/raid1/www/Hosts/bankrupt/TCRLA_Public/141209.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
Tuesday, December 9, 2014, Vol. 15, No. 243
Headlines
B R A Z I L
BRAZIL: Middle Class Finds a Lifeline at the Pawnshop
OI SA: Said to be Ready to OK Altice Offer for Portugal Assets
C A Y M A N I S L A N D S
ALL SEASONS: Commences Liquidation Proceedings
AP ASIA: Commences Liquidation Proceedings
ATALAYA SPECIAL: Commences Liquidation Proceedings
ATALAYA SPECIAL MASTER: Commences Liquidation Proceedings
CH LIMITED: Shareholders Receive Wind-Up Report
GLYNN EMERGING: Commences Liquidation Proceedings
HIGHLAND INVESTMENT: Placed Under Voluntary Wind-Up
INTER CAPITAL: Placed Under Voluntary Wind-Up
C H I L E
INVERSIONES ALSACIA: U.S. Court Confirms Reorganization Plan
D O M I N I C A N R E P U B L I C
DOMINICAN REPUBLIC: Debt with Power Firms Breaks US$1BB Ceiling
M E X I C O
URBI DESARROLLOS: Files Prepackaged Bankruptcy Plan
V E N E Z U E L A
VENEZUELA: To Count Diamonds as Part of Global Reserves
X X X X X X X X X
* Large Companies With Insolvent Balance Sheets
- - - - -
===========
B R A Z I L
===========
BRAZIL: Middle Class Finds a Lifeline at the Pawnshop
------------------------------------------------------
Global Insolvency reports that interest rates in Brazil would make
an American loan shark blush.
Credit cards charge more than 240 percent a year, says the report.
Bank loans top 100 percent, the International New York Times
DealBook blog reported, according to Global Insolvency.
The report notes that for a rising number of consumers in need of
cash, a pawnshop is actually the better option.
The growing prominence of pawnshops is the latest sign that the
country's consumer debt binge may be reaching its limit, the
report notes. The swelling Brazilian middle class -- and its
shopping habits -- helped feed the broader economy for years, the
report discloses.
But, growth is slowing, and consumers are struggling to pay their
bills, the report adds.
While still a relatively small portion of lending, the pawnshop
business has been booming, even as other types of loans have
fallen out of favor, notes the report. Some Brazilians, even those
solidly in the middle class, are using pawnshops to pay off their
credit cards, cover unexpected expenses or just get a cheaper line
of credit, says Global Insolvency.
The report notes that unlike in the United States, pawnshops in
Brazil are regulated at the national level. Instead of being
independent players that set their own rates and make their own
rules, pawnshops are operated by a government-owned bank, Caixa
Economica Federal.
OI SA: Said to be Ready to OK Altice Offer for Portugal Assets
--------------------------------------------------------------
Daniele Lepido at Bloomberg News reports that Oi SA was close to
approving a EUR7.4 billion (US$9.2 billion) offer for its
Portuguese assets from Altice SA at a board meeting, people with
knowledge of the matter said.
The companies began exclusive talks on Dec. 1 after Altice raised
its offer, topping a rival bid by Apax Partners LLP and Bain
Capital, Bloomberg News relays.
Oi SA can use the proceeds to reduce its debt and finance deals in
its home market, as it backs away from ambitions to become a
trans-Atlantic telecommunications carrier, Bloomberg News notes.
Oi acquired the Portuguese assets just a year ago in a merger with
Portugal Telecom, the report adds.
For Patrick Drahi, the Franco-Israeli billionaire who controls
Altice (ATC), the purchase of the assets would be a second major
deal this year as the European phone industry consolidates to
reduce costs and revive earnings, Bloomberg News relates.
Altice won antitrust approval in October to buy French wireless
carrier SFR for US$23 billion, with a plan to combine the phone
company with cable provider Numericable Group, and in June agreed
to buy smaller carrier Virgin Mobile in France, Bloomberg News
notes.
Bloomberg News says that the Portuguese phone assets will add to
Luxembourg-based Altice's cable units Cabovisao and Oni in the
country.
Oi SA hired Banco BTG Pactual SA in August to explore a purchase
of Telecom Italia SpA's stake in Tim Participacoes SA, notes
Bloomberg News.
When interim chief Bayard Gontijo was asked on Nov. 13 whether Oi
could merge with Tim, he said he "won't have any prejudice" on how
Oi would take part in consolidation, Bloomberg News notes.
Telefonica Brasil SA is the country's largest phone company by
revenue.
About Oi S.A.
Oi S.A., through its subsidiaries, provides integrated
telecommunication services for residential customers, companies,
and governmental agencies in Brazil. The company was formerly
known as Brasil Telecom S.A. and changed its name to Oi S.A. in
February 2012. Oi S.A. was founded in 1963 and is headquartered in
Rio de Janeiro, Brazil.
* * *
As reported in the Troubled Company Reporter-Latin America on
Sept. 1, 2014, Moody's America Latina has assigned a Ba1/Aa2.br
corporate family rating to Oi SA based on the company's reduced
financial flexibility and weak credit metrics, which Moody's
believes will result in a weakening of Oi's competitive position.
Oi has articulated plans to reduce capital spending and may not
fully participate in the upcoming 4G spectrum auction in Brazil.
In addition, Oi could face operational, competitive or financial
challenges related to the quickly evolving competitive
environment, which includes an opportunity for consolidation
through M&A.
