TCRLA_Public/131010.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, October 10, 2013, Vol. 14, No. 201


                            Headlines



A N T I G U A   &   B A R B U D A

* ROBERT ALLEN STANFORD: Court Considers Ending Ponzi Lawsuits


A R G E N T I N A

TRANSPORTADORA DE GAS: Fitch Affirms, Withdraws 'CCC' IDR


B R A Z I L

BANCO DO BRASIL: Plans to Open a Broker-Dealer
GALVAO PARTICIPACOES: Fitch Assigns 'B+' Issuer Default Ratings
OSX BRASIL: Batista Creditors Said to Weigh Seizures


C A Y M A N  I S L A N D S

ADVANTAGE ADVISERS: Creditors' Proofs of Debt Due Nov. 6
CALYPSO FUND: Creditors' Proofs of Debt Due Nov. 7
CIBC BRAZIL: Commences Liquidation Proceedings
CITCO (CAYMAN ISLANDS): Creditors' Proofs of Debt Due Oct. 28
COMMON SENSE: Creditors' Proofs of Debt Due Nov. 7

DUNYA HOLDING: Creditors' Proofs of Debt Due Nov. 5
GOLDMAN SACHS: Creditors' Proofs of Debt Due Nov. 7
KAYMAN BEAR: Creditors' Proofs of Debt Due Oct. 28
KAYMAN BEAR: Shareholders' Final Meeting Set for Nov. 29
MAPLE FAMILY: Creditors' Proofs of Debt Due Oct. 28

PHZ GLOBAL: Creditors' Proofs of Debt Due Nov. 6
SEA CDO: Creditors' Proofs of Debt Due Nov. 6
SHINJUKU PORTFOLIO: Creditors' Proofs of Debt Due Nov. 6
STRATEGIC PARTNERS: Creditors' Proofs of Debt Due Nov. 7


C H I L E

AES GENER: BICE Recommends "Buy" on Increased Revenue


D O M I N I C A N   R E P U B L I C

GLENCORE XSTRATA: Execs in Talks With President on Shut Mine


J A M A I C A

* JAMAICA: IMF Makes Downward Revision


P U E R T O   R I C O

JVMW PROPERTIES: Wants Oct. 19 Extension of Plan Filing Deadline


X X X X X X X X X

* Upcoming Meetings, Conferences and Seminars


                            - - - - -


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


* ROBERT ALLEN STANFORD: Court Considers Ending Ponzi Lawsuits
--------------------------------------------------------------
The Jamaica Gleaner reports that the U.S. Supreme Court is
considering shutting down class-action lawsuits from investors who
lost billions in former Texas tycoon Robert Allen Stanford's
massive Ponzi scheme.

Justices listened to lawyers argue over whether lawsuit should
proceed against individuals, law firms and investment companies
that allegedly aided Mr. Stanford's fraud, according to Jamaica
Gleaner.

Mr. Stanford was sent to prison after being convicted of what
prosecutors termed a US$7.2 billion Ponzi, or pyramid, scheme on
investors, the report notes.

The report relates that a lawyer for the defendants in the class-
action suits said the lawsuits are blocked by the federal
Securities Litigation Uniform Standards Act.  However, others
argue the investment scheme is not covered by the law because the
main part of the fraud involved certificates of deposit, not
stocks and other securities, says the report.

Justices will make a ruling sometime next year, says the Gleaner
report.


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


TRANSPORTADORA DE GAS: Fitch Affirms, Withdraws 'CCC' IDR
---------------------------------------------------------
Fitch Ratings has affirmed and simultaneously withdrawn
Transportadora de Gas del Norte S.A.'s (TGN) 'CCC' foreign and
local currency Issuer Default Ratings (IDRs). Fitch has also
affirmed and withdrawn the 'CCC' rating on TGN's notes due 2019.

Fitch will continue to rate TGN and all its local debt issuances
on a national rating scale. The company's national long-term and
equity ratings of 'CCC(arg)' and 'Nivel 4(arg)', respectively, are
unaffected by this rating action.


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


BANCO DO BRASIL: Plans to Open a Broker-Dealer
----------------------------------------------
Cristiane Lucchesi at Bloomberg News reports that Banco do Brasil
SA plans to open a broker-dealer to boost its equity-underwriting
business in Brazil.

"We plan to be the biggest bank in the Brazilian capital markets
as soon as possible. . . . We plan to offer all types of
investment-banking services to our clients and will invest to do
so," Paulo Rogerio Caffarelli, the firm's vice-president for
wholesale banking, told Bloomberg News said in a telephone
interview.

