TCRLA_Public/141114.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

            Friday, November 14, 2014, Vol. 15, No. 226


                            Headlines



A N T I G U A  &  B A R B U D A

CARIBBEAN DEVELOPMENT: APUA Will Return Services to Jolly Harbor


B O L I V I A

BANCO MERCANTIL: S&P Revises Outlook to Stable & Affirms 'BB-' ICR


B R A Z I L

BOA VISTA: Brazil Super. Court Upholds Bank Credit Scoring System
JBS SA: Beats Profit Forecasts as Cattle Prices Jump & Costs Fall
OGX PETROLEO: Batista Awaits Insider-Trading Case


C A Y M A N  I S L A N D S

ELITE ORIENT: Commences Liquidation Proceedings
EVO CAYMAN: Commences Liquidation Proceedings
KAIROS FUND: Placed Under Voluntary Wind-Up
LDK SOLAR: Combined Plan, Disclosures Hearing Set for Nov. 21
LDK SOLAR: Obtains Provisional Ch. 15 Relief

LDK SOLAR: Can Employ Epiq as Claims & Noticing Agent
LDK SOLAR: Incurs $1.6 Billion Net Loss in 2013
LDK SOLAR: Hires Sidley Austin as Attorneys
LDK SOLAR: Hires Young Conaway as Co-counsel
NATURAL RISK: Creditors' Proofs of Debt Due Nov. 24

NATURAL RISK: Shareholders to Hold Final Meeting on Nov. 25
NAU GENERAL: Creditors' Proofs of Debt Due Nov. 19
NIVEST LIMITED: Commences Liquidation Proceedings
NRF TRADING: Creditors' Proofs of Debt Due Nov. 24
NRF TRADING: Shareholders to Hold Final Meeting on Nov. 25

OPTIMAL ASIA: Creditors' Proofs of Debt Due Nov. 19
PROSPERITY BRIDGE: Creditors' Proofs of Debt Due Nov. 20
PSAR COMMODITY: Commences Liquidation Proceedings
RUSSIA REAL: Commences Liquidation Proceedings
VMS STRATEGIC: Commences Liquidation Proceedings


C H I L E

CHILE: More than 100 Companies Present Mine-site Closure Plans
NII HOLDINGS: Units Enters Deal For Nextel Chile Acquisition


D O M I N I C A N   R E P U B L I C

DOMINICAN REP: Debt Could Reach 50% of GDP by Yearend, IMF Says


M E X I C O

MEXICO: Exec. Dir. Welcome Rebound in Economic Activity says IMF


                            - - - - -


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


CARIBBEAN DEVELOPMENT: APUA Will Return Services to Jolly Harbor
----------------------------------------------------------------
Antigua Observer reports that the Antigua Public Utilities
Authority (APUA) will return electricity and telephone services to
the Jolly Habor complex following negotiations.

Managing Director of Caribbean Development (Antigua) Limited
(CDL), Ronald Maginley, said his company will make a sizeable
payment to APUA in exchange for the return of services, according
to Antigua Observer.  On Nov. 11, Mr. Maginley met with Utilities
Minister Robin Yearwood and two representatives from APUA to
discuss the CDL arrears that led to a total disconnection of
services at Jolly Harbor earlier this week, the report discloses.

The report notes that Minister Yearwood said the company will be
holding further talks with APUA next week to discuss the
outstanding payments and other technical issues facing the
company, including the disbursement of electricity in the Jolly
Harbor complex.

As it stands, APUA supplies CDL with electricity, which the
company must then re-distribute throughout the complex, the report
relays.  Mr. Maginley said this one-meter system leaves CDL
responsible for all the electricity and water services distributed
to the tenants of the Jolly Harbor complex, regardless of whether
or not said tenant has paid for the service, the report discloses.

This has led to a long-running dispute about APUA needing to come
in and supply homeowners directly, the report adds.


=============
B O L I V I A
=============


BANCO MERCANTIL: S&P Revises Outlook to Stable & Affirms 'BB-' ICR
------------------------------------------------------------------
Standard & Poor's Rating Services revised its outlook on Banco
Mercantil Santa Cruz (BMSC) to stable from negative.  At the same
time, S&P affirmed its 'BB-' long-term and 'B' short-term issuer
credit ratings on BMSC.

"The bank has maintained its current strategy and business
stability and adequate asset quality metrics, despite the
implementation of the banking law in 2013.  Furthermore, it has
maintained its leading position and the Bolivian banking system
and sufficient internal capital generation, which should be
sufficient to maintain our RAC ratio above 3% over the next 12 to
18 months," said Standard & Poor's credit analyst Jesus Sotomayor.

The ratings on BMSC reflect its "strong" business position, "weak"
capital and earnings, "adequate" risk position, "average" funding
and "adequate" liquidity.  The bank's stand-alone credit profile
(SACP) is 'bb-'.

"We use our Banking Industry Country Risk Assessment (BICRA) to
determine bank's anchor, the starting point in assigning an issuer
credit rating.  Our anchor for a commercial bank operating in
Bolivia is 'bb-'.  We view Bolivia's economic risks as relatively
high, which mostly reflects the country's still vulnerable
economic structure and low income levels.  Despite recent solid
economic performance and the government's commitment to
macroeconomic stability, Bolivia remains vulnerable to commodities
price fluctuations, and the fragmented political landscape
continues to discourage private investment.  Also, Bolivia's low
per capita income hinders private sector debt capacity and sound
credit penetration in lower income sectors.  While the government
has successfully reduced the banking system's dollarization and,
therefore, has limited credit risks, regulators still must address
rapid credit expansion in order to maintain stability in the
system and deter potential credit bubbles," S&P said.

"We have revised our industry risk trend to stable from negative.
We incorporate the potential risks associated with appropriate
risk pricing for loans, and a gradual decline in banks'
profitability and capital build up that will likely result from
the new financial services law, by revising our competitive
dynamics assessment to "very high risk" from "high risk."  In the
next two years, we don't expect significant regulatory
improvements that could result in an improved institutional
framework.  We expect core deposits to continue to be the banking
industry's main funding source, representing above 80% of
systemwide loans in the next three years.  And deposits could
increase by 12%-15% over the next two years," S&P added.


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


BOA VISTA: Brazil Super. Court Upholds Bank Credit Scoring System
-----------------------------------------------------------------
Mario Sergio Lima and Francisco Marcelino at Bloomberg News report
that Brazil's Superior Tribunal of Justice ruled that lenders can
keep a credit rating system that the central bank says has helped
lower interest rates.

STJ, as the court is known, ruled in favor of banks, saying in its
decision that lenders must say how they determine a potential
customer's credit rating when asked, according to Bloomberg News.
People can sue banks if information used to rate their credit is
outdated, the court said in its ruling, Bloomberg News relates.
The ruling can be appealed to the Supreme Court.

Under the current law, lenders rate customers according to their
financial situation and debt levels, using a credit scoring system
that has eight categories ranging from H to AA, Bloomberg News
notes.  The central bank requires lenders to set aside the
equivalent of 100 percent of the credit tapped by borrowers with
an H score, the worst level, Bloomberg News relates.  Banks don't
need to make provisions for top-rated clients.

"The credit score system is not a database, but the use of
information that's publicly available," central bank attorney
Isaac Sidney Menezes said, according to court testimony that he
provided before the ruling, Bloomberg News notes.  "This avoids
improper credit and gives a better perception of risk," Mr.
Menezes added.