==========================
C A Y M A N I S L A N D S
==========================
ALL SEASONS: Commences Liquidation Proceedings
----------------------------------------------
On Oct. 24, 2014, the sole shareholder of All Seasons Absolute
Return Fund 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 liquidators are:
Edel Andersen
Roger Priaulx
Telephone: (345) 815 8532
Facsimile: (345) 945 3470
c/o Genesis Trust & Corporate Services Ltd.
P.O. Box 448 Midtown Plaza
Elgin Avenue, George Town
Grand Cayman KY1-1106
Cayman Islands
AP ASIA: Commences Liquidation Proceedings
------------------------------------------
On Oct. 23, 2014, the sole shareholder of AP Asia Equities Multi-
Strategies Fund 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:
Ho Yee Kee Ricky
Shui On Centre, Rooms 301-305, 3rd Floor
6-8 Harbour Road
Hong Kong
ATALAYA SPECIAL: Commences Liquidation Proceedings
--------------------------------------------------
On Oct. 15, 2014, the sole shareholder of Atalaya Special
Opportunities Fund 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:
Daniel M. Levinson
780 Third Avenue
New York
New York 10017
USA
ATALAYA SPECIAL MASTER: Commences Liquidation Proceedings
---------------------------------------------------------
On Oct. 15, 2014, the sole shareholder of Atalaya Special
Opportunities Master Fund 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:
Daniel M. Levinson
780 Third Avenue
New York
New York 10017
USA
CH LIMITED: Shareholders Receive Wind-Up Report
-----------------------------------------------
The shareholders of CH Limited received on Nov. 25, 2014, the
liquidator's report on the company's wind-up proceedings and
property disposal.
The company commenced liquidation proceedings on Oct. 23, 2014.
The company's liquidator is:
Stuarts Walker Hersant
Telephone: (345) 949 3344
Facsimile: (345) 949 2888
P.O. Box 2510 Grand Cayman KY1-1104
Cayman Islands
GLYNN EMERGING: Commences Liquidation Proceedings
-------------------------------------------------
At an extraordinary meeting held on Oct. 23, 2014, the members of
Glynn Emerging Opportunity III Offshore Fund resolved to
voluntarily liquidate the company's business.
Only creditors who were able to file their proofs of debt by
Dec. 3, 2014, will be included in the company's dividend
distribution.
The company's liquidator is:
DMS Corporate Services Ltd
c/o Nicola Cowan
Telephone: (345) 946 7665
Facsimile: (345) 949 2877
dms House, 2nd Floor
P.O. Box 1344 Grand Cayman KY1-1108
Cayman Islands
HIGHLAND INVESTMENT: Placed Under Voluntary Wind-Up
---------------------------------------------------
On Oct. 24, 2014, the sole shareholder of Highland Investment Fund
passed a resolution 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:
Marcelo Bandeira De Mello
c/o Jonathan Turnham
Telephone: +1 (345) 949 9876
Facsimile: +1 (345) 949-9877
c/o Ogier
89 Nexus Way, Camana Bay
Grand Cayman KY1-9007
Cayman Islands
INTER CAPITAL: Placed Under Voluntary Wind-Up
---------------------------------------------
On Oct. 14, 2014, the sole shareholder of Inter Capital Limited
passed a resolution to voluntarily wind up the company's
operations.
Only creditors who were able to file their proofs of debt by
Dec. 4, 2014, will be included in the company's dividend
distribution.
The company's liquidator is:
Eagle Holdings Ltd.
c/o Barclays Private Bank & Trust (Cayman) Limited
FirstCaribbean House, 4th Floor
P.O. Box 487 Grand Cayman KY1-1106
Cayman Islands
Telephone: 345 949-7128
=========
C H I L E
=========
INVERSIONES ALSACIA: U.S. Court Confirms Reorganization Plan
-------------------------------------------------------------
Inversiones Alsacia S.A. disclosed that on December 4, 2014 the
United States Bankruptcy Court for the Southern District of New
York confirmed the prepackaged plan of reorganization that was
previously submitted to the court.
Promptly following the satisfaction of the conditions precedent to
the effectiveness of the Plan, the Company will issue new 8.0%
Senior Secured Notes due 2018 to holders of existing 8.0% Senior
Secured Notes due 2018 that have previously tendered their
Existing Notes in accordance with the procedures described in the
Plan.
As previously announced, the Company has not experienced and does
not expect to experience any disruptions in its operations during
its reorganization process. Specifically, the Company expects to
continue to:
-- operate its full schedule of services to the citizens of
Santiago;
-- provide its employees with wages, healthcare coverage,
vacation days, and similar benefits without interruption; and
-- pay suppliers for goods and services received throughout the
reorganization process.
No other creditors or suppliers have been, or should be, affected
by the restructuring of the Existing Notes that is to be
implemented in accordance with the Plan. The Company remains
current on all of its other obligations as of the date of the
announcement.
A spokesperson for the Company commented: "The confirmation of our
restructuring plan is a crucial step to ensuring that we will have
sufficient resources to continue operating in the ordinary course
of business. In addition, successful conclusion of our
restructuring will put us in a better position to evaluate the
replacement of over 60% of our fleet, which will have ten years of
service in 2015. If such replacement occurs, it will allow us to
provide an improved service to the citizens of Santiago."
About Alsacia
Inversiones Alsacia, together with its affiliate, Express de
Santiago Uno S.A., are collectively the largest operator in the
Transantiago Transportation System, transporting approximately
800,000 passengers every day, throughout 35 communities in
Santiago, Chile, which accounts for more than 30% of the
passengers in Transantiago. Alsacia and Express have the right to
provide the transportation services pursuant to concession
agreements with Chile's Ministry of Transportation and
Telecommunications, which agreements expire October 2018.