Owning a broker-dealer would allow the Brasilia-based bank to
expand in the business by allowing it to sell stocks from equity
offerings on its own, rather than relying on third-party broker-
dealers, according to Bloomberg News.

Bloomberg News discloses that Mr. Caffarelli said his company is
planning to open the broker-dealer in partnership with another
firm, which he declined to name.

Bloomberg News relates that Banco do Brasil said in August it
postponed for an unspecified time a proposal to increase its stake
in auto lender Banco Votorantim SA.  Banco do Brasil already holds
49.99 percent of the voting shares and 50 percent of the preferred
shares of Sao Paulo-based Banco Votorantim.

Banco do Brasil's plan was to use Banco Votorantim's local
brokerage to build an investment bank with a more flexible wage
policy than state-controlled companies must follow, two people
familiar with the matter said in January, Bloomberg News relays.

Votorantim Financas SA and Banco do Brasil injected 2 billion
reais ($905 million) into Banco Votorantim last year to reinforce
the lender's capital, Bloomberg news disclosed.

                          *     *     *

As of July 24, 2013, the company continues to hold Fitch's 'bb+'
Viability Rating.


GALVAO PARTICIPACOES: Fitch Assigns 'B+' Issuer Default Ratings
---------------------------------------------------------------
Fitch Ratings has assigned the following ratings to Galvao
Participacoes S.A. (GALPAR) and its fully owned subsidiary Galvao
Engenharia S.A. (GESA):

GALPAR:
-- Local and Foreign Currency Issuer Default Ratings (IDRs) 'B+';
-- Long-term national scale rating 'BBB+(bra)';
-- Long-term national scale rating 'BBB+(bra)' to the proposed
   third issuance of BRL300 million non-convertible secured
   debentures due 2020.

GESA:
-- Long-term national scale rating 'BBB+(bra)'.

The proceeds from the proposed debentures issuance will be used
for amortization of company's first debenture issuance and for
investments in subsidiaries.

The Rating Outlook for the corporate ratings is Stable.

GALPAR and GESA ratings reflect Galvao Group's high consolidated
financial leverage, and GESA's relevant market position as the
sixth largest Brazilian contractor, by gross revenue. Fitch
considers that the group has the challenges to strengthen its
still reduced operating cash generation, present a more robust
liquidity position and lengthen its debt average maturity profile
as a way to improve its financial profile. The increased operating
cash generation will be crucial to mitigate the impact of its high
investment needs over the coming years, mainly in the
water/wastewater segment.

The group's business improved profitability and credit profile
recorded since 2012 was incorporated into the ratings, which had
been impacted by the weak operating results in the engineering and
sanitation segments in 2011. CAB Ambiental S.A. (CAB), the group's
water/wastewater arm, already presented positive EBITDA margins
last year which are expected to gradually increase, given the
strong fundamentals of this industry. The ratings also reflect
GESA's robust backlog, its high client concentration, the
volatility of the heavy construction sector and company's
corporate governance practices still under development.

GALPAR and GESA's national scale ratings are the same, due to the
strong financial and shareholding links between them. GESA is
Galvao group's main operating company and has historically
concentrated the bulk of its cash generation, besides guaranteeing
a significant part of the group's debt.

High Leverage Reduction Remains a Challenge

Galvao Group's financial profile has been pressured by its still
reduced operating cash generation and debt increase in support of
its growth strategy through diversification into new businesses.
The group has recorded a significant increase in its financial
leverage over recent years, with a total debt/EBITDA ratio of 9.2x
and net debt/EBITDA of 5.7x in 2012, well above the 3.4x and 2.3x
recorded in 2010, respectively. Fitch expects the net leverage
ratio to reduce to around 5.0x by end 2013 and to stay between
4.0x and 5.0x until 2015.

The ratings also contemplate a moderate liquidity position. At end
of first half of 2013, Galpar's total consolidated debt was BRL2
billion, while the total cash and marketable securities was BRL524
million and covered 67% of the short-term debt of BRL788 million.
The likely disposal of assets linked to the energy sector is seen
as positive, as this should reduce the leverage and strengthen the
group's liquidity.

