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

            Friday, May 29, 2015, Vol. 16, No. 105


                            Headlines



B R A Z I L

LUPATECH S.A.: Files For Bankruptcy For the Second Time


C A Y M A N  I S L A N D S

AEM SELECT: Creditors' Proofs of Debt Due June 16
BLUESKY CLOUDS: Sole Member to Hear Wind-Up Report on June 23
CHEYNE ABI: Creditors' Proofs of Debt Due June 5
GGI SRI: Creditors' Proofs of Debt Due June 16
ICP STRATEGIC: Liquidators Sue Barclays for $80 Million

LATIMER CAYMAN I: Shareholder to Hear Wind-Up Report on June 3
LION ADVENTURE: Shareholders' Final Meeting Set for June 3
MARICOT LTD: Shareholder to Hear Wind-Up Report on June 12
ML KNIGHT 2003: Creditors' Proofs of Debt Due June 16
TIGER GLOBAL XIII: Creditors' Proofs of Debt Due June 5

TIGER GLOBAL XIV: Creditors' Proofs of Debt Due June 5
* CAYMAN ISLAND: Banking System Seen as Soft Target


C H I L E

CHILE: Attracts as Much Foreign Direct Investment as Mexico


G U A T E M A L A

GUATEMALA: Central Bank Head Indicted as Crisis Deepen
GUATEMALA: Moody's Alters Outlook on Gov't. Bond Ratings to Neg.


J A M A I C A

JAMAICA: Equities Market on the Rebound


M E X I C O

OHL MEXICO: Plans to Bribe Judges, New Recordings Appear to Show


                            - - - - -


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B R A Z I L
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LUPATECH S.A.: Files For Bankruptcy For the Second Time
-------------------------------------------------------
Law360 reports that Brazilian industrial valve manufacturer
Lupatech SA has filed for bankruptcy for the second time in as
many years, blaming the company's financial problems on a drop in
world oil prices that it says has hurt businesses that support the
energy industry's supply chain.

Lupatech said in a statement on May 25 that it filed for
bankruptcy in Sao Paulo court and is looking to restructure. The
announcement comes less than a year after Lupatech emerged from
bankruptcy in June 2014.


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


AEM SELECT: Creditors' Proofs of Debt Due June 16
-------------------------------------------------
The creditors of AEM Select Fund, Ltd. are required to file their
proofs of debt by June 16, 2015, to be included in the company's
dividend distribution.

The company commenced liquidation proceedings on May 7, 2015.

The company's liquidator is:

          Mervin Solas
          c/o Maples Liquidation Services (Cayman) Limited
          PO Box 1093, Boundary Hall
          Grand Cayman KY1-1102
          Cayman Islands


BLUESKY CLOUDS: Sole Member to Hear Wind-Up Report on June 23
-------------------------------------------------------------
The sole member of Bluesky Clouds Ltd. will hear on June 23, 2015,
at 10:00 a.m., the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

          Lion International Management Limited
          Craigmuir Chambers
          Road Town, Tortola VG1110
          British Virgin Islands


CHEYNE ABI: Creditors' Proofs of Debt Due June 5
------------------------------------------------
The creditors of Cheyne Abi Fund Inc. are required to file their
proofs of debt by June 5, 2015, to be included in the company's
dividend distribution.

The company commenced liquidation proceedings on April 17, 2015.

The company's liquidator is:

          Mourant Ozannes Cayman Liquidators Limited
          c/o Jo-Anne Maher
          Telephone: (345) 814-9255
          Facsimile: (345) 949-4647
          94 Solaris Avenue, Camana Bay
          P.O. Box 1348 Grand Cayman KY1-1108
          Cayman Islands


GGI SRI: Creditors' Proofs of Debt Due June 16
----------------------------------------------
The creditors of GGI SRI, Ltd. are required to file their proofs
of debt by June 16, 2015, to be included in the company's dividend
distribution.