Alsacia and Express belong to non-debtor Global Public Services
S.A. ("GPS Group"), an international holding company with
interests in public passenger transportation, environmental
solutions, outsourcing services and real estate development in
Chile, Colombia, Panama, Peru and the United States of America.
The GPS Group is controlled by Carlos Mario Rios Velilla and
Francisco Javier Rios Velilla and several of their affiliates.
Alsacia and Express and three affiliates sought bankruptcy
protection under Chapter 11 of the U.S. Bankruptcy Code in
Manhattan, New York (Bankr. S.D.N.Y.) on Oct. 16, 2014, with a
prepackaged plan that would restructure $347.3 million in senior
secured notes but leave other creditors and the owners unimpaired.
The cases are pending before the Honorable Martin Glenn and the
Debtors have requested that their cases be jointly administered
under Case No. 14-12896.
The Debtors have tapped Cleary Gottlieb Steen & Hamilton, LLP, as
bankruptcy counsel, FTI Consulting as financial advisor, and Prime
Clerk LLC as claims and balloting agent.
The Court will consider adequacy of disclosure materials and
approval of the prepackaged Chapter 11 plan at a hearing schedules
for Dec. 4. The Plan contemplates that the companies can
implement a planned exchange offer with holders of $347.3 million
in senior secured notes.
===================================
D O M I N I C A N R E P U B L I C
===================================
DOMINICAN REPUBLIC: Debt with Power Firms Breaks US$1BB Ceiling
---------------------------------------------------------------
Dominican Today reports that the Dominican Republic government
debt with the power companies broke the US$1 billion mark for the
first time, including current invoices and in arrears.
This data is from Dominican Republic's Power Companies Association
(ADIE), vice president Milton Morrison, who said they expect
payment as soon as possible, according to Dominican Today.
The report relates that Mr. Morrison said the CEO of the State-
owned Electric Utility (CDEEE) Ruben Jimenez Bichara has pledged
to arrange a US$300.0 million payment in the coming days,
"hopefully he'll succeed."
ADIE's debt report notes that the Government owes US$118.7 million
30 days in arrears; US$141.0 million 31-60 days and US$618.1
million two months overdue, the report notes.
In total, the overdue debt totaled US$878 million, the frozen
US$25.2 million and no outstanding overcome the amount of US$73.9
million, the report discloses.
Most Jeopardized
The report notes that the power company EGE Haina is the most
affected by the lack of payment, at US$388.7 million, followed by
AES Dominicana, with US$293.1 million.
===========
M E X I C O
===========
URBI DESARROLLOS: Files Prepackaged Bankruptcy Plan
---------------------------------------------------
Amy Guthrie at The Wall Street Journal reports that troubled
Mexican home builder Urbi Desarrollos Urbanos SAB said it has
filed a prepackaged bankruptcy plan, after having reached a
restructuring plan supported by most of its creditors.
The restructuring plan would restore Urbi's ability to take out
bridge loans with its bank creditors, inject new capital into the
company and modify terms of existing debt, the company said,
according to The Wall Street Journal.
The report notes that creditors that signed onto the agreement
include Mexican bank Grupo Financiero Banorte, Prudential Real
Estate Investors, Ashmore Investment Management Ltd. and BlueBay
Asset Management LLP, Urbi said.
Creditors that signed on to the plan hold MXN21.9 billion (US$1.55
billion) in Urbi debt, or just over 53% of the company's total
debt, the report notes.
The report discloses that the company's restructuring plan
contemplates the construction and sale of 10,000 homes in the 12
months following the closing of the bankruptcy process and more
than 29,000 homes a year by 2020.
Mexicali-based Urbi is one of three major Mexican home builders,
along with Mexico City-based Corporacion Geo SAB and Culiacan-
based Desarrolladora Homex SAB that struggled with serious cash
restraints for more than a year following a dramatic government
policy shift for Mexico's low-income-housing sector, the report
notes.
The report relates that debt troubles brought construction by the
three builders to a virtual standstill. Geo struck a deal with
creditors and filed for bankruptcy in March, followed by Homex in
May, the report notes.
The report discloses that Urbi said its liquidity situation
remains "limited."
A shift in government priorities last year urged builders to
construct more apartments closer to urban areas, which require
larger amounts of working capital up front than the free-standing
homes they were mostly building, notes the report. The change
also left the builders with unusable land in far-flung areas, it
added.
The report says that the transition to apartments was complicated
by the arrival of a new government in December 2012, leading to
slowed disbursements of government subsidies and uncertainty about
the extent of future government support for the sector.
Urbi Desarrollos Urbanos is a publicly traded, fully integrated
homebuilder engaged in the development, construction, marketing
and sale of affordable housing in Mexico.
* * *
As reported in the Troubled Company Reporter-Latin America on
May 21, 2014, Moody's de Mexico downgraded Urbi, Desarrollos
Urbanos (Urbi)'s national scale senior unsecured debt rating to
C.mx from Ca.mx.
=================
V E N E Z U E L A
=================
VENEZUELA: To Count Diamonds as Part of Global Reserves
-------------------------------------------------------
Anatoly Kurmanaev and Jose Orozco at Bloomberg News report that
Venezuela's central bank said it will expand the definition of
international reserves to include diamonds and some foreign
currency "commitments" as President Nicolas Maduro struggles with
the world's fastest inflation.
Diamonds, other precious stones and convertible currencies "used
as a unit of account or payment in commitments assumed by the
Bolivarian Republic of Venezuela will make up part of
international reserves," the central bank said in a statement on a
new law governing its operations, according to Bloomberg News.
