TCRLA_Public/130620.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, June 20, 2013, Vol. 14, No. 121


                            Headlines



A R G E N T I N A

CUANTICO SRL: Proofs of Claim Verification Deadline on July 31
DIMENSION VERDE: Proofs of Claim Verification Deadline on July 12
MASTELLONE HERMANOS: S&P Lowers CCR to 'CCC'; Outlook Negative
PILISAR: Moody's Rates New ARS100.7MM Guaranteed Bank Loan 'B2'
PRESTAMED SA: Files for Reorganization Proceedings

SOFT PACK: Proofs of Claim Verification Deadline on July 11
VOSS SACI: Proofs of Claim Verification Deadline on June 26


C A Y M A N  I S L A N D S

3A WINDRIDER: Creditors' Proofs of Debt Due July 9
BURRATOR CAPITAL: Commences Liquidation Proceedings
CHAMP EXPLORER: Creditors' Proofs of Debt Due July 17
GREENHEART CAPITAL: Commences Liquidation Proceedings
JADE VIII: Creditors' Proofs of Debt Due July 9

MARATHON PORTFOLIO: Creditors' Proofs of Debt Due July 19
MSR ASIA: Creditors' Proofs of Debt Due July 9
PARVUS EUROPEAN: Creditors' Proofs of Debt Due July 9
TURNSTONE INTERNATIONAL: Creditors' Proofs of Debt Due July 18
WOODS COMPANY: Commences Liquidation Proceedings


H O N D U R A S

* HONDURAS: To Get $50MM IDB Loan to Expand Health Services


M E X I C O

CORPORACION INTERAMERICANA: S&P Raises CCR to 'B+'; Outlook Stable
GRUPO TMM: Incurs MXN781.1-Mil. Net Loss in 2012
MAXCOM TELECOMUNICACIONES: Misses Interest Payment to Noteholders
PETROLEOS DE VENEZUELA: S&P Lowers Corporate Credit Rating to 'B'


P U E R T O   R I C O

LAUSELL INC: Disclosure Statement Hearing Set for Aug. 7


X X X X X X X X

* Moody's Outlook on Chemical Sectors is Negative
* Upcoming Meetings, Conferences and Seminars


                            - - - - -


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


CUANTICO SRL: Proofs of Claim Verification Deadline on July 31
--------------------------------------------------------------
Susana Mabel Costa, the court-appointed trustee for Cuantico SRL's
bankruptcy proceedings, will be verifying creditors' proofs of
claim until July 31, 2013.

Ms. Costa will present the validated claims in court as individual
reports.  The National Commercial Court of First Instance No. 13
in Buenos Aires, with the assistance of Clerk No. 26, will
determine if the verified claims are admissible, taking into
account the trustee's opinion, and the objections and challenges
that will be raised by the company and its creditors.

Inadmissible claims may be subject to appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of the company's
accounting and banking records will be submitted in court.

La Nacion didn't state the submission dates for the reports.

The Trustee is also in charge of administering the company's
assets under court supervision and will take part in their
disposal to the extent established by law.

The Trustee can be reached at:

          Susana Mabel Costa
          Alicia Moreau de Justo 2030
          Buenos Aires, Argentina


DIMENSION VERDE: Proofs of Claim Verification Deadline on July 12
-----------------------------------------------------------------
Luis Alberto Cortes, the court-appointed trustee for Dimension
Verde SA's bankruptcy proceedings, will be verifying creditors'
proofs of claim until July 12, 2013.

Mr. Cortes will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 24 in Buenos Aires, with the assistance of Clerk
No. 24, will determine if the verified claims are admissible,
taking into account the trustee's opinion, and the objections and
challenges that will be raised by the company and its creditors.

Inadmissible claims may be subject to appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of the company's
accounting and banking records will be submitted in court.

La Nacion didn't state the submission dates for the reports.