The case is Anderson Guilherme Prado Soares v Boa Vista Servicos
SA, 1.419.697-RS.


JBS SA: Beats Profit Forecasts as Cattle Prices Jump & Costs Fall
-----------------------------------------------------------------
Gerson Freitas Jr. at Bloomberg News reports that JBS SA exceeded
analysts' estimates to post record quarterly profit on surging
cattle prices and lower feed costs.

Net income rose to BRL1.09 billion (US$481 million) from BRL220
million a year ago, the Sao Paulo-based company said in a
statement obtained by Bloomberg News.  Adjusted earnings per share
of 37.8 centavos exceeded the 24-centavo average estimate of three
analysts tracked by Bloomberg.

JBS SA, which spent US$17 billion on acquisitions in the past
decade, benefited from export demand for beef and poultry as well
as declining costs for corn and soybeans used as feed, Bloomberg
News relates.  Cattle shortages pushed up prices for livestock
that JBS processes at its slaughterhouses, helping earnings before
interest, taxes, depreciation and amortization to more than
double, Bloomberg News relates.  The Brazilian real's 9.5 percent
slump during the quarter boosted exports revenue.

"The ongoing operating improvements made by the JBS SA units in
Brazil and worldwide throughout 2014 also allowed the company to
significantly reduce its degree of leverage," the company said in
a statement accompanying the results, Bloomberg News relates.

Pilgrim's Pride, the Greeley, Colorado-based poultry and
processed-food company controlled by JBS SA, reported on Oct. 29 a
95 percent jump in third-quarter Ebitda to US$442 million, the
highest on record according to data compiled by Bloomberg.

                          About JBS SA

JBS SA is a multinational food processing company, producing
factory processed beef, chicken and pork, and also selling by-
products from the processing of these meats.  It is headquartered
in Sao Paulo. It was founded in 1953 in Anapolis, Goias. The
company has 150 industrial plants around the world.

                          *     *     *

As reported in the Troubled Company Reporter-Latin America on
Troubled Company Reporter-Latin America on Oct. 21, 2014, Standard
& Poor's Ratings Services revised its outlook on the global scale
corporate credit rating on JBS S.A. and its subsidiary, JBS USA,
to positive from stable.


OGX PETROLEO: Batista Awaits Insider-Trading Case
-------------------------------------------------
Juan Pablo Spinetto at Bloomberg News reports that Eike Batista,
once Brazil's richest man, is poised to stand trial for alleged
capital-market crimes in Rio de Janeiro after losing an appeal for
a change of jurisdiction, the presiding judge said.

Judge Flavio Roberto de Souza from Rio's Third Federal Criminal
Tribunal expects to hear testimony from Mr. Batista and witnesses
during the trial scheduled to start at 2 p.m. local time on Nov.
18, he said in a telephone interview with Bloomberg News.  About
BRL230 million (US$89.6 million) in Mr. Batista's Brazilian bank
accounts remains frozen after the judiciary gained access to his
tax and banking records, he said, Bloomberg News notes.  Mr.
Batista's lawyer Sergio Bermudes said that his client is innocent.

"We only need to blow the whistle and the game begins," Bloomberg
News quoted Judge Souza as saying.  "The process is going as
expected and so far everything suggests that the hearing will take
place," Judge Souza added.

Bloomberg News relates that Mr. Batista's collection of energy,
commodities and logistics startups collapsed last year, forcing
his oil, shipbuilding and main mining ventures into bankruptcy
protection amid mounting debt, a shortfall in revenue and an
investor confidence crisis.  In September, federal prosecutors in
Rio and Sao Paulo accused the 58-year-old of breaching rules when
he sold shares of his OGX and OSX units in three instances during
2013, Bloomberg News notes.

When approached by Bloomberg News at the entrance of a Japanese
restaurant in the Rio neighborhood of Botafogo, Mr. Batista said
he was in "restructuring" mode.

Unshaven and dressed in blue jeans and a denim shirt, the
entrepreneur who lost more than US$30 billion of personal wealth
in less than two years, declined to elaborate as he stood outside
the restaurant, Bloomberg News relates.  Mr. Batista's advisers
later said he was unavailable to speak about the insider-trading
case.

                          Latest Deal

Bloomberg News notes that Mr. Batista, who disappeared from the
public eye and the conference circuit when his flagship oil
company began collapsing, said in a statement this week that he
signed an agreement with Swiss real-estate investor Acron AG to
resume the joint development of the Gloria Hotel in Rio.  Mr.
Batista began refurbishing the traditional property in 2011 and
agreed to sell it to the Zurich-based group earlier this year,
Bloomberg News relates.

While this is the first insider-trading case Judge Souza is set to
rule on, he said he expects to have a verdict by early 2015 after
new witnesses were called to participate, Bloomberg News notes.
If found guilty, Mr. Batista faces as long as 13 years in prison
and the mantle of becoming the first person in the country to
serve jail time for capital-market crimes, Bloomberg News relays.

"I will be ruling on this process in February or March, it won't
take longer," Judge Souza said, Bloomberg News discloses.  The
defense "didn't manage to get anything they wanted in terms of
moving the case out, unfreezing assets or changing the date of the
hearing," Judge Souza added.

Bloomberg News notes that Mr. Batista, who in 2011 vowed to become
the richest person in the world, told Folha de Sao Paulo in
September that he has a negative net worth of US$1 billion.  Mr.
Batista also told the newspaper he never had any intention of
deceiving investors and didn't use privileged information in doing
business, Bloomberg News adds.

                     About OGX Petroleo

Based in Rio de Janeiro, Brazil, OGX Petroleo e Gas Participacoes
S.A., now known as Oleo e Gas, 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 US$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 US$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 US$500
million in new funds.  OGX said Oct. 29, 2013 that the talks
concluded without an agreement.


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


ELITE ORIENT: Commences Liquidation Proceedings
-----------------------------------------------
On Aug. 31, 2014, the shareholder of Elite Orient 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 liquidators are:

          Mr. David Lui
          Mr. Ng Kwong Kei
          Jardine House, Suits 4112-19, 41st Floor
          1 Connaught Place
          Central
          Hong Kong
          Telephone: +852 29962166 / +852 29962184
          Facsimile: +852 29962101


EVO CAYMAN: Commences Liquidation Proceedings
---------------------------------------------
On Sept. 30, 2014, the sole shareholder of Evo Cayman Holding Ltd.
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:

          Mark S. Kuskin
          2678 Basil Lane
          Los Angeles California 90077
          USA


KAIROS FUND: Placed Under Voluntary Wind-Up
-------------------------------------------
On Aug. 5, 2014, the sole shareholder of Kairos Fund Ltd. 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:

          Avalon Ltd.
          Reference: GL
          Landmark Square, 1st Floor, 64 Earth Close
          P.O. Box 715, George Town
          Grand Cayman KY1-1107
          Cayman Islands
          Telephone: +1 (345) 769-4422
          Facsimile: +1 (345) 769-9351


LDK SOLAR: Combined Plan, Disclosures Hearing Set for Nov. 21
-------------------------------------------------------------
Judge Peter J. Walsh of the U.S. Bankruptcy Court for the District
of Delaware will convene a hearing on Nov. 21, 2014, at 2:00 p.m.
(ET) to consider the adequacy of the disclosure statement and the
confirmation of the plan filed by LDK Solar Systems, Inc., and its
debtor affiliates.