Bloomberg News relates that the broader definition of reserves,
which fell to a decade-low of US$19.7 billion last month, is more
of an accounting move designed to combine billions of dollars in
off-budget funds with central bank reserves, said Hernan Yellati,
an analyst at Banctrust & Co. in Miami.
"The government wants to seize those off-budget assets and count
them as part of international reserves," Mr. Yellati told
Bloomberg News in a telephone interview. "The impact of the
measure will be limited as this is just an accounting measure, not
fresh money," Mr. Yellati added.
Bloomberg News relates that Venezuela held an estimated US$16
billion at the end of June in off-budget funds created by the late
President Hugo Chavez to finance investment projects without
congressional approval, according to latest estimates by Barclays
Plc economist Alejandro Arreaza.
The central bank said it will open an account to hold new payments
to the national development bank known as Fonden, classified as
one of the off-budget funds, Bloomberg News relates.
"It allows us to see what they have there, rather than guess what
they have," said Jorge Piedrahita, the chief executive officer of
Torino Capital LLC, said in e-mailed response to questions,
Bloomberg News notes.
Falling oil prices have exacerbated economic turmoil in Venezuela,
which has the world's biggest crude reserves, Bloomberg News
discloses. Consumer prices in the South American nation rose 63.4
percent in August, the most in the world, according to data
compiled by Bloomberg.
=================
X X X X X X X X X
=================
* Large Companies With Insolvent Balance Sheets
-----------------------------------------------
Total
Total Shareholders
Assets Equity
Company Ticker (US$MM) (US$MM)
------- ------ --------- ------------
AGRENCO LTD AGRE LX 339244073 -561405847
AGRENCO LTD-BDR AGEN33 BZ 339244073 -561405847
AGRENCO LTD-BDR AGEN11 BZ 339244073 -561405847
ARTHUR LAN-DVD C ARLA11 BZ 11642254.9 -17154460.3
ARTHUR LAN-DVD P ARLA12 BZ 11642254.9 -17154460.3
ARTHUR LANGE ARLA3 BZ 11642254.9 -17154460.3
ARTHUR LANGE SA ALICON BZ 11642254.9 -17154460.3
ARTHUR LANGE-PRF ARLA4 BZ 11642254.9 -17154460.3
ARTHUR LANGE-PRF ALICPN BZ 11642254.9 -17154460.3
ARTHUR LANG-RC C ARLA9 BZ 11642254.9 -17154460.3
ARTHUR LANG-RC P ARLA10 BZ 11642254.9 -17154460.3
ARTHUR LANG-RT C ARLA1 BZ 11642254.9 -17154460.3
ARTHUR LANG-RT P ARLA2 BZ 11642254.9 -17154460.3
BALADARE BLDR3 BZ 159449535 -52990723.7
BATTISTELLA BTTL3 BZ 115297369 -19538107
BATTISTELLA-PREF BTTL4 BZ 115297369 -19538107
BATTISTELLA-RECE BTTL9 BZ 115297369 -19538107
BATTISTELLA-RECP BTTL10 BZ 115297369 -19538107
BATTISTELLA-RI P BTTL2 BZ 115297369 -19538107
BATTISTELLA-RIGH BTTL1 BZ 115297369 -19538107
BOMBRIL BMBBF US 309951278 -57714449.4
BOMBRIL FPXE4 BZ 19416013.9 -489914853
BOMBRIL BOBR3 BZ 309951278 -57714449.4
BOMBRIL - RTS BOBR11 BZ 309951278 -57714449.4
BOMBRIL CIRIO SA BOBRON BZ 309951278 -57714449.4
BOMBRIL CIRIO-PF BOBRPN BZ 309951278 -57714449.4
BOMBRIL HOLDING FPXE3 BZ 19416013.9 -489914853
BOMBRIL SA-ADR BMBPY US 309951278 -57714449.4
BOMBRIL SA-ADR BMBBY US 309951278 -57714449.4
BOMBRIL-PREF BOBR4 BZ 309951278 -57714449.4
BOMBRIL-RGTS PRE BOBR2 BZ 309951278 -57714449.4
BOMBRIL-RIGHTS BOBR1 BZ 309951278 -57714449.4
BOTUCATU TEXTIL STRP3 BZ 27663605.3 -7174512.12
BOTUCATU-PREF STRP4 BZ 27663605.3 -7174512.12
BUETTNER BUET3 BZ 95403660.1 -37550595.1
BUETTNER SA BUETON BZ 95403660.1 -37550595.1
BUETTNER SA-PRF BUETPN BZ 95403660.1 -37550595.1