Expectation of Continued Recovery of Operating Margins

GESA continues to be Galvao group's main operating and cash
generating company. In the first half of 2013, GESA accounted for
91% of the group's consolidated revenue and for 90% of its
consolidated EBITDA, besides guaranteeing 35% of the group's
consolidated debt. The other subsidiaries are in start-up or pre-
operating phase, therefore with a small contribution or even with
a negative contribution for the consolidated results. The other
subsidiaries are expected to generate relevant positive results
within the next couple of years, mainly the water/wastewater
segment companies.

The construction company showed operating margins more in line
with its business sector over the last four semesters, after the
impacts of work losses which weakened the margins in 2011. GESA
has also been able to manage its working capital needs more
efficiently. The company recorded BRL198 million EBITDA during the
last 12 months (LTM) ended June 30, 2013, with a 5.9% margin,
slightly above the 4.6% margin in 2011. On a consolidated basis,
GALPAR's EBITDA was BRL108 million in the first half of 2013,
which represented a 5.8% margin.

Fitch expects the consolidated EBITDA to reach more robust levels,
mainly driven by the expected maturation of CAB's concession
portfolio. During the LTM ended June 30, 2013, CAB's EBITDA
margin, of 9.3%, was well below the average of private companies
in the same sector. This company has shown a strong growth in net
revenues which reached BRL444 million in the period, as a result
of business expansion, and a BRL41 million EBITDA.

Fitch expects Galvao group's free cash flow (FCF) to remain
negative until 2015 in view of annual capex of around BRL250
million. During the LTM ended June 30, 2013, the cash flow from
operations (CFFO) was BRL187 million, well below the BRL370
million capex, which after dividends of BRL8 million, resulted in
negative FCF of BRL191 million. A continued recovery of business
profitability could mitigate pressures on FCF.

Robust Backlog Ensures Growth

GESA is among the leading contractors in the country and has
maintained a strong backlog. As of June 30, 2013, company's
backlog was BRL6.6 billion, sufficient to cover 2.5 years of
operations. GESA's robust backlog has assured net revenue growth,
which reached BRL3.4 billion during the LTM ended June 30, 2013,
against BRL3 billion in 2012 and BRL2.2 billion in 2011.

The company has been able to reduce its backlog concentration by
capturing new contracts and clients. The still significant 36%
concentration with Petrobras represents a substantial reduction as
compared to the high 58% recorded one year before.

Rating Sensitivities

The ratings could be positively affected by a consistent
strengthening of company's liquidity and leverage reduction on a
consolidated basis, combined with improved operating performance.
Negative rating actions could result from a reduction in company's
liquidity position, weakening of its capital structure, increased
leverage and weakening of operating margins. Any changes to GESA's
ratings could directly impact GALPAR's ratings.


OSX BRASIL: Batista Creditors Said to Weigh Seizures
----------------------------------------------------
Cristiane Lucchesi and Rodrigo Orihuela at Bloomberg News, citing
six people with direct knowledge of the matter, report that OSX
Brasil SA bank creditors are considering taking possession of two
vessels used as collateral on loans to Eike Batista's shipbuilding
company.

Banks are talking to advisers and OSX officials to evaluate
whether they should execute guarantees if the oil-producing sister
company goes into default, which would trigger cross-default
clauses on OSX debt, said the people, asking not to be named as
discussions are private, according to Bloomberg News.  One source,
Bloomberg News notes, said OSX borrowed US$1.27 billion from 12
banks including Banco Santander SA and DVB Group Merchant Bank
(Asia) Ltd. and is still negotiating to avoid filing for
bankruptcy protection.

The people said, notes Bloomberg News, OSX already hired Credit
Suisse Group AG to help sell the OSX-1 and OSX-2 platforms that
guarantee the loans.  Creditors would enter that process as they
seek to avert losses after OGX Petroleo & Gas Participacoes SA
missed a US$45 million Oct. 1 bond payment that puts Eike Batista
on the brink of Latin America's biggest corporate default after
oil deposits he valued at US$1 trillion turned out to be
commercial failures, Bloomberg News relates.

OGX, the centerpiece of Batista's commodities group, is
considering filing for bankruptcy protection by the end this
month, notes the report.

                         Offshore Fields

Bloomberg News relays that OSX's US$500 million of notes due 2015
have slumped 10 cents to a record 73 cents on the dollar in the
past month.

OSX-1 is in OGX's offshore Tubarao Azul field in Brazil, while
OSX-2 is docked in Malaysia, according to Bloomberg ship-tracking
data.  Banks have loans secured by the so-called fiduciary
assignment of the two vessels, sources said, Bloomberg News
discloses.

