TCRLA_Public/150121.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

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

          Wednesday, January 21, 2015, Vol. 16, No. 014


                            Headlines



A R G E N T I N A

ARGENTINA: Prosecutor Dead After Accusing President of Coverup


B E R M U D A

LIVING CENTRE: To Shut Up Shop, Deloitte Appointed as Receivers


C A Y M A N  I S L A N D S

55 NORTH CAPITAL: Commences Liquidation Proceedings
ARTEPHIUS FUND: Commences Liquidation Proceedings
AUDLEY INVESTMENT III: Commences Liquidation Proceedings
AZURE MARINE: Commences Liquidation Proceedings
BRIGADE CREDIT: Placed Under Voluntary Wind-Up

CENTILLION INVESTMENT: Placed Under Voluntary Wind-Up
GALENA AZURITE: Commences Liquidation Proceedings
GRACCHI DIVERSIFIED: Commences Liquidation Proceedings
HUNT OMAN: Commences Liquidation Proceedings
HUNT OVERSEAS: Commences Liquidation Proceedings

SENEGAL HUNT: Commences Liquidation Proceedings
TIEDEMANN GLOBAL: Placed Under Voluntary Wind-Up
VALU-TRAC MASTER: Placed Under Voluntary Wind-Up
VALU-TRAC STRATEGIC: Placed Under Voluntary Wind-Up


G R E N A D A

GRENADA: Debt Agreement With Taiwan Strains Chinese Relations


T R I N I D A D  &  T O B A G O

SCHLUMBERGER: No Job Cuts at Schlumberger Trinidad
TRINIDAD & TOBAGO: Assures No Job Cuts Amid Budget Shortfall


U R U G U A Y

URUGUAY: Gets $247M IDB Loan for Int'l. Positioning Project


                            - - - - -



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


ARGENTINA: Prosecutor Dead After Accusing President of Coverup
--------------------------------------------------------------
Charlie Devereux at Bloomberg News reports that the Argentine
prosecutor who accused President Cristina Fernandez de Kirchner of
trying to absolve Iranian officials from their involvement in the
most deadly terrorist attack in the nation's history was found
dead in his apartment.

Alberto Nisman's body was discovered by his mother and a police
officer in the bathroom of his apartment Jan. 19, alongside a gun
and the shell of a bullet, according to a statement by the
Security Ministry, which didn't provide the cause of death,
according to Bloomberg News.   Mr. Nisman was scheduled to present
evidence for his accusations against President Fernandez at a
lower house commission.  Mr. Nisman was 51, according to local
media.

"The autopsy has already begun," Prosecutor Viviana Fein, who is
in charge of the investigation into Nisman's death, told reporters
in Buenos Aires, Bloomberg News relates.  "There were no witnesses
or neighbors and there was no letter," Mr. Fein added.

Bloomberg News notes that Mr. Nisman alleged that President
Fernandez and her Foreign Minister Hector Timerman had sought to
cover up an investigation he was heading into the 1994 bombing of
a Jewish community center that left 85 people dead and hundreds
injured.  President Fernandez will need to show she's fully co-
operating with the investigation to ensure that Mr. Nisman's death
doesn't tarnish the prospects of candidates from her alliance
seeking to succeed her in presidential elections in October, said
Buenos Aires-based political analyst Sergio Berensztein.

                          'Black Swan'

"This could constitute what's commonly referred to as a black swan
event in the sense that it could have an impact that's impossible
to determine but that could be very significant in the electoral
campaign," Bloomberg News quoted Mr. Berensztein as saying.  "If
the president puts herself at the disposal of the investigation
and provides all the tools needed so that this is cleared up
quickly, she could emerge strengthened by this," Mr. Berensztein
added.

The Public Prosecutor's Office named Alberto Gentili as Nisman's
replacement until Jan. 31, Bloomberg News says.   Mr. Gentili
worked with Nisman on the investigation of the 1994 bombing.