BUETTNER SA-RT P BUET2 BZ 95403660.1 -37550595.1
BUETTNER SA-RTS BUET1 BZ 95403660.1 -37550595.1
BUETTNER-PREF BUET4 BZ 95403660.1 -37550595.1
CAF BRASILIA CAFE3 BZ 160933830 -149277092
CAF BRASILIA-PRF CAFE4 BZ 160933830 -149277092
CAFE BRASILIA SA CSBRON BZ 160933830 -149277092
CAFE BRASILIA-PR CSBRPN BZ 160933830 -149277092
CAIUA ELEC-C RT ELCA1 BZ 1029019993 -128321599
CAIUA SA ELCON BZ 1029019993 -128321599
CAIUA SA-DVD CMN ELCA11 BZ 1029019993 -128321599
CAIUA SA-DVD COM ELCA12 BZ 1029019993 -128321599
CAIUA SA-PREF ELCPN BZ 1029019993 -128321599
CAIUA SA-PRF A ELCAN BZ 1029019993 -128321599
CAIUA SA-PRF A ELCA5 BZ 1029019993 -128321599
CAIUA SA-PRF B ELCA6 BZ 1029019993 -128321599
CAIUA SA-PRF B ELCBN BZ 1029019993 -128321599
CAIUA SA-RCT PRF ELCA10 BZ 1029019993 -128321599
CAIUA SA-RTS ELCA2 BZ 1029019993 -128321599
CAIVA SERV DE EL 1315Z BZ 1029019993 -128321599
CELGPAR GPAR3 BZ 202489694 -1054621126
CENTRAL COST-ADR CCSA LI 271025064 -37667553.4
CENTRAL COSTAN-B CRCBF US 271025064 -37667553.4
CENTRAL COSTAN-B CNRBF US 271025064 -37667553.4
CENTRAL COSTAN-C CECO3 AR 271025064 -37667553.4
CENTRAL COST-BLK CECOB AR 271025064 -37667553.4
CIA PETROLIFERA MRLM3 BZ 377592596 -3014215.1
CIA PETROLIFERA MRLM3B BZ 377592596 -3014215.1
CIA PETROLIFERA 1CPMON BZ 377592596 -3014215.1
CIA PETROLIF-PRF MRLM4 BZ 377592596 -3014215.1
CIA PETROLIF-PRF MRLM4B BZ 377592596 -3014215.1
CIA PETROLIF-PRF 1CPMPN BZ 377592596 -3014215.1
CIMOB PARTIC SA GAFP3 BZ 44047412.2 -45669964.1
CIMOB PARTIC SA GAFON BZ 44047412.2 -45669964.1
CIMOB PART-PREF GAFP4 BZ 44047412.2 -45669964.1
CIMOB PART-PREF GAFPN BZ 44047412.2 -45669964.1
COBRASMA CBMA3 BZ 73710194.2 -2330089496
COBRASMA SA COBRON BZ 73710194.2 -2330089496
COBRASMA SA-PREF COBRPN BZ 73710194.2 -2330089496
COBRASMA-PREF CBMA4 BZ 73710194.2 -2330089496
D H B DHBI3 BZ 103378506 -180639480
D H B-PREF DHBI4 BZ 103378506 -180639480
DHB IND E COM DHBON BZ 103378506 -180639480
DHB IND E COM-PR DHBPN BZ 103378506 -180639480
DOCA INVESTIMENT DOCA3 BZ 187044412 -204249587
DOCA INVEST-PREF DOCA4 BZ 187044412 -204249587
DOCAS SA DOCAON BZ 187044412 -204249587
DOCAS SA-PREF DOCAPN BZ 187044412 -204249587
DOCAS SA-RTS PRF DOCA2 BZ 187044412 -204249587
EBX BRASIL SA CTMN3 BZ 2670745328 -202996314
ELEC ARG SA-PREF EASA6 AR 945325071 -56471446.1
ELEC ARGENT-ADR EASA LX 945325071 -56471446.1
ELEC DE ARGE-ADR 1262Q US 945325071 -56471446.1
ELECTRICIDAD ARG 3447811Z AR 945325071 -56471446.1
ENDESA - RTS CECOX AR 271025064 -37667553.4
ENDESA COST-ADR CRCNY US 271025064 -37667553.4
ENDESA COSTAN- CECO2 AR 271025064 -37667553.4
ENDESA COSTAN- CECOD AR 271025064 -37667553.4
ENDESA COSTAN- CECOC AR 271025064 -37667553.4
ENDESA COSTAN- EDCFF US 271025064 -37667553.4
ENDESA COSTAN-A CECO1 AR 271025064 -37667553.4
ESTRELA SA ESTR3 BZ 76575881.3 -120012837
ESTRELA SA ESTRON BZ 76575881.3 -120012837
ESTRELA SA-PREF ESTR4 BZ 76575881.3 -120012837
ESTRELA SA-PREF ESTRPN BZ 76575881.3 -120012837
F GUIMARAES FGUI3 BZ 11016542.2 -151840378
F GUIMARAES-PREF FGUI4 BZ 11016542.2 -151840378
FABRICA RENAUX FTRX3 BZ 66603695.4 -76419246.3
FABRICA RENAUX FRNXON BZ 66603695.4 -76419246.3
FABRICA RENAUX-P FTRX4 BZ 66603695.4 -76419246.3
FABRICA RENAUX-P FRNXPN BZ 66603695.4 -76419246.3
FABRICA TECID-RT FTRX1 BZ 66603695.4 -76419246.3
FER HAGA-PREF HAGA4 BZ 19848769.9 -38798309.5
FERRAGENS HAGA HAGAON BZ 19848769.9 -38798309.5
FERRAGENS HAGA-P HAGAPN BZ 19848769.9 -38798309.5
FERREIRA GUIMARA FGUION BZ 11016542.2 -151840378
FERREIRA GUIM-PR FGUIPN BZ 11016542.2 -151840378
