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                     L A T I N   A M E R I C A

           Friday, February 7, 2014, Vol. 15, No. 27


                            Headlines



B R A Z I L

COMPANHIA DE SANEAMENTO: Faces Difficulties Amid Drought


C A Y M A N  I S L A N D S

ADVISION MEDIA: Shareholder Receives Wind-Up Report
AERO LTD: Shareholders Receive Wind-Up Report
BEGBIES TRAYNOR: Shareholders Receive Wind-Up Report
BLACKSTONE SC: Shareholders Receive Wind-Up Report
EBF HOLDING: Shareholders Receive Wind-Up Report

GOLD ALLIANCE: Shareholders Receive Wind-Up Report
GREEN ALLIANCE: Shareholders Receive Wind-Up Report
J. ZOROASTER: Sole Member Receives Wind-Up Report
JEMEKK TOTAL: Shareholders Receive Wind-Up Report
LONGWOOD FINANCE: Shareholder Receives Wind-Up Report

NOELLE ENTERTAINMENT: Members Receive Wind-Up Report
OPTIMA ABSOLUTE: Shareholders Receive Wind-Up Report
ORBCOMM ASIA: Shareholder Receives Wind-Up Report
PEACEMAKER CORPORATION: Shareholders Receive Wind-Up Report
SEA ELECTRONIC: Shareholder Receives Wind-Up Report

SKYSILVER LIMITED: Shareholders Receive Wind-Up Report
TUTOR-CAYMAN: Sole Shareholder Receives Wind-Up Report
UBS ALPHA: Shareholders Receive Wind-Up Report
VIETNAM ENERGY: Shareholders Receive Wind-Up Report
XANTHOS FUTURES: Shareholders Receive Wind-Up Report

XANTHOS FUTURES PORTFOLIO: Shareholders Receive Wind-Up Report


J A M A I C A

JAMAICA: To Get US$60MM IDB Loan to Improve Competitiveness


                            - - - - -


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B R A Z I L
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COMPANHIA DE SANEAMENTO: Faces Difficulties Amid Drought
--------------------------------------------------------
Stephan Nielsen at Bloomberg News reports that the system that
provides half the drinking water to South America's largest city,
Sao Paulo, will run dry in 45 days if there's no rain, amid the
biggest drought on record.

The Cantareira water system, which supplies 10 million people in
the region, is at less than a quarter of capacity, Francisco
Lahoz, executive secretary of water association Consorcio PCJ,
told Bloomberg in a telephone interview.  Once it falls below 20
percent, Brazil's biggest water utility Cia. de Saneamento Basico
do Estado de Sao Paulo will face difficulties transferring water
between reservoirs, according to Bloomberg News.

As reported in the Troubled Company Reporter-Latin America on
Feb. 6, 2014, Denyse Godoy and Stephan Nielsen at Bloomberg News
said that Cia. de Saneamento Basico do Estado de Sao Paulo said it
will cut bills for customers who save water amid a drought that's
draining dams to a record low.  Sabesp is offering business and
residential clients in the greater Sao Paulo area a 30 percent
discount through August if they cut their monthly usage 20 percent
below their average between February 2013 and January 2014, the
Sao Paulo-based company said in a statement, according to
Bloomberg News.  "Investors are concerned about the impact that
the discount and the rationing may have over the company's
revenue," Bloomberg News quoted Sandro Fernandes, an analyst at
the brokerage firm Geraldo Correa, as saying.  "If reservoir
levels fall further, Sabesp will just run out of the product it
sells," Mr. Fernandes said, Bloomberg News related.  Bloomberg
News disclosed that Sabesp's net revenue may be BRL360 million
(US$148.3 million) lower than the previously estimated BRL9.57
billion because of the discount for clients, according to a
research note from Goldman Sachs Group Inc.

Meanwhile, Bloomberg News notes that the drought is affecting
operations at companies.  Beer producer Ambev SA (ABEV)
interrupted operations at a factory and paper maker Rigesa
Celulose Papel e Embalagens Ltda. shifted some production
elsewhere because there isn't enough river water to supply their
facilities, Mr. Lahoz said, Bloomberg News relays.  Both sites
operate in the state's interior Campinas region, where the drought
is having a greater impact on industry than in Sao Paulo city.

Most companies in the Campinas region "are in a state of alert,"
Mr. Lahoz said, Bloomberg News relates.

Companies including Petroleo Brasileiro SA (PETR4) that have
petrochemical factories in the interior city of Paulinia and
require large volumes of water face "extreme difficulties," Mr.
Lahoz said, Bloomberg News discloses.

The Campinas region, which gets 60 percent of its water from the
Cantareira system, is receiving 3 cubic meters of flow a second.
That's not enough to meet demand from industry, Alexandre Vilela,
technical manager for Consorcio PCJ, told Bloomberg in a telephone
interview.  Factories in the region need to use about seven times
more chlorine to purify water from low-running rivers, raising
their costs, Mr. Vilela added, Bloomberg News notes.