Bloomberg News relates that DVB led a group of banks and
government agencies -- including units of Credit Agricole SA
(ACA), Eksportfinans ASA, ING Bank NV, Santander and ABN Amro Bank
NV -- in a US$420 million loan for the acquisition and adaptation
of OSX-1.  The loan is booked as BRL676 million on OSX balance
sheet at June 30.

Bloomberg News relays that ING, Banco Itau BBA and Santander led a
US$850 million loan in October 2011 syndicated to HSBC Holdings
Plc (HSBA), Citigroup Inc., ABN Amro, Banco do Brasil SA (BBAS3)
and NIBC Bank NV to build the OSX-2.  The loan is booked as BRL1.4
billion on the company's balance sheet.

                            Total Debt

According to Bloomberg News, OSX's US$500 million international
bond due 2015 is also guaranteed by a vessel, OSX-3, booked as 1.1
billion as of June 30.  OSX's total debt was BRL5.3 billion,
according to its second quarter earnings release.  Government-
owned Caixa Economica Federal has also done two loans of BRL1.1
billion for the shipyard unit, according to the company's earnings
release, Bloomberg News notes.  The loan has a 450 million-real
guarantee from Santander, one source said, Bloomberg News relays.

OSX is negotiating to keep subsidiary OSX Construcao Naval SA,
which holds the loans, out of bankruptcy proceedings to help
garner a better price for the ships, one source said, note the
report.

While that plan would see OSX Estaleiros SA, the other OSX unit,
file for bankruptcy protection, the most likely outcome is that
the OSX parent company seeks protection, one source said,
Bloomberg News adds.

OSX Brasil SA is a shipbuilder controlled by billionaire Eike
Batista.

As reported in the Troubled Company Reporter-Latin America on
June 26, 2013, Reuters said that OSX Brasil denied a report it
failed to make payments on debt held by Spanish infrastructure
group Acciona.  The local Folha da S.Paulo newspaper reported that
Batista's OSX Brasil was struggling to avoid bankruptcy after it
defaulted on some BRL500 million ($222 million) in debt held by
Acciona, according to Reuters.



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


ADVANTAGE ADVISERS: Creditors' Proofs of Debt Due Nov. 6
--------------------------------------------------------
The creditors of Advantage Advisers Whistler International, Ltd.
are required to file their proofs of debt by Nov. 6, 2013, to be
included in the company's dividend distribution.

The company commenced wind-up proceedings on Aug. 26, 2013.

The company's liquidator is:

          Gene Dacosta
          Telephone: (345) 814 7765
          Facsimile: (345) 945 3902
          PO Box 2681 Grand Cayman KY1-1111
          Cayman Islands


CALYPSO FUND: Creditors' Proofs of Debt Due Nov. 7
--------------------------------------------------
The creditors of Calypso Fund are required to file their proofs of
debt by Nov. 7, 2013, to be included in the company's dividend
distribution.

The company commenced liquidation proceedings on Sept. 19, 2013.

The company's liquidator is:

          DMS Corporate Services Ltd
          c/o Nicola Cowan
          Telephone: (345) 946 7665
          Facsimile: (345) 949 2877
          dms House, 2nd Floor
          P.O. Box 1344 Grand Cayman KY1-1108
          Cayman Islands


CIBC BRAZIL: Commences Liquidation Proceedings
----------------------------------------------
On Sept. 10, 2013, the sole shareholder of CIBC Brazil Investments
LDC resolved to voluntarily liquidate 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:

          CIBC Private Equity Management, Inc.
          Kathryn Casparian/Peter Martin
          c/o CIBC World Markets Corp.
          425 Lexington Avenue, 2nd Floor
          New York
          New York 10017
          United States of America
          Telephone: +1 (416) 594 7506
          e-mail: peter.l.martin@cibc.ca


CITCO (CAYMAN ISLANDS): Creditors' Proofs of Debt Due Oct. 28
-------------------------------------------------------------
The creditors of Citco (Cayman Islands) Ltd are required to file
their proofs of debt by Oct. 28, 2013, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on Sept. 16, 2013.

The company's liquidator is:

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


COMMON SENSE: Creditors' Proofs of Debt Due Nov. 7
--------------------------------------------------
The creditors of Common Sense Portable Alpha BPI SPC, Ltd. are
required to file their proofs of debt by Nov. 7, 2013, to be
included in the company's dividend distribution.

The company commenced liquidation proceedings on Sept. 17, 2013.