Bloomberg News discloses that Mr. Nisman's mother and federal
police officers assigned to protect the prosecutor entered the
apartment after repeatedly trying to contact him by telephone and
by ringing the door bell.  Since the door was locked from the
inside, a locksmith was called to open it.  Once inside, his
mother and the policemen found Mr. Nisman's body blocking the door
in the bathroom, Bloomberg News relays.  Next to the body was a
.22-caliber pistol and a bullet casing, Bloomberg News says.

                  Criminal Investigations

"In criminal investigations when you have a body, a weapon and a
bullet shell evidently things point in a certain direction but
we'll have to wait and see if the investigation corroborates
this," Security Secretary Sergio Berni said in an interview on
Radio Nacional Rock, Bloomberg News discloses.  "We're very
respectful of what the family must be experiencing at the moment
so we can't give any more details," Mr. Berni added.

Cabinet Chief Jorge Capitanich said in his daily press conference
he had nothing to add to the statement released by the Security
Ministry and that investigations into the cause of death were
being carried out, Bloomberg News notes.

Lawmaker Patricia Bullrich of the opposition PRO party told TN
news channel that she had spoken to Nisman on Jan. 17 to co-
ordinate his visit to Congress Jan. 20.

"He told me had been threatened and that he was studying the case,
that he was going to give us some very strong evidence and for
that reason he had requested that the meeting should be private,"
Mr. Bullrich said, Bloomberg News relays.

                        Truth Commission

Bloomberg News says that Mr. Nisman's allegation is one of
multiple court cases against President Fernandez and her
government that threaten to weaken her influence over elections in
which a candidate for her party is tied in polls with two
aspirants opposed to her government.

Argentine prosecutors in 2006 charged Iran and the Hezbollah group
with organizing the 1994 bombing and issued eight arrest warrants,
one of them for former President Ayatollah Ali Akbar Rafsanjani,
Bloomberg News notes.  Seven years later, President Fernandez said
she signed a memorandum of understanding with the Iranians to set
up a truth commission into the bombing, Bloomberg News discloses.

According to Mr. Nisman, the aim of the accord was for Iranian
officials to be taken off Interpol's wanted list.  In exchange,
Argentina would export grains and meat to Iran and receive oil,
Mr. Nisman said.

Bloomberg News notes that Mr. Timerman said Jan. 15 that the
accusations were "lies" and accused Mr. Nisman of trying to stoke
up sentiment against President Fernandez's government during a
year in which Argentines will vote for a new president.

Since the formal accusations had already been made, it's likely
that public pressure to see the evidence Mr. Nisman had against
the government will make it difficult to cover up now, Mr.
Berensztein said.

                         Opinion Poll

Buenos Aires province Governor Daniel Scioli, who plans to run for
the presidency under Fernandez's Victory Front coalition, had 24.7
percent of voter support against 23.7 percent for Buenos Aires
City Mayor Mauricio Macri and 17.2 percent for lawmaker Sergio
Massa in a Nov. 26-Dec. 3 poll of 2,400 people carried out by
Management & Fit, Bloomberg News discloses.  The survey had a
margin of error of two percentage points.

The Israeli government said in a statement that Argentine
authorities should continue Nisman's work and "make every possible
effort to bring those behind the Argentina attacks to justice,"
Bloomberg News relates.

Ariel Lijo, a judge involved in the bombing investigation, cut
short his holiday to begin assessing Mr. Nisman's accusations and
called on prosecutors to seize the compact discs that contain the
wiretaps, Bloomberg News says.

Mr. Macri called for the accusations made by Mr. Nisman to be
investigated in full.

                        'Worldwide News'

"It can't be that Argentina makes worldwide news under the
headline 'the prosecutor who accused the president found dead'",
Macri said in a televised press conference, Bloomberg News notes.

Thousands of Argentines said they planned to hold rallies
following Nisman's death to demand justice, according to postings
on Facebook, Bloomberg News relays.

Gabriela Michetti, a senator from Macri's PRO party, said she'd
spoken to people who had been in contact with Nisman who said he
seemed sure in his decision to make public the evidence he had
against President Fernandez and that he wasn't depressed,
Bloomberg News notes.

"It's very difficult to imagine how this person arrived at this
situation -- to take his own life," Bloomberg News quoted Mr.
Michetti as saying.