At its core, the Plan provides for the release of Senior Notes
Guarantee Claims against the Debtors in exchange for consideration
to be provided by LDK Solar CO., Ltd., pursuant to the terms of a
scheme of arrangement between (among others) LDK Parent and the
holders of Senior Notes under section 86 of the Companies Law.

Jane Sullivan, executive vice president and director of
restructuring services with Epiq Bankruptcy Solutions, LLC, told
the Court 97.94% of Class C (Senior Notes Guarantee Claims)
holding RMB1,475,910,000 voted to accept the Plan, while 2.06% of
the holders of Senior Notes Guarantee Claims holding RMB4,000,000
voted to reject the Plan.  The only class of claims entitled to
vote on the Plan was Class C.

Objections to the confirmation of the Plan and the approval of the
Disclosure Statement are due today, Nov. 14.  The Debtors,
or any other party supporting confirmation of the Plan and
approval of the Disclosure Statement, must file a response to any
objections no later than Nov. 18.

Judge Walsh held that if the Plan is confirmed on or before
Dec. 31, the Debtors will be excused from the requirement to file
their schedules of assets and liabilities and statements of
financial affairs.  The U.S. Trustee will not be required to
schedule a meeting of creditors pursuant to Section 341(a) of the
Bankruptcy Code unless a Plan is not confirmed by Dec. 31.

A full-text copy of the Disclosure Statement dated Sept. 17, 2014,
is available at http://bankrupt.com/misc/LDKSYSTEMSds0917.pdf

                         About LDK Solar

LDK Solar Co., Ltd. -- http://www.ldksolar.com-- based in Hi-
Tech Industrial Park, Xinyu City, Jiangxi Province, People's
Republic of China, is a vertically integrated manufacturer of
photovoltaic products, including high-quality and low-cost
polysilicon, solar wafers, cells, modules, systems, power
projects and solutions.

LDK Solar was incorporated in the Cayman Islands on May 1, 2006,
by LDK New Energy, a British Virgin Islands company wholly owned
by Xiaofeng Peng, LDK's founder, chairman and chief executive
officer, to acquire all of the equity interests in Jiangxi LDK
Solar from Suzhou Liouxin Industry Co., Ltd., and Liouxin
Industrial Limited.

LDK Solar CO., Ltd. in provisional liquidation and its Joint
Provisional Liquidators, Tammy Fu and Eleanor Fisher, both of
Zolfo Cooper (Cayman) Limited, on Oct. 22 disclosed that on
October 21, 2014 three U.S. subsidiaries of LDK Solar, LDK Solar
Systems, Inc., LDK Solar USA, Inc. and LDK Solar Tech USA, Inc.
filed voluntary petitions to reorganize under Chapter 11 of the
United States Bankruptcy Code in the United States Bankruptcy
Court for the District of Delaware.  The lead case is In re  LDK
Solar Systems, Inc. (Bankr. D. Del., Case No. 14-12384).

The U.S. Debtors' General Counsel is Jessica C.K. Boelter, Esq.,
at Sidley Austin LLP, in Chicago, Illinois.  The U.S. Debtors'
Delaware   counsel is Robert S. Brady, Esq., Maris J. Kandestin,
Esq., and Edmon L. Morton, Esq., at Young, Conaway, Stargatt &
Taylor, LLP, in Wilmington, Delaware.  The U.S. Debtors' financial
advisor is Jefferies LLC.  The Debtors' voting and noticing agent
is Epiq Bankruptcy Solutions, LLC.

The U.S. Debtors commenced the Chapter 11 Cases in order to
implement the prepackaged plan of reorganization, with respect to
which the U.S. Debtors launched a solicitation of votes on
September 17, 2014 from the holders of LDK Solar's 10% Senior
Notes due 2014, as guarantors of the Senior Notes, and required
such holders of the Senior Notes to return their ballots by
October 15, 2014.  Holders of the Senior Notes voted
overwhelmingly in favor of accepting the Prepackaged Plan.

Contemporaneously with the filing of the Chapter 11 Cases, on
October 21, 2014, LDK Solar filed a petition in the same U.S.
Bankruptcy Court for recognition of the provisional liquidation
proceeding in the Grand Court of the Cayman Islands, as previously
announced by LDK Solar, as a foreign main proceeding under Chapter
15 of the United States Bankruptcy Code.  The Chapter 15 case is
In re LDK Solar CO., Ltd. (Bankr. D. Del., Case No. 14-12387).


LDK SOLAR: Obtains Provisional Ch. 15 Relief
--------------------------------------------
Judge Peter J. Walsh of the U.S. Bankruptcy Court for the District
of Delaware issued an order granting LDK Solar Co., Ltd.,
provisional relief under Chapter 15 of the Bankruptcy Code.

Judge Walsh ruled that the order issued by the Cayman Islands
court is enforced on an interim basis and the commencement or
continuation of any actions against LDK Parent or its assets is
stayed.  Until the U.S. Court issues an order recognizing the
Cayman proceeding as a foreign main proceeding, all entities,
other than the foreign representatives, are enjoined from, among
other things, securing or executing against any asset or property
of LDK Parent or taking any action in the United States of any
judicial, quasi-judicial, administrative or monetary judgment,
assessment or order or arbitration award against the liquidators,
LDK Parent or its property within the territorial jurisdiction of
the United States.

                         About LDK Solar

LDK Solar Co., Ltd. -- http://www.ldksolar.com-- based in Hi-
Tech Industrial Park, Xinyu City, Jiangxi Province, People's
Republic of China, is a vertically integrated manufacturer of
photovoltaic products, including high-quality and low-cost
polysilicon, solar wafers, cells, modules, systems, power
projects and solutions.

LDK Solar was incorporated in the Cayman Islands on May 1, 2006,
by LDK New Energy, a British Virgin Islands company wholly owned
by Xiaofeng Peng, LDK's founder, chairman and chief executive
officer, to acquire all of the equity interests in Jiangxi LDK
Solar from Suzhou Liouxin Industry Co., Ltd., and Liouxin
Industrial Limited.

LDK Solar CO., Ltd. in provisional liquidation and its Joint
Provisional Liquidators, Tammy Fu and Eleanor Fisher, both of
Zolfo Cooper (Cayman) Limited, on Oct. 22 disclosed that on
October 21, 2014 three U.S. subsidiaries of LDK Solar, LDK Solar
Systems, Inc., LDK Solar USA, Inc. and LDK Solar Tech USA, Inc.
filed voluntary petitions to reorganize under Chapter 11 of the
United States Bankruptcy Code in the United States Bankruptcy
Court for the District of Delaware.  The lead case is In re  LDK
Solar Systems, Inc. (Bankr. D. Del., Case No. 14-12384).

The U.S. Debtors' General Counsel is Jessica C.K. Boelter, Esq.,
at Sidley Austin LLP, in Chicago, Illinois.  The U.S. Debtors'
Delaware   counsel is Robert S. Brady, Esq., Maris J. Kandestin,
Esq., and Edmon L. Morton, Esq., at Young, Conaway, Stargatt &
Taylor, LLP, in Wilmington, Delaware.  The U.S. Debtors' financial
advisor is Jefferies LLC.  The Debtors' voting and noticing agent
is Epiq Bankruptcy Solutions, LLC.