The Trustee is also in charge of administering the company's
assets under court supervision and will take part in their
disposal to the extent established by law.

The Trustee can be reached at:

          Luis Alberto Cortes;
          Av. Cordoba 1646
          Buenos Aires, Argentina


MASTELLONE HERMANOS: S&P Lowers CCR to 'CCC'; Outlook Negative
--------------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on Mastellone Hermanos S.A. to 'CCC' from 'CCC+'.  At the
same time, S&P lowered the issue rating on the company's senior
unsecured notes to 'CCC' from 'CCC+'.  The outlook is negative.

The downgrade reflects S&P's expectation that Mastellone's
liquidity will be significantly pressured over the next 12 months.
Higher costs, which cannot be fully passed on to sales prices,
together with significant exchange rate losses, given the
accelerating pace of the Argentine peso depreciation, will
continue to erode the company's results and cash flows.  Under
this scenario, S&P expects sources of funds to fall short of uses
by about $30 million over the second half of 2013.  Nevertheless,
S&P believes Mastellone will be able to meet the semiannual debt
service payment of about $37 million, which includes the
$20 million principal payment of the E bullet notes due June 21,
2013.


PILISAR: Moody's Rates New ARS100.7MM Guaranteed Bank Loan 'B2'
---------------------------------------------------------------
Moody's Latin America has assigned first-time B2 global local
currency rating and an Aa3.ar National Scale Rating to Pilisar's
ARS 100.7 million bank credit lines with Banco de la Nacion
Argentina ("BNA"; not rated) with a negative outlook in line with
the current rating and outlook of its guarantor, Newsan. At the
same time, Moody's has assigned a Caa3 global local currency
corporate family rating to Pilisar S.A. The outlook for this
rating is stable.

Proceeds will be used to satisfy the company's capital
expenditures and working capital program.

Ratings Rationale:

The Caa3 Global Local Currency Corporate Family Rating reflects
the company's small scale and size, narrow product lines, and
concentration in a single market. The ratings also consider the
company's rapid growth, short and volatile operating history and
the financial and operational risks of its future expansion.
Pilisar's limited geographic diversity, operating in a relatively
low GDP per capita region, and its meaningful dependence on its
primary manufacturing location in Argentina also constrain the
ratings

The B2/Aa3.ar rating for the bank loan reflects the full and
unconditional guarantee of the debt by Newsan S.A.

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 Argentina.

The negative outlook on the guaranteed bank loan reflects the
negative outlook on Newsan's ratings. Newsan's ratings outlook is
negative, in line with Moody's negative outlook for the Argentine
government's B3 rating. The negative outlook for Newsan reflects
Moody's view that the creditworthiness of the company cannot be
completely de-linked from the credit quality of the Argentine
government and thus their ratings need to closely reflect the risk
that Newsan shares with the sovereign. Moody's believes that a
weaker sovereign has the potential to create a ratings drag on
companies operating within its borders, and that it is therefore
appropriate to limit the extent to which these issuers can be
rated higher than the sovereign.

Moody's notes that a downgrade of Newsan's ratings would result in
a negative rating action for Pilisar's ARS 100.7 million bank
credit lines with Banco de la Nacion Argentina.

Even though an upgrade is not anticipated in the foreseeable
future, Pilisar's ratings could experience upward pressure if
Newsan's B2 rating were to be upgraded. In addition, upward
pressure could result if Pilisar is able to expand its size and
production levels as well as generate steady organic revenue
growth. Additionally, a rating upgrade would be possible if
Pilisar demonstrates a sustainable business model after the
successfully re-launch of the SIAM brand name in the local market.

The principal methodology used in this rating was the Asian
Consumer Electronics Industry Methodology published in December
2010.

Headquartered in Buenos Aires, Argentina, Pilisar is a local
appliance manufacturer. With total revenues of ARS 2.4 million in
the latest fiscal year ended March 31, 2012, the company was
founded in 2005 and it is majority owned by Newsan's local
shareholders.


