays the purchase price to Dimensao.

6. Suzano makes payments of the Real Estate Credits directly to
the segregated account managed by the Securitizadora.

The certificates have an initial tenor of 144 months from issuance
and will pay 11 annual principal and interest payments after a 24-
month grace period (maturity date is December 19, 2024). The
interest rate will be IPCA plus a fixed interest rate of 4.3392%
p.a..

Suzano Papel e Celulose, headquartered in Salvador - Brazil, is a
leading low-cost producer of bleached eucalyptus market pulp,
printing and writing paper and paperboard having reported
consolidated net revenues of BRL 4.9 billion (about $ 2.6 billion)
in the last twelve months ended on June 30, 2012. The sales volume
mix (55% pulp and 45% paper) gives the company cash flow stability
due to the different supply-demand and pricing dynamics.

The Ba2/Aa3.br ratings consider Suzano's position as a low cost
producer of bleached eucalyptus kraft pulp (BEKP) and paper, with
competitive market positions in the global BEKP market and
Brazilian printing and writing paper and paperboard sectors. The
company benefits from a high level of vertical integration, in
addition to the proximity of its pulp mills to its own forests and
port facilities as well as the favorable location of its paper
plants within Brazil's most industrialized region. As a result,
the company has reported relatively strong operating margins even
during the industry's downturns. Recent deteriorating credit
metrics result from weaker operational performance due to
weakening global economic conditions at a time the company has
embarked into a major expansion project that will add 1.5 million
tons of new pulp capacity.


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


ALPHADYNE GLOBAL: Shareholders' Final Meeting Set for June 13
-------------------------------------------------------------
The shareholders of Alphadyne Global Rates Fund, Ltd will hold
their final meeting on June 13, 2013, at 9:00 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

          Ian D. Stokoe
          c/o Sarah Moxam
          Telephone: (345) 914 8634
          Facsimile: (345) 945 4237
          PO Box 258 Grand Cayman KY1-1104
          Cayman Islands


ALTIMA ONE: Shareholder to Hear Wind-Up Report on June 10
---------------------------------------------------------
The shareholder of Altima One World Agriculture Development Fund
Limited will receive on June 10, 2013, at 10:00 a.m., the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

          David Sargison
          31 Woodland Drive, Lower Valley
          Grand Cayman KY1-1102
          Cayman Islands
          Telephone: +1 (345) 946 7274


APHEX CAPITAL: Shareholder to Hear Wind-Up Report on June 7
-----------------------------------------------------------
The shareholder of Aphex Capital NSCR 2006-2, Ltd will receive on
June 7, 2013, at 9:15 a.m., the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

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


ARCATA UNIVERSAL: Shareholders' Final Meeting Set for June 3
------------------------------------------------------------
The shareholders of Arcata Universal Limited will hold their final
meeting on June 3, 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:

          Jianli Hu
          No 7 Building Lane 188
          Jinglian Road
          Minghang District
          Shanghai PRC
          Telephone: +86 (574) 5899 9888
          Fax: +86 (574) 5899 9800


BROADREACH MEZZANINE: Shareholders' Final Meeting Set for July 8
----------------------------------------------------------------
The shareholders of Broadreach Mezzanine Funding Limited will hold
their final meeting on July 8, 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
          PO Box 1111 Grand Cayman KY1-1102
          Cayman Islands


COASTAL PROPERTIES: Members' Final Meeting Set for May 31
---------------------------------------------------------
The members of Coastal Properties Insurance Company SPC will hold
their final meeting on May 31, 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:

          Kyle Broadhurst
          c/o Broadhurst LLC
          P.O. Box 2503
          40 Linwood Street
          Grand Cayman KY1-1104
          Cayman Islands
          Telephone: (345) 949 7237
          Facsimile: (345) 949 7725


COHANZICK CREDIT: Shareholders Receive Wind-Up Report
-----------------------------------------------------
The shareholders of Cohanzick Credit Opportunities Master Fund,
Ltd received on May 29, 2013, the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

          David K. Sherman
          427 Bedford Road
          Suite 230 Pleasantville
          New York 10570
          United States of America


EAST STAR: Shareholders Receive Wind-Up Report
----------------------------------------------
The shareholders of East Star Trading Company 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:

           Mahfouz Ali Mohamed Saeed
           c/o Maples and Calder, Attorneys-at-law
           PO Box 309, Ugland House
           Grand Cayman KY1-1104
           Cayman Islands


FLEETPRIDE HOLDING: Shareholders' Final Meeting Set for June 18
---------------------------------------------------------------
The shareholders of Fleetpride Holding Limited will hold their
final meeting on June 18, 2013, at 2:45 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


GEOVERA INSURANCE: Shareholder to Hear Wind-Up Report on June 4
---------------------------------------------------------------
The shareholder of Geovera Insurance Group Holdings, Ltd. will
receive on June 4, 2013, at 11:00 a.m., the liquidator's report on
the company's wind-up proceedings and property disposal.

