TCRLA_Public/140115.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

           Wednesday, January 15, 2014, Vol. 15, No. 10


                            Headlines



A R G E N T I N A

HF PESOS: Moody's Assigns 'B-bf' Global Scale Bond Fund Rating
TRANSPORTADORA DE GAS: Discloses Exchange Offer
TRANSPORTADORA DE GAS: Moody's Affirms 'B3' Unsecured Bond Rating


B R A Z I L

OGX PETROLEO: Pays Part of Offshore Oil Field Bill
OGX PETROLEO: Brazil Gives Firm Time to Show Financial Viability


C A Y M A N  I S L A N D S

ANCHOR POINT: Shareholder Receives Wind-Up Report
ARDEN ERISA: Placed Under Voluntary Wind-Up
BENEFITS AMERICA: Shareholders to Hold Meeting on Feb. 28
C4 SYSTEMS: Shareholders Receive Wind-Up Report
CAPITAL GREEN: Commences Liquidation Proceedings

CONCORDIS INSURANCE: Placed Under Voluntary Wind-Up
DELTA ENVIRONMENTAL: Placed Under Voluntary Wind-Up
FRANCK ASSET: Shareholders Receive Wind-Up Report
GFP DUNAS: Placed Under Voluntary Wind-Up
HGK STRATEGIC: Commences Liquidation Proceedings

KIBA LIMITED: Commences Liquidation Proceedings
REGENT SPECIAL: Shareholder Receives Wind-Up Report
SUNTECH POWER: Court Appoints Walker and Stokoe as Liquidators
SUPER D HOLDINGS: Placed Under Voluntary Wind-Up
TEMPUS QUO OFFSHORE: Shareholder Receives Wind-Up Report

TEMPUS QUO MASTER: Shareholder Receives Wind-Up Report
TERRA PARTNERS ASSET: Commences Liquidation Proceedings
TERRA PARTNERS GROUP: Commences Liquidation Proceedings
TRANSOCEAN BANK: Shareholders Receive Wind-Up Report
WANDA LIMITED: Members Receive Wind-Up Report


                            - - - - -


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


HF PESOS: Moody's Assigns 'B-bf' Global Scale Bond Fund Rating
--------------------------------------------------------------
Moody's Latin America Agente de Calificacion de Riesgo has
assigned bond fund ratings to HF PESOS FCI fund, a bond fund
managed by HSBC Administradora de Inversiones SA SGFCI.  The
ratings assigned are a global scale bond fund rating of B-bf and a
national scale bond fund rating of Aa-bf.ar.

The bond fund ratings are based on Moody's assessment of the
fund's historical portfolio composition, which has a minimum of
75% in local time deposit and cash, and the expectation that the
asset manager will continue to maintain the fund's maturity-
adjusted weighted average credit quality profile at B-bf/Aa-bf.ar.
"Based on the fund's history and current portfolio, its maturity-
adjusted weighted average credit quality is comparable to those of
similarly rated funds," said Moody's lead analyst Carlos de
Nevares.

The fund's key investors are institutional investors, such as
local insurance companies and corporate treasurers, who have been
historical clients of HSBC Administradora's affiliates.

The principal methodology used in this rating was "Moody's Bond
Fund Rating Methodology" published in May 2013.

HSBC Administradora, historically among the largest asset manager
in the Argentinean mutual fund Industry, is a subsidiary of HSBC
Bank Argentina, one of the leading private bank in Argentina. As
of December 2013, HSBC Administradora managed approximately AR$3.9
billion in assets under management (AUM), or approximately $600
million, which constitutes about 5.1 % of market share.


TRANSPORTADORA DE GAS: Discloses Exchange Offer
-----------------------------------------------
Transportadora de Gas del Sur S.A. has commenced an offer to
exchange any and all of the outstanding 7.875% notes due 2017
(CUSIP: 893870AU9; ISIN: US893870AU90; and CUSIP: P9308RAX1; ISIN:
USP9308RAX19) for newly issued 9.625% notes due 2020.