PRESTAMED SA: Files for Reorganization Proceedings
--------------------------------------------------
Prestamed SA has requested for reorganization approval after
failing to pay its liabilities since May 3, 2012.

The reorganization petition, once approved by the court, will
allow the company to negotiate a settlement with its creditors in
order to avoid a straight liquidation.

The case is pending in the National Commercial Court of First
Instance No. 22 in Buenos Aires.  Clerk No. 43 assists the court
in this case.

The debtor can be reached at:

          Prestamed SA
          Suipacha 396
          Buenos Aires, Argentina


SOFT PACK: Proofs of Claim Verification Deadline on July 11
-----------------------------------------------------------
Leon Sergio Fucks, the court-appointed trustee for Soft Pack SA's
bankruptcy proceedings, will be verifying creditors' proofs of
claim until July 11, 2013.

Mr. Fucks will present the validated claims in court as individual
reports.  The National Commercial Court of First Instance No. 10
in Buenos Aires, with the assistance of Clerk No. 19, will
determine if the verified claims are admissible, taking into
account the trustee's opinion, and the objections and challenges
that will be raised by the company and its creditors.

Inadmissible claims may be subject to appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of the company's
accounting and banking records will be submitted in court.

La Nacion didn't state the submission dates for the reports.

The Trustee is also in charge of administering the company's
assets under court supervision and will take part in their
disposal to the extent established by law.

The Trustee can be reached at:

          Leon Sergio Fucks
          Montevideo 596
          Buenos Aires, Argentina


VOSS SACI: Proofs of Claim Verification Deadline on June 26
-----------------------------------------------------------
Estudio Vergara, the court-appointed trustee for Voss SACI's
reorganization proceedings, will be verifying creditors' proofs of
claim until June 26, 2013.

The Trustee will present the validated claims in court as
individual reports.  The National Commercial Court of First
Instance No. 26 in Buenos Aires, with the assistance of Clerk
No. 51, will determine if the verified claims are admissible,
taking into account the trustee's opinion, and the objections and
challenges that will be raised by the company and its creditors.

Inadmissible claims may be subject to appeal in a separate
proceeding known as an appeal for reversal.

A general report that contains an audit of Voss SACI's accounting
and banking records will be submitted in court.

La Nacion didn't state the submission dates for the reports.

The Trustee is also in charge of administering the company's
assets under court supervision and will take part in their
disposal to the extent established by law.

The Trustee can be reached at:

          Estudio Vergara
          Sala, Spinelli y Asociados
          Combate de los Pozos 1564
          Buenos Aires, Argentina


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


3A WINDRIDER: Creditors' Proofs of Debt Due July 9
--------------------------------------------------
The creditors of 3A Windrider Fund are required to file their
proofs of debt by July 9, 2013, to be included in the company's
dividend distribution.

The company commenced liquidation proceedings on May 29, 2013.

The company's liquidator is:

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


BURRATOR CAPITAL: Commences Liquidation Proceedings
---------------------------------------------------
On May 21, 2013, the sole shareholder of Burrator Capital Limited
passed a resolution that voluntarily liquidates the company's
business.

The company's liquidator is:

          Reverio Capital Limited
          c/o Intertrust Corporate Services (Cayman) Limited
          190 Elgin Avenue, George Town
          Grand Cayman, KY1-9005
          Cayman Islands


CHAMP EXPLORER: Creditors' Proofs of Debt Due July 17
-----------------------------------------------------
The creditors of Champ Explorer Holdings Limited are required to
file their proofs of debt by July 17, 2013, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on May 28, 2013.

The company's liquidator is:

          Intertrust SPV (Cayman) Limited
          190 Elgin Avenue, George Town
          Grand Cayman KY1-9005
          Cayman Islands
          c/o Kim Charaman/Jennifer Chailler
          Telephone: (345) 943 3100


GREENHEART CAPITAL: Commences Liquidation Proceedings
-----------------------------------------------------
On June 1, 2013, the shareholder of Greenheart Capital Fund
(Offshore) Ltd passed a resolution that voluntarily liquidates the
company's business.