                  About Companhia de Saneamento

Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP)
provides basic and environmental sanitation services; and supplies
treated water on a wholesale basis to residential, commercial,
industrial, and municipal customers in the State of Sao Paulo.

As reported in the Troubled Company Reporter-Latin America on Nov.
14, 2013, Standard & Poor's Ratings Services affirmed its 'BB+'
global scale and 'brAA+' national scale corporate credit ratings
on Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP).
The outlook on both scales remains positive.  The company's stand-
alone credit profile (SACP) is 'bb+'.


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


ADVISION MEDIA: Shareholder Receives Wind-Up Report
---------------------------------------------------
The shareholder of Advision Media Holdings Limited received on
Jan. 14, 2014, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

          Cheng Haixia
          Jianguo West Road, Huangpu
          Building 804, No.5, Lane 91
          District, Shanghai, PRC
          Telephone: (021) 5123 2019


AERO LTD: Shareholders Receive Wind-Up Report
---------------------------------------------
The shareholders of Aero Ltd received on Jan. 7, 2014, the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

          Marcio De Almeida Libanio
          Walkers
          190 Elgin Avenue, George Town
          Grand Cayman KY1-9001
          Cayman Islands
          Telephone: (345) 914 6365


BEGBIES TRAYNOR: Shareholders Receive Wind-Up Report
----------------------------------------------------
The shareholders of Begbies Traynor Cayman Limited received on
Jan. 29, 2014, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

          Mike Saville
          c/o John Royle
          Grant Thornton Specialist Services (Cayman) Limited
          10 Market Street
          PO Box 765, Camana Bay
          Grand Cayman, KY1 9006
          Cayman Islands
          Telephone: +1 (345) 769 7206
          Facsimile: +1 (345) 949 7120


BLACKSTONE SC: Shareholders Receive Wind-Up Report
--------------------------------------------------
The shareholders of Blackstone SC Offshore Fund Ltd. received on
Dec. 16, 2013, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

          Patrick Agemian
          Walkers
          190 Elgin Avenue, George Town
          Grand Cayman KY1-9001
          Cayman Islands
          Telephone: (345) 914 6365


EBF HOLDING: Shareholders Receive Wind-Up Report
------------------------------------------------
The shareholders of EBF Holding Limited received on Jan. 7, 2014,
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidators are:

          Wellgrace Limited
          Choi Siu Ling
          Telephone: +852 3583 1540
          Facsimile: +852 2543 2625
          Units 2201-2, 22nd Floor
          FWD Financial Centre
          308 Des Voeux Road Central
          Hong Kong


GOLD ALLIANCE: Shareholders Receive Wind-Up Report
--------------------------------------------------
The shareholders of Gold Alliance Limited received on Jan. 7,
2014, the liquidator's report on the company's wind-up proceedings
and property disposal.

The company's liquidator is:

          Marcio De Almeida Libanio
          Walkers
          190 Elgin Avenue, George Town
          Grand Cayman KY1-9001
          Cayman Islands
          Telephone: (345) 914 6365


GREEN ALLIANCE: Shareholders Receive Wind-Up Report
---------------------------------------------------
The shareholders of Green Alliance Limited received on Jan. 7,
2014, the liquidator's report on the company's wind-up proceedings
and property disposal.

The company's liquidator is:

          Marcio De Almeida Libanio
          Walkers
          190 Elgin Avenue, George Town
          Grand Cayman KY1-9001
          Cayman Islands
          Telephone: (345) 914 6365


J. ZOROASTER: Sole Member Receives Wind-Up Report
-------------------------------------------------
The sole member of J. Zoroaster Co. Ltd. received on Dec. 2, 2013,
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

          Lion International Management Limited
          Craigmuir Chambers,
          P.O. Box 71, Road Town
          Tortola
          British Virgin Islands


JEMEKK TOTAL: Shareholders Receive Wind-Up Report
-------------------------------------------------
The shareholders of Jemekk Total Return Canada Ltd. received on
Jan. 7, 2014, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

          Avalon Ltd.
          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


LONGWOOD FINANCE: Shareholder Receives Wind-Up Report
-----------------------------------------------------
The shareholder of Longwood Finance Fund International Ltd
received on Jan. 13, 2014, the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

          Ogier
          c/o Kellian Hutchinson
          Telephone: (345) 815 1418
          Facsimile: (345) 949-9877


NOELLE ENTERTAINMENT: Members Receive Wind-Up Report
----------------------------------------------------
The members of Noelle Entertainment Limited received on Nov. 13,
2013, the liquidator's report on the company's wind-up proceedings
and property disposal.

The company's liquidator is:

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


OPTIMA ABSOLUTE: Shareholders Receive Wind-Up Report
----------------------------------------------------
The shareholders of Optima Absolute Return Special Investments
Fund Ltd. received on Jan. 13, 2014, the liquidator's report on
the company's wind-up proceedings and property disposal.

