TCRLA_Public/130709.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

           Tuesday, July 9, 2013, Vol. 14, No. 134


                            Headlines



B R A Z I L

BIC ARRENDAMENTO: Moody's May Downgrade All Ratings
GOL LINHAS: S&P Affirms 'B' Corp. Credit Rating; Outlook Negative


C A Y M A N  I S L A N D S

ANCHOR POINT: Creditors' Proofs of Debt Due July 23
BASSO CREDIT: Members to Hold Final Meeting on Aug. 1
BEST GROWTH: Creditors' Proofs of Debt Due July 24
CIL LIMITED: Placed Under Voluntary Liquidation
FQ A-SQUARED: Creditors' Proofs of Debt Due July 31

LESMANS INDUSTRIES: Creditors' Proofs of Debt Due Aug. 5
LINCOLN VALE: Creditors' Proofs of Debt Due July 22
MARUENERGY JPS: Creditors' Proofs of Debt Due July 23
METWEST ENHANCED: Creditors' Proofs of Debt Due July 31
QUEST BRAZIL: Creditors' Proofs of Debt Due July 24

SONIC INTERNATIONAL: Creditors' Proofs of Debt Due Aug. 1
STARNOTTO INTERNATIONAL: Creditors' Proofs of Debt Due Aug. 5
SUGAR HILL: Creditors' Proofs of Debt Due July 31
TAM ABSOLUTE: Creditors' Proofs of Debt Due July 23
WGF FEEDER: Placed Under Provisional Liquidation


J A M A I C A

UC RUSAL: Co-Owner Donates Bonus to Incentive Scheme for Workers


M E X I C O

METROFINANCIERA: S&P Retains mxB- Rating on METROCB 06U Notes
* MEXICO: Offers Credit for Homebuilders Battered by Policy Shift


P U E R T O   R I C O

LAUSELL INC: Plan Outline Hearing Moved Earlier to July 17
LAUSELL INC: Cash Collateral Access Extended Thru July 31


T R I N I D A D  &  T O B A G O

* TRINIDAD AND TOBAGO: Inflation Rate Decreased in May


X X X X X X X X

* Large Companies With Insolvent Balance Sheets


                            - - - - -


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


BIC ARRENDAMENTO: Moody's May Downgrade All Ratings
---------------------------------------------------
Moody's America Latina has placed on review for possible downgrade
all ratings assigned to BIC -- Arrendamento Mercantil S.A.,
including the long-term global local-currency issuer rating of
Baa3, the long-term Brazilian national scale issuer rating of
Aa1.br, the long-term global local currency subordinated debt
rating of Ba1 and the long-term Brazilian national scale
subordinated debt rating of Aa2.br.

This rating action is in line with the review for downgrade of
Banco Industrial and Comercial S.A. (BICBANCO)'s ratings,
announced on July 5, 2013.

The following ratings of BIC - Arrendamento Mercantil S.A. were
placed on review for downgrade:

Long-term global local currency issuer rating of Baa3

Long-term Brazil national scale issuer rating of Aa1.br

Long-term global local currency subordinated debt rating of Ba1

Long-term Brazilian national scale subordinated debt rating of
Aa2.br

Ratings Rationale:

Moody's explained that the local currency issuer rating derives
from BICBANCO's Baa3 global local currency deposit rating, which
in turn incorporates the bank's standalone credit rating of D+,
which maps to a baseline credit assessment of baa3. The
subordination of the notes was taken into consideration in the
assignment of the debt ratings.

The last rating action on BIC - Arrendamento Mercantil S.A. was on
November 8, 2010, when Moody's assigned long-term global local
currency subordinated debt rating of Ba1 and long-term Brazilian
national scale subordinated debt rating of Aa2.br to BIC Leasing's
R$200 million subordinated, non-convertible two-year debentures.

The principal methodology used in this rating was Global Banks
published in May 2013.

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.

BIC Leasing is headquartered in Fortaleza, Ceara, Brazil and
reported total assets of approximately R$712 million ($348
million) and equity of R$188 million ($92 million) as of
December 31, 2012.


GOL LINHAS: S&P Affirms 'B' Corp. Credit Rating; Outlook Negative
-----------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B' global-scale
corporate credit rating on Gol Linhas Aereas Inteligentes S.A.
(GOL).  S&P also affirmed its 'brBBB-' national scale rating on
GOL.  At the same time, S&P removed all its ratings on GOL from
CreditWatch, where they were placed with negative implications on
Aug. 15, 2012.  The outlook is negative.

The negative outlook reflects the company's current weak credit
metrics and the risks we see that any improvement will take longer
than expected to materialize such as persistent lower demand and
overcapacity in the domestic passenger transportation sector,
preventing the airline from making any significant increase in
passenger revenue per available seat kilometer (PRASK).  "At the
same time, costs continue to pressure margins given the recent
devaluation in the Brazilian real of about 10% so far in 2013.
The weak local currency sharpens U.S. dollar-denominated expenses
such as leasing, maintenance, and fuel--collectively about 50% of
the company's total costs--while 90% of Gol's revenues is in local
currency," said Standard & Poor's credit analyst Rafaela Vitoria.

"The ratings reflect our assessment of GOL's business risk profile
as "weak" and financial risk profile as "highly-leveraged."  We
believe domestic demand fundamentals remain positive over the
longer term, including favorable demographics and improving income
and employment levels in Brazil.  However, excess capacity and the
economic slowdown in the country have kept domestic fares low,
while high fuel prices have hurt GOL's profitability and cash
generation.  The slowdown in demand has weakened its revenues
which are primarily generated from domestic flights.  We believe
actions to reduce capacity, which are crucial to improve
performance, have taken time to implement and therefore financial
results take longer to consolidate," S&P said.

GOL has lost some market share and has recently presented still
low load factors on its domestic flights as it has cut capacity
more aggressively than its competitors.


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


ANCHOR POINT: Creditors' Proofs of Debt Due July 23
---------------------------------------------------
The creditors of Anchor Point Capital Global Macro Fund Ltd. are
required to file their proofs of debt by July 23, 2013, to be
included in the company's dividend distribution.

The company commenced wind-up proceedings on June 7, 2013.