The U.S. Debtors commenced the Chapter 11 Cases in order to
implement the prepackaged plan of reorganization, with respect to
which the U.S. Debtors launched a solicitation of votes on
September 17, 2014 from the holders of LDK Solar's 10% Senior
Notes due 2014, as guarantors of the Senior Notes, and required
such holders of the Senior Notes to return their ballots by
October 15, 2014.  Holders of the Senior Notes voted
overwhelmingly in favor of accepting the Prepackaged Plan.

Contemporaneously with the filing of the Chapter 11 Cases, on
October 21, 2014, LDK Solar filed a petition in the same U.S.
Bankruptcy Court for recognition of the provisional liquidation
proceeding in the Grand Court of the Cayman Islands, as previously
announced by LDK Solar, as a foreign main proceeding under Chapter
15 of the United States Bankruptcy Code.  The Chapter 15 case is
In re LDK Solar CO., Ltd. (Bankr. D. Del., Case No. 14-12387).


LDK SOLAR: Can Employ Epiq as Claims & Noticing Agent
-----------------------------------------------------
Judge Peter J. Walsh of the U.S. Bankruptcy Court for the District
of Delaware authorized LDK Solar Systems, Inc., et al., to employ
Epiq Bankruptcy Solutions, LLC, as claims and noticing agent.

LDK Solar Co., Ltd. -- http://www.ldksolar.com-- based in Hi-
Tech Industrial Park, Xinyu City, Jiangxi Province, People's
Republic of China, is a vertically integrated manufacturer of
photovoltaic products, including high-quality and low-cost
polysilicon, solar wafers, cells, modules, systems, power
projects and solutions.

LDK Solar was incorporated in the Cayman Islands on May 1, 2006,
by LDK New Energy, a British Virgin Islands company wholly owned
by Xiaofeng Peng, LDK's founder, chairman and chief executive
officer, to acquire all of the equity interests in Jiangxi LDK
Solar from Suzhou Liouxin Industry Co., Ltd., and Liouxin
Industrial Limited.

LDK Solar CO., Ltd. in provisional liquidation and its Joint
Provisional Liquidators, Tammy Fu and Eleanor Fisher, both of
Zolfo Cooper (Cayman) Limited, on Oct. 22 disclosed that on
October 21, 2014 three U.S. subsidiaries of LDK Solar, LDK Solar
Systems, Inc., LDK Solar USA, Inc. and LDK Solar Tech USA, Inc.
filed voluntary petitions to reorganize under Chapter 11 of the
United States Bankruptcy Code in the United States Bankruptcy
Court for the District of Delaware.  The lead case is In re  LDK
Solar Systems, Inc. (Bankr. D. Del., Case No. 14-12384).

The U.S. Debtors' General Counsel is Jessica C.K. Boelter, Esq.,
at Sidley Austin LLP, in Chicago, Illinois.  The U.S. Debtors'
Delaware   counsel is Robert S. Brady, Esq., Maris J. Kandestin,
Esq., and Edmon L. Morton, Esq., at Young, Conaway, Stargatt &
Taylor, LLP, in Wilmington, Delaware.  The U.S. Debtors' financial
advisor is Jefferies LLC.  The Debtors' voting and noticing agent
is Epiq Bankruptcy Solutions, LLC.

The U.S. Debtors commenced the Chapter 11 Cases in order to
implement the prepackaged plan of reorganization, with respect to
which the U.S. Debtors launched a solicitation of votes on
September 17, 2014 from the holders of LDK Solar's 10% Senior
Notes due 2014, as guarantors of the Senior Notes, and required
such holders of the Senior Notes to return their ballots by
October 15, 2014.  Holders of the Senior Notes voted
overwhelmingly in favor of accepting the Prepackaged Plan.

Contemporaneously with the filing of the Chapter 11 Cases, on
October 21, 2014, LDK Solar filed a petition in the same U.S.
Bankruptcy Court for recognition of the provisional liquidation
proceeding in the Grand Court of the Cayman Islands, as previously
announced by LDK Solar, as a foreign main proceeding under Chapter
15 of the United States Bankruptcy Code.  The Chapter 15 case is
In re LDK Solar CO., Ltd. (Bankr. D. Del., Case No. 14-12387).


LDK SOLAR: Incurs $1.6 Billion Net Loss in 2013
-----------------------------------------------
LDK Solar Co., Ltd., filed with the U.S. Securities and Exchange
Commission its annual report on Form 20-F disclosing a net loss of
$1.64 billion on $598.24 million of total net sales for the year
ended Dec. 31, 2013, compared to a net loss of $1.05 billion on
$862.88 million of total net sales during the prior year.

As of Dec. 31, 2013, LDK Solar had $3.04 billion in total assets,
$5.14 billion in total liabilities and a $2.10 billion in total
deficit.

KPMG, in Hong Kong, China, issued a "going concern" qualification
in its report on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent accounting firm noted
that the Company has suffered recurring losses from operations,
has a net capital deficit, and has been placed into provisional
liquidation that raise substantial doubt about its ability to
continue as a going concern.

A full-text copy of the Form 20-F is available for free at:

                        http://is.gd/yhKEHp

                        About LDK Solar

LDK Solar Co., Ltd. -- http://www.ldksolar.com-- based in Hi-
Tech Industrial Park, Xinyu City, Jiangxi Province, People's
Republic of China, is a vertically integrated manufacturer of
photovoltaic products, including high-quality and low-cost
polysilicon, solar wafers, cells, modules, systems, power
projects and solutions.

LDK Solar was incorporated in the Cayman Islands on May 1, 2006,
by LDK New Energy, a British Virgin Islands company wholly owned
by Xiaofeng Peng, LDK's founder, chairman and chief executive
officer, to acquire all of the equity interests in Jiangxi LDK
Solar from Suzhou Liouxin Industry Co., Ltd., and Liouxin
Industrial Limited.

LDK Solar in February 2014 filed in the Cayman Islands for the
appointment of provisional liquidators, four days before it was
due to make a $197 million bond repayment.  Its Joint
Provisional Liquidators are Tammy Fu and Eleanor Fisher, both of
Zolfo Cooper (Cayman) Limited, on Oct. 22.

In September 2014, LDK SOalr, LDK Silicon and LDK Silicon Holding
Co., Limited each applied to file an originating summons to
commence their restructuring proceedings in the High Court of Hong
Kong.

On Oct. 21, 2014 three U.S. subsidiaries of LDK Solar, LDK Solar
Systems, Inc., LDK Solar USA, Inc. and LDK Solar Tech USA, Inc.
filed voluntary petitions to reorganize under Chapter 11 of the
United States Bankruptcy Code in the United States Bankruptcy
Court for the District of Delaware.  The lead case is In re  LDK
Solar Systems, Inc. (Bankr. D. Del., Case No. 14-12384).

On Oct. 21, 2014, LDK Solar filed a petition in the same U.S.
Bankruptcy Court for recognition of the provisional liquidation
proceeding in the Grand Court of the Cayman Islands.  The Chapter
15 case is In re LDK Solar CO., Ltd. (Bankr. D. Del., Case No. 14-
12387).

The U.S. Debtors' General Counsel is Jessica C.K. Boelter, Esq.,
at Sidley Austin LLP, in Chicago, Illinois.  The U.S. Debtors'
Delaware   counsel is Robert S. Brady, Esq., Maris J. Kandestin,
Esq., and Edmon L. Morton, Esq., at Young, Conaway, Stargatt &
Taylor, LLP, in Wilmington, Delaware.  The U.S. Debtors' financial
advisor is Jefferies LLC.  The Debtors' voting and noticing agent
is Epiq Bankruptcy Solutions, LLC.