The exchange offer will expire at 11:59 p.m. (New York City time)
on February 7, 2014, unless extended by us (the "Expiration
Date").  In order to be eligible to receive the early exchange
consideration, which includes the early participation
consideration, holders of Old Notes must validly tender and must
not validly withdraw their Old Notes prior to or at 5:00 p.m. (New
York City time) on January 24, 2014, unless extended by us (the
"Early Participation Date").  Holders of Old Notes who validly
tender after the Early Participation Date and prior to or on the
Expiration Date will be eligible to receive the exchange
consideration, which does not include the early participation
consideration.

Eligible holders that validly tender Old Notes at or prior to the
Early Redemption Date and do not validly withdraw, will receive,
US$1,000 principal amount of New Notes for each US$1,000 principal
amount of Old Notes validly tendered and accepted.  The Early
Exchange Consideration includes early participation consideration
of US$30 principal amount of New Notes for such Old Notes validly
tendered, not validly withdrawn and accepted.  Eligible holders
that validly tender Old Notes after the Early Participation Date
and prior to or on the Expiration Date will be eligible to receive
only the exchange consideration of US$970 principal amount of New
Notes for each US$1,000 principal amount of Old Notes validly
tendered and accepted, and no early exchange consideration on the
settlement date.


TRANSPORTADORA DE GAS: Moody's Affirms 'B3' Unsecured Bond Rating
-----------------------------------------------------------------
Moody's Investors Service affirmed its B3 and A2.ar senior
unsecured bond ratings of Transportadora de Gas del Sur S.A. (TGS)
following the company's announced exchange offer in relation to
its outstanding USD374 million 7.875% Notes, due 2017. The rating
outlook has been changed to stable from negative.

Recent Events

TGS announced an exchange offer in relation to the USD374 million
principal amount of its 7.875% guaranteed senior unsecured notes
due 2017. "The proposed exchange offer, if successfully completed,
is a modest credit positive for TGS as it will result in an
extension of the company's debt maturity profile", said Daniela
Cuan, Moody's lead analyst for TGS. "Although we expect that TGS
will pay a higher coupon on the new notes, the increased financial
flexibility as a result of the maturity extension more than
offsets the increased cost of debt" Ms. Cuan added. "Following the
transaction, we expect the company to still maintain a relatively
low leverage position, with adjusted debt/EBITDA declining to
below 2.0 times after the scheduled May principal payment of USD
93.5 million. Moody's also expects TGS to continue generating
strong levels of cash flow in relation to debt."

The new notes will be issued under TGS US$400 million medium term
note program and will constitute obligaciones negociables
("Negotiable Obligations") and will be issued pursuant to and in
compliance with all the requirements of Argentine Negotiable
Obligations Law. The Exchange Offer is conditioned on at least USD
150 million being exchanged.

Following the exchange offer, the New Notes, that will mature in
2020, will be senior unsecured obligations and will rank at all
times pari passu in all respects, without any preference among
themselves, with all of TGS's other present and future unsecured
and unsubordinated obligations, other than obligations preferred
by statute or by operation of law.

Issuer: Transportadora de Gas del Sur S.A.

  Assignments:

    Senior Unsecured Assigned B3/ A2.ar

  Affirmations:

    Senior Unsecured Affirmed B3/A2.ar

Outlook Actions:

    Outlook, Changed To Stable From Negative

Ratings Rationale

The B3 and A2.ar ratings are supported by TGS' strong credit
metrics and debt protection measures for its rating category.

The outlook change to stable is prompted by TGS's sustained credit
metrics and debt reduction over recent years in spite of an
unpredictable regulatory environment and frozen tariffs.

TGS's credit metrics are strong, not only relative to its B3
rating but also relative to its Latam peers operating in the
natural gas pipeline industry with a ratio of FFO to interest as
of September 2013 of 3.7 times, RCF to debt at 19% and FFO to debt
at 30%. TGS's relatively strong credit profile is primarily
supported by the unregulated portion of its business, given that
in the regulated business sector tariffs have been frozen for some
time under an unsupportive and highly unpredictable regulatory
framework. Nevertheless, TGS' natural gas transportation business
benefits from stable, regulated revenues and limited competition.

Despite the constraints of its frozen regulated tariffs and the
unpredictable regulatory framework prevailing in Argentina, TGS
has been able to significantly reduce debt due to strong cash
generation from the very favorable cash margins received for
Natural Gas Liquid (NGL) products produced in the unregulated
segment coupled with relatively low capital expenditure
requirements and several years of no material dividend payments.