The company's liquidator is:

          Ogier
          c/o Madeleine Welham
          Telephone: (345) 815 1750
          Facsimile: (345) 949 9877
          89 Nexus Way, Camana Bay
          Grand Cayman KY1-9007
          Cayman Islands


BASSO CREDIT: Members to Hold Final Meeting on Aug. 1
------------------------------------------------------
The members of Basso Credit Opportunities Fund Ltd. will hold
their final meeting on Aug. 1, 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


BEST GROWTH: Creditors' Proofs of Debt Due July 24
--------------------------------------------------
The creditors of Best Growth Fund SPC are required to file their
proofs of debt by July 24, 2013, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on June 20, 2013.

The company's liquidator is:

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


CIL LIMITED: Placed Under Voluntary Liquidation
-----------------------------------------------
On May 14, 2013, CIL Limited was placed under voluntary
liquidation.

The company's liquidator is:

          Matthew Wright
          Telephone: (345) 949 7576
          Facsimile: (345) 949 8295
          PO Box 897 Windward 1
          Regatta Office Park
          Grand Cayman KY1-1103
          Cayman Islands


FQ A-SQUARED: Creditors' Proofs of Debt Due July 31
---------------------------------------------------
The creditors of FQ A-Squared Fund Ltd. are required to file their
proofs of debt by July 31, 2013, to be included in the company's
dividend distribution.

The company commenced liquidation proceedings on June 20, 2013.

The company's liquidator is:

          Mourant Ozannes Cayman Liquidators Limited
          Mourant Ozannes
          Reference: Christine Fletcher
          Telephone: +1 (345) 949 4123
          Facsimile: +1 (345) 949 4647; or

          Mourant Ozannes Cayman Liquidators Limited
          Reference: Peter Goulden
          Telephone: +1 (345) 949 4123
          Facsimile: +1 (345) 949 4647
          94 Solaris Avenue Camana Bay
          P.O. Box 1348 Grand Cayman KY1-1108
          Cayman Islands


LESMANS INDUSTRIES: Creditors' Proofs of Debt Due Aug. 5
--------------------------------------------------------
The creditors of Lesmans Industries Ltd. are required to file
their proofs of debt by Aug. 5, 2013, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on June 12, 2013.

The company's liquidator is:

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


LINCOLN VALE: Creditors' Proofs of Debt Due July 22
---------------------------------------------------
The creditors of Lincoln Vale European Partners Fund are required
to file their proofs of debt by July 22, 2013, to be included in
the company's dividend distribution.

The company commenced liquidation proceedings on June 21, 2013.

The company's liquidator is:

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


MARUENERGY JPS: Creditors' Proofs of Debt Due July 23
------------------------------------------------------
The creditors of Maruenergy JPS (Cayman Islands) Finance Ltd are
required to file their proofs of debt by July 23, 2013, to be
included in the company's dividend distribution.

The company commenced wind-up proceedings on June 11, 2013.

The company's liquidator is:

          Ogier
          c/o Mark Santangeli
          Telephone: (345) 815 1766
          Facsimile: (345) 949 9877
          89 Nexus Way, Camana Bay
          Grand Cayman KY1-9007
          Cayman Islands


METWEST ENHANCED: Creditors' Proofs of Debt Due July 31
--------------------------------------------------------
The creditors of Metwest Enhanced Talf Strategy Fund, Ltd. are
required to file their proofs of debt by July 31, 2013, to be
included in the company's dividend distribution.

The company commenced liquidation proceedings on June 20, 2013.

The company's liquidator is:

          Mourant Ozannes Cayman Liquidators Limited
          Mourant Ozannes
          Reference: Christine Fletcher
          Telephone: +1 (345) 949 4123
          Facsimile: +1 (345) 949 4647; or

          Mourant Ozannes Cayman Liquidators Limited
          Reference: Peter Goulden
          Telephone: +1 (345) 949 4123
          Facsimile: +1 (345) 949 4647
          94 Solaris Avenue Camana Bay
          P.O. Box 1348 Grand Cayman KY1-1108
          Cayman Islands


QUEST BRAZIL: Creditors' Proofs of Debt Due July 24
---------------------------------------------------
The creditors of Quest Brazil Macro Fund SPC are required to file
their proofs of debt by July 24, 2013, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on June 10, 2013.

The company's liquidator is:

          Ogier
          c/o Kate O'Neill
          Telephone: (345) 815 1822
          Facsimile: (345) 949 9877
          89 Nexus Way, Camana Bay
          Grand Cayman KY1-9007
          Cayman Islands


SONIC INTERNATIONAL: Creditors' Proofs of Debt Due Aug. 1
----------------------------------------------------------
The creditors of Sonic International Cayman Limited are required
to file their proofs of debt by Aug. 1, 2013, to be included in
the company's dividend distribution.

The company commenced liquidation proceedings on June 19, 2013.

The company's liquidator is:

          Portcullis Trustnet (Cayman) Ltd
          c/o Michelle R. Bodden-Moxam
          Telephone: (345) 946 6145
          Facsimile: (345) 946 6146
          The Grand Pavilion Commercial Centre
          Oleander Way, 802 West Bay Road
          P.O. Box 32052 Grand Cayman KY1-1208
          Cayman Islands


STARNOTTO INTERNATIONAL: Creditors' Proofs of Debt Due Aug. 5
--------------------------------------------------------------
The creditors of Starnotto International Ltd. are required to file
their proofs of debt by Aug. 5, 2013, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on June 10, 2013.

The company's liquidator is:

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


SUGAR HILL: Creditors' Proofs of Debt Due July 31
-------------------------------------------------
The creditors of Sugar Hill Investments Ltd. are required to file
their proofs of debt by July 31, 2013, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on June 21, 2013.

The company's liquidator is:

          Buchanan Limited
          c/o Allison Kelly
          Telephone: (345) 949 0355
          Facsimile: (345) 949 0360
          P.O. Box 1170, George Town
          Grand Cayman KY1-1102
          Cayman Islands


TAM ABSOLUTE: Creditors' Proofs of Debt Due July 23
---------------------------------------------------
The creditors of Tam Absolute Return Fund Limited are required to
file their proofs of debt by July 23, 2013, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on May 30, 2013.