The company's liquidator is:

          DMS Corporate Services Ltd
          c/o Nicola Cowan
          Telephone: (345) 946 7665
          Facsimile: (345) 949 2877
          dms House, 2nd Floor
          P.O. Box 1344 Grand Cayman KY1-1108
          Cayman Islands


DUNYA HOLDING: Creditors' Proofs of Debt Due Nov. 5
---------------------------------------------------
The creditors of Dunya Holding Ltd. are required to file their
proofs of debt by Nov. 5, 2013, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on July 31, 2013.

The company's liquidators are:

          Ian Goddard
          Michelle McLaughlin
          Fides Limited
          P.O. Box 10338 Grand Cayman KY1-1003
          Cayman Islands
          Telephone: (345) 949 7232


GOLDMAN SACHS: Creditors' Proofs of Debt Due Nov. 7
---------------------------------------------------
The creditors of Goldman Sachs Strategic Europe Partners, Ltd are
required to file their proofs of debt by Nov. 7, 2013, to be
included in the company's dividend distribution.

The company commenced liquidation proceedings on Sept. 17, 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


KAYMAN BEAR: Creditors' Proofs of Debt Due Oct. 28
--------------------------------------------------
The creditors of Kayman Bear Ltd. are required to file their
proofs of debt by Oct. 28, 2013, to be included in the company's
dividend distribution.

The company commenced liquidation proceedings on Sept. 11, 2013.

The company's liquidator is:

          Geoffrey Varga
          Kinetic Partners (Cayman) Limited
          The Harbour Centre, 42 North Church Street
          P.O. Box 10387 Grand Cayman KY1-1004
          Cayman Islands
          Telephone: (345) 623 9904
          Facsimile: (345) 943 9900


KAYMAN BEAR: Shareholders' Final Meeting Set for Nov. 29
--------------------------------------------------------
The shareholders of Kayman Bear Ltd. will hold their final meeting
on Nov. 29, 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:

          Geoffrey Varga
          Kinetic Partners (Cayman) Limited
          The Harbour Centre, 42 North Church Street
          P.O. Box 10387 Grand Cayman KY1-1004
          Cayman Islands
          Telephone: (345) 623 9904
          Facsimile: (345) 943 9900


MAPLE FAMILY: Creditors' Proofs of Debt Due Oct. 28
---------------------------------------------------
The creditors of Maple Family Holdings Limited are required to
file their proofs of debt by Oct. 28, 2013, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on Sept. 13, 2013.

The company's liquidator is:

          Royhaven Secretaries Limited
          c/o Julie Reynolds
          Telephone: +1 (345) 914 1344
          Facsimile: +1 (345) 945 4799
          Coutts & Co (Cayman) Limited
          Coutts House, 1446 West Bay Road
          P.O. Box 707 Grand Cayman KY1-1107
          Cayman Islands


PHZ GLOBAL: Creditors' Proofs of Debt Due Nov. 6
------------------------------------------------
The creditors of PHZ Global Fund Ltd are required to file their
proofs of debt by Nov. 6, 2013, to be included in the company's
dividend distribution.

The company commenced liquidation proceedings on Sept. 16, 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


SEA CDO: Creditors' Proofs of Debt Due Nov. 6
---------------------------------------------
The creditors of Sea CDO Limited are required to file their proofs
of debt by Nov. 6, 2013, to be included in the company's dividend
distribution.

The company commenced liquidation proceedings on Sept. 18, 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


SHINJUKU PORTFOLIO: Creditors' Proofs of Debt Due Nov. 6
--------------------------------------------------------
The creditors of Shinjuku Portfolio Holdings Inc. are required to
file their proofs of debt by Nov. 6, 2013, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on Sept. 16, 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


STRATEGIC PARTNERS: Creditors' Proofs of Debt Due Nov. 7
--------------------------------------------------------
The creditors of The Strategic Partners Fund Inc are required to
file their proofs of debt by Nov. 7, 2013, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on Sept. 12, 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



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C H I L E
=========


AES GENER: BICE Recommends "Buy" on Increased Revenue
-----------------------------------------------------
Eduardo Thomson at Bloomberg News reports that BICE Inversiones
recommended buying the stock of AES Gener SA, citing increased
revenue from new plants.

BICE raised its recommendation from hold as the company spends
US$3.15 billion to add about 1,083 megawatts of new generation
capacity in Chile, according to Bloomberg News.  Analysts Diego
Eguiguren and Agustin Alvarez set a target price of 424 pesos for
the end of 2014, saying revenue from those projects accounts for
33 pesos of that estimate, Bloomberg News relates.