The ratings are also limited by the contract quality underlying
its regulated business model. In particular, Moody's notes that
firm revenues are significant (more than 70% of transport
revenues) but have become much smaller (20%) if measured in
relation to the company's total revenues given the frozen tariffs.
In addition, TGS's main regulated clients are regulated gas
distribution companies whose ratings are typically in the B/Caa
range and contracts are short term.

On the other hand, TGS is one of the largest natural gas
processors and marketers of NGL products in Argentina The liquids
production and commercialization business is not subject to
regulation by ENARGAS, the federal regulator for both gas pipeline
and distribution companies. Because of the inherent commodity
risks associated with this unregulated business, revenues and
earnings can be volatile. Nevertheless, the company has been able
to not only grow but maintain a consistent track record of
profitable operations from this segment over the last several
years. Revenues from this segment represent approximately 68% of
total revenues.

Finally, Moody's believes that the creditworthiness of the company
cannot be completely de-linked from the credit quality of the
Argentine government and that the ratings need to be closely
aligned to reflect the risks that TGS shares with the sovereign;
therefore, TGS' B3 foreign currency rating is constrained by
Argentina's B3 foreign currency bond ceiling.

Liquidity Profile

In spite of frozen regulated tariffs for its gas transportation
services, over five year of high prices for its liquids products
coupled with stable production levels and no material capital
expenditures have resulted in consistent sound cash generation in
relation to debt and a strong liquidity position. Even though the
company's dividend policy has become somewhat more aggressive in
the last couple of years, TGS has been able to sustain high levels
of cash on its balance sheet.

The USD374 million outstanding notes are TGS's only debt
obligation and next USD93.5 million principal payment due in May
will be funded with cash on the balance sheet and will be repaid
regardless of the outcome of the exchange offer. Therefore after
the May payment TGS's total debt will decline to approximately
USD280 million with a maturity profile that is expected to be
extend through 2020 if the exchange is successful. Restrictive
covenants on new notes include: interest coverage ratio (EBITDA
/Interest) greater than 2 times and leverage ratio (debt to
Ebitda) of less than 3.75 times.

Rating Outlook

The stable outlook for TGS reflects Moody's view that TGS will be
able to continue generating adequate profits and cash flows in
relation to debt in spite of the continuation of frozen tariffs
for its transportation services and the inherent commodity risks
and volatility associated with its liquids business. .

What Could Change the Rating - UP

Given the exposure of TGS to the local market and its regulations,
Moody's does not expect an upgrade of the rating over the near
term. Nevertheless, an upgrade of the rating or the outlook could
result from a favorable conclusion of the renegotiation with the
government resulting in a tariff increase for TGS that allows it
to improve returns and profitability on its transportation
services and/or structural changes by the government that provide
a more predictable regulatory framework that have a positive
impact on TGS' ratings in combination with a sizable reduction in
foreign currency debt.

TGS' B3 foreign currency rating is constrained by Argentina's B3
foreign currency bond ceiling; therefore, TGS' ratings would be
upgraded if Argentina's foreign currency bond ceiling is upgraded.

What Could Change the Rating - DOWN

Negative pressure on the ratings could result with a deterioration
of TGS' credit metrics from current levels, such that total debt
to EBITDA increases to over 4 times or interest coverage (FFO plus
Interest to Interest) falls below 2.5 times. A more aggressive
financial policy that results in levels of FCF (FFO less
dividends) to debt of less than 15% or if the company's relatively
strong liquidity position materially weakens could also create
negative rating pressure.

Headquartered in Buenos Aires, Argentina, TGS's is the largest
transporter of natural gas within the country, delivering
approximately 60% of the total gas transported in Argentina. TGS's
gas transportation business is regulated by ENARGAS, and revenues
from this business are expected to represent approximately 27% of
total revenues in 2013. TGS is also one of the largest natural gas
processors and one of the largest marketers of NGL products in
Argentina. Revenues from this segment are expected to represent
approximately 68% of total revenues in 2013.