The U.S. Debtors commenced the Chapter 11 Cases in order to
implement the prepackaged plan of reorganization, with respect to
which the U.S. Debtors launched a solicitation of votes on
September 17, 2014 from the holders of LDK Solar's 10% Senior
Notes due 2014, as guarantors of the Senior Notes, and required
such holders of the Senior Notes to return their ballots by
October 15, 2014.  Holders of the Senior Notes voted
overwhelmingly in favor of accepting the Prepackaged Plan.


LDK SOLAR: Hires Sidley Austin as Attorneys
-------------------------------------------
LDK Solar Systems, Inc. and its debtor-affiliates seek
authorization from the U.S. Bankruptcy Court for the District of
Delaware to employ Sidley Austin LLP as attorneys, nunc pro tunc
to the Oct. 21, 2014 petition date.

The Debtors require Sidley Austin to:

   (a) provide legal advice with respect to the Debtors' powers
       and duties as debtors in possession in the continued
       operation of their business;

   (b) take all necessary action on behalf of the Debtors to
       protect and preserve the Debtors' estates, including
       prosecuting actions on behalf of the Debtors, negotiating
       any and all litigation in which the Debtors are involved
       and objecting to claims filed against the Debtors' estates;

   (c) prepare on behalf of the Debtors all necessary motions,
       answers, orders, reports and other legal papers in
       connection with the administration of the Debtors' estates;

   (d) advise the Debtors concerning, and prepare responses to,
       applications, motions, other pleadings, notices and other
       papers that may be filed by other parties in these Chapter
       11 Cases;

   (e) attend meetings and negotiate with representatives of
       creditors and other parties in interest, attend court
       hearings and advise the Debtors on the conduct of their
       Chapter 11 Cases;

   (f) perform any and all other legal services for the Debtors in
       connection with these Chapter 11 Cases and with
       implementation of the Debtors' plan of reorganization;

   (g) advise and assist the Debtors regarding all aspects of the
       plan confirmation process, including, but not limited to,
       negotiating and drafting a plan of reorganization and
       accompanying disclosure statement, securing the approval of
       a disclosure statement, soliciting votes in support of plan
       confirmation and securing confirmation of the plan;

   (h) provide legal advice and perform legal services with
       respect to matters relating to corporate governance, the
       interpretation, application or amendment of the Debtors'
       organizational documents, material contracts, and matters
       involving the fiduciary duties of the Debtors and their
       officers, directors and managers;

   (i) provide legal advice and legal services with respect to
       litigation, tax and other general non-bankruptcy legal
       issues for the Debtors to the extent requested by the
       Debtors; and

   (j) render such other services as may be in the best interests
       of the Debtors in connection with any of the foregoing and
       all other necessary or appropriate legal services in
       connection with these Chapter 11 Cases, as agreed upon by
       Sidley and the Debtors.

Sidley Austin will be paid at these hourly rates:

       Larry J. Nyhan                  $1,150
       Jessica C.K. Boelter            $825
       Matthew G. Martinez             $700
       Geoffrey M. King                $665
       Matthew E. Linder               $495
       Attorneys                       $465-$1,285
       Paraprofessionals               $250-$450

Sidley Austin will also be reimbursed for reasonable out-of-pocket
expenses incurred.

During the one-year period before the Petition Date, Sidley Austin
did not receive any payments from any of the Debtors.  Rather,
during the one-year period before the Petition Date, Sidley Austin
received payment on account of its fees and expenses from LDK
Parent, including approximately US$850,000 on account of legal
services rendered and costs and expenses incurred by Sidley Austin
in contemplation of or in connection with the filing of these
Chapter 11 Cases.

The Debtors also noted that having been engaged by LDK Parent for
an extensive period of time prior to the Petition Date, Sidley has
developed a detailed understanding of the Debtors' financial
affairs and their role within the Group's complex global
restructuring. As a result, the Debtors could not replace Sidley
without incurring severe costs in terms of the time and money that
would be required to select and educate replacement counsel at
this late stage in their prepackaged chapter 11 reorganization.

Sidley will make a reasonable effort to comply with the United
States Trustee's requests for information and additional
disclosures as set forth in the Guidelines for Reviewing
Applications for Compensation and Reimbursement of Expenses Filed
under 11 U.S.C. Sec. 330 by Attorneys in Larger Chapter 11 Cases
Effective as of November 1, 2013, both in connection with this
Application and any fee applications to be filed by Sidley in the
Chapter 11 Cases.

Jessica C.K. Boelter, a partner at Sidley Austin, assured the
Court that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and does not
represent any interest adverse to the Debtors and their estates.

The Court for the District of Delaware will hold a hearing on the
application on Nov. 21, 2014, at 2:00 p.m.  Objections, if any,
are due Nov. 14, 2014, at 4:00 p.m.

Sidley Austin can be reached at:

       Jessica C.K. Boelter, Esq.
       SIDLEY AUSTIN LLP
       One South Dearborn
       Chicago, IL 60603
       Tel: +1 (312) 853-7030
       E-mail: jboelter@sidley.com

                        About LDK Solar

LDK Solar Co., Ltd. -- http://www.ldksolar.com-- based in Hi-
Tech Industrial Park, Xinyu City, Jiangxi Province, People's
Republic of China, is a vertically integrated manufacturer of
photovoltaic products, including high-quality and low-cost
polysilicon, solar wafers, cells, modules, systems, power
projects and solutions.

LDK Solar was incorporated in the Cayman Islands on May 1, 2006,
by LDK New Energy, a British Virgin Islands company wholly owned
by Xiaofeng Peng, LDK's founder, chairman and chief executive
officer, to acquire all of the equity interests in Jiangxi LDK
Solar from Suzhou Liouxin Industry Co., Ltd., and Liouxin
Industrial Limited.

LDK Solar in February 2014 filed in the Cayman Islands for the
appointment of provisional liquidators, four days before it was
due to make a $197 million bond repayment.  Its Joint
Provisional Liquidators are Tammy Fu and Eleanor Fisher, both of
Zolfo Cooper (Cayman) Limited, on Oct. 22.

In September 2014, LDK SOalr, LDK Silicon and LDK Silicon Holding
Co., Limited each applied to file an originating summons to
commence their restructuring proceedings in the High Court of Hong
Kong.

On Oct. 21, 2014 three U.S. subsidiaries of LDK Solar, LDK Solar
Systems, Inc., LDK Solar USA, Inc. and LDK Solar Tech USA, Inc.
filed voluntary petitions to reorganize under Chapter 11 of the
United States Bankruptcy Code in the United States Bankruptcy
Court for the District of Delaware.  The lead case is In re  LDK
Solar Systems, Inc. (Bankr. D. Del., Case No. 14-12384).

On Oct. 21, 2014, LDK Solar filed a petition in the same U.S.
Bankruptcy Court for recognition of the provisional liquidation
proceeding in the Grand Court of the Cayman Islands.  The Chapter
15 case is In re LDK Solar CO., Ltd. (Bankr. D. Del., Case No. 14-
12387).