The company's liquidator is:

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


MET EUROPA: Shareholders' Final Meeting Set for June 6
------------------------------------------------------
The shareholders of Met Europa Fund Limited will hold their final
meeting on June 6, 2013, at 4:00 p.m., to receive the liquidator's
report on the company's wind-up proceedings and property disposal.

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


PACIFIC HAWAII: Shareholders' Final Meeting Set for June 6
----------------------------------------------------------
The shareholders of Pacific Links Company Hawaii will hold their
final meeting on June 6, 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:

          Wardour Management Services Limited
          c/o Rich Yehling
          Telephone: (345) 945 3301
          Facsimile: (345) 945 3302
          P.O. Box 10147, Grand Cayman KY1-1002
          Cayman Islands


PACIFIC NEVADA: Shareholders' Final Meeting Set for June 6
----------------------------------------------------------
The shareholders of Pacific Links Company Nevada will hold their
final meeting on June 6, 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:

          Wardour Management Services Limited
          c/o Rich Yehling
          Telephone: (345) 945 3301
          Facsimile: (345) 945 3302
          P.O. Box 10147, Grand Cayman KY1-1002
          Cayman Islands


PACIFIC WEST VIRGINIA: Shareholders' Final Meeting Set for June 6
-----------------------------------------------------------------
The shareholders of Pacific Links Company West Virginia will hold
their final meeting on June 6, 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:

          Wardour Management Services Limited
          c/o Rich Yehling
          Telephone: (345) 945 3301
          Facsimile: (345) 945 3302
          P.O. Box 10147, Grand Cayman KY1-1002
          Cayman Islands


PROFESSIONAL LIABILITY: Member to Hear Wind-Up Report on June 6
---------------------------------------------------------------
The member of Professional Liability Underwriting Services SPC,
Ltd. will receive on June 6, 2013, at 10:00 a.m., the liquidator's
report on the company's wind-up proceedings and property disposal.

The company's liquidator is:

          Britni Strong
          c/o Marsh Management Services Cayman Ltd.
          P.O. Box 1051 G.T. Governors Square
          23 Lime Tree Bay Avenue
          George Town Grand Cayman
          Cayman Islands


SAJABE INC: Shareholders' Final Meeting Set for May 31
------------------------------------------------------
The shareholders of Sajabe, Inc. will hold their final meeting on
May 31, 2013, to receive the liquidator's report on the company's
wind-up proceedings and property disposal.

The company's liquidator is:

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


TAPESTRY FLAGSHIP: Shareholder to Hear Wind-Up Report on June 7
---------------------------------------------------------------
The shareholder of Tapestry Flagship Futures Ltd. will receive on
June 7, 2013, at 8:45 a.m., the liquidator's report on the
company's wind-up proceedings and property disposal.

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) 943 3100


TAPESTRY MASTER: Shareholder to Hear Wind-Up Report on June 7
-------------------------------------------------------------
The shareholder of Tapestry Flagship Futures Master Ltd. will
receive on June 7, 2013, at 9:00 a.m., the liquidator's report on
the company's wind-up proceedings and property disposal.

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) 943 3100


ZEGAT INC: Shareholders' Final Meeting Set for May 31
-----------------------------------------------------
The shareholders of Zegat, Inc. will hold their final meeting on
May 31, 2013, to receive the liquidator's report on the company's
wind-up proceedings and property disposal.

The company's liquidator is:

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


===================================
D O M I N I C A N   R E P U B L I C
===================================


* DOMINICAN REPUBLIC: Central Bank Prime Rate falls to 4.25%
------------------------------------------------------------
Dominican Today reports that the Central Bank cut its Monetary
Policy (TPM) rate from 5% to 4.25%, or 75 base points, the first
reduction since August 2012.

The announcement forms part of the Monetary Board's (JM) measures
aimed at expanding liquidity in recent weeks, based on weak local
demand but amid an economy not pressured by inflation, according
to Dominican Today.