The company's liquidator is:

          Mike Saville
          c/o Peter Bigwood
          10 Market Street #765, Camana Bay
          Grand Cayman
          Cayman Islands KY1 9006
          Telephone: (345) 949 7100
          Facsimile: (345) 949 7120


WGF FEEDER: Placed Under Provisional Liquidation
------------------------------------------------
On June 14, 2013, the Grand Court of the Cayman Islands entered an
order to place WGF Feeder Fund under provisional liquidation.

The company's provisional liquidators are:

          K. Beighton
          A. Lawson
          KPMG
          P.O. Box 493, Century Yard
          Cricket Square, Grand Cayman KY1-1106
          Cayman Islands
          Telephone: (345) 815 2608
          Facsimile: (345) 949 7164


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


UC RUSAL: Co-Owner Donates Bonus to Incentive Scheme for Workers
----------------------------------------------------------------
RJR News reports that Oleg Deripaska, co-owner of aluminum giant
UC Rusal, has introduced a bonus scheme to reward promising
employees using his own bonus money.

Mr. Deripaska will put the US$3 million bonus he received last
year into a special trust to reward the company's best workers,
according to RJR News.

The trust will gradually acquire up to 0.05 per cent of UC Rusal's
shares, the report notes.

RJR News relates that the company will also compensate employees
for any tax liabilities that arise on the value of the stock.

Ninety per cent of those eligible for the reward are factory
workers based in Russia or abroad, the report relays.

The report adds that about 120 workers will be selected to receive
bonuses in the first round of awards, expected to take place
before July 20.

UC Rusal has a stake in the Alpart and Kirkvine alumina refineries
in Jamaica, the report says.

                          *     *     *

As reported in the Troubled Company Reporter-Latin America on
April 25, 2013, RJR News reported that UC Rusal said its 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.

TCRLA reported on Sept. 28, 2012, that RJR News said UC Rusal
expects to reach a deal with its lenders within six months to
refinance part of an US$11 billion debt burden.  It said it will
agree to new loan conditions by the end of 2012 before its
covenant holiday expires, according to RJR News.


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


METROFINANCIERA: S&P Retains mxB- Rating on METROCB 06U Notes
-------------------------------------------------------------
Standard & Poor's Ratings Services said that seven of its long-
term ratings on Mexican residential mortgage-backed securities
(RMBS) transactions originated and serviced by Metrofinanciera
S.A.P.I. de C.V. SOFOM E.N.R. (Metrofinanciera) remain on
CreditWatch, where they were placed with negative implications on
April 9, 2013.

The continued CreditWatch listing for these ratings reflects S&P's
view that operative risks related to the legal process held
against Metrofinanciera, which acts as primary servicer, have not
been completely mitigated.

Although part of the collections have been deposited in unfrozen
or unaffected accounts of Metrofinanciera and have been available
to be distributed to pay debt service, there is some other part
that continues to be received into frozen accounts; as a
consequence, this is not available to make any debt service
payments.  Given that the legal process against Metrofinanciera
still continues and the uncertainty of how long the process will
take, it is unclear when these monies will be released and
distributed.  S&P will evaluate the possible negative impact on
the credit enhancement levels of the transactions and the
underlying portfolios' performance, and if this surpasses S&P's
projections, it may lower its ratings.

Additionally, Metrofinanciera and the trustees have started
processes in order that borrowers deposit their payments directly
into the trusts' accounts to mitigate the risk of having
collections deposited in frozen accounts; however, this process
has yet to be completed.

          STANDARD & POOR'S 17G-7 DISCLOSURE REPORT

SEC Rule 17g-7 requires an NRSRO, for any report accompanying a
credit rating relating to an asset-backed security as defined in
the Rule, to include a description of the representations,
warranties, and enforcement mechanisms available to investors and
a description of how they differ from the representations,
warranties, and enforcement mechanisms in issuances of
similar securities.  The Rule applies to in-scope securities
initially rated (including preliminary ratings) on or after
Sept. 26, 2011.

If applicable, the Standard & Poor's 17g-7 Disclosure Report
included in this credit rating report is available at:

            http://standardandpoorsdisclosure-17g7.com

RATINGS REMAINING ON CREDITWATCH NEGATIVE

Metrofinanciera - Bursatilizaciones de Hipotecas Residenciales

Series       Maturity       Rating

METROCB 04U  11/11/2033     mxAA (sf)/Watch Neg
METROCB 05U  2/20/2034      mxA+ (sf)/Watch Neg
MFCB 05U     10/24/2033     mxBBB+ (sf)/Watch Neg
METROCB 06U  11/14/2033     mxB- (sf)/Watch Neg

Metrofinanciera - Bursatilizaciones de Hipotecas Residenciales II

Series       Maturity       Rating

MTROCB 07U   12/1/2033      CCC (sf)/Watch Neg
MTROCB 07U   12/1/2033      mxB- (sf)/Watch Neg
MTROCB 08U   4/1/2033       CCC+ (sf)/Watch Neg
MTROCB 08U   4/1/2033       mxB (sf)/Watch Neg
MTROFCB 08   6/1/2039       mxAA (sf)/Watch Neg


* MEXICO: Offers Credit for Homebuilders Battered by Policy Shift
-----------------------------------------------------------------
Jonathan Levin at Bloomberg News reports that Mexico's government
promised to help increase lending to homebuilders to sustain
construction as the industry's biggest companies reduce output and
move to restructure debt.

Deputy Finance Minister Fernando Aportela said development banks
will provide at least MXN5 billion ($387 million) of eight-year
syndicated credit lines, according Bloomberg News.

Bloomberg News relates that the lines, issued through Sociedad
Hipotecaria Federal and Nacional Financiera, will produce about
50,000 homes, Mr. Aportela told reporters in Mexico City on June
28.

Bloomberg News notes that the government will also offer
guarantees for bond sales of about MXN5 billion so that issuances
can receive higher credit ratings and attract investors such as
pension funds and insurance companies, Mr. Aportela said.

Bloomberg New says that the measures are part of the government's
plan to arrest urban sprawl without prompting further contraction
in the homebuilding industry or impeding efforts to address a
housing shortage.

While the strategy pushes development toward urban areas, it also
provides some concessions to help builders adapt to a shift in
subsidies that's reduced demand for outlying communities, where
the biggest companies have accumulated land, Bloomberg New
discloses.

