TCRLA_Public/131121.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, November 21, 2013, Vol. 14, No. 231


                            Headlines



A R G E N T I N A

ARGENTINA: Loses Bid for Full Rehearing of Bonds Appeal
EDENOR SA: Incurs Ps. 512.3 Million Net Loss in Third Quarter
* ARGENTINA: Replaces Economy Minister, Central Bank President


B E R M U D A

ENERGY XXI (BERMUDA): Fitch Cuts Issuer Default Rating to 'B'


B R A Z I L

OGX PETROLEO: Petronas Abandons Firm as Martelo Project Backer
OSX BRASIL: BNDES Won't Extend US$228 Million Loan


C A Y M A N  I S L A N D S

CASPIAN CAPITAL: Shareholders' Final Meeting Set for Nov. 27
CENTENNIAL CBO: Commences Liquidation Proceedings
DIAMOND FINANCE: Commences Liquidation Proceedings
FAXTOR HG 2007-1: Commences Liquidation Proceedings
FRANKLIN CLO I: Commences Liquidation Proceedings

HEMISPHERE CDO: Commences Liquidation Proceedings
IRONWOOD LTD: Creditors' Proofs of Debt Due Dec. 3
PEGASUS FUND: Creditors' Proofs of Debt Due Nov. 25
REGAL NATURAL: Creditors' Proofs of Debt Due Dec. 4
SV SPECIAL: Creditors' Proofs of Debt Due Nov. 25

THE INVESTCORP: Creditors' Proofs of Debt Due Dec. 5
VINCENT INVESTMENT: Creditors' Proofs of Debt Due Dec. 1


C O L O M B I A

* COLOMBIA: To Get $20MM IDB Loan to Support Brilla Program


D O M I N I C A N   R E P U B L I C

* DOMINICAN REP: Gets Nearly US$1.5B Foreign Investment in 1stHalf


N I C A R A G U A

* NICARAGUA: To Get $45 Million Package for Electricity Sector


X X X X X X X X X

* Upcoming Meetings, Conferences and Seminars


                            - - - - -


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


ARGENTINA: Loses Bid for Full Rehearing of Bonds Appeal
-------------------------------------------------------
Bob Van Voris at Bloomberg News reports that Argentina lost its
bid for a rehearing of a federal appeals court ruling against it
in litigation over $1.5 billion in the nation's defaulted bonds.

The U.S Court of Appeals for the Second Circuit in Manhattan on
Nov. 18 rejected Argentina's request that a larger panel of
circuit judges reconsider a decision that a three-judge panel
reached in August, according to Bloomberg News.

Bloomberg News relates that the three judges upheld a lower-court
injunction barring Argentina from paying holders of its
restructured debt if it fails to pay a group of investors that
hold defaulted bonds, led by Elliott Management Corp.'s NML
Capital and Aurelius Capital Management LP.

The ruling leaves a possible appeal to the U.S. Supreme Court as
Argentina's last chance at reversing a decision it said threatens
the country with a new default, Bloomberg News notes.  The appeals
court delayed enforcement of the August ruling, allowing Argentina
to continue paying holders of its restructured debt while it seeks
Supreme Court review, Bloomberg News relays.

Argentina in 2001 defaulted on a record $95 billion of foreign
debt.  Holders of more than 90 percent of the bonds agreed to take
new exchange bonds in 2005 and 2010, at a deep discount, Bloomberg
News says.

The court also denied requests by groups holding restructured
bonds to reconsider the case, Bloomberg News adds.

                           Won't Comply

Bloomberg News says that a lawyer for Argentina told the three-
judge panel in February that the country "won't voluntarily
comply" with a ruling forcing it to pay in full the holders of
defaulted bonds.

The decision "further demonstrates that Argentina's arguments that
it cannot keep its promises to U.S. investors and obey lawful
orders of U.S. courts are based on nothing more than unfounded
speculation and hyperbole," Theodore Olson, a lawyer for NML, said
in a statement obtained by Bloomberg News.

The ruling "only reinforces that Argentina's self-serving pleas do
not warrant the Supreme Court's attention," Bloomberg News notes.