President Fernandez's government, which was censured in 2013 by
the International Monetary Fund for misreporting its economic
data, has created an atmosphere of mistrust with the public that
may make it difficult for it to dismiss accusations of foul play,
Mr. Berensztein said, Bloomberg News notes.

"There's a problem in Argentina of a lack of credibility in public
announcements because of the constant manipulation of statistics,
which leads to predictable doubts," Bloomberg News quoted Mr.
Berensztein as saying.

                         *     *     *

The Troubled Company Reporter-Latin America, on Aug. 1, 2014,
reported that Argentina defaulted on some of its debt late July 30
after expiration of a 30-day grace period on a US$539 million
interest payment.  Earlier that day, talks with a court- appointed
mediator ended without resolving a standoff between the country
and a group of hedge funds seeking full payment on bonds that the
country had defaulted on in 2001.  A U.S. judge had ruled that the
interest payment couldn't be made unless the hedge funds led by
Elliott Management Corp., got the US$1.5 billion they claimed.
The country hasn't been able to access international credit
markets since its US$95 billion default 13 years ago.

As a result, reported the TCR-LA on Aug. 1, Standard & Poor's
Ratings Services lowered its unsolicited long-and short-term
foreign currency sovereign credit ratings on the Republic of
Argentina to selective default ('SD') from 'CCC-/C'.

The TCR-LA, on Aug. 4, 2014, also reported that Fitch Ratings
downgraded Argentina's Foreign Currency Issuer Default Rating
(IDR) to 'RD' from 'CC', and its Short-Term Foreign Currency
Issuer Default Rating to 'RD' from 'C'.

Meanwhile, Moody's Investors Service affirmed Argentina's Caa1
issuer rating, which also applies to domestic law bonds, confirmed
the (P)Caa2 rating for its foreign law bonds, and affirmed the Ca
rating on the original defaulted bonds. The long-term issuer
rating was placed on negative outlook, reported the TCR-LA on Aug.
5, 2014.

On Aug. 8, 2014, the TCR-LA reported that Moody's Latin America
Agente de Calificacion de Riesgo affirmed the deposit, debt,
issuer and corporate family ratings on Argentina's banks and
financial institutions, both on the global and national scales.
The outlook on these ratings has been changed to negative from
stable. At the same time, the rating agency has affirmed the
banks' Caa2 foreign-currency deposit ratings and Not-
Prime short-term ratings. The banks' standalone E financial
strength ratings corresponding to caa1 baseline credit assessments
(BCA) have also been affirmed.

The TCR-LA, On Aug. 6, 2014, also reported that DBRS Inc. has
downgraded Argentina's long-term foreign currency issuer rating
from CC to Selective Default (SD).  The short-term foreign
currency rating has been downgraded to Default (D), from R-5.  The
long-term and short-term local currency issuer ratings have been
confirmed at B (low) and R-5, respectively.  The trend on the
long-term local currency rating is Negative, and the trend on the
short-term local currency rating is Stable.

On Nov. 3, 2014, the TCR-LA reported that Fitch Ratings downgraded
Argentina's rating on Par Bonds issued under Foreign Law to 'D'
from 'C' as Argentina has not been able to cure the missed coupon
payments on its par bonds issued under foreign law after the
expiration of the 30-day grace period on Oct. 30.  According to
Fitch's criteria, this constitutes an event of default and Fitch
has downgraded the affected securities to 'D'.  In addition, Fitch
has affirmed:

   -- Foreign Currency Issuer Default Rating (IDR) at 'RD';
   -- Local Currency IDR at 'CCC';
   -- Short-term Foreign Currency IDR at 'RD';
   -- Country Ceiling at 'CCC'.
   -- Performing Foreign Law Exchanged Securities (Global 17) at
      'C';
   -- Local Currency exchanged bonds under Argentine Law at 'CCC';
   -- Foreign and Local Currency non-exchanged securities under
      Argentine Law at 'CCC';
   -- Discount Bonds issued under Foreign Law at 'D'.


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


LIVING CENTRE: To Shut Up Shop, Deloitte Appointed as Receivers
---------------------------------------------------------------
The Royal Gazette reports that Living Centre store was to close
its doors Jan. 17 and financial services firm Deloitte has been
appointed as receivers.