The company commenced liquidation proceedings on May 8, 2015.

The company's liquidator is:

          Mervin Solas
          c/o Maples Liquidation Services (Cayman) Limited
          PO Box 1093, Boundary Hall
          Grand Cayman KY1-1102
          Cayman Islands


ICP STRATEGIC: Liquidators Sue Barclays for $80 Million
-------------------------------------------------------
Patrick Fitzgerald at The Wall Street Journal reports that the
liquidators of a pair of failed Cayman Islands-based hedge funds
run by a former Harvard quarterback are suing Barclays PLC to claw
back some $80 million they say was illegally funneled to the bank
to cover margin calls.

The offshore funds -- ICP Strategic Credit Income Fund Ltd. and
ICP Strategic Credit Income Master Fund Ltd. -- were so-called
feeder funds managed by ICP Asset Management LLC, a money-
management firm founded by Thomas C. Priore, according to The Wall
Street Journal.

The report notes that lawyers for the liquidators said in a suit
filed in U.S. Bankruptcy Court in New York that Mr. Priore, ICP's
46-year-old founder and former Harvard University quarterback,
fraudulently transferred more than $40 million to Barclays to
cover margin calls at a troubled collateralized debt obligation
known as Triaxx.

"Barclays knowingly participated in ICP Asset Management's and
Priore's fraudulent purposes," lawyers for the liquidators said,
the report relays.  "Barclays knew that during the first half of
2008, ICP Asset Management and Priore caused other investment
vehicles they managed to make over $40 million in fraudulent
transfers to Barclays to cover Triaxx Funding's margin
obligations," the lawyers said.

In U.S. bankruptcy proceedings, a judge can find certain transfers
or payments to be fraudulent if a company was insolvent when
taking on new liabilities, the report discloses.  The $80 million
liquidators are seeking comes from the addition of interest and
damages, the report relays.

The report discloses that the Triaxx CDOs were loaded with $11
billion in mortgage-backed securities issued at the tail end of
the housing boom.  When the value of its mortgage holdings tanked
in 2008, Triaxx was on the hook for margin payments to its repo
lender, Barclays, the report relays.

The Cayman liquidators said Mr. Priore tried to keep Triaxx afloat
by funneling money from the hedge funds to cover the margin calls
to Barclays, the report notes.

"In effect, Barclays assisted ICP Asset Management and Priore in
laundering the looted funds from the Master Fund by concealing the
fact that the Master Fund was paying Triaxx Funding's interest
obligations and expenses," the lawsuit said, the report says.

The report notes that the liquidators, two London-based Grant
Thornton accountants, put the funds into bankruptcy in the U.S. a
little more than two years ago under chapter 15, the section of
the bankruptcy code dealing with international insolvencies.  At
the time, the liquidators said they placed the funds in chapter 15
to help them locate and claw back assets in the U.S. for the
benefit of the funds' creditors, the report relays.

The ICP hedge funds were created for foreign and tax-exempt
investors to avoid U.S. tax laws. Investors pumped $245 million
into the funds, which were invested in CDOs known as Triaxx, the
report relays.

In 2010, the Securities and Exchange Commission accused Mr. Priore
and ICP of defrauding investors in similar Triaxx deals, the
report recalls.  Mr. Priore settled, without admitting guilt, with
the SEC for $23.6 million, the report relates.  Mr. Priore also
agreed to a five-year ban from working as a broker, dealer,
investment adviser, municipal securities dealer or transfer agent,
the report adds.


LATIMER CAYMAN I: Shareholder to Hear Wind-Up Report on June 3
--------------------------------------------------------------
The shareholder of Latimer Cayman I Limited will hear on June 3,
2015, at 9:00 a.m., the liquidator's report on the company's wind-
up proceedings and property disposal.