The lower court case is NML Capital Ltd. v. Republic of Argentina,
08-cv-06978, U.S. District Court, Southern District of New York
(Manhattan).  The appeal is NML Capital Ltd. v. Republic of
Argentina, 12-00105, U.S. Court of Appeals for the Second Circuit
(New York).


EDENOR SA: Incurs Ps. 512.3 Million Net Loss in Third Quarter
-------------------------------------------------------------
Edenor SA reported that net loss increased Ps. 235.2.million, to a
loss of Ps. 512.3 million in the third quarter of 2013 from a loss
of Ps. 277.1 million in the same period of 2012, mainly due to the
increase in costs, exchange differences of Ps. 80.7 million and
commercial interests accrued to CAMMESA of Ps. 188.6 million
partially offset by Aeseba's Sale Trust repurchase of Edenor Notes
due 2017 and 2022 of Ps. 21.9 million and positive inflow of Ps.
153.5 million in income tax.

The Company's balance sheet at Sept. 30, 2013, showed Ps. 7.46
billion in total assets, Ps. 6.26 billion in total liabilities and
Ps. 1.20 billion in total equity.

The Company's Board of Directors held a meeting on Nov. 6, 2013,
at which the following documents were approved: Condensed
Statement of Financial Position, Condensed Statement of
Comprehensive Income, Condensed Statement of Changes in Equity,
Condensed Statement of Cash Flows, Notes and Exhibits to the
Financial Statements -all of them Separate and Consolidated-,
Informative Summary and the information required by section 68 of
the aforementioned regulations, relating to the nine-month interim
period ended Sept. 30, 2013.

A copy of the Quarterly Report is available for free at:

                        http://is.gd/tNBfqZ

                    Director Accepts Appointment

Edenor received a letter from Mr. Eduardo Endeiza accepting his
appointment as Regular Director to replace Mrs. Patricia Charvay,
who timely tendered her resignation.  Mr. Endeiza was appointed as
Alternate Director by the Ordinary and Extraordinary General
Shareholders' Meeting held on April 25, 2013.

                             About Edenor

Headquartered in Buenos Aires, Argentina, Edenor S.A. (NYSE: EDN;
Buenos Aires Stock Exchange: EDN) is the largest electricity
distribution company in Argentina in terms of number of customers
and electricity sold (both in GWh and Pesos).  Through a
concession, Edenor distributes electricity exclusively to the
northwestern zone of the greater Buenos Aires metropolitan area
and the northern part of the city of Buenos Aires.

Edenor S.A. disclosed a loss of ARS1.01 billion on ARS3.72 billion
of revenue from sales for the year ended Dec. 31, 2012, as
compared with a net loss of ARS291.38 million on ARS2.80 billion
of revenue from sales for the year ended Dec. 31, 2011.


* ARGENTINA: Replaces Economy Minister, Central Bank President
--------------------------------------------------------------
Camila Russo at Bloomberg News reports that Argentine President
Cristina Fernandez de Kirchner changed her Economy Minister and
Central Bank President on her first day back to work following
head surgery on Oct. 8.

Presidential spokesman Alfredo Scoccimarro said Deputy Economy
Minister Axel Kicillof will replace Hernan Lorenzino as minister
while Carlos Fabrega will become the new central bank chief in
place of Mercedes Marco del Pont, according to Bloomberg News. Ms.
Fernandez also named Jorge Capitanich, the governor of Chaco
province, her new Cabinet Chief.

Bloomberg News notes that while Argentina posted 8.3 percent
economic growth in the second quarter from a year earlier, the
nation has an estimated annual inflation rate of about 26 percent
and has lost $11 billion of international reserves this year.

Ms. Fernandez's government has also struggled to close a widening
gap between the official exchange rate of 6 pesos per dollar and a
black market where Argentines pay as much as 9.87 to obtain
foreign currency due to restrictions imposed since her re-election
in 2011, Bloomberg News relates.