The U.S. Debtors' General Counsel is Jessica C.K. Boelter, Esq.,
at Sidley Austin LLP, in Chicago, Illinois.  The U.S. Debtors'
Delaware   counsel is Robert S. Brady, Esq., Maris J. Kandestin,
Esq., and Edmon L. Morton, Esq., at Young, Conaway, Stargatt &
Taylor, LLP, in Wilmington, Delaware.  The U.S. Debtors' financial
advisor is Jefferies LLC.  The Debtors' voting and noticing agent
is Epiq Bankruptcy Solutions, LLC.

The U.S. Debtors commenced the Chapter 11 Cases in order to
implement the prepackaged plan of reorganization, with respect to
which the U.S. Debtors launched a solicitation of votes on
September 17, 2014 from the holders of LDK Solar's 10% Senior
Notes due 2014, as guarantors of the Senior Notes, and required
such holders of the Senior Notes to return their ballots by
October 15, 2014.  Holders of the Senior Notes voted
overwhelmingly in favor of accepting the Prepackaged Plan.


LDK SOLAR: Hires Young Conaway as Co-counsel
--------------------------------------------
LDK Solar Systems, Inc. and its debtor-affiliates seek
authorization from the U.S. Bankruptcy Court for the District of
Delaware to employ Young Conaway Stargatt & Taylor, LLP as co-
counsel for the Debtors, nunc pro tunc to the Oct. 21, 2014
petition date.

The Debtors require Young Conaway to:

   (a) provide legal advice and services regarding local rules,
       practices, and procedures and providing substantive and
       strategic advice on how to accomplish the Debtors' goals in
       connection with the prosecution of these Chapter 11 Cases,
       bearing in mind that the Court relies on co-counsel such as
       Young Conaway to be involved in all aspects of each
       bankruptcy proceeding;

   (b) assist with the preparation of drafts of the petition
       packages and the various pleadings seeking "first day"
       relief filed with the Court on the Petition Date as
       co-counsel to the Debtors;

   (c) review, comment, and prepare drafts of all other documents
       to be filed with the Court as co-counsel to the Debtors;

   (d) appear in Court and at any meeting with the U.S. Trustee
       and any meeting of creditors at any given time on behalf of
       the Debtors as their co-counsel;

   (e) perform various services in connection with the
       administration of these Chapter 11 Cases, including,
       without limitation, (i) preparing agendas, certificates of
       no objection, certifications of counsel, notices of fee
       applications and hearings, and hearing binders of documents
       and pleadings, (ii) monitoring the docket for filings and
       coordinating with Sidley Austin LLP on pending matters that
       need responses, (iii) preparing and maintaining critical
       dates memoranda to monitor pending applications, motions,
       hearing dates, and other matters and the deadlines
       associated with the same, and (iv) handling inquiries and
       calls from creditors and counsel to interested parties
       regarding pending matters and the general status of these
       Chapter 11 Cases and coordinating with Sidley Austin LLP on
       any necessary responses; and

   (f) perform all other services assigned by the Debtors, in
       consultation with Sidley Austin LLP, to Young Conaway as
       co-counsel to the Debtors, and to the extent the Firm
       determines that such services fall outside of the scope of
       services historically or generally performed by Young
       Conaway as co-counsel in a bankruptcy proceeding, Young
       Conaway will file a supplemental declaration pursuant to
       Bankruptcy Rule 2014.

Young Conaway will be paid at these hourly rates:

       Robert S. Brady             $765
       Edmon L. Morton             $625
       Maris J. Kandestin          $430
       Ian J. Bambrick             $320
       Michelle Smith, paralegal   $200

Young Conaway will also be reimbursed for reasonable out-of-pocket
expenses incurred.

In accordance with the Engagement Agreement, Young Conaway
received a retainer in the amount of $50,000 (the "Initial
Retainer") on Feb. 24, 2014 in connection with the planning and
preparation of initial documents and its proposed postpetition
representation of the Debtors.  Additionally, on Sept. 3, 2014,
Young Conaway received an additional Retainer payment of $300,000
(the "Subsequent Retainer," and together with the Initial
Retainer, the "Retainer").  A part of the Retainer has been
applied to outstanding balances existing as of the Petition Date
and $262,572.42 remains, $25,000 of which is held on behalf of LDK
Solar Systems, Inc. as security for payment of chapter 11 expenses
and the remainder is held on behalf of LDK Parent as security for
payment of chapter 15 expenses.  The remainder will constitute a
general retainer as security for postpetition services and
expenses.

Robert S. Brady, a partner at Young Conaway, assured the Court
that the firm is a "disinterested person" as the term is defined
in Section 101(14) of the Bankruptcy Code and does not represent
any interest adverse to the Debtors and their estates.

The Court for the District of Delaware will hold a hearing on the
application on Nov. 21, 2014, at 2:00 p.m.  Objections, if any,
are due Nov. 14, 2014, at 4:00 p.m.

Young Conaway can be reached at:

       Robert S. Brady, Esq.
       YOUNG CONAWAY STARGATT & TAYLOR, LLP
       Rodney Square
       1000 North King Street
       Wilmington, DE 19801
       Tel: (302) 571-6690
       Fax: (302) 576-3283
       E-mail: rbrady@ycst.com

                        About LDK Solar

LDK Solar Co., Ltd. -- http://www.ldksolar.com-- based in Hi-
Tech Industrial Park, Xinyu City, Jiangxi Province, People's
Republic of China, is a vertically integrated manufacturer of
photovoltaic products, including high-quality and low-cost
polysilicon, solar wafers, cells, modules, systems, power
projects and solutions.

LDK Solar was incorporated in the Cayman Islands on May 1, 2006,
by LDK New Energy, a British Virgin Islands company wholly owned
by Xiaofeng Peng, LDK's founder, chairman and chief executive
officer, to acquire all of the equity interests in Jiangxi LDK
Solar from Suzhou Liouxin Industry Co., Ltd., and Liouxin
Industrial Limited.

LDK Solar in February 2014 filed in the Cayman Islands for the
appointment of provisional liquidators, four days before it was
due to make a $197 million bond repayment.  Its Joint
Provisional Liquidators are Tammy Fu and Eleanor Fisher, both of
Zolfo Cooper (Cayman) Limited, on Oct. 22.

In September 2014, LDK SOalr, LDK Silicon and LDK Silicon Holding
Co., Limited each applied to file an originating summons to
commence their restructuring proceedings in the High Court of Hong
Kong.

On Oct. 21, 2014 three U.S. subsidiaries of LDK Solar, LDK Solar
Systems, Inc., LDK Solar USA, Inc. and LDK Solar Tech USA, Inc.
filed voluntary petitions to reorganize under Chapter 11 of the
United States Bankruptcy Code in the United States Bankruptcy
Court for the District of Delaware.  The lead case is In re  LDK
Solar Systems, Inc. (Bankr. D. Del., Case No. 14-12384).

On Oct. 21, 2014, LDK Solar filed a petition in the same U.S.
Bankruptcy Court for recognition of the provisional liquidation
proceeding in the Grand Court of the Cayman Islands.  The Chapter
15 case is In re LDK Solar CO., Ltd. (Bankr. D. Del., Case No. 14-
12387).

The U.S. Debtors' General Counsel is Jessica C.K. Boelter, Esq.,
at Sidley Austin LLP, in Chicago, Illinois.  The U.S. Debtors'
Delaware   counsel is Robert S. Brady, Esq., Maris J. Kandestin,
Esq., and Edmon L. Morton, Esq., at Young, Conaway, Stargatt &
Taylor, LLP, in Wilmington, Delaware.  The U.S. Debtors' financial
advisor is Jefferies LLC.  The Debtors' voting and noticing agent
is Epiq Bankruptcy Solutions, LLC.