The report relates that on the decision to lower the TPM, the
Board also cited a local output below potential, and U.S.,
Eurozone and Latin America growth forecasts, all revised downwards
in May.

"This would indicate further weakness in the global economy and a
decline in external inflationary pressures," the Board said,
adding that exports will jump on increase in mining exports, the
report notes.

It said imports of goods and services have been reduced, which led
to an improved balance of payments by yearend, the report
discloses.


=============
J A M A I C A
=============


DIGICEL GROUP: Hires O'Brien's Company to Oversee Cell Sites
------------------------------------------------------------
Jamaica Gleaner reports that Digicel Jamaica has partnered with
UK-based Sierra, which will provide engineering and cell-site
maintenance services for the local operations.

Digicel Jamaica is a subsidiary of Digicel Group.

Sierra is also owned by Digicel Group Founder and Chairman Denis
O'Brien.

"Sierra has developed a distinguished track record of service to a
variety of utility companies, and that is the kind of excellence
that Digicel stands for.  We are truly pleased to have the
technical support of Sierra as we forge a new path for service
delivery and technical capacity in our operations," the report
quoted Digicel Jamaica Chief Technical Officer Krishna Phillipps
as saying.

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

                           *     *     *

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


UC RUSAL: Former Board Chairman Resigns Amid Police Probe
---------------------------------------------------------
RJR News reports that a former Chairman of UC Rusal has resigned
from the Board of the Russian aluminium giant amid a police probe.

Reports emerged that Barry Cheung, who was also the chairman of
the Hong Kong Mercantile Exchange, has stepped down as a board
member of Rusal, which he chaired until last October, because he
is under police investigation, according to RJR News.

The report relates that Mr. Cheung stepped down from all his
public posts after being asked by the police to assist their probe
into his failed Hong Kong Mercantile Exchange.  Mr. Cheung has not
been arrested or charged with any offence, the report discloses.

RJR News discloses that sources said he decided to resign from all
public duties to minimize the possible effect on institutions,
including Rusal.

The report relays that Mr. Cheung was Rusal's chairman from March
through to October last year before resigning to join Hong Kong's
government.

Mr. Cheung has also resigned from Hong Kong's cabinet because of
the probe, RJR News adds.


UC Rusal has a stake in the Alpart and Kirkvine alumina refineries
in Jamaica

As reported in the Troubled Company Reporter-Latin America on
April 25, 2013, RJR News reported that UC Rusal said it's
financial losses for 2012 were bigger than initially reported.
The company has revised its net loss to US$337 million from the
US$55 million US dollar loss reported the previous month,
according to RJR News.   The report related that UC Rusal said the
adjustment was made after reviewing its share of profit from its
subsidiary Norilsk Nickel.  UC Rusal, the report added, said the
adjusted financial statements have been reviewed by its auditor.


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


SU CASITA: Moody's Confirms B3 Global Scale Rating
--------------------------------------------------
Moody's Investors Service has confirmed the rating of a cross
border Mexican residential mortgage backed securitization serviced
by Patrimonio, S.A. de C.V., SOFOM, E.N.R. This rating action
follows the recent upgrade of the ratings of the financial
guarantor MBIA Insurance Corporation (MBIA).

The rating action is as follows:

Issuer: The Bank of New York Mellon, S.A. Institucion de Banca
Multiple, acting solely as trustee.

Hipotecaria Su Casita - Cross-border, Class A Insured Residential
Mortgage Backed Floating Rate Notes, B3 (sf) rating (Global Scale,
Foreign Currency) confirmed; previously on Feb 22, 2013 B3 (sf)
(Global Scale, Foreign Currency) placed on review for possible
downgrade. The notes' underlying ratings (reflecting the notes'
intrinsic credit quality absent the financial guarantee that MBIA
provides) are B3 (sf) and are currently on review for possible
downgrade.

Ratings Rationale:

This action is solely driven by Moody's announcement on May 21,
2013 that it has upgraded the Insurance Financial Strength ratings
of MBIA Insurance Corporation (MBIA Corp.) to B3.

The Hipotecaria Su Casita Cross-border Class A Insured Residential
Mortgage Backed Floating Rate Notes benefit from a financial
guaranty insurance policy issued by MBIA Insurance Corp. that
covers timely interest payment and ultimate principal payment by
the legal final maturity date of the certificate.