Mr. Lorenzino, who had been Economy Minister since 2011, will head
a newly created entity called the Executive Restructuring Unit to
oversee attempts at resolving the nation's legal conflict with
holdout creditors, according to the statement obtained by
Bloomberg News.

Mr. Fabrega was previously head of the state-run bank Banco de la
Nacion Argentina.  Ms. Fernandez also named Carlos Casamiquela as
the new Agriculture Minister.


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


ENERGY XXI (BERMUDA): Fitch Cuts Issuer Default Rating to 'B'
-------------------------------------------------------------
Fitch Ratings has taken the following ratings actions:

Energy XXI (EXXI) Gulf Coast (Delaware):
-- Issuer Default Rating (IDR) affirmed at 'B+';
-- Senior secured revolver affirmed at 'BB+'/RR1;
-- Senior unsecured notes affirmed at 'B+/RR4.

Energy XXI (Bermuda):
-- IDR downgraded to 'B' from 'B+';
-- Convertible perpetual preferreds downgraded to 'CCC+/RR6' from
   'B-/RR6';
-- Convertible notes assigned initial rating of 'B/RR4'(exp).

Approximately $1.67 billion in debt is impacted by rating
decision, excluding issuance. The Outlooks for both Energy XXI
Gulf Coast and Energy XXI Bermuda are Stable.

The senior convertible notes are due Dec. 15, 2018 and may be
optionally redeemed by the purchaser prior to maturity under
certain conditions. The notes are guaranteed only by EXXI Bermuda
and are therefore structurally subordinated to obligations at EXXI
Gulf Coast. Net proceeds from the issuance will be used for
general corporate purposes, which may include working capital,
capital expenditures, or acquisitions. In addition, concurrent
with the offering, the company intends to repurchase up to $100
million in common stock from revolver borrowings.

Key Ratings Drivers:

Energy XXI's ratings are supported by the company's increased size
and scale following property acquisitions and a robust organic
drilling program; high exposure to liquids, composed mostly of
higher-value black oil linked to waterborne grade pricing;
historically strong production economics and cash generation;
balanced acquisition funding; operator status on a majority of its
properties; and the short-term cash flow protections of its
hedging position.

Ratings issues for bondholders include the notable increase in the
company's leverage seen over the last few quarters including the
pending notes issuance; the company's status as a small offshore
GoM producer; lack of basin diversification; a relatively flat
production outlook over the next few years; increasing structural
subordination at EXXI Bermuda; and exposure to the riskier ultra-
deep shelf exploration program.

Increase in 2013 Reserves:

EXXI reported a large (50%) increase in audited proven (1p)
reserves at June 30, 2013, resulting in a 2013 reserve replacement
ratio of 393% on an organic basis, and 475% on an all-in basis, as
calculated by Fitch. Total 1p reserves climbed to 179 million boe
from 119 million boe the year prior, comprised primarily of
extensions and discoveries (62 million boe), and to a lesser
degree acquisitions (13 million boe). A significant driver of the
increase was the company's horizontal drilling program in the GoM,
which consists of short laterals (<1000 feet) drilled in EXXI's
mature offshore properties. Fitch would note that there is a
sizable backlog of such drilling opportunities across EXXI's
portfolio.

Rising Debt Restricts Headroom:

As calculated by Fitch, EXXI's debt with equity credit (which
includes a 50% weighting for the company's preferreds) rose to
$1.67 billion at Sept. 30, 2013 versus $1.49 billion at June 30,
2013, and just $1.14 billion at June 30, 2012. This is set to rise
further with the company's pending issuance. Fitch anticipates
total debt with equity credit for the company will reach just over
$2.0 billion, and pro forma debt/EBITDA will climb to over 2.2x.
As a result, credit metrics are weak for the current rating
category and there is expected to be little headroom at the
current rating level. Fitch anticipates the company will be
approximately FCF neutral in 2014 as capex is set to drop to $660
million. Fitch believes the company has reasonable capex
flexibility within that number.