The U.S. Debtors commenced the Chapter 11 Cases in order to
implement the prepackaged plan of reorganization, with respect to
which the U.S. Debtors launched a solicitation of votes on
September 17, 2014 from the holders of LDK Solar's 10% Senior
Notes due 2014, as guarantors of the Senior Notes, and required
such holders of the Senior Notes to return their ballots by
October 15, 2014.  Holders of the Senior Notes voted
overwhelmingly in favor of accepting the Prepackaged Plan.


NATURAL RISK: Creditors' Proofs of Debt Due Nov. 24
---------------------------------------------------
The creditors of Natural Risk Fund Limited are required to file
their proofs of debt by Nov. 24, 2014, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on Sept. 17, 2014.

The company's liquidator is:

          Tromino Financial Services Ltd.
          2 Reid Street
          Hamilton HM 11
          Bermuda
          Telephone: (441) 295 5588
          Facsimile: (441) 295 5578
          c/o Fabian Schonenberg


NATURAL RISK: Shareholders to Hold Final Meeting on Nov. 25
-----------------------------------------------------------
The shareholders of Natural Risk Fund Limited will hold their
final meeting on Nov. 25, 2014, to receive the liquidator's report
on the company's wind-up proceedings and property disposal.

The company commenced wind-up proceedings on Sept. 17, 2014.

The company's liquidator is:

          Tromino Financial Services Ltd.
          2 Reid Street
          Hamilton HM 11
          Bermuda
          Telephone: (441) 295 5588
          Facsimile: (441) 295 5578
          c/o Fabian Schonenberg


NAU GENERAL: Creditors' Proofs of Debt Due Nov. 19
--------------------------------------------------
The creditors of NAU General Partner Inc. are required to file
their proofs of debt by Nov. 19, 2014, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on Sept. 12, 2014.

The company's liquidator is:

          Intertrust SPV (Cayman) Limited
          190 Elgin Avenue, George Town
          Grand Cayman, KY1-9005
          Cayman Islands
          c/o Jennifer Chailler
          Telephone: (345) 943-3100


NIVEST LIMITED: Commences Liquidation Proceedings
-------------------------------------------------
On Oct. 1, 2014, the shareholder of Nivest 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:

          Mark Kernohan
          c/o Fiduciare Kernohan & Associes
          40 Rue de Generve
          P.O. Box 471 Chene-Bourg
          Switzerland 1225
          Telephone: +1 (345) 914 6365


NRF TRADING: Creditors' Proofs of Debt Due Nov. 24
--------------------------------------------------
The creditors of NRF Trading Subsidiary A Limited are required to
file their proofs of debt by Nov. 24, 2014, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on Sept. 17, 2014.

The company's liquidator is:

          Tromino Financial Services Ltd.
          2 Reid Street
          Hamilton HM 11
          Bermuda
          Telephone: (441) 295 5588
          Facsimile: (441) 295 5578
          c/o Fabian Schonenberg


NRF TRADING: Shareholders to Hold Final Meeting on Nov. 25
----------------------------------------------------------
The shareholders of NRF Trading Subsidiary A Limited will hold
their final meeting on Nov. 25, 2014, to receive the liquidator's
report on the company's wind-up proceedings and property disposal.

The company commenced wind-up proceedings on Sept. 17, 2014.

The company's liquidator is:

          Tromino Financial Services Ltd.
          2 Reid Street
          Hamilton HM 11
          Bermuda
          Telephone: (441) 295 5588
          Facsimile: (441) 295 5578
          c/o Fabian Schonenberg


OPTIMAL ASIA: Creditors' Proofs of Debt Due Nov. 19
---------------------------------------------------
The creditors of Optimal Asia Fund are required to file their
proofs of debt by Nov. 19, 2014, to be included in the company's
dividend distribution.

The company commenced liquidation proceedings on Oct. 2, 2014.

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


PROSPERITY BRIDGE: Creditors' Proofs of Debt Due Nov. 20
--------------------------------------------------------
The creditors of Prosperity Bridge Holdings Limited are required
to file their proofs of debt by Nov. 20, 2014, to be included in
the company's dividend distribution.

The company commenced liquidation proceedings on Sept. 24, 2014.

The company's liquidator is:

          Christopher Kennedy
          c/o Omar Grant
          Telephone: (345) 949 7576
          Facsimile: (345) 949 8295
          P.O. Box 897 Windward 1
          Regatta Office Park
          Grand Cayman KY1-1103
          Cayman Islands


PSAR COMMODITY: Commences Liquidation Proceedings
-------------------------------------------------
On Sept. 29, 2014, the sole shareholder of PSAR Commodity
Subsidiary, Ltd. 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:

          Boston Management and Research
          767 Third Avenue, Fl. 20
          New York, NY 10017
          USA
          Telephone: +1 (345) 914 6365


RUSSIA REAL: Commences Liquidation Proceedings
----------------------------------------------
On Oct. 1, 2014, the shareholder of Russia Real Estate Ltd.
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:

          Thomas Wolf
          Hirtenhofring 1, 6000 Luzern 14
          Switzerland
          Telephone: +1 (345) 914 6365


VMS STRATEGIC: Commences Liquidation Proceedings
------------------------------------------------
On Aug. 31, 2014, the shareholder of VMS Strategic Growth 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 liquidators are:

          Mr. David Lui
          Mr. Ng Kwong Kei
          Jardine House, Suits 4112-19, 41st Floor
          1 Connaught Place
          Central
          Hong Kong
          Telephone: +852 29962166 / +852 29962184
          Facsimile: +852 29962101


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


CHILE: More than 100 Companies Present Mine-site Closure Plans
--------------------------------------------------------------
EFE News reports that a total of 107 companies presented their
closure plans for 132 mine sites in Chile under the terms of a
2012 law, Mining Minister Aurora Williams said.

The combined cost of those closures amounts to some US$9 billion,
according to preliminary estimates, although the final total will
be announced on Nov. 14 following a review of the companies'
technical reports, which were presented ahead of Nov. 11's
deadline, according to EFE News.


NII HOLDINGS: Units Enters Deal For Nextel Chile Acquisition
------------------------------------------------------------
NII Holdings Inc. disclosed that the company's wholly-owned
subsidiaries, NII Mercosur Telecom, S.L., NII Mercosur Moviles,
S.L and NII International Telecom S.C.A., entered into a stock
purchase agreement with Fucata S.A., a sociedad anonima existing
under the Oriental Republic of Uruguay, a venture comprised of
Grupo Veintitres and Optimum Advisors ("Fucata").

Fucata will purchase all of the outstanding equity interests in
Nextel Chile S.A., the Company's Chilean operating company.

ISM Capital is not part of the Fucata ownership group and was not
otherwise involved in Fucata's purchase of Nextel Chile S.A.

                      About NII Holdings

NII Holdings Inc. through its subsidiaries provides wireless
communication services for businesses and consumers in Brazil,
Mexico and Argentina.  NII Holdings has the exclusive right to use
the Nextel brand in its markets pursuant to a trademark license
agreement with Sprint Corporation and offers unique push-to-talk
("PTT") services associated with the Nextel brand in Latin
America.  NII Holdings' shares of common stock, par value $0.001,
are publicly traded under the symbol NIHD on the NASDAQ Global
Select Market.