The company's liquidators are:

          E. Andrew Hersant
          Christopher Humphries
          Stuarts Walker Hersant Humphries
          36A Dr. Roy's Drive, George Town
          P.O. Box 2510, Grand Cayman KY1-1104
          Cayman Islands


LION ADVENTURE: Shareholders' Final Meeting Set for June 3
----------------------------------------------------------
The shareholders of Lion Adventure Cayman Limited will hold their
final meeting on June 3, 2015, at 9:00 a.m., to receive the
liquidator's report on company's wind-up proceedings and property
disposal.

The company's liquidators are:

          E. Andrew Hersant
          Christopher Humphries
          Stuarts Walker Hersant Humphries
          36A Dr. Roy's Drive, George Town
          P.O. Box 2510, Grand Cayman KY1-1104
          Cayman Islands


MARICOT LTD: Shareholder to Hear Wind-Up Report on June 12
----------------------------------------------------------
The shareholder of Maricot Ltd will hear on June 12, 2015, the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

          Commerce Corporate Services Limited
          P.O. Box 694 Grand Cayman
          Cayman Islands
          Telephone: 949 8666
          Facsimile: 949 0626


ML KNIGHT 2003: Creditors' Proofs of Debt Due June 16
-----------------------------------------------------
The creditors of ML Knight 2003 Holding Corp. are required to file
their proofs of debt by June 16, 2015, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on May 11, 2015.

The company's liquidator is:

          Mervin Solas
          c/o Maples Liquidation Services (Cayman) Limited
          PO Box 1093, Boundary Hall
          Grand Cayman KY1-1102
          Cayman Islands


TIGER GLOBAL XIII: Creditors' Proofs of Debt Due June 5
-------------------------------------------------------
The creditors of Tiger Global PIP V China Holdings XIII, Ltd. are
required to file their proofs of debt by June 5, 2015, to be
included in the company's dividend distribution.

The company commenced wind-up proceedings on May 11, 2015.

The company's liquidator is:

          Gregory Seidell
          c/o Campbells
          Willow House, Floor 4
          Cricket Square
          Grand Cayman KY1-1103
          Cayman Islands
          Telephone: +1 (345) 949 2648
          Facsimile: +1 (345) 949 8613


TIGER GLOBAL XIV: Creditors' Proofs of Debt Due June 5
------------------------------------------------------
The creditors of Tiger Global PIP V China Holdings XIV, Ltd. are
required to file their proofs of debt by June 5, 2015, to be
included in the company's dividend distribution.

The company commenced wind-up proceedings on May 11, 2015.

The company's liquidator is:

          Gregory Seidell
          c/o Campbells
          Willow House, Floor 4
          Cricket Square
          Grand Cayman KY1-1103
          Cayman Islands
          Telephone: +1 (345) 949 2648
          Facsimile: +1 (345) 949 8613


* CAYMAN ISLAND: Banking System Seen as Soft Target
---------------------------------------------------
RJR News reports that the police in Cayman are warning that credit
card scammers see the country's banking system as a soft target.

The Royal Cayman Islands Police Service made the statement,
following its investigation of the Romanian gang jailed for fraud,
according to RJR News.

The police said that the gang fleeced financial institutions of
tens of thousands of dollars from several ATMs, the report
relates.

The report discloses that the police recovered the cards, along
with a large sum of money, following a search of a hotel where the
gang was staying.


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C H I L E
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CHILE: Attracts as Much Foreign Direct Investment as Mexico
-----------------------------------------------------------
Philip Sanders at Bloomberg News reports that Chile bucked the
trend in Latin America last year with an increase in foreign
direct investment, attracting almost as much as Mexico, a country
with seven times the population, according to the United Nations
Latin American and Caribbean unit.

While Mexico received $22.8 billion, Chile lured $22 billion, said
the organization, known as Cepal for its initials in Spanish,
according to Bloomberg News.  The only country to receive more in
Latin America and the Caribbean was Brazil with $62.5 billion, the
report relates.