A legal notice in The Royal Gazette in November announced that
bankers HSBC had appointed legal firm MJM Ltd to act for it and
that Deloitte would handle the winding up of the company,
according to The Royal Gazette.

The firm, which has operated from the east end of Front Street
since 2004, announced a closing down sale last month, the report
notes.

"I have no comment on anything to do with The Living Centre.
We're closing, yes, but that's all I'm going to say," the report
quoted co-owner of The Living Centre, Danny Moniz, as saying.

The report notes that Mr. Moniz, together with brother and sister-
in-law David and Jan Moniz, bought into the firm which was then
known as the Outdoor Living Centre, around 20 years ago and took
over control in 1999.  The family later opened other furniture
stores, covering a range of markets, as well as Electronics City
on Reid Street.


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


55 NORTH CAPITAL: Commences Liquidation Proceedings
---------------------------------------------------
At an extraordinary meeting held on Nov. 18, 2014, the members of
55 North Capital Partners Ltd resolved to voluntarily liquidate
the company's business.

Only creditors who were able to file their proofs of debt by
Dec. 31, 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


ARTEPHIUS FUND: Commences Liquidation Proceedings
-------------------------------------------------
On Nov. 21, 2014, the shareholder of Artephius 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:

          Hung Lok Ming Gary
          St. George's Building
          Room 402, 4th Floor
          2 Ice House Street, Central
          Hong Kong
          Telephone: (852) 2809 3286


AUDLEY INVESTMENT III: Commences Liquidation Proceedings
--------------------------------------------------------
On Nov. 21, 2014, the members of Audley Investment III 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:

          Russell Homer
          c/o Tanya Armstrong
          Telephone: (345) 946 0820
          Facsimile: (345) 946 0864
          P.O. Box 2499 Elizabethan Square, George Town
          Grand Cayman KY1-1104
          Cayman Islands


AZURE MARINE: Commences Liquidation Proceedings
-----------------------------------------------
At an extraordinary meeting held on Nov. 20, 2014, the members of
Azure Marine Ltd. resolved to voluntarily liquidate the company's
business.

Only creditors who were able to file their proofs of debt by
Dec. 29, 2014, will be included in the company's dividend
distribution.

The company's liquidator is:

          Philip Mosely
          Harbour Centre, Ground Floor
          P.O. Box 1569 42 North Church Street, George Town
          Grand Cayman KY1-1110
          Cayman Islands
          Telephone: +1 (345) 949 4018
          Facsimile: +1 (345) 949 7891


BRIGADE CREDIT: Placed Under Voluntary Wind-Up
----------------------------------------------
On Nov. 21, 2014, the sole shareholder of Brigade Credit Offshore
Fund I 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:

          Elian Fiduciary Services (Cayman) Limited
          c/o Jonathan Turnham
          Telephone: +1 (345)815 1842
          Facsimile: +1 (345) 949-9877
          89 Nexus Way, Camana Bay
          Grand Cayman KY1-9007
          Cayman Islands


CENTILLION INVESTMENT: Placed Under Voluntary Wind-Up
-----------------------------------------------------
On Nov. 11, 2014, the sole member of Centillion Investment Funds
SPC resolved to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
Dec. 22, 2014, will be included in the company's dividend
distribution.

The company's liquidator is:

          Richard Fear
          c/o Daniel Woolston
          Telephone: (345) 814 7782
          Facsimile: (345) 945 3902
          P.O. Box 2681 Grand Cayman KY1-1111
          Cayman Islands


GALENA AZURITE: Commences Liquidation Proceedings
-------------------------------------------------
On Nov. 3, 2014, the sole shareholder of Galena Azurite 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:

          Russell Homer
          c/o Tanya Armstrong
          Telephone: (345) 946 0820
          Facsimile: (345) 946 0864
          P.O. Box 2499 Elizabethan Square, George Town
          Grand Cayman KY1-1104
          Cayman Islands


GRACCHI DIVERSIFIED: Commences Liquidation Proceedings
------------------------------------------------------
On Nov. 13, 2014, the shareholders of Gracchi Diversified
Volatility Master 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:

          Delta FS Limited
          c/o Andrew Edgington
          Telephone: (345) 743 6630
          Harbour Place, 5th Floor
          103 South Church Street
          P.O. Box 11820 Grand Cayman KY1-1009
          Cayman Islands


HUNT OMAN: Commences Liquidation Proceedings
--------------------------------------------
On Nov. 20, 2014, the members of Hunt Oman Musandam Exploration
Company resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Dec. 22, 2014, will be included in the company's dividend
distribution.