Bloomberg New relates that Desarrolladora Homex SAB, Corp. Geo SAB
and Urbi Desarrollos Urbanos SAB, Mexico's three biggest publicly
traded homebuilders, are scaling back construction and considering
restructuring debt after cash plummeted this year, partly due to
the government's emphasis on urban development.  The policy shift
follows a wave of home abandonment in the subsidized communities
as Mexicans reject multiple-hour commutes to work and return to
city living, even if it means bunking with friends or relatives,
Bloomberg New relays.

                               Cash Slump

Bloomberg News says that the cash slump of the industry's biggest
companies has "reduced the appetite of some financial
intermediaries for financing the sector," Mr. Aportela said.
"We're using the development-bank products to supplement that
appetite," he added.

Bloomberg New notes that the banks plan to start disbursing funds
from the syndicated credit line "over the next few weeks" and the
bond-backing program should be ready in about two months, Luis
Madrazo, head of the development-banking unit at the Finance
Ministry, said June 28 in a separate conference call with
investors.  Most of the rest of the government's housing-strategy
changes will go into effect in January 2014.

Bloomberg New relays that some companies have been left with
reserves of rural terrain, intended for the creation of commuter
towns with homes often worth around $20,000, as the government
insists its subsidies must focus on urban development in areas
with pricier land.

Bloomberg News discloses that Homex, Geo and Urbi all saw cash
balances drop at least 85 percent in the first quarter.  All three
have been downgraded by ratings agencies after they missed
interest payments on bonds, Bloomberg New adds.

                          Increasing Subsidies

Bloomberg New notes that the government is also increasing
subsidies this year by 26 percent as an additional boost to the
industry, said Jorge Carlos Ramirez Marin, minister of urban and
agrarian territorial development, who spoke at the press
conference.

Bloomberg New discloses that Mr. Martin said that while the
government mostly maintained its definition of city limits, it
created a path to subsidy eligibility for outlying neighborhoods
already under development.   It also tweaked some criteria that
the government said will allow for greater subsidy disbursement
per applicant, while at the same time ensuring higher-quality
homes, Bloomberg News notes.

                               Point System

Bloomberg News relays that the subsidy program uses a point system
to determine whether a property can be purchased with federal
help.  The 0-1,000 grading scale accounts for quality of location,
population density, proximity to jobs and availability of
services, Bloomberg New discloses.

Bloomberg News, citing, a document distributed at the press
conference, relates that Mexico's housing shortage, combined with
demographic growth, means Latin America's second-biggest economy
needs 300,000 to 400,000 new homes a year.  As of 2015,
developments' location and proximity to jobs and services will
also determine whether home buyers can get credit from state-
backed mortgage lenders to buy property, the ministry said, with
far-away homes less likely to qualify for loans, Bloomberg News
notes.

Bloomberg News adds that the government estimates that 68 percent
of companies' registered land reserves will be eligible for
subsidies under the new classification system.


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


LAUSELL INC: Plan Outline Hearing Moved Earlier to July 17
----------------------------------------------------------
The hearing on the approval of the Disclosure Statement explaining
the Plan of Lausell Inc. has been rescheduled to July 17, 2013, at
9:00 a.m. from the earlier set date of August 7, 2013.

Objections to the Disclosure Statement should be in writing and
served on the parties-in-interest no less than 14 days before the
July 17 hearing.

As reported in the June 19, 2013 edition of The Troubled Company
Reporter, the Disclosure Statement relates that holders of allowed
general unsecured claims (Class 6) in Lausell Inc. 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

                        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.


LAUSELL INC: Cash Collateral Access Extended Thru July 31
---------------------------------------------------------
Lausell Inc. and its lenders, Firstbank Puerto Rico, and Citibank
N.A., sought and obtained bankruptcy court approval of a
stipulation for an extended cash collateral access for the Debtor
through July 31, 2013.

The total authorized use of Cash Collateral is $3,571,347.

As adequate protection, the Banks are granted a replacement lien
and a post-petition security interest on all of the assets and
collateral acquired by the Debtor on or after the Petition Date.

As additional adequate protection, the Banks are granted a super-
priority claim in an amount equal to any diminution in value of
their prepetition collateral.

The Debtor and its affiliate La-Re 2, LLC have requested and
reportedly obtained postpetition financing from Economic
Development Bank in order to pay off the Loans with the Banks, in
a DPO transaction for the reduced amount of $5.6 million.  The
Banks stipulate to allow the Debtor and La-Re the time to finalize
its loan application process with EDB.

Firstbank is represented by Rafael A. Gonzalez Valiente, Esq., of
LATIMER, BIAGGI, RACHID & GODREAU, in San Juan, Puerto Rico.

Citibank N.A. is represented by Jose F. Cardona Jimenez, Esq., of
CARDONA JIMENEZ LAW OFFICE, in San Juan, Puerto Rico.

                        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.


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


* TRINIDAD AND TOBAGO: Inflation Rate Decreased in May
------------------------------------------------------
Trinidad Express reports that the Retail Price Index for the month
of May 2013 released by the Central Statistical Office (CSO),
Ministry of Planning and Sustainable Development indicated that
headline inflation was 5.6 per cent for the period May 2013/May
2012.

This represented a decrease from 12.6 per cent for the comparative
period May 2012/May 2011, the ministry said in a statement July 4,
according to Trinidad Express.

The report notes that food price inflation for the period May
2013/May 2012 was 9.6 per cent.  This was in main part due to
increases in the prices of ochroes, chive, thyme, limes, dasheen,
celery, melongene, christophene, irish potatoes, whole chickens
and mangoes, Trinidad Express relates.   With regard to the Index
for Food and Non Alcoholic Beverages, there was a 1.0 per cent
increase in prices for the period April to May 2013, the report
says.

The report relates that this was in main part due to increases in
the price of limes, chives, thyme, tomatoes, melongenes, sweet
potatoes, christophenes, cucumbers, dasheen, Irish potatoes and
green pigeon peas.

The report says that however, the full impact of these price
increases was offset by the general decrease in prices of hot
peppers, celery, oranges, pawpaw, ochroes, avocado, carite,
cavalli, mangoes and bodi.

The report notes that core inflation which filters out the impact
of food prices was 2.4 per cent for the period May 2013/May 2012,
which reflects an increase of 0.2 per cent over the period May
2012/May 2011.