The report says that the FDI into Latin America and the Caribbean
fell 16 percent last year from 2013, with investment into Mexico
tumbling 49 percent, while Brazil declined 2 percent.  Investment
into Chile, the region's wealthiest nation, rose 14 percent over
the same period, the only major country in Latin America to see an
increase, the report discloses.

More should now be done to diversify investment, Cepal said, the
report notes.

Policies "shouldn't be designed to recover the amount of direct
foreign investment reached in the past decade, but in attracting
FDI that contributes to productive diversification," said Alicia
Barcena, Cepal's executive secretary, the report discloses.

Investment in Mexico should pick up over the next few years as
President Enrique Pena Nieto implements constitutional changes
adopted in 2013 to end a seven-decade state monopoly on oil and
gas, said Alexis Milo, chief Mexico economist at Deutsche Bank AG,
the report relays.

"A country like Mexico should be receiving a larger amount," Mr.
Milo told Bloomberg in a by phone interview from Mexico City.
"It's underperforming," Mr. Milo added.

The money flowing into Chile rose even as the economy grew at its
slowest pace since the 2009 recession, with business leaders
blaming government policies for deterring investment, the report
relays.  Those policies included higher corporate taxes and plans
to expand the powers of labor unions, the report notes.

Attracted by Chile's expanding middle and upper class, Lamborghini
opened its first showroom in 2014, Christie's opened its first
fine art auction room and Wendy's started selling Baconator
burgers in the capital, Santiago, the report adds.


=================
G U A T E M A L A
=================


GUATEMALA: Central Bank Head Indicted as Crisis Deepen
------------------------------------------------------
Michael McDonald at Bloomberg News reports that Guatemalan Central
Bank President Julio Suarez was indicted for fraud as part of an
investigation into contracts issued by the Social Security
Institute, deepening a political crisis in Central America's
largest economy.

President Suarez was indicted, along with 16 other people, for his
role in approving a 116 million-quetzal ($15 million) contract for
blood dialysis services awarded by the Social Security Institute,
according to Bloomberg News.

Bloomberg News notes that the move comes as President Otto Perez
Molina revamps his cabinet and fends off calls by protesters to
resign about three months before national elections.

After listening to the proceedings from a cage in the courtroom,
Mr. Suarez testified that the institute's board didn't have
administrative responsibilities for issuing contracts and that he
complied with the law in carrying out his duties, Bloomberg News
relates.

Mr. Suarez, who used to represent Guatemala before the
International Monetary Fund, has a seat on the board because of
his position at the central bank, Bloomberg News notes.
The court dismissed that view.

"You were irresponsible by not reviewing the contract," Judge
Silvia De Leon Santos told the defendants from her courtroom in
Guatemala City, Bloomberg News says.  "You had the chance to
reject it and you didn't," Judge De Leon added.

                          'Totally False'

All 17 defendants, including the director of the institute and
former Perez Molina aide Juan de Dios Rodriguez, were sent to
prison to await a July 27 hearing, Bloomberg News notes.
Prosecutors will then present evidence to a court that will decide
if the case proceeds to trial, Bloomberg News relays.

Since the start of 2015, Perez Molina has fired or accepted the
resignation of his vice president, tax chief, two energy
ministers, environment minister and head of intelligence for
reasons that included corruption allegations, Bloomberg News
discloses.

Mr. De Leon called claims that his cabinet is falling apart
"totally false." Bi-weekly protests calling for his resignation
have grown since April, peaking May 16 when 60,000 people took to
the streets, Bloomberg News notes.

About an hour after the indictment was issued, Moody's Investors
Service lowered its outlook on the country to negative, citing the
political crisis it said has "rapidly escalated," Bloomberg News
says.

The company maintained its Ba1 rating, which leaves the $54
billion economy in the same category as Russia and Portugal,
Bloomberg News notes.

Guatemala's interim central bank president, Sergio Recinos, said
at a news conference that Moody's is "overreacting to short-term
circumstances.  Everything is being resolved in a peaceful, lawful
manner," Bloomberg News discloses.