Increasing Subordination at Exxi Bermuda:

The downgrade of EXXI Bermuda's IDR was driven by recognition of
the significant legal separations between the stronger EXXI Gulf
Coast subsidiary (which houses most of the corporation's assets
and cash flows) and the weaker EXXI Bermuda parent (which depends
on distributions from EXXI Gulf Coast), and the increased
structural subordination that would arise from issuing additional
securities at the weaker Bermuda parent.

Fitch would note that despite reasonably strong operational ties,
the legal separations between EXXI Gulf coast and Bermuda are
significant and include restrictions on dividend payments from
Gulf Coast to the parent; a lack of guarantees from the subsidiary
up to the parent; and separate legal jurisdictions(Bermuda vs. the
US). Fitch would also note that potential future international
investments recently identified by management at its Analyst Day
are likely to be funded at the Bermuda level for tax efficiency
reasons. As a result, if international expansions move ahead, we
anticipate that the amount of debt and securities issued at
Bermuda is likely to go up, which would further structurally
subordinate securities issued at Bermuda.

Limited Ultra Deep Shelf Commitment:

It is important to note that the company's 2013 reserve and
production figures exclude the impacts of the ultra-deep shelf
program, which Fitch anticipates should begin to be booked despite
ongoing delays at the Davy Jones #1 well. EXXI has participated in
eight ultra-deep shelf wells to date with participation levels of
9 - 20%. The company seeks to limit its total exposure to these
projects to less than 10% of expected cash flow in any one year,
and EXXI's strategy has been to fund this higher risk exploration
drilling with lower risk drilling prospects across the rest of its
portfolio. Total investments at June 30, 2013 were limited and
included Davy Jones #1 and #2 ($147 million), Blackbeard East ($51
million), Lafitte ($40 million), Blackbeard West #1 and #2 ($57
million), Lineham Creek ($17 million), and Lomond North ($21
million).

Liquidity:

EXXI's liquidity was good at September 30, 2013, and included
availability on its main revolver of approximately $841 million
after borrowings of $21 million and LoCs of $225 million. The
revolver, which expires in April 2018, is secured by a borrowing
base linked to at least 85% of the company's proven properties.
Similar to other borrowing-based revolvers, the base periodically
resizes in line with the underlying value of the collateral.

Key revolver covenants include maximum leverage of 3.5x; minimum
interest coverage of 3.0x; and a minimum current ratio of 1.0x, as
well as change of control provisions and restricted payments. The
company had ample headroom on all covenants at September 30, 2013.
Restrictions on dividends from EXXI gulf coast to its Bermuda
parent were recently loosened to include $350 million per year,
subject to liquidity and minimum cumulative consolidated net
income tests. EXXI's other maturities are light, with the no major
bonds maturities due over the next three years.

Recovery Rating:

Fitch's Recovery Rating (RR) of '1' on EXXI's secured revolving
credit facility indicates outstanding recovery prospects (91% -
100%) for holders of this debt. The revolver is secured by at
least 85% of the total value of proven reserves of the company and
its subsidiaries. The RR for EXXI's senior unsecured notes of '4'
indicates average recovery prospects for holders of these issues,
while the RR of EXXI's junior securities of '6' indicates poor
recovery prospects for these securities.

Other Liabilities:

EXXI's other liabilities are manageable. The company's Asset
Retirement Obligation (ARO) dropped to $287.8 million at June 30,
2013 from $301.4 million the year prior. EXXI recently provided a
guarantee to its 20% joint venture M21k for the payment of that
company's ARO ($65 million) and other liabilities ($1.8 million)
in exchange for a $6.3 million payment from M21k. EXXI hedges a
significant portion of its expected output using a range of
instruments; including swaps, collars, 3-way collars, and puts. At
June 30, 2013, the company had no collateral posted with
counterparties and had a net derivative asset of approximately
$60.28 million. Other obligations were limited at June 30, 2013,
and included undiscounted operating lease payments of $16.04
million, and rig commitments of $107.6 million.

Ratings Sensitivities:

Positive: Future developments that may lead to positive rating
actions include:

-- Increased size, scale and portfolio diversification,
accompanied by sustained improvement in debt/boe metrics;
-- A demonstrated managerial commitment to lower debt levels.