GRADIENTE ELETR IGBON BZ 346216965 -42013205.9
GRADIENTE EL-PRA IGBAN BZ 346216965 -42013205.9
GRADIENTE EL-PRB IGBBN BZ 346216965 -42013205.9
GRADIENTE EL-PRC IGBCN BZ 346216965 -42013205.9
GRADIENTE-PREF A IGBR5 BZ 346216965 -42013205.9
GRADIENTE-PREF B IGBR6 BZ 346216965 -42013205.9
GRADIENTE-PREF C IGBR7 BZ 346216965 -42013205.9
HAGA HAGA3 BZ 19848769.9 -38798309.5
HOTEIS OTHON SA HOOT3 BZ 238958413 -22929896.5
HOTEIS OTHON SA HOTHON BZ 238958413 -22929896.5
HOTEIS OTHON-PRF HOOT4 BZ 238958413 -22929896.5
HOTEIS OTHON-PRF HOTHPN BZ 238958413 -22929896.5
IGB ELETRONICA IGBR3 BZ 346216965 -42013205.9
IGUACU CAFE IGUA3 BZ 214061113 -63930746.9
IGUACU CAFE IGCSON BZ 214061113 -63930746.9
IGUACU CAFE IGUCF US 214061113 -63930746.9
IGUACU CAFE-PR A IGUA5 BZ 214061113 -63930746.9
IGUACU CAFE-PR A IGCSAN BZ 214061113 -63930746.9
IGUACU CAFE-PR A IGUAF US 214061113 -63930746.9
IGUACU CAFE-PR B IGUA6 BZ 214061113 -63930746.9
IGUACU CAFE-PR B IGCSBN BZ 214061113 -63930746.9
IMPSAT FIBER NET IMPTQ US 535007008 -17164978
IMPSAT FIBER NET 330902Q GR 535007008 -17164978
IMPSAT FIBER NET XIMPT SM 535007008 -17164978
IMPSAT FIBER-$US IMPTD AR 535007008 -17164978
IMPSAT FIBER-BLK IMPTB AR 535007008 -17164978
IMPSAT FIBER-C/E IMPTC AR 535007008 -17164978
IMPSAT FIBER-CED IMPT AR 535007008 -17164978
INVERS ELEC BUEN IEBAA AR 239575758 -28902145.8
INVERS ELEC BUEN IEBAB AR 239575758 -28902145.8
INVERS ELEC BUEN IEBA AR 239575758 -28902145.8
KARSTEN CTKCF US 161482221 -4141092.01
KARSTEN CTKON BZ 161482221 -4141092.01
KARSTEN SA CTKA3 BZ 161482221 -4141092.01
KARSTEN SA - RCT CTKA9 BZ 161482221 -4141092.01
KARSTEN SA - RCT CTKA10 BZ 161482221 -4141092.01
KARSTEN SA - RTS CTKA1 BZ 161482221 -4141092.01
KARSTEN SA - RTS CTKA2 BZ 161482221 -4141092.01
KARSTEN-PREF CTKPF US 161482221 -4141092.01
KARSTEN-PREF CTKA4 BZ 161482221 -4141092.01
KARSTEN-PREF CTKPN BZ 161482221 -4141092.01
LAEP INVES-BDR B 0163599D BZ 222902269 -255311026
LAEP INVESTMEN-B 0122427D LX 222902269 -255311026
LAEP INVESTMENTS LEAP LX 222902269 -255311026
LAEP-BDR MILK33 BZ 222902269 -255311026
LAEP-BDR MILK11 BZ 222902269 -255311026
LOJAS ARAPUA LOAR3 BZ 38857516.9 -3355978520
LOJAS ARAPUA LOARON BZ 38857516.9 -3355978520
LOJAS ARAPUA-GDR 3429T US 38857516.9 -3355978520
LOJAS ARAPUA-GDR LJPSF US 38857516.9 -3355978520
LOJAS ARAPUA-PRF LOAR4 BZ 38857516.9 -3355978520
LOJAS ARAPUA-PRF LOARPN BZ 38857516.9 -3355978520
LOJAS ARAPUA-PRF 52353Z US 38857516.9 -3355978520
LUPATECH SA LUPA3 BZ 584100366 -304853641
LUPATECH SA LUPTF US 584100366 -304853641
LUPATECH SA LUPAF US 584100366 -304853641
LUPATECH SA LUPTQ US 584100366 -304853641
LUPATECH SA -RCT LUPA9 BZ 584100366 -304853641
LUPATECH SA-ADR LUPAY US 584100366 -304853641
LUPATECH SA-ADR LUPAQ US 584100366 -304853641
LUPATECH SA-RT LUPA11 BZ 584100366 -304853641
LUPATECH SA-RTS 1041054D BZ 584100366 -304853641
LUPATECH SA-RTS LUPA1 BZ 584100366 -304853641
MANGELS INDL MGEL3 BZ 186096273 -50186882
MANGELS INDL SA MISAON BZ 186096273 -50186882
MANGELS INDL-PRF MGIRF US 186096273 -50186882
MANGELS INDL-PRF MGEL4 BZ 186096273 -50186882
MANGELS INDL-PRF MISAPN BZ 186096273 -50186882
MINUPAR MNPR3 BZ 90210352.5 -117166643
MINUPAR SA MNPRON BZ 90210352.5 -117166643
MINUPAR SA-PREF MNPRPN BZ 90210352.5 -117166643
MINUPAR-PREF MNPR4 BZ 90210352.5 -117166643
MINUPAR-RCT 9314634Q BZ 90210352.5 -117166643
MINUPAR-RCT 0599564D BZ 90210352.5 -117166643
MINUPAR-RCT MNPR9 BZ 90210352.5 -117166643
MINUPAR-RT 9314542Q BZ 90210352.5 -117166643
MINUPAR-RT 0599562D BZ 90210352.5 -117166643
MINUPAR-RTS MNPR1 BZ 90210352.5 -117166643