The company's liquidator is:

          Appleby Trust (Cayman) Ltd.
          c/o Richard Gordon
          75 Fort Street
          P.O. Box 1350 Grand Cayman KY1-1108
          Cayman Islands
          Telephone: +1 (345) 949 4900


HUNT OVERSEAS: Commences Liquidation Proceedings
------------------------------------------------
On Nov. 20, 2014, the members of Hunt Overseas Operating Company
(Ghana-Cayman) Ltd. resolved to voluntarily liquidate the
company's business.

Only creditors who were able to file their proofs of debt by
Dec. 22, 2014, will be included in the company's dividend
distribution.

The company's liquidator is:

          Appleby Trust (Cayman) Ltd.
          c/o Richard Gordon
          75 Fort Street
          P.O. Box 1350 Grand Cayman KY1-1108
          Cayman Islands
          Telephone: +1 (345) 949 4900


SENEGAL HUNT: Commences Liquidation Proceedings
-----------------------------------------------
On Nov. 20, 2014, the members of Senegal Hunt Oil Company resolved
to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Dec. 22, 2014, will be included in the company's dividend
distribution.

The company's liquidator is:

          Appleby Trust (Cayman) Ltd.
          c/o Richard Gordon
          75 Fort Street
          P.O. Box 1350 Grand Cayman KY1-1108
          Cayman Islands
          Telephone: +1 (345) 949 4900


TIEDEMANN GLOBAL: Placed Under Voluntary Wind-Up
------------------------------------------------
On Nov. 21, 2014, the sole shareholder of Tiedemann Global
Emerging Markets QP Ltd. resolved to voluntarily wind up the
company's operations.

Only creditors who were able to file their proofs of debt by
Dec. 22, 2014, will be included in the company's dividend
distribution.

The company's liquidator is:

          Barbara Warga Naratil
          c/o Justin Savage
          Telephone: (345) 815 1816
          Facsimile: (345) 949-9877
          Ogier
          89 Nexus Way, Camana Bay
          Grand Cayman KY1-9007
          Cayman Islands


VALU-TRAC MASTER: Placed Under Voluntary Wind-Up
------------------------------------------------
On Nov. 14, 2014, the sole shareholder of Valu-Trac Master Fund
SPC resolved to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
Dec. 22, 2014, will be included in the company's dividend
distribution.

The company's liquidator is:

          Elian Fiduciary Services (Cayman) Limited)
          c/o Jonathan Roney
          Telephone: (345) 949-9876
          Facsimile: (345) 949-9877


VALU-TRAC STRATEGIC: Placed Under Voluntary Wind-Up
---------------------------------------------------
On Nov. 14, 2014, the sole shareholder of Valu-Trac Strategic Fund
SPC resolved to voluntarily wind up the company's operations.

Only creditors who were able to file their proofs of debt by
Dec. 22, 2014, will be included in the company's dividend
distribution.

The company's liquidator is:

          Elian Fiduciary Services (Cayman) Limited)
          c/o Jonathan Roney
          Telephone: (345) 949-9876
          Facsimile: (345) 949-9877


=============
G R E N A D A
=============


GRENADA: Debt Agreement With Taiwan Strains Chinese Relations
-------------------------------------------------------------
Caribbean360.com reports that the Grenada government said it will
not apologize to any country, including China, for publicly
disclosing the names of agencies, institutions or countries that
have come forward and assist the island with dealing with its
multi-million dollar debt.

"As a nation we are beginning to reap the fruits of our endeavors,
more grants, debt restructuring, higher growth and we have a right
to say who gave us debt restructuring and we cannot apologize for
this.  If somebody is good enough to give us 30 something million
dollars we should say so, and no one has a right to disagree,"
Caribbean360.com quoted Prime Minister Dr. Keith Mitchell as
saying.