Negative: Future developments that could lead to negative rating
action include:

-- Increase in debt/boe metrics from current elevated levels;
-- A change in philosophy on the use of balance sheet;
-- A major operational issue such as a well blowout or extensive
facility damage not covered by existing insurance;
-- A sustained collapse in oil prices without other adjustments to
capex.


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


OGX PETROLEO: Petronas Abandons Firm as Martelo Project Backer
--------------------------------------------------------------
Peter Millard and Juan Pablo Spinetto at Bloomberg News report
that OGX Petroleo & Gas Participacoes SA said it lost Malaysia's
Petroliam Nasional Bhd. (Petronas) as a financial backer for its
most promising field.  Bloomberg News relates that Petronas
canceled a contract to buy a 40 percent stake in two offshore
exploration blocks that include the Tubarao Martelo field.

Bloomberg News notes that the company, controlled by former
billionaire Eike Batista, said it's studying legal options.

OGX was counting on $850 million from the Petronas sale to develop
the Martelo field where it plans to start output this year,
according to Bloomberg News.  The company, which expects to run
out of cash in the last week of December, needs about $250 million
to sustain operations through April, it said in an Oct. 23
presentation to Rothschild, the adviser hired by its bondholders,
Bloomberg News notes.

Bloomberg News relates that Petronas had set as a pre-condition to
the Martelo deal that OGX restructure its debt, Shamsul Azhar
Abbas, chief executive officer of Malaysia's state energy company,
said in August.

A press official for OGX, who asked not to be named according to
corporate policy, said the company still plans to start producing
at Martelo this year, Bloomberg News adds.

                         About OGX Petroleo

Based in Rio de Janeiro, Brazil, OGX Petroleo e Gas Participaaoes
S.A. is an independent exploration and production company with
operations in Latin America.

OGX filed for bankruptcy in a business tribunal in Rio de Janeiro
on Oct. 30. The bankruptcy filing puts $3.6 billion of dollar
bonds into default in the largest corporate debt debacle on record
in Latin America.  The filing by the oil company that transformed
Eike Batista into Brazil's richest man followed a 16-month decline
that wiped out more than $30 billion of his personal fortune.

The filing, which in Brazil is called a judicial recovery, follows
months of negotiations to restructure the dollar bonds, in which
OGX sought to convert debt to equity and secure as much as $500
million in new funds. OGX said Oct. 29 that the talks concluded
without an agreement. The company's cash fell to about $82 million
at the end of September, not enough to sustain operations further
than December.


OSX BRASIL: BNDES Won't Extend US$228 Million Loan
--------------------------------------------------
Luciana Magalhaes and Jeffrey T. Lewis at Daily Bankruptcy Review
report that Banco Nacional de Desenvolvimento Economico e Social,
(BNDES) has decided not to grant a further extension on a $228
million loan to struggling naval construction company OSX Brasil
SA, a person familiar with the situation said.

As reported in the Troubled Company Reporter-Latin America on
Nov. 12, 2013, The Wall Street Journal said OSX Brasil SA filed
for bankruptcy protection, the second such filing for a
commodities empire that crumbled this year as losses piled up and
investor confidence plummeted.  The move on Nov. 11 at a Rio de
Janeiro court follows a default and bankruptcy filing last month
for Mr. Batista's flagship oil firm OGX Petroleo e Gas
Participacoes SA, according to the WSJ report.  The firm went
public in 2008 for $4.1 billion but failed to produce nearly any
of the up to 10.8 billion barrels it claimed to have. Recently,
OGX declared several of its once promising fields were actually
duds.