                          Falling Bonds

"The probability that domestic political events could negatively
affect macroeconomic stability and government financial strength
remains low, but has risen as a result of the heightened
uncertainty surrounding the outcome of the political crisis,"
Moody's said in the report obtained by Bloomberg News.

Guatemala's dollar bonds have lost 1.4 percent this month, the
most of any Latin American nation, according to JPMorgan Chase &
Co.'s EMBIG index, Bloomberg News notes.  The yield on the
country's notes maturing in 2022 have climbed 23 basis points, or
0.23 percentage point, to 4.32 percent on May 27, Bloomberg News
relays.

Bloomberg News notes that Mr. Recinos said that the country's
bonds are "experiencing normal fluctuations" when compared to
other countries in Latin America.  "Guatemala can't be compared to
Venezuela. Venezuela has much more serious political problems,"
Mr. Recinos said, adding the central bank is functioning "at 100
percent with all its services and activities," Bloomberg News
notes.

Bloomberg News relays that Mr. Suarez's attorney, Vinicio Garcia,
said that "the imprisonment of my client could have grave
consequences for the country's economy."

Mr. Suarez's indictment also came one day before the monetary
policy committee maintained the country's benchmark interest rate
at 3.5 percent since lowering it from 4 percent in February,
Bloomberg News adds.


GUATEMALA: Moody's Alters Outlook on Gov't. Bond Ratings to Neg.
----------------------------------------------------------------
Moody's Investors Service revised the outlook on Guatemala's
government bond ratings to negative from stable. Concurrently,
Moody's has affirmed the foreign and local currency government's
issuer ratings and senior unsecured ratings at Ba1.

Moody's decision to revise the outlook on Guatemala's ratings is
due to an ongoing political crisis that has rapidly escalated,
triggered by corruption scandals that implicate high ranking
government officials and that has led to widespread street
demonstrations. The probability that domestic political events
could negatively affect macroeconomic stability and government
financial strength remains low, but has risen as a result of the
heightened uncertainty surrounding the outcome of the political
crisis.

Moody's baseline scenario is that general elections will take
place as scheduled on September 2015, and even if President Otto
P‚rez Molina is not able to finish his presidential term, which
ends January 2016, an interim government would take his place.
However, given the unprecedented recent political events, Moody's
can no longer rule out the possibility that a prolonged political
crisis could lead to an institutional and governability crisis,
contributing to periods of economic policy unpredictability and
adversely impacting Guatemala's macroeconomic prospects.

The country ceilings remain unchanged. The long-term local
currency bond and deposit ceilings are Baa1, the long-term foreign
currency deposit ceiling is Ba2, and the long-term foreign
currency bond ceiling is Baa3.

Guatemala's Ba1 ratings balance the government's long-standing
commitment to prudent fiscal and monetary policies, small current
account deficits, a flexible exchange rate, moderate fiscal
deficits and a manageable debt burden with low income levels, high
poverty rates, moderate medium-term growth prospects, and very
weak institutions. Weak institutions are reflected in the very low
scores of rule of law and government effectiveness of the World
Bank governance indicators, and are also evidenced by the recent
corruption scandals that affect different levels of government.

The outlook could be revised to stable if (i) political stability
is restored and (ii) macroeconomic stability and commitment to
conservative fiscal management are preserved throughout the
political crisis.

Sovereign ratings of Guatemala could experience downward pressure
if (i) the political crisis evolves into an institutional and
governability crisis, (ii) there is an erosion of the country's
longstanding commitment to conservative fiscal management, or
(iii) a deterioration in economic performance results in
persistently higher debt ratios.