NII Holdings and its affiliated debtors sought bankruptcy
protection (Bankr. S.D.N.Y. Lead Case No. 14-12611) in Manhattan
on Sept. 15, 2014.  The Debtors' cases are jointly administered
and are assigned to Judge Shelley C. Chapman.

The Debtors have tapped Jones Day as counsel and Prime Clerk LLC
as claims and noticing agent.

The U.S. Trustee for Region 2 on Sept. 29 appointed five creditors
of NII Holdings to serve on the official committee of unsecured
creditors.  Kramer Levin Naftalis & Frankel LLP serves as lead
counsel to the Creditors Committee, while FTI Consulting, Inc.,
acts its financial advisor.


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


DOMINICAN REP: Debt Could Reach 50% of GDP by Yearend, IMF Says
---------------------------------------------------------------
Dominican Today reports that International Monetary Fund (IMF)
mission leader Przemek Gajdeczka warned that if Dominican
Republic's debt continues its upward climb, it would reach 50% of
GDP by yearend 2014.

Mr. Gajdeczka noted however that economic growth is better than
when the IMF mission visited last March, according to Dominican
Today.

Speaking prior to a meeting with Economy Minister Temistocles
Montas, said Mr. Gajdeczka must maintain fiscal consolidation as
he affirms the government has been doing thus far, the report
notes.

Mr. Gajdeczka said the IMF delegation, which arrived in the
country more than a week ago, is here to assess the economic
situation with the government and then prepare the report as
agreed for next year, the report relays.

Mr. Gajdeczka said they've already met with Central banker Hector
Valdez Albizu, and State-owned Electric Utility (CDEEE) Chief
Executive Officer Ruben Jimenez Bichara, the report adds.


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


MEXICO: Exec. Dir. Welcome Rebound in Economic Activity says IMF
----------------------------------------------------------------
On November 7, 2014, the Executive Board of the International
Monetary Fund (IMF) concluded the Article IV consultation with
Mexico.

Mexico has completed the legislative process underpinning its
comprehensive structural reforms agenda.  More than a dozen
reforms have been approved over the last year and a half including
on energy, telecommunications, anti-trust, labor markets,
education, and the financial sector.  By enhancing competition,
reducing labor market frictions, and encouraging investment, the
reforms are expected to boost productivity and output over the
medium term.

After a sharp slowdown in 2013-reflecting weak external demand and
a decline in construction activity-growth is projected to recover
to 2.4 percent this year.  The strong recovery in the U.S. in the
second quarter of 2014 has triggered a rebound in Mexico's
manufacturing production and exports (especially in the automotive
sector).  In addition, construction activity is firming up,
supported by a rebound of residential investment and an increase
of government spending on infrastructure.

Labor market indicators suggest that the economy continues to
operate below potential, helping to contain inflationary
pressures.  The unemployment rate has inched up since early 2013,
and real wage growth has been subdued. Headline inflation rose to
4 1/2 percent year-on-year in early 2014, reflecting one-off
effects from tax changes.  It is expected to stay around 4 percent
in the remainder of 2014, driven by increases in livestock and
government-administered prices, before declining gradually in
2015. Core inflation remains close to 3 percent and long-term
inflation expectations are well anchored.

The Bank of Mexico cut the policy rate by 50 basis points to 3
percent in June in the context of limited inflationary pressures
and a weak economy while fiscal policy remains broadly neutral.

The fiscal outturn for the first half of 2014 has been broadly in
line with the Public Sector Borrowing Requirement (PSBR) budget
target of slightly over 4 percent of GDP.

Commercial bank credit growth slowed down in the first half of
2014 for households and firms.  Among corporate borrowers, the
deceleration has been concentrated in construction: banks reduced
sharply lending to the sector after the financial difficulties of
the three largest builders surfaced last year.  On the household
side, consumer credit growth moderated to 8 percent (from 16
percent last year).  In contrast, lending by the public-owned
development banks is growing rapidly, although from a low base, as
the financial sector reform gave development banks a new mandate
of promoting micro-financing and lending to underserved sectors,
including SME's.

The share of non-performing loans (NPLs) in total loans by
commercial banks has stabilized, reaching 3¬ in June up from 2«
percent in 2012, reflecting mostly a rise in impaired loans in the
construction sector.  However, NPLs have been fully provisioned,
and profitability and capitalization of the banking sector remains
strong.

Mexico's external position remains broadly consistent with
fundamentals and desirable policy settings.  The current account
deficit widened to 2.1 percent of GDP in 2013, reflecting higher
net factor payments, while the trade balance remained stable.  In
2014, the current account deficit is projected to remain unchanged
with an improving trade balance offset by a continued increase in
factor payments.  The nominal and real effective exchange rates
have depreciated modestly since end-2013.  The current level of
foreign reserves is adequate for normal times according to a range
of standard reserve coverage indicators.  Gross portfolio inflows
have rebounded after a sharp slowdown in Q2 of 2013.  In February,
Moody's raised Mexico's foreign currency sovereign rating to Aa3,
citing the expected positive impact of structural reforms on
potential growth.

Looking forward, the structural reforms in energy and
telecommunications are expected to attract significant foreign
direct investment.

                    Executive Board Assessment

Executive Directors welcomed the rebound in economic activity in
Mexico, boosted by strong external demand and a recovery in the
construction sector.  They also commended the completion of the
legislative process underpinning the country's comprehensive
structural reform agenda.  Directors noted that a potential surge
in volatility in global financial markets poses risks.  They
expressed confidence in Mexico's strong policy fundamentals and
noted that the FCL arrangement has provided insurance against tail
risks.

Directors considered that the current stance of monetary policy
remains appropriate.  They welcomed the Bank of Mexico's
commitment to adapting monetary policy in case of upward pressure
on prices. Directors took note of the staff assessment that the
real exchange rate and the current account balance are broadly
consistent with underlying fundamentals.  They observed that a
high level of international reserves in the context of Mexico's
free floating exchange rate regime, as well as Mexico's deep and
liquid financial markets, should help the country weather well a
rise in volatility.

Directors supported the authorities' plans to reduce the public
sector borrowing requirement to 2.5 percent of GDP by 2018.  They
emphasized that strict adherence to the announced fiscal path will
strengthen the credibility of the new fiscal framework.  Some
Directors stressed that boosting non oil revenues would be needed,
especially if oil revenues are lower than anticipated.  Directors
encouraged the authorities to improve budget implementation
further through more realistic expenditure budgeting and stricter
control of budget execution.  Directors welcomed the creation of
an oil stabilization and saving fund, and the plan to reform the
pension system of the two large state owned companies.

Directors observed that the monitoring and control of state and
municipal finances need to be strengthened.  Full adoption of the
uniform accounting methodology for reporting local government
finances and introduction of a formal legal framework to anchor
fiscal policymaking at the local level would be important.

Directors commended Mexico's sound financial sector and the
progress in strengthening the regulation and consolidated
supervision of large financial conglomerates.  They advised
careful monitoring of the rise in non performing loans in housing
and foreign currency borrowing among some large companies.  While
welcoming the increased role of development banks in improving
financial inclusion, they recommended caution to avoid displacing
private bank lending or relaxing credit standards.

Directors underscored the importance of strong and steady
implementation of the structural reform agenda.  Properly
sequenced and executed, these reforms would boost productivity and
output growth over the medium term.



                            ***********


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
202-362-8552.


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