Trinidad Express discloses that this increase was due in main part
to increases in Miscellaneous Goods and Services (6.5 per cent),
Health (5.3 per cent), Education (5.2 per cent), Hotels, Alcoholic
Beverages and Tobacco (4.8 per cent), Hotels, Cafes and
Restaurants (4.3 per cent), Recreation and Culture (3.0 per cent)
and Transport (2.3 per cent).


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


* Large Companies With Insolvent Balance Sheets
-----------------------------------------------


                                                      Total
                                      Total        Shareholders
                                      Assets          Equity
Company                Ticker        (US$MM)        (US$MM)
-------                ------       ---------      ------------
FABRICA TECID-RT        FTRX1 BZ       66603693.6    -76419244.2
TEKA-ADR                TEKAY US       407967021     -392649052
BOMBRIL                 BMBBF US       359985634    -12154088.6
TEKA                    TKTQF US       407967021     -392649052
TEKA-PREF               TKTPF US       407967021     -392649052
SNIAFA SA-B             SDAGF US       11229696.2    -2670544.88
PUYEHUE RIGHT           PUYEHUOS CI    25722049      -4310587.75
VULCABRAS-RIGHT         VULC1 BZ       656823700    -17327661.6
VULCABRAS-RIGHT         VULC2 BZ       656823700    -17327661.6
VULCABRAS-RECEIP        VULC9 BZ       656823700    -17327661.6
VULCABRAS-REC PR        VULC10 BZ      656823700    -17327661.6
BATTISTELLA-RIGH        BTTL1 BZ       158330518    -36518145.6
BATTISTELLA-RI P        BTTL2 BZ       158330518    -36518145.6
BATTISTELLA-RECE        BTTL9 BZ       158330518    -36518145.6
BATTISTELLA-RECP        BTTL10 BZ      158330518    -36518145.6
AGRENCO LTD-BDR         AGEN11 BZ      325151004     -611658179
REII INC                REIC US        14423532       -3506007
PET MANG-RIGHTS         3678565Q BZ    246810937     -224879124
PET MANG-RIGHTS         3678569Q BZ    246810937     -224879124
PET MANG-RECEIPT        0229292Q BZ    246810937     -224879124
PET MANG-RECEIPT        0229296Q BZ    246810937     -224879124
CENTRAL COSTAN-B        CRCBF US       355868838    -87473853.3
LUPATECH SA             LUPA3 BZ       754879275     -127862714
REDE EMP ENE ELE        ELCA4 BZ       1164635971      -23251158
REDE EMP ENE ELE        ELCA3 BZ       1164635971      -23251158
BOMBRIL HOLDING         FPXE3 BZ       19416015.8     -489914902
BOMBRIL                 FPXE4 BZ       19416015.8     -489914902
SANESALTO               SNST3 BZ       24630103.9    -10366431.8
B&D FOOD CORP           BDFCE US       14423532       -3506007
BOMBRIL-RGTS PRE        BOBR2 BZ       359985634    -12154088.6
BOMBRIL-RIGHTS          BOBR1 BZ       359985634    -12154088.6
LAEP-BDR                MILK11 BZ      222902263     -255311019
AGRENCO LTD             AGRE LX        325151004     -611658179
LAEP INVESTMENTS        LEAP LX        222902263     -255311019
LUPATECH SA             LUPAF US       754879275     -127862714
REDE ENERG-UNIT         REDE11 BZ      1164635971      -23251158
CELGPAR                 GPAR3 BZ       2657428496     -817505840
RECRUSUL - RT           4529781Q BZ    48003655.5    -18502124.9
RECRUSUL - RT           4529785Q BZ    48003655.5    -18502124.9
RECRUSUL - RCT          4529789Q BZ    48003655.5    -18502124.9
RECRUSUL - RCT          4529793Q BZ    48003655.5    -18502124.9
REDE ENER-RT            3907727Q BZ    1164635971      -23251158
REDE ENER-RCT           3907731Q BZ    1164635971      -23251158
RECRUSUL-BON RT         RCSL11 BZ      48003655.5    -18502124.9
RECRUSUL-BON RT         RCSL12 BZ      48003655.5    -18502124.9
BALADARE                BLDR3 BZ       159454016    -52992212.8
TEXTEIS RENAU-RT        TXRX1 BZ       97868151.6    -91899413.1
TEXTEIS RENAU-RT        TXRX2 BZ       97868151.6    -91899413.1
TEXTEIS RENA-RCT        TXRX9 BZ       97868151.6    -91899413.1
TEXTEIS RENA-RCT        TXRX10 BZ      97868151.6    -91899413.1
CIA PETROLIF-PRF        MRLM4 BZ       377602195    -3014291.72
CIA PETROLIFERA         MRLM3 BZ       377602195    -3014291.72
NOVA AMERICA SA         NOVA3 BZ       21287489     -183535527
NOVA AMERICA-PRF        NOVA4 BZ       21287489     -183535527
LUPATECH SA-RT          LUPA11 BZ      754879275     -127862714
ALL ORE MINERACA        AORE3 BZ       18737017.6    -11880129.6
B&D FOOD CORP           BDFC US        14423532       -3506007
LUPATECH SA-ADR         LUPAY US       754879275     -127862714
PET MANG-RT             4115360Q BZ    246810937     -224879124
PET MANG-RT             4115364Q BZ    246810937     -224879124
REDE ENER-RT            REDE1 BZ       1164635971      -23251158
REDE ENER-RCT           REDE9 BZ       1164635971      -23251158
REDE ENER-RT            REDE2 BZ       1164635971      -23251158
REDE ENER-RCT           REDE10 BZ      1164635971      -23251158
STEEL - RT              STLB1 BZ       18737017.6    -11880129.6
STEEL - RCT ORD         STLB9 BZ       18737017.6    -11880129.6
MINUPAR-RT              9314542Q BZ    136398462    -91947867.2
MINUPAR-RCT             9314634Q BZ    136398462    -91947867.2