The certificate's current ratings are consistent with Moody's
modified approach to rating structured finance securities wrapped
by financial guarantors at the higher of (1) the guarantor's
insurance financial strength rating and (2) the underlying
ratings, which reflect the intrinsic credit quality of the
certificates in the absence of the guarantee. In the case of
Hipotecaria Su Casita Cross-border Class A Insured Residential
Mortgage Backed Floating Rate Notes, since MBIA's financial
strength ratings are not on review for possible downgrade, the
certificate's ratings are in line with MBIA's current ratings.

As part of evaluating the current rating of the transaction,
Moody's also reviewed the certificate's underlying rating, which
is B3 (sf) (Global Scale, Foreign Currency) on review for possible
downgrade.

Regarding the variability of the ratings of the transaction, the
underlying rating would change to Ca (sf) from B3 (sf) if the
current severity assumption of 63% were to increase to 100%;
lifetime projected losses would increase to 56% from 35% of the
current pool balance.

With respect to the underlying ratings, the primary sources of
uncertainty are related to the macroeconomic environment, the
timing of recovery of the Mexican economy and labor market, and
the severity of loss assumption given the limited market data
related to historical recoveries for REOs.

Moody's considers servicer practices in its analysis; the
assessment of these practices informs some of the transaction's
assumptions.

The methodologies used in this rating were "Moody's Approach to
Rating Mexican RMBS" published in August 2012, and "Moody's
Approach to Monitoring Residential Mortgage-Backed Securitizations
in Mexico" published in August 2009.


* Moody's Lifts Tlalnepantla's Global Scale Issuer Rating to Ba2
----------------------------------------------------------------
Moody's de Mexico upgraded the issuer ratings of the Municipality
of Tlalnepantla to A2.mx from A3.mx (Mexico National Scale) and to
Ba2 from Ba3 (Global Scale, local currency). At the same time,
Moody's revised the outlook on Tlalnepantla's issuer ratings to
stable from positive.

Ratings Rationale:

The upgrade reflects the sustained improvement in the
municipality's gross operating balances, driven by growth in own-
source revenues in conjunction with contained growth in operating
expenditures.

Tlalnepantla's credit profile has been strengthened by the
recording of positive operating margins during the 2009 -- 2012
period that have generated financing for a portion of capital
projects, averaging 9% of operating revenues. This performance
reflects gains in own-source revenues and federal transfers in
conjunction with measures of cost rationalization during the last
four years.

As a result, Tlalnepantla's consolidated cash financing results
were positive in such period averaging 8.8% of total revenues.
Given these financial results, debt levels are remained stable and
with a declining trend, net direct and indirect debt represented
19.5% of operating revenues at the end of 2012. Nevertheless in
2013 Moody's expects the debt will increase near to 30% of
operating revenues, a moderate level.

The ratings also consider Tlalnepantla's net working capital
position, as a percentage of total expenditures close to a
balanced 0.3% despite facing an electoral year in 2012.

What Can Change The Rating Up/Down

The continued strengthening of operating margins and the recording
of consolidated financial results that lead the continued
improvement of liquidity levels could exert upward pressure on the
ratings. Conversely the deterioration in the financial performance
and deep depletion of the liquidity position of the municipality
could exert downward pressure on the ratings.

The principal methodologies used in this rating were Regional and
Local Governments published on 18-Jan-2013 and Mapping Moody's
National Scale Ratings to Global Scale Ratings published in 9-Oct-
2012.

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.


* Moody's Lifts Ratings on MBIA-Guaranteed Mexican RMBS Tranches
----------------------------------------------------------------
Moody's de Mexico has taken rating actions on three residential
mortgage backed securitizations serviced by Patrimonio, S.A. de
C.V., SOFOM, E.N.R. This rating action follows the recent upgrade
of the ratings of the financial guarantor MBIA Insurance
Corporation and MBIA Mexico.

The rating action is as follows:

Issuer: HSBC Mexico, S.A., Institucion de Banca Multiple, Grupo
Financiero HSBC, Division Fiduciaria, acting solely as trustee.

MXMACFW 07-3U Class A, ratings upgraded to B3 (sf) (Global Scale,
Local Currency) and B1.mx (sf) (Mexican National Scale) from Caa2
(sf) (Global Scale, Local Currency) and Caa2.mx (sf) (Mexican
National Scale). The certificates' underlying ratings (reflecting
the certificates' intrinsic credit quality absent the financial
guarantee that MBIA provides) are Caa3 (sf) and Caa3.mx (sf).