The report notes that China's ambassador to Grenada Ou Boqian
walked out of a function while a junior government minister was
making reference to an agreement reached between Taiwan and
Grenada over a long standing debt.

Under the terms of the agreement, the balance of the loan will be
repayable over 15 years, including a grace period of three and a
half years, at an interest rate of seven per cent, the report
relates.

The agreement also includes a 'hurricane clause', which will allow
Grenada to defer payments for a predetermined period should a
natural disaster compromise the Government's ability to service
debt in a timely manner in the future, the report discloses.

The report says that Parliament Secretary for Information in the
Office of the Prime Minister Winston Garraway was at the time
addressing the annual Media Association of Grenada (MWAG) Awards
ceremony when he made reference to the decision by Taiwan, which
Beijing regards as a renegade province, to reduce by 50 per cent,
the EC$60 million (One EC dollar =US$0.37 cents) the island owes
for loans contracted over a 10 year period.

Prime Minister Mitchell had told television viewers that St.
George's will only have to repay approximately EC$30 million of
the loans which became an issue when Grenada severed diplomatic
relations with Taipei in 2005, the report notes.  Grenada
established diplomatic relations with China that same year.

The Chinese diplomat, accompanied by another Chinese official,
remained outside the Grenada Trade Center until Garraway had
concluded his address, the report relays.

The report notes that Journalist Michael Bascombe, who delivered
the feature address at the awards ceremony, later posted on his
Facebook site that "there was an unfortunate situation which
bothered me for the rest of the proceedings when the Chinese
Ambassador exited briefly during the Minister's remarks.

"All I will say is that there is a time and place for everything
and certainly last night was not the time or place," Mr. Bascombe
wrote, the report notes.

The Prime Minister speaking at the signing ceremony insisted "it's
our right to say so, our sovereignty cannot be comprise by anyone.

"I think that must be loud and clear, mutual respect and
sovereignty and independence of this country and we must not
compromise on this," he added.

"When our policy differ from that of our friends we have to tell
them so and therefore if any one comes forward and provide serious
support to us we ought not to be afraid to thank them publicly and
otherwise and I don't see how anyone could not be happy with this,
whether its America, Canada or whether its Germany, wherever," Dr.
Mitchell said while explaining that not too long ago Grenada had
to counsel America about continuing its embargo on Cuba, the
report relays.

The Chinese Embassy has not commented on the incident but the
Chinese ambassador is reported to have objected to the wording of
the news release announcing the deal reached with Taipei, the
report notes.

Grenada established diplomatic relations with China in 2005, the
same year it broke off relations with Taipei.


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


SCHLUMBERGER: No Job Cuts at Schlumberger Trinidad
--------------------------------------------------
Carolyn Kissoon at Trinidad Express reports that while
Schlumberger international has announced job cuts, Schlumberger
Trinidad Inc. has not announced a reduction in workforce.

Trinidad Express was informed that management was meeting to
discuss international developments.

"But what I can tell you is as of now no one has been fired
because of falling oil and gas prices," the report quoted an
unnamed Schlumberger official as saying.

Schlumberger Ltd provides exploration and production services to
oil and gas companies around the world.  Schlumberger's services
include seismic, drilling services, reservoir characterization,
well completions, production and well intervention.

The workforce reduction, coupled with the reduction and
reassessment of its WesternGeco fleet, was among the steps leading
to a US$1.77 billion fourth-quarter charge in expectation of lower
spending by customers in 2015, according to the Houston- and
Paris-based company's earnings report, the report relates.

Schlumberger is the premier oilfield service provider in the
world. It provides services such as Seismic Acquisition & Data
Processing, Drilling and Measurements, Wireline Logging, Well
Testing, Well Completions, Cementing, Stimulation, Information
Solutions and Project Management amongst others. They have a long
history in Trinidad where they have been providing oilfield
services for 75 years.  Its subsidiary, Schlumberger Trinidad
Inc., is located in Victoria Av Port of Spain.