The company's liquidator is:

          Gene Dacosta
          c/o Tania Dons
          Telephone: (345) 814 7766
          Facsimile: (345) 945 3902
          P.O. Box 2681 Grand Cayman KY1-1111
          Cayman Islands


ORBCOMM ASIA: Shareholder Receives Wind-Up Report
-------------------------------------------------
The shareholder of Orbcomm Asia Limited received on Jan. 14, 2014,
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

          Hyung Jin Song
          Geoville, 12th Floor
          49-6 Jamwon-dong, Seocho-gu
          Seoul, 137-906
          Korea
          Telephone: 82-10-7284-8998
          Facsimile: 822-3444-7312


PEACEMAKER CORPORATION: Shareholders Receive Wind-Up Report
-----------------------------------------------------------
The shareholders of Peacemaker Corporation LLC received on Jan. 9,
2014, the liquidator's report on the company's wind-up proceedings
and property disposal.

The company's liquidator is:

          Christopher Tushingham
          Telephone: 00 44 1624 630 775
          Soalt y Cottier
          The Dhoor Lezayre
          Isle of Man


SEA ELECTRONIC: Shareholder Receives Wind-Up Report
---------------------------------------------------
The shareholder of Sea Electronic Aids Ltd received on Jan. 19,
2014, the liquidator's report on the company's wind-up proceedings
and property disposal.

The company's liquidators are:

          Probitas Limited
          Equitas Limited
          Clifton House, 75 Fort Street
          P.O. Box 1350 Grand Cayman KY1-1108
          Cayman Islands


SKYSILVER LIMITED: Shareholders Receive Wind-Up Report
------------------------------------------------------
The shareholders of Skysilver Limited received on Jan. 7, 2014,
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

          Marcio De Almeida Libanio
          Walkers
          190 Elgin Avenue, George Town
          Grand Cayman KY1-9001
          Cayman Islands
          Telephone: (345) 914 6365


TUTOR-CAYMAN: Sole Shareholder Receives Wind-Up Report
------------------------------------------------------
The sole shareholder of Tutor-Cayman, Ltd. received on Jan. 14,
2014, the liquidator's report on the company's wind-up proceedings
and property disposal.

The company's liquidator is:

          John D. Barrett
          c/o 15901 Olden Street,
          Symlar California 91342
          United States of America
          Telephone: +818 362 8391
          Facsimile: +818 364 8451


UBS ALPHA: Shareholders Receive Wind-Up Report
----------------------------------------------
The shareholders of UBS Alpha Capture Global Equity Market Neutral
Fund Ltd received on Jan. 30, 2014, the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

          UBS Global Asset Management (Americas) Inc
          Barnaby Gowrie
          Telephone: +1 (345) 914 6365


VIETNAM ENERGY: Shareholders Receive Wind-Up Report
---------------------------------------------------
The shareholders of Vietnam Energy Limited received on Jan. 20,
2014, the liquidator's report on the company's wind-up proceedings
and property disposal.

The company's liquidator is:

          Bastiaan Johan Van Rooijen
          c/o Maples and Calder, Attorneys-at-law
          The Center, 53rd Floor
          99 Queen's Road Central
          Hong Kong


XANTHOS FUTURES: Shareholders Receive Wind-Up Report
----------------------------------------------------
The shareholders of Xanthos Futures Partners Limited received on
Jan. 7, 2014, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

          Jeffrey Skinner
          Telephone: +350 200 52545
          Facsimile: +350 200 52546
          Suite 207 Neptune House, Marina Bay
          Gibraltar


XANTHOS FUTURES PORTFOLIO: Shareholders Receive Wind-Up Report
--------------------------------------------------------------
The shareholders of Xanthos Futures Portfolio SPC received on
Jan. 7, 2014, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

          Jeffrey Skinner
          Telephone: +350 200 52545
          Facsimile: +350 200 52546
          Suite 207 Neptune House, Marina Bay
          Gibraltar


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J A M A I C A
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JAMAICA: To Get US$60MM IDB Loan to Improve Competitiveness
-----------------------------------------------------------
The Inter-American Development Bank (IDB) disclosed the approval
of a US$60 million loan to Jamaica to finance the third phase of a
program to support Jamaica's macroeconomic sustainability,
continue implementation of a national competitiveness framework,
simplify tax administration, reduce the government's budget
support for state-owned enterprises, improve the private sector's
access to financial markets, and strengthen land property rights.

This is the third operation of a programmatic policy-based loan,
which provides flexible support for institutional and policy
reforms by means of a fast disbursement of resources.

The objective of the loan program is to improve competitiveness by
promoting reforms that expand access to credit and reduce
distortions in Jamaica's tax system, reduce Jamaican Government
participation in inefficient enterprises and projects, and lower
business costs through more efficient land titling and
registration.

The program's direct beneficiaries will include: private sector
companies, especially small- and medium-sized enterprises (SMEs)
that are the most adversely affected by the current framework for
doing business and accessing finance; the informal sector that
lacks incentives for participation in Jamaica's formal economy;
and individual entrepreneurs that will benefit with direct access
to finance.

The loan is for a 20-year term, with a 5.5 -year grace period, and
at an interest rate based on LIBOR.  The Planning Institute of
Jamaica will be in charge of the program.


                            ***********


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


                            ***********


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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