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


OGX PETROLEO: Pays Part of Offshore Oil Field Bill
--------------------------------------------------
Luciana Magalhaes, writing for Daily Bankruptcy Review, reports
that troubled Brazilian oil company Oleo e Gas Participacoes SA,
founded by entrepreneur Eike Batista, confirmed on Jan. 9, 2014,
that it has paid part of an outstanding bill for work done at an
offshore oil field as the firm seeks to avoid having the
concession revoked by local regulators.

Oleo e Gas Participacoes SA -- formerly known as OGX Petroleo e
Gas Participacoes SA -- said in an email it will continue to make
installment payments to pay off the debt, according to Daily
Bankruptcy Review.

The report relates that the company, however, declined to say how
much had been paid and how much it still owes its partners in the
field, QGEP Participacoes and Barra Energia.

As reported in the Troubled Company Reporter on Jan. 8, 2014,
Oleo e Gas said that it was seeking cash to pay for the firm's
share of work at an offshore oil field before regulators revoke
the concession.  According to the report, Oleo e Gas said that it
had maintained "friendly talks" with partners and creditors to
restructure the company's finances and continue operations.  In
December, Oleo e Gas reached a preliminary deal with creditors to
exchange some $5.8 billion in debt for shares that could also
include an injection of fresh capital for investments at several
oil fields.  Investments in the BS-4 block, which sits in Brazil's
offshore Santos Basin that is home to several multibillion-barrel
oil discoveries, was part of the restructuring plan, the company
said, the report related.

The foundering oil company has 15 days to pay the BRL73 million
(US$31 million) the firm owes two partners for work done at the
BS-4 offshore exploration block, which includes the Atlanta and
Oliva oil fields, according to QGEP Participacoes, the report
said. Oleo e Gas holds a 40% stake in the block.  QGEP operates
the block with a 30% share, while closely held Barra Energia
retains the remaining 30%.0

                        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, 2013, case number 0377620-56.2013.8.19.0001.  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.


OGX PETROLEO: Brazil Gives Firm Time to Show Financial Viability
----------------------------------------------------------------
Reuters reports that Brazil's oil regulator ANP extended until
January 24 a deadline for businessman Eike Batista's bankrupt Oleo
e Gas Participacoes SA -- formerly known as OGX Petroleo e Gas
Participacoes SA -- to show that it has the financial viability
required to hold on to off-shore concessions, the company said.

The company filed Latin America's largest-ever bankruptcy
protection petition on Oct. 30, according to Reuters.  It had
requested more time to fend off creditors and shore up its
finances through its operating contracts and concessions, the
report relates.

Reuters notes that the regulator has told the company it can be
bankrupt but it must meet its financial commitments to continue
operating the off-shore fields.

Reuters says that the company owes partners QGEP and Barra Energia
do Brasil Petroleo e Gas BRL73 million for operations in the
Atlanta and Oliva fields.

QGEP and Barra each own 30 percent of the Santos basin fields
south of Rio de Janeiro.  The first horizontal production well in
Atlanta is expected to start producing in January.

Failure to meet financial commitments related to oil exploration
and production concessions can result in the loss of those
concessions under Brazilian law, Reuters relays.

                         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, 2013, case number 0377620-56.2013.8.19.0001.  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.



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


ANCHOR POINT: Shareholder Receives Wind-Up Report
-------------------------------------------------
The sole shareholder of Anchor Point Capital Flagship Fund
Offshore Ltd received on Dec. 24, 2013, the liquidator's report on
the company's wind-up proceedings and property disposal.

The company's liquidator is:

          Ogier
          c/o Madeleine Welham
          Telephone: (345) 815 1750
          Facsimile: (345) 949-9877


ARDEN ERISA: Placed Under Voluntary Wind-Up
-------------------------------------------
On Nov. 13, 2013, the sole shareholder of Arden Erisa Portable
Alpha SPC resolved to voluntarily wind up the company's
operations.

Only creditors who were able to file their proofs of debt by
Dec. 23, 2013, will be included in the company's dividend
distribution.