TRINIDAD & TOBAGO: Assures No Job Cuts Amid Budget Shortfall
------------------------------------------------------------
Leah Sorias at Trinidad Express reports that Trinidad and Tobago
Planning Minister Dr. Bhoe Tewarie assured that there are no job
cuts amid measures being undertaken by government to meet the
TT$7.4 billion budget shortfall due to falling oil prices.

Dr. Tewarie said while there will be cutbacks in expenditure in
some ministries as stated by the Prime Minister recently, this
will not include workers being sent home, according to Trinidad
Express.

The report relates that Dr. Tewarie said, though, in cases where
there are temporary workers on very short-term contracts, for
instance six month contracts, it may be hard for Government to
honor those contracts indefinitely.

"But the people who are contract workers in the Ministry and they
have three years contract or whatever it is, those people are not
going to be touched.  Certainly the permanent workers or workers
who are part of the public service are not going to be touched,"
the report quoted Dr. Tewarie as saying.

Also remaining untouched, Dr. Tewarie said, is the country's
housing development program and Government's ability to provide
homes for citizens, the report notes.

Dr. Tewarie said the cutbacks in the Ministry of Housing will be
made to infrastructure projects which deal with the preparation of
land for housing, the report relays.

"Because of the preparatory stage at which it is and because of
the demand for cash flow and how we configure that and how quickly
they can start, we've been able to get about TT$100 million out of
that as possible savings.  Now we may say TT$100 million and it
may end up being TT$80 million or TT$90 million, but this is what
we are targeting as an adjustment," Dr. Tewarie said, the report
relays.

Dr. Tewarie said in the Ministry of Works and Infrastructure
another TT$180 million will be saved, the report notes.

The Minister stressed that Government will not interfere with the
construction and completion of schools and the refurbishment of
health facilities, the report relays.

Dr. Tewarie identified a TT$20 million cutback in the Ministry of
Trade, stating that the completion of four industrial estates will
be held back, adds the report.


=============
U R U G U A Y
=============


URUGUAY: Gets $247M IDB Loan for Int'l. Positioning Project
-----------------------------------------------------------
The Inter-American Development Bank (IDB) approved a $247 million
credit to finance the third and last stage of a program that will
help to consolidate Uruguay's international positioning by
attracting investments in high value-added sectors, improving the
promotion and ease of trade and developing local innovation and
technological absorptive capacities.

The first stage of the Strategic International Positioning Project
was approved in March of 2013 with an IDB financing of $550
million, and the second was approved in November of 2014 with a
financing of $120 million.  This is the third and last stage of
this series of programmatic loans, with an option for deferred
draw-down, in support of policy changes and is part of the
precautionary financial policy undertaken by the country.

"With this operation we complete a series of interventions to
strengthen the regulatory and institutional framework for
attracting investments, by simultaneously addressing cross-cutting
factors and at the same time moving forward with reforms to
improve measures for trade facilitation and access to third
markets for the investments that arrive in the country," said
Pablo Garcia, IDB project team leader.

This third stage puts special emphasis on supporting actions to
facilitate trade, such as the institutionalization of the Single
Window for Foreign Trade, enactment of the new Customs Code of
Uruguay and the training of the National Customs Directorate to
carry out the changes in the new code.

Other actions supported are the mainstreaming of the best
international practices on the issue, such as the Single Customs
Document, electronic seals, the risk management system and the
work of a Qualified Economic Operator.

The project also will contribute to improving local capabilities
for innovation and technological absorption through reforms that
will promote investigations, the formation of human capital and
business innovation in established enterprises.

On this issue, one specific part of the program includes
activities that favor the development of new and innovative
enterprises that can serve as a framework for implementing new
ways to expand the population's entrepreneurial capacity, and
support the initial development of innovative undertakings through
specialized services for incubation, seed capital and private
investment funds. It will also promote links between enterprises
and academia by creating or strengthening cooperative networks and
sector technological centers.

The IDB loan of $247 million is for 20 years, with the option of
deferred draw-downs for up to three years, renewable for another
three years, and an interest rate based on LIBOR. The interest
applies only if Uruguay uses the loan.


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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 2015.  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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