"AES Gener has shown great ability to develop new projects, which
is remarkable in the Chilean electric industry," the analysts
wrote in an e-mailed note to clients, says the report.

                             *     *     *

As reported in the Troubled Company Reporter-Latin America on
Nov. 3, 2010, Moody's Investors Service placed the Baa3 senior
unsecured rating of AES Gener S.A. under review for possible
downgrade.  Concurrently, Moody's affirmed the Ba2 corporate
family rating of AES Chivor & Cia. S.C.A. E.S.P. with a stable
outlook.



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


GLENCORE XSTRATA: Execs in Talks With President on Shut Mine
------------------------------------------------------------
Dominican Today reports that four executives of Glencore Xstrata's
local operation Falcondo, and  Monsenor Noel province (central)
senator Felix Nova, are meeting with president Danilo Medina in
the National Palace, just days after the Canadian miner announced
a halt to nickel extraction.

Executives and legislators told reporters that it was a courtesy
visit, according to Dominican Today.

Dominican Today notes that that the mining company announced the
close of operations, which will lead to hundreds of laid off
workers, just 24 hours after the Chamber of Deputies declared Loma
Miranda a National Part, dashing their hopes to launch their long-
awaited expansion of its mining sites.




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


* JAMAICA: IMF Makes Downward Revision
--------------------------------------
RJR News reports that the International Monetary Fund (IMF) has
made a slight downward revision to what is already expected to be
weak growth in Jamaica this year.

In its World Economic Outlook, the IMF said it expects the
Jamaican economy to grow at a rate of 0.4 percent this year, down
from the previous forecast of 0.5 percent made in April, according
to RJR News.

The report notes that the downward revision comes as major
economies, including China, will be recording slower growth than
previously anticipated and in turn this will have an impact on
commodity prices and exports.

The report relates, however, that Richard Byles, chairman of the
committee monitoring the IMF deal said even with those export
markets shrinking, Jamaica can still find opportunities to export
and grow.

"We have a share of that market, if we become more competitive,
either because we are more productive or because the exchange rate
is more favorable, then we can get a bigger share of that market,
even if that market is not growing," the report quoted Mr. Richard
Byles as saying.

RJR News adds that Mr. Byles also said while Jamaica is on track
to pass the second IMF test for the period which ended
September 30, the shutdown of the U.S. Government could derail
further progress, if this continues for a protracted period.



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


JVMW PROPERTIES: Wants Oct. 19 Extension of Plan Filing Deadline
----------------------------------------------------------------
JVMW Properties Management Corp. asks the U.S. Bankruptcy Court
for the District of Puerto Rico to grant it an extension of 30
days to file the required Disclosure Statement and Plan of
Reorganization, or until Oct. 19, 2013.

The Debtor tells the Court it has obtained a firm commitment from
an undisclosed party who has expressed interest to acquire all of
the company's and two other related entities' assets in exchange
for a lump sum payment to Banco Popular de Puerto Rico.  According
to the Debtor, BPPR is evaluating the proposal.

JVMW says that additional time is needed to review the proposal
and conclude negotiations with BPPR.

                    About JVMW Properties

JVMW Properties Management Corp filed a Chapter 11 petition
(Bankr. D.P.R. Case No. 13-02532) on April 1, 2013.  The petition
was signed by Julio Blanco D'Arcy, as president.  The Debtor
scheduled assets of $15,694,947 and liabilities of $25,782,161.
Wigberto Lugo Mender, Esq., at Lugo Mender Group, LLC represents
the Debtor in its restructuring effort.


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


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

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


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S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter-Latin America is a daily newsletter
co-published by Bankruptcy Creditors' Service, Inc., Fairless
Hills, Pennsylvania, USA, and Beard Group, Inc., Washington, D.C.,
USA, Marites O. Claro, Joy A. Agravante, Rousel Elaine T.
Fernandez, Valerie U. Pascual, Julie Anne L. Toledo, Frauline S.
Abangan, and Peter A. Chapman, Editors.

Copyright 2013.  All rights reserved.  ISSN 1529-2746.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.

Information contained herein is obtained from sources believed to
be reliable, but is not guaranteed.

The TCR Latin America subscription rate is US$775 per half-year,
delivered via e-mail.  Additional e-mail subscriptions for members
of the same firm for the term of the initial subscription or
balance thereof are US$25 each.  For subscription information,
contact Peter A. Chapman at 215-945-7000 or Nina Novak at
202-241-8200.


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