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


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


CASPIAN CAPITAL: Shareholders' Final Meeting Set for Nov. 27
------------------------------------------------------------
The shareholders of Caspian Capital Partners International, Ltd
will hold their final meeting on Nov. 27, 2013, at 3:00 p.m., to
receive the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

          Stuarts Walker Hersant
          Telephone: (345) 949 3344
          Facsimile: (345) 949 2888
          P.O. Box 2510 Grand Cayman KY1-1104
          Cayman Islands


CENTENNIAL CBO: Commences Liquidation Proceedings
-------------------------------------------------
On Oct. 24, 2013, the shareholders of Centennial CBO, Limited
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:

          David Dyer
          Deutsche Bank (Cayman) Limited
          PO Box 1984, Boundary Hall
          Cricket Square, 171 Elgin Avenue
          Grand Cayman KY1-1104
          Cayman Islands


DIAMOND FINANCE: Commences Liquidation Proceedings
--------------------------------------------------
On Oct. 24, 2013, the shareholders of Diamond Finance
International Limited 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:

          David Dyer
          Deutsche Bank (Cayman) Limited
          PO Box 1984, Boundary Hall
          Cricket Square, 171 Elgin Avenue
          Grand Cayman KY1-1104
          Cayman Islands


FAXTOR HG 2007-1: Commences Liquidation Proceedings
---------------------------------------------------
On Oct. 24, 2013, the shareholders of Faxtor HG 2007-1 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:

          David Dyer
          Deutsche Bank (Cayman) Limited
          PO Box 1984, Boundary Hall
          Cricket Square, 171 Elgin Avenue
          Grand Cayman KY1-1104
          Cayman Islands


FRANKLIN CLO I: Commences Liquidation Proceedings
-------------------------------------------------
On Oct. 24, 2013, the shareholders of Franklin CLO I, Limited
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:

          David Dyer
          Deutsche Bank (Cayman) Limited
          PO Box 1984, Boundary Hall
          Cricket Square, 171 Elgin Avenue
          Grand Cayman KY1-1104
          Cayman Islands


HEMISPHERE CDO: Commences Liquidation Proceedings
-------------------------------------------------
On Oct. 24, 2013, the shareholders of Hemisphere CDO (Cayman
Islands No.1) Limited 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:

          David Dyer
          Deutsche Bank (Cayman) Limited
          PO Box 1984, Boundary Hall
          Cricket Square, 171 Elgin Avenue
          Grand Cayman KY1-1104
          Cayman Islands


IRONWOOD LTD: Creditors' Proofs of Debt Due Dec. 3
--------------------------------------------------
The creditors of Ironwood Ltd. are required to file their proofs
of debt by Dec. 3, 2013, to be included in the company's dividend
distribution.

The company commenced wind-up proceedings on Oct. 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


PEGASUS FUND: Creditors' Proofs of Debt Due Nov. 25
---------------------------------------------------
The creditors of Pegasus Fund Limited are required to file their
proofs of debt by Nov. 25, 2013, to be included in the company's
dividend distribution.

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

The company's liquidator is:

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


REGAL NATURAL: Creditors' Proofs of Debt Due Dec. 4
---------------------------------------------------
The creditors of Regal Natural Resources Fund are required to file
their proofs of debt by Dec. 4, 2013, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on Oct. 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


SV SPECIAL: Creditors' Proofs of Debt Due Nov. 25
-------------------------------------------------
The creditors of SV Special Gold Ltd. are required to file their
proofs of debt by Nov. 25, 2013, to be included in the company's
dividend distribution.

The company commenced wind-up proceedings on Oct. 16, 2013.

The company's liquidator is:

          Ogier
          c/o Kellian Hutchinson
          Telephone: (345) 815-1418
          Facsimile: (345) 949-9877
          89 Nexus Way, Camana Bay
          Grand Cayman KY1-9007
          Cayman Islands


THE INVESTCORP: Creditors' Proofs of Debt Due Dec. 5
----------------------------------------------------
The creditors of The Investcorp Index-Linked Product SPC are
required to file their proofs of debt by Dec. 5, 2013, to be
included in the company's dividend distribution.

The company commenced liquidation proceedings on Oct. 21, 2013.

The company's liquidator is:

          Mufeed Rajab
          c/o Evania Ebanks
          Telephone: (345) 949 5122
          Facsimile: (345) 949 7920
          PO Box 1111 Grand Cayman KY1-1102
          Cayman Islands


VINCENT INVESTMENT: Creditors' Proofs of Debt Due Dec. 1
--------------------------------------------------------
The creditors of Vincent Investment Properties Ltd. are required
to file their proofs of debt by Dec. 1, 2013, to be included in
the company's dividend distribution.