MXMACFW 07-5U Class A, ratings upgraded to B3 (sf) (Global Scale,
Local Currency) and B1.mx (sf) (Mexican National Scale) from Caa2
(sf) (Global Scale, Local Currency) and Caa2.mx (sf) (Mexican
National Scale). The certificates' underlying ratings (reflecting
the certificates' intrinsic credit quality absent the financial
guarantee that MBIA Mexico provides) are Ca (sf) and Ca.mx (sf).

BRHCCB 07-2U Class A-2, ratings upgraded to B3 (sf) (Global Scale,
Local Currency) and B1.mx (sf) (Mexican National Scale) from Caa2
(sf) (Global Scale, Local Currency) and Caa2.mx (sf) (Mexican
National Scale). The certificates' underlying ratings (reflecting
the certificates' intrinsic credit quality absent the financial
guarantee that MBIA Mexico provides) are Caa2 (sf) and Caa2.mx
(sf), and are currently on review for possible downgrade.

Ratings Rationale:

This action is solely driven by Moody's announcement on May 21,
2013 that it has upgraded the Insurance Financial Strength (IFS)
ratings of MBIA Insurance Corporation (MBIA Corp.) to B3, and of
MBIA Mexico to B3 and B1.mx.

MXMACFW 07-3U benefits from a financial guaranty insurance policy
issued by MBIA Insurance Corp., while MXMACFW 07-5U and BRHCCB 07-
2U benefit from a similar guaranty issued by MBIA Mexico, that
covers timely interest payment and ultimate principal payment by
the legal final maturity date of the certificates.

The certificates' current ratings are consistent with Moody's
modified approach to rating structured finance securities wrapped
by financial guarantors at the higher of (1) the guarantor's
insurance financial strength rating and (2) the underlying
ratings, which reflect the intrinsic credit quality of the
certificates in the absence of the guarantee. In the case of
MXMACFW 07-3U Class A, MXMACFW 07-5U Class A and BRHCCB 07-2U
Class A-2, since MBIA's financial strength ratings are higher than
the certificates' underlying ratings, the certificates' ratings
are in line with MBIA's current ratings.

As part of evaluating the current ratings of these transactions,
Moody's also reviewed the certificates' underlying ratings, which
are as follows:

MXMACFW07-3U Class A: Caa3.mx (sf), Caa3 (sf)

MXMACFW07-5U Class A: Ca.mx (sf), Ca (sf)

BRHCCB 07-2U Class A-2: Caa2.mx (sf), Caa2 (sf), on review for
possible downgrade

Regarding the variability of these transactions, any downgrade in
MBIA insurance financial strength rating from B3 would result in
at least a one notch downgrade in the ratings of the affected
certificate.

With respect to the underlying ratings, the primary sources of
uncertainty are related to the macroeconomic environment, the
timing of recovery of the Mexican economy and labor market, and
the severity of loss assumption given the limited market data
related to historical recoveries for REOs.

Moody's considers servicer practices in its analysis; the
assessment of these practices informs some of the transaction's
assumptions.


=================
V E N E Z U E L A
=================


PETROLEOS DE VENEZUELA: Signs US$2BB Loan Deal With Chevron
-----------------------------------------------------------
Jamaica Gleaner reports that Chevron Corp has agreed to lend US$2
billion to a joint venture with Petroleos de Venezuela in an
effort to boost production in an oil field in western Zulia state.

Venezuelan Oil Minister Rafael Ramirez signed the loan deal with
Ali Moshiri, Chevron's head in Latin America, according to Jamaica
Gleaner.

Venezuela's PVDSA oil company owns 60 percent of the joint
venture, Petroboscan, while Chevron has a 40 per cent stake.

Jamaica Gleaner notes that Mr. Ramirez says financing will help
boost production in the Boscan field from 107,000 barrels a day to
127,000 barrels.

Venezuela has the world's largest oil reserves but production has
been falling the past decade, the report notes.

The government has relied heavily on the country's oil income to
fund social programs, and reinvested relatively little of it to
exploit new fields and replace depleted ones, the report adds.

                              About PDVSA

Petroleos de Venezuela -- http://www.pdvsa.com/-- is Venezuela's
state oil company in charge of the development of the petroleum,
petrochemical, and coal industry, as well as planning,
coordinating, supervising, and controlling the operational
activities of its divisions, both in Venezuela and abroad.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on
April 24, 2013, Standard & Poor's Ratings Services revised its
outlook on Petroleos de Venezuela S.A. (PDVSA) to negative from
stable.  At the same time, S&P affirmed its 'B+' foreign and local
currency ratings on PDVSA.


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


* 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.


                   * * * End of Transmission * * *