The company's liquidator is:

          Greenheart Capital Partners LLC
          c/o 263 Tresser Blvd., 9th Floor
          Stamford, CT 06901, USA
          Telephone: +1 (345) 914 6365


JADE VIII: Creditors' Proofs of Debt Due July 9
-----------------------------------------------
The creditors of Jade VIII, Inc. are required to file their proofs
of debt by July 9, 2013, to be included in the company's dividend
distribution.

The company commenced liquidation proceedings on May 16, 2013.

The company's liquidator is:

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


MARATHON PORTFOLIO: Creditors' Proofs of Debt Due July 19
---------------------------------------------------------
The creditors of Marathon Portfolio International Limited are
required to file their proofs of debt by July 19, 2013, to be
included in the company's dividend distribution.

The company's liquidator is:

          Y.R. Kunetka
          5555 San Felipe St.
          Houston, Texas 77056 U.S.A.


MSR ASIA: Creditors' Proofs of Debt Due July 9
----------------------------------------------
The creditors of MSR Asia Acquisitions X, Inc. are required to
file their proofs of debt by July 9, 2013, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on May 16, 2013.

The company's liquidator is:

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


PARVUS EUROPEAN: Creditors' Proofs of Debt Due July 9
-----------------------------------------------------
The creditors of Parvus European Plus Fund are required to file
their proofs of debt by July 9, 2013, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on May 30, 2013.

The company's liquidator is:

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


TURNSTONE INTERNATIONAL: Creditors' Proofs of Debt Due July 18
--------------------------------------------------------------
The creditors of Turnstone International Ltd. are required to file
their proofs of debt by July 18, 2013, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on May 28, 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


WOODS COMPANY: Commences Liquidation Proceedings
------------------------------------------------
On May 28, 2013, the sole shareholder of Woods Company Limited
passed a resolution that voluntarily liquidates the company's
business.

Creditors are required to file their proofs of debt to be included
in the company's dividend distribution.

The company's liquidator is:

          Christopher R. Rodi
          700 Crossroads Bldg, 2 State St
          Rochester, NY 14614


================
H O N D U R A S
================


* HONDURAS: To Get $50MM IDB Loan to Expand Health Services
-----------------------------------------------------------
Honduras will utilize a $50 million loan from the Inter-American
Development Bank (IDB) to improve access to quality health
services, especially in poor rural areas, enabling the government
to double the number of beneficiaries by 2015.

Honduras has achieved significant improvements in health
indicators over the past 20 years, increasing life expectancy and
lowering maternal and infant mortality rates.  However, important
problems remain, particularly the unequal access to health
services for the country's rural poor.

This is especially true for maternal and child health: Only 20
percent of poor women undergo prenatal controls, compared to 79
percent nationally.  Maternal and infant mortality rates are much
higher in rural areas.  In addition, Honduras has the second-
highest rate of child malnutrition in Central America, with 30
percent of children under the age of five malnourished.  In that
age group, more than half the deaths are attributable to
malnutrition.

The project aims to strengthen the institutional capacity of the
Ministry of Health (SESAL), the entity responsible for its
execution.  The main challenge will be in rural areas where it is
necessary to ensure the availability of human resources, materials
and medicines for permanent attention to protect the most
vulnerable groups.  Through the implementation of decentralized
management, the aim is to improve access, efficiency and quality
of services, in order to reduce by 25 percent the mortality rate
for hospitalized women and by 15 percent the number of neonatal
deaths.

The IDB financing consists of $35 million from ordinary capital,
with a 30-year term, a grace period of 5.5 years and an interest
rate based on LIBOR, and $15 million from the Fund for Special
Operations, with a 40-year term and grace period and 0.25 percent
interest.