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

The company's liquidator is:

          Paget-Brown Trust Company Ltd.
          c/o Evania Ebanks
          Telephone: (345) 949-5122
          Facsimile: (345) 949-7920
          Paget-Brown Trust Company Ltd.
          Boundary Hall, Cricket Square
          P.O. Box 1111 Grand Cayman KY1-1102
          Cayman Islands


===============
C O L O M B I A
===============


* COLOMBIA: To Get $20MM IDB Loan to Support Brilla Program
-----------------------------------------------------------
With a loan of $20 million from the Inter-American Development
Bank (IDB), up to 1.4 million families will benefit from expanded
access to credit for the purchase of household appliances, school
supplies and financing for technical education in Colombia.

The objective of the program is to scale up the non-bank financing
program Brilla, developed by PROMIGAS, S.A., which provides an
unconventional, innovative platform based on the company's network
of gas consumers to increase access to financial services.
Through the program, natural gas consumers with good payment
histories can access financing for a variety of goods and services
that will improve the quality of life for their families.

The loan targets low-income residents of the Atlantic and Pacific
regions of Colombia living on between $4 and $10 per day.  Known
as the base of the pyramid, this segment of the population is
noted not only for financial exclusion, but also for lower levels
of education, a high degree of informality in the workplace and
substantially higher rates of interest when able to access credit.

A key challenge in the Colombian finance sector is not just
banking greater numbers of the overall population, but also
creating long-term relationships with clients so as to promote
their continued presence in the financial system and timely access
to suitable financial products.


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


* DOMINICAN REP: Gets Nearly US$1.5B Foreign Investment in 1stHalf
------------------------------------------------------------------
Dominican Today report that the direct foreign investment during
the first half of 2013 was nearly US$1.5 billion, a significant
growth over the average of the last five years, said Export and
Investment Center (CEI-RD) director Jean Alain Rodriguez on Nov.
14.

Mr. Rodriguez forecasts that foreign investment's continued growth
will create around 108,700 jobs during the next three years, or
27% of the Government's projection, according to Dominican Today.

The report notes that Mr. Rodriguez said there has been a notable
diversification of the investment areas.  "This year will be one
of the best in foreign investment. Our country offers a wide range
of opportunities to invest, focusing investment in recent years in
the tourism, real estate, financial, mining, telecommunications,
electricity, services and free zone sectors," the report quoted
Mr. Rodriguez as saying.



=================
N I C A R A G U A
=================


* NICARAGUA: To Get $45 Million Package for Electricity Sector
--------------------------------------------------------------
The Inter-American Development Bank (IDB) has approved a $45
million loan aimed at enhancing the financial and operational
sustainability of the electricity sector in Nicaragua.

With this package Nicaragua will improve the energy sector
management and support steps to create a sustainable energy grid
by promoting renewable energy sources, private investment and
energy efficiency.

The project will seek to identify obstacles and solutions for
entering the national electricity market, encourage improvements
in new-generation contracting processes so as to stimulate
competition and private investment through a legal framework with
clearly defined rules.  The goal is to achieve prices that reduce
rates for consumers.  The cost of supplying electricity in
Nicaragua is now one of the highest in Central America, with an
average rate of $20.27 per kilowatt hour (kWh).

Nicaragua will be able to improve the quality of utility service
and control over supplies, normalization and formalization of
customers.  It will also reduce the frequency of cuts in service,
gaps in distribution and energy consumption by implementing an
efficient energy policy.  The IDB financing will support the
integration of regional electrical grids with the goal of
increasing exchanges among countries connected to the Electrical
Interconnection System (SIEPAC in Spanish).

The loan is composed of $22.5 million from the Fund for Special
Operations with a grace period of 40 years and an interest rate of
0.25 per cent, plus $22.5 million in ordinary capital over 30
years, with a grace period of 5.5 years and a fixed uni-monetary
interest rate.


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