The company's liquidator is:

          Ogier
          c/o Jo-Anne Maher
          Telephone: (345) 815-1762
          Facsimile: (345) 949-9877
          89 Nexus Way, Camana Bay
          Grand Cayman KY1-9007
          Cayman Islands


BENEFITS AMERICA: Shareholders to Hold Meeting on Feb. 28
---------------------------------------------------------
The shareholders of Benefits America, Ltd. will hold their final
meeting on Feb. 28, 2014, at 10:00 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

          Woodward Terry & Company
          Jack & Jill Building, Suite #10, 2nd Floor
          19 Fort Street, George Town
          P.O. Box 822, Grand Cayman KY1-1103
          Cayman Islands


C4 SYSTEMS: Shareholders Receive Wind-Up Report
-----------------------------------------------
The shareholders of C4 Systems Incorporated received on Dec. 27,
2013, the liquidator's report on the company's wind-up proceedings
and property disposal.

The company's liquidator is:

          Avalon Management Limited
          Landmark Square, 1st Floor
          64 Earth Close, West Bay Beach
          P.O. Box 715 Grand Cayman KY1-1107
          Cayman Islands
          Facsimile: +1 (345) 769-9351


CAPITAL GREEN: Commences Liquidation Proceedings
------------------------------------------------
On Nov. 22, 2013, the sole shareholder of Capital Green
Investments resolved to voluntarily liquidate the company's
business.

Only creditors who were able to file their proofs of debt by
Jan. 1, 2014, will be included in the company's dividend
distribution.

The company's liquidator is:

          Jonathan Pierre
          Mourant Ozannes
          Reference: Tracy Hylton
          Telephone: +1 (345) 949 4123
          Facsimile: +1 (345) 949 4647; or

          Jonathan Pierre
          Telephone: 345-916-6913
          94 Solaris Avenue, Camana Bay
          P.O. Box 1348 Grand Cayman KY1-1108
          Cayman Islands


CONCORDIS INSURANCE: Placed Under Voluntary Wind-Up
---------------------------------------------------
On Nov. 20, 2013, the sole shareholder of Concordis Insurance SPC
resolved to voluntarily wind up the company's operations.

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

The company's liquidator is:

          Global Captive Management Ltd
          Governors Square, Building 3, 2nd Floor
          23 Lime Tree bay Avenue
          P.O. Box 1363 Grand Cayman KY1-1108
          Cayman Islands
          Telephone: +1 (345) 949 7966
          Facsimile: +1 (345) 949 8068


DELTA ENVIRONMENTAL: Placed Under Voluntary Wind-Up
---------------------------------------------------
On Nov. 15, 2013, the sole shareholder of Delta Environmental and
Educational Company resolved to voluntarily wind up the company's
operations.

Only creditors who were able to file their proofs of debt by
Dec. 23, 2013, will be included in the company's dividend
distribution.

The company's liquidator is:

          Wellgrace Limited
          FWD Financial Centre
          Units 2201-2, 22/F.
          308 Des Voeux Road Central
          Hong Kong
          Telephone: (852) 3583 1540
          Facsimile: (852) 2543 2625


FRANCK ASSET: Shareholders Receive Wind-Up Report
-------------------------------------------------
The shareholders of Franck Asset Management (Cayman) Limited
received on Dec. 11, 2013, the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidators are:

          Robin Lee Mcmahon
          c/o Geoff Baker
          Telephone: (345) 814 9011
          Facsimile: (345) 814 8529
          Ernst & Young Ltd.
          62 Forum Lane, Camana Bay
          P.O. Box 510 Grand Cayman KY1-1106
          Cayman Islands


GFP DUNAS: Placed Under Voluntary Wind-Up
-------------------------------------------
On Nov. 20, 2013, the sole shareholder of GFP Dunas Partners
Holdings, Inc. resolved to voluntarily wind up the company's
operations.

Only creditors who were able to file their proofs of debt by
Dec. 23, 2013, will be included in the company's dividend
distribution.

The company's liquidator is:

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


HGK STRATEGIC: Commences Liquidation Proceedings
------------------------------------------------
On Nov. 22, 2013, the shareholders of HGK Strategic Income Fund I,
Ltd resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Dec. 16, 2013, will be included in the company's dividend
distribution.