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


CORPORACION INTERAMERICANA: S&P Raises CCR to 'B+'; Outlook Stable
------------------------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit and
issue-level ratings on Corporacion Interamericana de
Entretenimiento S.A.B. de C.V. (CIE) to 'B+' from 'B-'.  At the
same time, S&P revised the recovery rating of the high-yield bonds
to '3' from '4', reflecting its expectation of meaningful (50%-
70%) recovery of principal on the bonds in the event of a payment
default.  The outlook is stable.

The upgrade is based on CIE's improved financial metrics as a
result of the significant reduction of its debt through the
proceeds received from the sale of its media unit to America Movil
S.A.B. de C.V. (AMX) for MXN1.07 billion and the issuance of a new
short-term note for MXN991 million.

The ratings on CIE reflect its "weak" business risk profile and
its "aggressive" financial risk profile.  These assessments take
into account the company's "less-than-adequate" liquidity, the low
EBITDA margin of the concert business resulting from high artist
clout, the holding company's dependence on CIE Entretenimiento's
dividends to fulfill its debt service obligations, the
concentration of its operations in Mexico, and dependence on the
timing of global concert tours, seasonality, and consumer and
corporate discretionary spending and tastes.  "The partly
offsetting factors are the company's improved financial metrics
following a considerable debt reduction, its favorable competitive
position thanks to its operation of the largest venue network in
Mexico and the leading ticketing operation in a joint venture with
Ticketmaster, high entry barriers to the concert market, and
higher profitability compared to its international peers, despite
the low margins of the industry," said Standard & Poor's credit
analyst Marcela Duenas.


GRUPO TMM: Incurs MXN781.1-Mil. Net Loss in 2012
------------------------------------------------
Grupo TMM, S.A.B., filed on June 12, 2013, Amendment No. 1 on Form
20-F/A to amend its annual report on Form 20-F for the fiscal year
ended Dec. 31, 2012, as originally filed with the Securities and
Exchange Commission on May 15, 2013, solely for the purposes of
(i) re-filing the Company's financial statements in Item 18 to
include the signature of Salles Sainz - Grant Thornton, S.C.
("SSGT"), independent registered public accounting firm, in its
Report of Independent Registered Public Accounting Firm with
respect to the Company's financial statements and (ii) filing or
furnishing new certifications by the Company's principal executive
officer and principal financial officer as required by Rule 12b-15
under the Securities Exchange Act of 1934, as amended.

Salles Sainz - Grant Thornton, S.C., in Mexico City, expressed
substantial doubt about Grupo TMM's ability to continue as a going
concern, citing the Company's significant net losses in 2012 and
2010, principally as a result of its comprehensive financing cost.

The Company reported a net loss of MXN781.1 million on MXN3.335
billion of transportation revenue in 2012, compared to net income
of MXN191.6 million on MXN3.345 billion of transportation revenue
in 2011.

The gain on exchange of MXN41.0 million and MXN1.165 billion
included in the consolidated statement of operations for the years
ended Dec. 31, 2012, and 2011, respectively, is due to the
significant appreciation of the Mexican peso against the U.S.
dollar, where a large portion of the debt is denominated in
Mexican pesos, represented by the issuance of the trust
certificates.

The Company's balance sheet at Dec. 31, 2012, showed
MXN12.945 billion in total assets, MXN12.286 billion in total
liabilities, and stockholders' equity of $658.8 million.

A copy of the Form 20-F/A is available at http://is.gd/nnQ3Mk

Mexico City-based Grupo TMM, S.A.B. (OTC: GTMAY and BMV: TMM A)
is a Latin American intermodal transportation company.  Through
its branch offices and network of subsidiary companies, TMM
provides ocean and land transportation services.