PET MANG-RT             0229249Q BZ    246810937     -224879124
PET MANG-RT             0229268Q BZ    246810937     -224879124
RECRUSUL - RT           0163579D BZ    48003655.5    -18502124.9
RECRUSUL - RT           0163580D BZ    48003655.5    -18502124.9
RECRUSUL - RCT          0163582D BZ    48003655.5    -18502124.9
RECRUSUL - RCT          0163583D BZ    48003655.5    -18502124.9
PORTX OPERA-GDR         PXTPY US       976769403    -9407990.35
PORTX OPERACOES         PRTX3 BZ       976769403    -9407990.35
ALL ORE MINERACA        STLB3 BZ       18737017.6    -11880129.6
MINUPAR-RT              0599562D BZ    136398462    -91947867.2
MINUPAR-RCT             0599564D BZ    136398462    -91947867.2
PET MANG-RT             RPMG2 BZ       246810937     -224879124
PET MANG-RT             RPMG1 BZ       246810937     -224879124
PET MANG-RECEIPT        RPMG9 BZ       246810937     -224879124
PET MANG-RECEIPT        RPMG10 BZ      246810937     -224879124
LAEP INVESTMEN-B        0122427D LX    222902263     -255311019
LAEP INVES-BDR B        0163599D BZ    222902263     -255311019
RECRUSUL - RT           0614673D BZ    48003655.5    -18502124.9
RECRUSUL - RT           0614674D BZ    48003655.5    -18502124.9
RECRUSUL - RCT          0614675D BZ    48003655.5    -18502124.9
RECRUSUL - RCT          0614676D BZ    48003655.5    -18502124.9
TEKA-RTS                TEKA1 BZ       407967021     -392649052
TEKA-RTS                TEKA2 BZ       407967021     -392649052
TEKA-RCT                TEKA9 BZ       407967021     -392649052
TEKA-RCT                TEKA10 BZ      407967021     -392649052
LUPATECH SA-RTS         LUPA1 BZ       754879275     -127862714
LUPATECH SA -RCT        LUPA9 BZ       754879275     -127862714
MINUPAR-RTS             MNPR1 BZ       136398462    -91947867.2
MINUPAR-RCT             MNPR9 BZ       136398462    -91947867.2
RECRUSUL SA-RTS         RCSL1 BZ       48003655.5    -18502124.9
RECRUSUL SA-RTS         RCSL2 BZ       48003655.5    -18502124.9
RECRUSUL SA-RCT         RCSL9 BZ       48003655.5    -18502124.9
RECRUSUL - RCT          RCSL10 BZ      48003655.5    -18502124.9
ENDESA COSTAN-A         CECO1 AR       355868838    -87473853.3
ENDESA COSTAN-          CECO2 AR       355868838    -87473853.3
CENTRAL COST-BLK        CECOB AR       355868838    -87473853.3
ENDESA COSTAN-          CECOD AR       355868838    -87473853.3
ENDESA COSTAN-          CECOC AR       355868838    -87473853.3
ENDESA COSTAN-          EDCFF US       355868838    -87473853.3
CENTRAL COSTAN-C        CECO3 AR       355868838    -87473853.3
CENTRAL COST-ADR        CCSA LI        355868838    -87473853.3
ENDESA COST-ADR         CRCNY US       355868838    -87473853.3
CENTRAL COSTAN-B        CNRBF US       355868838    -87473853.3
ARTHUR LANGE            ARLA3 BZ       11642255.9    -17154461.9
ARTHUR LANGE SA         ALICON BZ      11642255.9    -17154461.9
ARTHUR LANGE-PRF        ARLA4 BZ       11642255.9    -17154461.9
ARTHUR LANGE-PRF        ALICPN BZ      11642255.9    -17154461.9
ARTHUR LANG-RT C        ARLA1 BZ       11642255.9    -17154461.9
ARTHUR LANG-RT P        ARLA2 BZ       11642255.9    -17154461.9
ARTHUR LANG-RC C        ARLA9 BZ       11642255.9    -17154461.9
ARTHUR LANG-RC P        ARLA10 BZ      11642255.9    -17154461.9
ARTHUR LAN-DVD C        ARLA11 BZ      11642255.9    -17154461.9
ARTHUR LAN-DVD P        ARLA12 BZ      11642255.9    -17154461.9
BOMBRIL                 BOBR3 BZ       359985634    -12154088.6
BOMBRIL CIRIO SA        BOBRON BZ      359985634    -12154088.6
BOMBRIL-PREF            BOBR4 BZ       359985634    -12154088.6
BOMBRIL CIRIO-PF        BOBRPN BZ      359985634    -12154088.6
BOMBRIL SA-ADR          BMBPY US       359985634    -12154088.6
BOMBRIL SA-ADR          BMBBY US       359985634    -12154088.6
BUETTNER                BUET3 BZ       109743344    -29812083.5
BUETTNER SA             BUETON BZ      109743344    -29812083.5
BUETTNER-PREF           BUET4 BZ       109743344    -29812083.5
BUETTNER SA-PRF         BUETPN BZ      109743344    -29812083.5
BUETTNER SA-RTS         BUET1 BZ       109743344    -29812083.5
BUETTNER SA-RT P        BUET2 BZ       109743344    -29812083.5
CAF BRASILIA            CAFE3 BZ       160938140     -149281089
CAFE BRASILIA SA        CSBRON BZ      160938140     -149281089
CAF BRASILIA-PRF        CAFE4 BZ       160938140     -149281089
CAFE BRASILIA-PR        CSBRPN BZ      160938140     -149281089
REDE ENERGIA SA         REDE3 BZ       1164635971      -23251158
CAIUA SA                ELCON BZ       1164635971      -23251158
REDE EMPRESAS-PR        REDE4 BZ       1164635971      -23251158
CAIUA SA-PREF           ELCPN BZ       1164635971      -23251158
CAIUA SA-PRF B          ELCA6 BZ       1164635971      -23251158
CAIUA SA-PRF B          ELCBN BZ       1164635971      -23251158
CAIUA SA-RTS            ELCA2 BZ       1164635971      -23251158
CAIUA SA-DVD CMN        ELCA11 BZ      1164635971      -23251158
CAIUA SA-RCT PRF        ELCA10 BZ      1164635971      -23251158
CAIUA SA-DVD COM        ELCA12 BZ      1164635971      -23251158
CAIUA ELEC-C RT         ELCA1 BZ       1164635971      -23251158
CAIUA SA-PRF A          ELCAN BZ       1164635971      -23251158