The company's liquidator is:

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


KIBA LIMITED: Commences Liquidation Proceedings
-----------------------------------------------
On Nov. 19, 2013, the shareholder of Kiba Limited resolved to
voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Jan. 6, 2014, will be included in the company's dividend
distribution.

The company's liquidator is:

          Ellen J. Christian
          c/o BNP Paribas Bank & Trust Cayman Limited
          P.O. Box 10632
          Royal Bank House, Shedden Road, 3rd Floor
          George Town, Grand Cayman KY1-1006
          Cayman Islands
          Telephone: (345) 945 9208
          Facsimile: (345) 945 9210


REGENT SPECIAL: Shareholder Receives Wind-Up Report
---------------------------------------------------
The sole shareholder of Regent Special Situations Fund received on
Jan. 3, 2014, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidators are:

          Roger Priaulx
          Edel Andersen
          c/o Genesis Trust & Corporate Services Ltd.
          Midtown Plaza, 2nd Floor
          Elgin Avenue, George Town
          Grand Cayman
          Cayman Islands KY1-1106
          Telephone: (345) 945 3466
          Facsimile: (345) 945 3470


SUNTECH POWER: Court Appoints Walker and Stokoe as Liquidators
--------------------------------------------------------------
On Oct. 7, 2013, the Grand Court of Cayman Islands appointed David
A.K. Walker and Ian Stokoe as provisional liquidators of Suntech
Power Holdings Co., Ltd.

The company's liquidator is:

          David A.K. Walker
          c/o Prue Lawson
          Telephone: (345) 914 8662
          Facsimile: (345) 945 4237
          P.O. Box 258 Grand Cayman KY1-1104
          Cayman Islands


SUPER D HOLDINGS: Placed Under Voluntary Wind-Up
------------------------------------------------
On Nov. 22, 2013, the sole shareholder of Super D Holdings,
Limited resolved to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
Dec. 16, 2013, will be included in the company's dividend
distribution.

The company's liquidator is:

          Super D Holdings, LLC
          10349 Watson Road
          Suite 100 St. Louis, MO 63127
          USA


TEMPUS QUO OFFSHORE: Shareholder Receives Wind-Up Report
--------------------------------------------------------
The sole shareholder of Tempus Quo Alternative Offshore Fund Ltd
received on Dec. 23, 2013, the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

          Ogier
          Name: Michael Lubin
          Telephone: (345) 815 1793
          Facsimile: (345) 949-9877


TEMPUS QUO MASTER: Shareholder Receives Wind-Up Report
------------------------------------------------------
The sole shareholder of Tempus Quo Alternative Master Fund Ltd
received on Dec. 23, 2013, the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

          Ogier
          Name: Michael Lubin
          Telephone: (345) 815 1793
          Facsimile: (345) 949-9877


TERRA PARTNERS ASSET: Commences Liquidation Proceedings
-------------------------------------------------------
On Nov. 22, 2013, the shareholders of Terra Partners Asset
Management resolved to voluntarily liquidate the company's
business.

Only creditors who were able to file their proofs of debt by
Dec. 16, 2013, will be included in the company's dividend
distribution.

The company's liquidator is:

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


TERRA PARTNERS GROUP: Commences Liquidation Proceedings
-------------------------------------------------------
On Nov. 22, 2013, the shareholders of Terra Partners Group
resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Dec. 16, 2013, will be included in the company's dividend
distribution.

The company's liquidator is:

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


TRANSOCEAN BANK: Shareholders Receive Wind-Up Report
----------------------------------------------------
The shareholders of Transocean Bank & Trust Limited received on
Dec. 11, 2013, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidators are:

          Robin Lee Mcmahon
          c/o Geoff Baker
          Telephone: (345) 814 9011
          Facsimile: (345) 814 8529
          Ernst & Young Ltd.
          62 Forum Lane, Camana Bay
          P.O. Box 510 Grand Cayman KY1-1106
          Cayman Islands


WANDA LIMITED: Members Receive Wind-Up Report
---------------------------------------------
The members of Wanda Limited received on Dec. 23, 2013, the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

          Buchanan Limited
          P.O. Box 1170, George Town
          Grand Cayman KY1-1102
          Cayman Islands


                            ***********


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.

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, and Peter A.
Chapman, Editors.

Copyright 2014.  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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