MAXCOM TELECOMUNICACIONES: Misses Interest Payment to Noteholders
-----------------------------------------------------------------
Maxcom Telecomunicaciones, S.A.B. de C.V. disclosed that it
intends to utilize a 30-day grace period with respect to June 18
2013's scheduled interest payment of approximately US$11 million
on its 11% Senior Notes due 2014 to allow the Company to continue
discussions with a new investor and certain of the note holders to
recapitalize and reorganize the Company's debt.

Maxcom believes that it is prudent to utilize such grace period to
implement a comprehensive recapitalization that would
significantly reduce Maxcom's debt service expense and position
Maxcom for growth with a US$45 million capital infusion.

Maxcom, private equity firm Ventura Capital Privado, S.A. de C.V.,
an ad hoc committee representing a significant amount of the
Senior Notes and certain of its current equity holders have been
negotiating the terms of restructuring and recapitalization
agreements, which would be implemented through a voluntary,
prepackaged Chapter 11 filing under the U.S. Bankruptcy Code and
an equity tender offer in accordance with U.S. and Mexican
securities laws.

The Company intends to operate in the ordinary course of business
during this period and continue to provide a high level of
responsiveness to its customers, vendors and business partners.

No assurances can be given that a proposed recapitalization and
restructuring will be successful or that holders of Maxcom's debt
obligations and/or relevant stakeholders will reach an agreement.

If a consensual, pre-packaged Chapter 11 restructuring cannot be
implemented, Maxcom may be forced to file for bankruptcy or
concurso mercantil without the support of a significant portion of
its creditors.  A failure to complete a restructuring through pre-
packaged restructuring Chapter 11, or otherwise, could have a
material adverse effect on the business or the interests of
holders of Maxcom's debt and equity securities.

The Company has engaged Lazard and its alliance partner Alfaro,
Davila y Rios, S.C. as its financial advisor and Kirkland & Ellis,
LLC and Santamarina y Steta, S.C. as its U.S. and Mexican legal
advisors to assist the Company in evaluating potential
restructuring proceedings, including the commencement of a Chapter
11 case.

The Ad Hoc Committee has retained Cleary Gottlieb Steen &
Hamilton, LLP and Cervantes Sainz, S.C., as its U.S. and Mexican
legal advisors. Ventura has retained VACE Partners as its
financial advisor, and Paul Hastings LLP and Jones Day as its U.S.
and Mexican legal advisors, respectively.

                              About Maxcom

Maxcom Telecomunicaciones, S.A.B. de C.V., headquartered in Mexico
City, Mexico, is a facilities-based telecommunications provider
using a "smart-build" approach to deliver last-mile connectivity
to micro, small and medium-sized businesses and residential
customers in the Mexican territory.  Maxcom launched commercial
operations in May 1999 and is currently offering local, long
distance, data, value-added, paid TV and IP-based services on a
full basis in greater metropolitan Mexico City, Puebla, Tehuacan,
San Luis, and Queretaro, and on a selected basis in several cities
in Mexico.

                           *    *     *

Maxcom carries a 'CC' corporate credit rating from Standard &
Poor's Ratings Services and a "Caa1" from Moody's Investors
Service.


PETROLEOS DE VENEZUELA: S&P Lowers Corporate Credit Rating to 'B'
-----------------------------------------------------------------
Standard & Poor's Ratings Services lowered its long-term corporate
credit and senior unsecured debt ratings on Petroleos de Venezuela
S.A. (PDVSA) to 'B' from 'B+'.  The outlook remains negative.

Prior to this rating action S&P assessed the company's stand-
alone credit profile (SACP) at 'b+'.  "We will reassess PDVSA's
SACP during the next 60 days in light of the recent sovereign
downgrade but the outcome will not affect our 'B' rating on PDVSA
due to the company's GRE status and the likelihood of negative
government intervention under a sovereign distress scenario," said
Standard & Poor's credit analyst Fabiola Ortiz.