NORDON MET NORD3 BZ 10859129.2 -33570700.5
NORDON METAL NORDON BZ 10859129.2 -33570700.5
NORDON MET-RTS NORD1 BZ 10859129.2 -33570700.5
NOVA AMERICA SA NOVA3 BZ 21287488.9 -183535526
NOVA AMERICA SA NOVA3B BZ 21287488.9 -183535526
NOVA AMERICA SA NOVAON BZ 21287488.9 -183535526
NOVA AMERICA SA 1NOVON BZ 21287488.9 -183535526
NOVA AMERICA-PRF NOVA4 BZ 21287488.9 -183535526
NOVA AMERICA-PRF NOVA4B BZ 21287488.9 -183535526
NOVA AMERICA-PRF NOVAPN BZ 21287488.9 -183535526
NOVA AMERICA-PRF 1NOVPN BZ 21287488.9 -183535526
OGX PETROLEO CTCO3 BZ 2104841243 -4244633894
OLEO E GAS P-ADR OGXPY US 2104841243 -4244633894
OLEO E GAS P-ADR OGXPYEUR EO 2104841243 -4244633894
OLEO E GAS P-ADR OGXPYEUR EU 2104841243 -4244633894
OLEO E GAS P-ADR 8OGB GR 2104841243 -4244633894
OLEO E GAS PART OGXP3 BZ 2104841243 -4244633894
OLEO E GAS PART OGXP5 BZ 2104841243 -4244633894
OLEO E GAS PART OGXP6 BZ 2104841243 -4244633894
OLEO E GAS PART OGXPF US 2104841243 -4244633894
OSX BRASIL - RTS 0701756D BZ 2670745328 -202996314
OSX BRASIL - RTS 0701757D BZ 2670745328 -202996314
OSX BRASIL - RTS 0812903D BZ 2670745328 -202996314
OSX BRASIL - RTS 0812904D BZ 2670745328 -202996314
OSX BRASIL - RTS OSXB1 BZ 2670745328 -202996314
OSX BRASIL - RTS OSXB9 BZ 2670745328 -202996314
OSX BRASIL SA OSXB3 BZ 2670745328 -202996314
OSX BRASIL SA EBXB3 BZ 2670745328 -202996314
OSX BRASIL SA OSXRF US 2670745328 -202996314
OSX BRASIL S-GDR OSXRY US 2670745328 -202996314
PADMA INDUSTRIA LCSA4 BZ 388720096 -213641152
PARMALAT LCSA3 BZ 388720096 -213641152
PARMALAT BRASIL LCSAON BZ 388720096 -213641152
PARMALAT BRAS-PF LCSAPN BZ 388720096 -213641152
PARMALAT BR-RT C LCSA5 BZ 388720096 -213641152
PARMALAT BR-RT P LCSA6 BZ 388720096 -213641152
PETROLERA DEL CO PSUR AR 70120174.9 -27864484
PILMAIQUEN PILMAIQ CI 200140666 -20597929.7
PORTX OPERACOES PRTX3 BZ 976769385 -9407990.18
PORTX OPERA-GDR PXTPY US 976769385 -9407990.18
PUYEHUE PUYEH CI 21553021.9 -5145184.07
PUYEHUE RIGHT PUYEHUOS CI 21553021.9 -5145184.07
RECRUSUL RCSL3 BZ 41395863.2 -21007926.7
RECRUSUL - RCT 4529789Q BZ 41395863.2 -21007926.7
RECRUSUL - RCT 4529793Q BZ 41395863.2 -21007926.7
RECRUSUL - RCT 0163582D BZ 41395863.2 -21007926.7
RECRUSUL - RCT 0163583D BZ 41395863.2 -21007926.7
RECRUSUL - RCT 0614675D BZ 41395863.2 -21007926.7
RECRUSUL - RCT 0614676D BZ 41395863.2 -21007926.7
RECRUSUL - RCT RCSL10 BZ 41395863.2 -21007926.7
RECRUSUL - RT 4529781Q BZ 41395863.2 -21007926.7
RECRUSUL - RT 4529785Q BZ 41395863.2 -21007926.7
RECRUSUL - RT 0163579D BZ 41395863.2 -21007926.7
RECRUSUL - RT 0163580D BZ 41395863.2 -21007926.7
RECRUSUL - RT 0614673D BZ 41395863.2 -21007926.7
RECRUSUL - RT 0614674D BZ 41395863.2 -21007926.7
RECRUSUL SA RESLON BZ 41395863.2 -21007926.7
RECRUSUL SA-PREF RESLPN BZ 41395863.2 -21007926.7
RECRUSUL SA-RCT RCSL9 BZ 41395863.2 -21007926.7
RECRUSUL SA-RTS RCSL1 BZ 41395863.2 -21007926.7
RECRUSUL SA-RTS RCSL2 BZ 41395863.2 -21007926.7
RECRUSUL-BON RT RCSL11 BZ 41395863.2 -21007926.7
RECRUSUL-BON RT RCSL12 BZ 41395863.2 -21007926.7
RECRUSUL-PREF RCSL4 BZ 41395863.2 -21007926.7
REDE EMP ENE ELE ELCA4 BZ 1029019993 -128321599
REDE EMP ENE ELE ELCA3 BZ 1029019993 -128321599
REDE EMPRESAS-PR REDE4 BZ 1029019993 -128321599
REDE ENERGIA SA REDE3 BZ 1029019993 -128321599
REDE ENERGIA SA- REDE2 BZ 1029019993 -128321599
REDE ENERGIA-RTS REDE1 BZ 1029019993 -128321599
REDE ENERG-UNIT REDE11 BZ 1029019993 -128321599
REDE ENER-RCT 3907731Q BZ 1029019993 -128321599
REDE ENER-RCT REDE9 BZ 1029019993 -128321599
REDE ENER-RCT REDE10 BZ 1029019993 -128321599