CAIUA SA-PRF A          ELCA5 BZ       1164635971      -23251158
CAIVA SERV DE EL        1315Z BZ       1164635971      -23251158
CHIARELLI SA            CCHI3 BZ       10063296.6      -79357620
CHIARELLI SA            CCHON BZ       10063296.6      -79357620
CHIARELLI SA-PRF        CCHI4 BZ       10063296.6      -79357620
CHIARELLI SA-PRF        CCHPN BZ       10063296.6      -79357620
IGUACU CAFE             IGUA3 BZ       241713948    -76084456.4
IGUACU CAFE             IGCSON BZ      241713948    -76084456.4
IGUACU CAFE             IGUCF US       241713948    -76084456.4
IGUACU CAFE-PR A        IGUA5 BZ       241713948    -76084456.4
IGUACU CAFE-PR A        IGCSAN BZ      241713948    -76084456.4
IGUACU CAFE-PR A        IGUAF US       241713948    -76084456.4
IGUACU CAFE-PR B        IGUA6 BZ       241713948    -76084456.4
IGUACU CAFE-PR B        IGCSBN BZ      241713948    -76084456.4
SCHLOSSER               SCLO3 BZ       57116502.2    -55719508.9
SCHLOSSER SA            SCHON BZ       57116502.2    -55719508.9
SCHLOSSER-PREF          SCLO4 BZ       57116502.2    -55719508.9
SCHLOSSER SA-PRF        SCHPN BZ       57116502.2    -55719508.9
COBRASMA                CBMA3 BZ       83714759.4    -2293331419
COBRASMA SA             COBRON BZ      83714759.4    -2293331419
COBRASMA-PREF           CBMA4 BZ       83714759.4    -2293331419
COBRASMA SA-PREF        COBRPN BZ      83714759.4    -2293331419
D H B                   DHBI3 BZ       115744688     -149168651
DHB IND E COM           DHBON BZ       115744688     -149168651
D H B-PREF              DHBI4 BZ       115744688     -149168651
DHB IND E COM-PR        DHBPN BZ       115744688     -149168651
DOCA INVESTIMENT        DOCA3 BZ       273120342     -211736207
DOCAS SA                DOCAON BZ      273120342     -211736207
DOCA INVESTI-PFD        DOCA4 BZ       273120342     -211736207
DOCAS SA-PREF           DOCAPN BZ      273120342     -211736207
DOCAS SA-RTS PRF        DOCA2 BZ       273120342     -211736207
FABRICA RENAUX          FTRX3 BZ       66603693.6    -76419244.2
FABRICA RENAUX          FRNXON BZ      66603693.6    -76419244.2
FABRICA RENAUX-P        FTRX4 BZ       66603693.6    -76419244.2
FABRICA RENAUX-P        FRNXPN BZ      66603693.6    -76419244.2
HAGA                    HAGA3 BZ       19421487.9    -46077943.1
FERRAGENS HAGA          HAGAON BZ      19421487.9    -46077943.1
FER HAGA-PREF           HAGA4 BZ       19421487.9    -46077943.1
FERRAGENS HAGA-P        HAGAPN BZ      19421487.9    -46077943.1
CIMOB PARTIC SA         GAFP3 BZ       44047411.7    -45669963.6
CIMOB PARTIC SA         GAFON BZ       44047411.7    -45669963.6
CIMOB PART-PREF         GAFP4 BZ       44047411.7    -45669963.6
CIMOB PART-PREF         GAFPN BZ       44047411.7    -45669963.6
IGB ELETRONICA          IGBR3 BZ       363687063    -27195507.3
GRADIENTE ELETR         IGBON BZ       363687063    -27195507.3
GRADIENTE-PREF A        IGBR5 BZ       363687063    -27195507.3
GRADIENTE EL-PRA        IGBAN BZ       363687063    -27195507.3
GRADIENTE-PREF B        IGBR6 BZ       363687063    -27195507.3
GRADIENTE EL-PRB        IGBBN BZ       363687063    -27195507.3
GRADIENTE-PREF C        IGBR7 BZ       363687063    -27195507.3
GRADIENTE EL-PRC        IGBCN BZ       363687063    -27195507.3
HOTEIS OTHON SA         HOOT3 BZ       253308748    -83119368.3
HOTEIS OTHON SA         HOTHON BZ      253308748    -83119368.3
HOTEIS OTHON-PRF        HOOT4 BZ       253308748    -83119368.3
HOTEIS OTHON-PRF        HOTHPN BZ      253308748    -83119368.3
RENAUXVIEW SA           TXRX3 BZ       97868151.6    -91899413.1
TEXTEIS RENAUX          RENXON BZ      97868151.6    -91899413.1
RENAUXVIEW SA-PF        TXRX4 BZ       97868151.6    -91899413.1
TEXTEIS RENAUX          RENXPN BZ      97868151.6    -91899413.1
PARMALAT                LCSA3 BZ       388720096     -213641152
PARMALAT BRASIL         LCSAON BZ      388720096     -213641152
PADMA INDUSTRIA         LCSA4 BZ       388720096     -213641152
PARMALAT BRAS-PF        LCSAPN BZ      388720096     -213641152
PARMALAT BR-RT C        LCSA5 BZ       388720096     -213641152
PARMALAT BR-RT P        LCSA6 BZ       388720096     -213641152
ESTRELA SA              ESTR3 BZ       72008697.6     -116219949
ESTRELA SA              ESTRON BZ      72008697.6     -116219949
ESTRELA SA-PREF         ESTR4 BZ       72008697.6     -116219949
ESTRELA SA-PREF         ESTRPN BZ      72008697.6     -116219949
WETZEL SA               MWET3 BZ       102020563    -6073582.74
WETZEL SA               MWELON BZ      102020563    -6073582.74
WETZEL SA-PREF          MWET4 BZ       102020563    -6073582.74
WETZEL SA-PREF          MWELPN BZ      102020563    -6073582.74
MINUPAR                 MNPR3 BZ       136398462    -91947867.2
MINUPAR SA              MNPRON BZ      136398462    -91947867.2
MINUPAR-PREF            MNPR4 BZ       136398462    -91947867.2
MINUPAR SA-PREF         MNPRPN BZ      136398462    -91947867.2
NORDON MET              NORD3 BZ       12386508.7    -33450200.1
NORDON METAL            NORDON BZ      12386508.7    -33450200.1
NORDON MET-RTS          NORD1 BZ       12386508.7    -33450200.1
NOVA AMERICA SA         NOVA3B BZ      21287489     -183535527