The country ceilings did not change as a result of this action.
The long-term local currency bond and deposit ceilings remain at
Baa1. The long-term foreign currency deposit ceiling remains at
Ba2. The long-term foreign currency bond ceiling remains at Baa3.
The short-term foreign currency bond ceiling remains at P-3, while
all other short-term ceilings remain at Not Prime. Country
ceilings reflect a range of undiversifiable risks to which issuers
in any jurisdiction are exposed, including economic, legal and
political risks. These ceilings act as a cap on ratings that can
be assigned to the foreign and local-currency obligations of
entities domiciled in the country.

  -- GDP per capita (PPP basis, US$): 7,503 (2014 Actual) (also

    known as Per Capita Income)

  -- Real GDP growth (% change): 4.2% (2014 Actual) (also known as
     GDP Growth)

  -- Inflation Rate (CPI, % change Dec/Dec): 2.9% (2014 Actual)

  -- Gen. Gov. Financial Balance/GDP: -1.9% (2014 Actual) (also
     known as Fiscal Balance)

  -- Current Account Balance/GDP: -2.4% (2014 Actual) (also known
     as External Balance)

  -- External debt/GDP: 26.2% (2014 Actual)

  -- Level of economic development: Low level of economic
     resilience

Default history: At least one default event (on bonds and loans)
has been recorded since 1983.

On May 22, 2015, a rating committee was called to discuss the
rating of the Guatemala, Government of. The main points raised
during the discussion were: The issuer's institutional strength/
framework, have materially decreased. The issuer has become
increasingly susceptible to event risks, as domestic political
risk has increased.

The principal methodology used in these ratings was Sovereign Bond
Ratings published in September 2013.

The weighting of all rating factors is described in the
methodology used in this rating action, if applicable.


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J A M A I C A
=============


JAMAICA: Equities Market on the Rebound
---------------------------------------
RJR News reports that Bank of Jamaica data are showing further
evidence that the equities market has rebounded.

For the 12 months ended March this year, all Jamaica Stock
Exchange indices, with the exception of the Junior Market Index,
rose relative to the annual changes as at the end of  December
last year, according to RJR News.

The decline in the Junior Market Index was smaller than that
registered at the end of 2014, in keeping with the general
positive trend, the report notes.

For the JSE Main Index, there was growth of eleven per cent, in
contrast to declines of 5.3% and 0.2% for the prior review period
and the five-year average, the report says.

                          *     *     *

As reported in the Troubled Company Reporter-Latin America on
Feb. 23, 2015, Fitch Ratings has affirmed Jamaica's long-term
foreign and local currency Issuer Default Ratings (IDRs) at 'B-'.
The issue ratings on Jamaica's senior unsecured foreign and local
currency bonds are also affirmed at 'B-'.  The Rating Outlooks on
the long-term IDRs are revised to Positive from Stable.  The
Country Ceiling is affirmed at 'B' and the short-term foreign
currency IDR at 'B'.


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


OHL MEXICO: Plans to Bribe Judges, New Recordings Appear to Show
----------------------------------------------------------------
EFE News reports that newly leaked secret audio recordings
uploaded to YouTube and picked up by several Mexican media outlets
appear to show toll-road operator OHL Mexico's then-head of
institutional relations, Pablo Wallentin, talking about bribing
Mexican judges.

The latest leaked recordings come as the Mexican unit of Spanish
construction and civil engineering group OHL is under fire over
higher tolls charged to motorists for use of the Viaducto
Bicentenario in the central state of Mexico, according to EFE
News.

OHL Mexico is a construction and highway management company.

As reported in the Troubled Company Reporter-Latin America on
May 15, 2015, EFE News said that Mexican opposition senators are
calling for a thorough investigation into possible wrongdoing by
the Mexican unit of Spanish construction group OHL and local
government authorities in the setting of highway tolls.

Two senators representing that state -- Laura Angelica Rojas, a
member of the conservative National Action Party, or PAN, and
Alejandro Encinas, of the leftist Party of the Democratic
Revolution, or PRD -- led the call for the probe, according to EFE
News.


                            ***********


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.

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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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