=====================
P U E R T O   R I C O
=====================


LAUSELL INC: Disclosure Statement Hearing Set for Aug. 7
--------------------------------------------------------
Judge Mildred Caban Flores of the U.S. Bankruptcy Court for the
District of Puerto Rico will convene a hearing to consider the
adequacy of the amended disclosure statement explaining Lausell
Inc.'s plan of reorganization on Aug. 7, 2013, at 09:00 a.m.
Objections to the disclosure statement must be filed on or before
June 24.

Holders of allowed general unsecured claims (Class 6) are impaired
and will recover 2% of their claim amount.  Payment of the Class 6
Claims will come from the $50,000 carve out to be reserved from
the proceeds of the sale of the Debtor's assets to La Re.  La Re,
as Purchaser, will provide a Cash payment to fund the Plan
sufficient to (i) settle in full the secured claims of First Bank
Puerto Rico and Citibank, N.A., for $5,600,000, in Cash; (ii) and
will assume certain of Debtor's debts for $3,080,489, including
the claim of Puerto Rico Industrial Development Co. (Class 2).

A full-text copy of the Disclosure Statement dated June 3, 2013,
is available for free at:

            http://bankrupt.com/misc/LAUSELLds0603.pdf

Charles A. Cuprill, Esq. -- ccuprill@cuprill.com -- at Charles A.
Cuprill, P.S.C. Law Offices, in San Juan, PR, with Tel. No. 787-
977-0515 and Fax No.  787-977-0518, is the Debtor's counsel.

                        About Lausell Inc.

Lausell, Inc., filed a bare-bones Chapter 11 petition (Bankr.
D.P.R. Case No. 12-02918) on April 17, 2012, in Old San Juan,
Puerto Rico.  Lausell, also known as Aluminio Del Caribe, is a
manufacturer of windows and doors.

Bankruptcy Judge Mildred Caban Flores oversees the case.  Charles
Alfred Cuprill, Esq., at Charles A. Curpill, P.S.C. Law Offices,
in San Juan, Puerto Rico, serves as counsel to the Debtor.

The Bayamon, Puerto Rico-based company disclosed $34,059,950 in
assets and liabilities of $24,489,414 in its amended schedules.


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


* Moody's Outlook on Chemical Sectors is Negative
-------------------------------------------------
Moody Investors Service's outlook for the North American and EMEA
chemical industry remains negative, based on the ratings agency's
depressed economic forecast for Europe, uncertainty around China's
growth rate and the modest pace of economic recovery in the US.

"The North American and EMEA chemical industry will continue to be
pressured primarily by poor industrial activity in Europe," says
Vice President -- Senior Analyst James Wilkins in the new report,
"European Weakness and Uncertain Demand from Asia Keep Chemicals
in Doldrums."

"Sales volumes declined for many European chemical firms in the
second half of 2012, with disappointing financial results in early
2013 a reflection of the region's contracting GDP and industrial
production," Wilkins says.

Moody's projects that economic recovery will begin to take hold in
Europe in the second half of this year, but the firm does not
foresee a large increase in demand for chemicals there over the
next 12 to 18 months.

In addition, much depends on the strength of China's economy,
since China accounts for a large portion of global growth and has
supported the North American and EMEA chemical industry in recent
years. Moody's expects stable growth in China, Wilkins says, but
demand for chemicals has not broadly reflected the country's
recent economic growth statistics.

Meanwhile, over the next year or so modest economic growth and low
natural gas feedstock prices will support sales and margins for
North American chemical producers, continuing to allow them to
export to Latin America and Asia. Low natural gas prices in North
America will benefit producers of ethylene, methanol and ammonia.

Higher agricultural production and low natural gas prices will
boost North American producers of nitrogen-based fertilizers and
methanol, according to the report. Chemicals sold in certain non-
cyclical end markets such as food, beverages, medical products and
personal care, should also continue to perform well through this
year and next, the report says.


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

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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