NOVA AMERICA SA         NOVAON BZ      21287489     -183535527
NOVA AMERICA-PRF        NOVA4B BZ      21287489     -183535527
NOVA AMERICA-PRF        NOVAPN BZ      21287489     -183535527
NOVA AMERICA-PRF        1NOVPN BZ      21287489     -183535527
NOVA AMERICA SA         1NOVON BZ      21287489     -183535527
RECRUSUL                RCSL3 BZ       48003655.5    -18502124.9
RECRUSUL SA             RESLON BZ      48003655.5    -18502124.9
RECRUSUL-PREF           RCSL4 BZ       48003655.5    -18502124.9
RECRUSUL SA-PREF        RESLPN BZ      48003655.5    -18502124.9
PETRO MANGUINHOS        RPMG3 BZ       246810937     -224879124
PETRO MANGUINHOS        MANGON BZ      246810937     -224879124
PET MANGUINH-PRF        RPMG4 BZ       246810937     -224879124
PETRO MANGUIN-PF        MANGPN BZ      246810937     -224879124
RIMET                   REEM3 BZ       103098361     -185417655
RIMET                   REEMON BZ      103098361     -185417655
RIMET-PREF              REEM4 BZ       103098361     -185417655
RIMET-PREF              REEMPN BZ      103098361     -185417655
SANSUY                  SNSY3 BZ       192536335     -145445052
SANSUY SA               SNSYON BZ      192536335     -145445052
SANSUY-PREF A           SNSY5 BZ       192536335     -145445052
SANSUY SA-PREF A        SNSYAN BZ      192536335     -145445052
SANSUY-PREF B           SNSY6 BZ       192536335     -145445052
SANSUY SA-PREF B        SNSYBN BZ      192536335     -145445052
SNIAFA SA               SNIA AR        11229696.2    -2670544.88
SNIAFA SA-B             SNIA5 AR       11229696.2    -2670544.88
BOTUCATU TEXTIL         STRP3 BZ       27663604.9    -7174512.03
STAROUP SA              STARON BZ      27663604.9    -7174512.03
BOTUCATU-PREF           STRP4 BZ       27663604.9    -7174512.03
STAROUP SA-PREF         STARPN BZ      27663604.9    -7174512.03
TEKA                    TEKA3 BZ       407967021     -392649052
TEKA                    TEKAON BZ      407967021     -392649052
TEKA-PREF               TEKA4 BZ       407967021     -392649052
TEKA-PREF               TEKAPN BZ      407967021     -392649052
TEKA-ADR                TKTPY US       407967021     -392649052
TEKA-ADR                TKTQY US       407967021     -392649052
F GUIMARAES             FGUI3 BZ       11016542.1     -151840377
FERREIRA GUIMARA        FGUION BZ      11016542.1     -151840377
F GUIMARAES-PREF        FGUI4 BZ       11016542.1     -151840377
FERREIRA GUIM-PR        FGUIPN BZ      11016542.1     -151840377
VARIG SA                VAGV3 BZ       966298048    -4695211008
VARIG SA                VARGON BZ      966298048    -4695211008
VARIG SA-PREF           VAGV4 BZ       966298048    -4695211008
VARIG SA-PREF           VARGPN BZ      966298048    -4695211008
VULCABRAS AZALEI        VULC3 BZ       656823700    -17327661.6
VULCABRAS SA            VULCON BZ      656823700    -17327661.6
VULCABRAS AZ-PRF        VULC4 BZ       656823700    -17327661.6
VULCABRAS SA-PRF        VULCPN BZ      656823700    -17327661.6
VULCABRAS-RT PRF        VULC11 BZ      656823700    -17327661.6
LOJAS ARAPUA            LOAR3 BZ       60020270.1    -3542047972
LOJAS ARAPUA            LOARON BZ      60020270.1    -3542047972
LOJAS ARAPUA-PRF        LOAR4 BZ       60020270.1    -3542047972
LOJAS ARAPUA-PRF        LOARPN BZ      60020270.1    -3542047972
LOJAS ARAPUA-PRF        52353Z US      60020270.1    -3542047972
LOJAS ARAPUA-GDR        3429T US       60020270.1    -3542047972
LOJAS ARAPUA-GDR        LJPSF US       60020270.1    -3542047972
BATTISTELLA             BTTL3 BZ       158330518    -36518145.6
BATTISTELLA-PREF        BTTL4 BZ       158330518    -36518145.6
SAUIPE SA               PSEGON BZ      23615862    -840174.001
SAUIPE                  PSEG3 BZ       23615862    -840174.001
SAUIPE SA-PREF          PSEGPN BZ      23615862    -840174.001
SAUIPE-PREF             PSEG4 BZ       23615862    -840174.001
CIA PETROLIFERA         MRLM3B BZ      377602195    -3014291.72
CIA PETROLIF-PRF        MRLM4B BZ      377602195    -3014291.72
CIA PETROLIFERA         1CPMON BZ      377602195    -3014291.72
CIA PETROLIF-PRF        1CPMPN BZ      377602195    -3014291.72
LATTENO FOOD COR        LATF US        14423532       -3506007
PUYEHUE                 PUYEH CI       25722049    -4310587.75
IMPSAT FIBER NET        IMPTQ US       535007008      -17164978
IMPSAT FIBER NET        330902Q GR     535007008      -17164978
IMPSAT FIBER NET        XIMPT SM       535007008      -17164978
IMPSAT FIBER-CED        IMPT AR        535007008      -17164978
IMPSAT FIBER-C/E        IMPTC AR       535007008      -17164978
IMPSAT FIBER-$US        IMPTD AR       535007008      -17164978
IMPSAT FIBER-BLK        IMPTB AR       535007008      -17164978
PETROLERA DEL CO        PSUR AR        64304553.9    -1269120.56
VARIG PART EM TR        VPTA3 BZ       49432124.2     -399290396
VARIG PART EM-PR        VPTA4 BZ       49432124.2     -399290396
VARIG PART EM SE        VPSC3 BZ       83017828.6     -495721700
VARIG PART EM-PR        VPSC4 BZ       83017828.6     -495721700




                            ***********


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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