REDE ENER-RT 3907727Q BZ 1029019993 -128321599
REDE ENER-RT 1011624D BZ 1029019993 -128321599
REDE ENER-RT 1011625D BZ 1029019993 -128321599
RENAUXVIEW SA TXRX3 BZ 54394844.4 -90675345.2
RENAUXVIEW SA-PF TXRX4 BZ 54394844.4 -90675345.2
RIMET REEM3 BZ 103098359 -185417651
RIMET REEMON BZ 103098359 -185417651
RIMET-PREF REEM4 BZ 103098359 -185417651
RIMET-PREF REEMPN BZ 103098359 -185417651
SANESALTO SNST3 BZ 20127540.6 -7418183.32
SANSUY SNSY3 BZ 188091749 -164364290
SANSUY SA SNSYON BZ 188091749 -164364290
SANSUY SA-PREF A SNSYAN BZ 188091749 -164364290
SANSUY SA-PREF B SNSYBN BZ 188091749 -164364290
SANSUY-PREF A SNSY5 BZ 188091749 -164364290
SANSUY-PREF B SNSY6 BZ 188091749 -164364290
SCHLOSSER SCLO3 BZ 51334306.9 -58463309
SCHLOSSER SA SCHON BZ 51334306.9 -58463309
SCHLOSSER SA-PRF SCHPN BZ 51334306.9 -58463309
SCHLOSSER-PREF SCLO4 BZ 51334306.9 -58463309
SNIAFA SA SNIA AR 11229696.2 -2670544.86
SNIAFA SA-B SDAGF US 11229696.2 -2670544.86
SNIAFA SA-B SNIA5 AR 11229696.2 -2670544.86
STAROUP SA STARON BZ 27663605.3 -7174512.12
STAROUP SA-PREF STARPN BZ 27663605.3 -7174512.12
TEC TOY SA-PF B TOYB6 BZ 33401974.6 -468978.338
TEC TOY SA-PREF TOYDF US 33401974.6 -468978.338
TEC TOY SA-PREF TOYB5 BZ 33401974.6 -468978.338
TEC TOY-RCT 7335626Q BZ 33401974.6 -468978.338
TEC TOY-RCT 7335630Q BZ 33401974.6 -468978.338
TEC TOY-RCT TOYB9 BZ 33401974.6 -468978.338
TEC TOY-RCT TOYB10 BZ 33401974.6 -468978.338
TEC TOY-RT 7335610Q BZ 33401974.6 -468978.338
TEC TOY-RT 7335614Q BZ 33401974.6 -468978.338
TEC TOY-RT TOYB1 BZ 33401974.6 -468978.338
TEC TOY-RT TOYB2 BZ 33401974.6 -468978.338
TECTOY TOYB3 BZ 33401974.6 -468978.338
TECTOY TOYB13 BZ 33401974.6 -468978.338
TECTOY SA TOYBON BZ 33401974.6 -468978.338
TECTOY SA-PREF TOYBPN BZ 33401974.6 -468978.338
TECTOY-PF-RTS5/6 TOYB11 BZ 33401974.6 -468978.338
TECTOY-PREF TOYB4 BZ 33401974.6 -468978.338
TECTOY-RCPT PF B TOYB12 BZ 33401974.6 -468978.338
TEKA TKTQF US 367577608 -421708949
TEKA TEKA3 BZ 367577608 -421708949
TEKA TEKAON BZ 367577608 -421708949
TEKA-ADR TEKAY US 367577608 -421708949
TEKA-ADR TKTPY US 367577608 -421708949
TEKA-ADR TKTQY US 367577608 -421708949
TEKA-PREF TKTPF US 367577608 -421708949
TEKA-PREF TEKA4 BZ 367577608 -421708949
TEKA-PREF TEKAPN BZ 367577608 -421708949
TEKA-RCT TEKA9 BZ 367577608 -421708949
TEKA-RCT TEKA10 BZ 367577608 -421708949
TEKA-RTS TEKA1 BZ 367577608 -421708949
TEKA-RTS TEKA2 BZ 367577608 -421708949
TEXTEIS RENA-RCT TXRX9 BZ 54394844.4 -90675345.2
TEXTEIS RENA-RCT TXRX10 BZ 54394844.4 -90675345.2
TEXTEIS RENAU-RT TXRX1 BZ 54394844.4 -90675345.2
TEXTEIS RENAU-RT TXRX2 BZ 54394844.4 -90675345.2
TEXTEIS RENAUX RENXON BZ 54394844.4 -90675345.2
TEXTEIS RENAUX RENXPN BZ 54394844.4 -90675345.2
VARIG PART EM SE VPSC3 BZ 83017828 -495721697
VARIG PART EM TR VPTA3 BZ 49432119.3 -399290357
VARIG PART EM-PR VPTA4 BZ 49432119.3 -399290357
VARIG PART EM-PR VPSC4 BZ 83017828 -495721697
VARIG SA VAGV3 BZ 966298048 -4695211008
VARIG SA VARGON BZ 966298048 -4695211008
VARIG SA-PREF VAGV4 BZ 966298048 -4695211008
VARIG SA-PREF VARGPN BZ 966298048 -4695211008
WETZEL SA MWET3 BZ 97509409.1 -4549842.72
WETZEL SA MWELON BZ 97509409.1 -4549842.72
WETZEL SA-PREF MWET4 BZ 97509409.1 -4549842.72
WETZEL SA-PREF MWELPN BZ 97509409.1 -4549842.72
WIEST WISA3 BZ 34107195.1 -126993682
WIEST SA WISAON BZ 34107195.1 -126993682
WIEST SA-PREF WISAPN BZ 34107195.1 -126993682
WIEST-PREF WISA4 BZ 34107195.1 -126993682
***********
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.
* * * End of Transmission * * *