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

            Thursday, August 6, 2015, Vol. 16, No. 154


                            Headlines



A R G E N T I N A

ARGENTINA: IDB OKs $14.4MM Loan for Energy Efficiency Project


B R A Z I L

PETROLEO BRASILEIRO: Ex-Chief Arrested by Police in Probe


C A Y M A N  I S L A N D S

DIA VALENCIA: Creditors' Proofs of Debt Due Aug. 18
DINVEST GLOBAL: Creditors' Proofs of Debt Due Aug. 19
HITS AFRICA: Creditors to Hold Annual Meeting on Aug. 27
SELECTINVEST ALTERNATIVE: Creditors' Proofs of Debt Due Aug. 19
SELECTINVEST ARV MC: Creditors' Proofs of Debt Due Aug. 19

SELECTINVEST ARV 1.25X: Creditors' Proofs of Debt Due Aug. 19
SELECTINVEST ARV 2.00X: Creditors' Proofs of Debt Due Aug. 19
SELECTINVEST EVENT: Creditors' Proofs of Debt Due Aug. 19
SELECTINVEST INSTITUTIONAL: Creditors' Proofs of Debt Due Aug. 19
SELECTINVEST MULTISTRATEGY: Creditors' Proofs of Debt Due Aug. 19


D O M I N I C A N   R E P U B L I C

DOMINICAN REP: Coraasan Starts Rationing Water as Dam Dries Up


J A M A I C A

JAMAICA: Hughes Pushes for More Business With Venezuela


M E X I C O

FRONTIER STAR: Proposes to Employ Cavanagh Law Firm as Attorneys
FRONTIER STAR: Seeks Joint Administration of Ch. 11 Cases
MEXICO: Remittances to Rise Nearly 4% in First 6 Months of 2015


P U E R T O   R I C O

CIDRA METALLIC: Case Summary & 4 Largest Unsecured Creditors


T R I N I D A D  &  T O B A G O

CL FIN'L: Don't Appeal Judgment on Bailout Info, CRF Says


                            - - - - -



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


ARGENTINA: IDB OKs $14.4MM Loan for Energy Efficiency Project
-------------------------------------------------------------
The Inter-American Development Bank (IDB) has approved non-
refundable financing of $14.4 million from the Global
Environmental Facility, to support a project in Argentina that
incorporates energy efficiency and renewable energy measures to
improve the quality of life of families and reduce greenhouse
gases.

"This project is highly innovative because it will establish new
technical standards and specifications for the construction of
low-cost housing that is energy efficient. There are no precedents
for projects of this magnitude and reach in Latin America and the
Caribbean," said Alberto Levy, the IDB project team leader.

To this end, 128 prototypes with very low greenhouse gas emissions
will be built in Argentina's eight bio-climactic zones.  Renewable
energy schemes adapted to each of the zones will be used in the
projects, which will be monitored for one year.  Inspections also
will be carried out during the different construction stages and
during housing use.

The project is also expected to strengthen the market for the
development of technology for energy efficiency and renewable
energy by establishing new minimum standards for the construction
of low-cost housing.

The project is highly complex because of the participation of 12
federal, provincial and public agencies and institutions in
Argentina.

The non-refundable financing approved by the IDB will be in
addition to $70.7 million in local matching funds and an IDB
technical cooperation grant of $1 million.

                        *     *     *

As reported in the Troubled Company Reporter-Latin America on
April 22, 2015, Moody's Investors Service expanded the portion of
Argentina's debt that is rated (P)Caa2. The (P)Caa2 rating
reflects the higher risk of default for both Argentina's
restructured foreign legislation debt (as before) and,
additionally now, its restructured local legislation foreign
currency obligations, as compared with the risk of default on
other debt instruments issued by Argentina.  Argentina's local
currency debt and its non restructured foreign currency debt are
rated Caa1. The debt that remains in default since Argentina's
2001 default is rated Ca.

On June 9, 2015, the TCR-LA citing EFE News, reported that U.S.
District Judge Thomas Griesa has handed down a new decision
against Argentina in a long-running debt case, ruling that the
country must pay $5.4 billion to a group of "me-too" creditors
based on an equal-treatment provision in their bond contracts. The
more than 500 plaintiffs hold debt that Argentina defaulted on in
2001 and refused to join the vast majority of creditors in
accepting steep haircuts in 2005 and 2010 restructurings.

On April 14, 2015, the TCR-LA reported that Law360.com said
Argentina appealed a New York federal court's order that blocked
Citibank NA from forwarding the country's intended payments on a
$2.3 billion basket of bonds, weeks after the court allowed
Citibank to pass on the payments anyway as it exited the custody
business in Argentina.   Citibank was dragged into the bond
repayment fight after Argentina said it wanted to make the
payments on the $2.3 billion in bonds to its favored creditors
despite a 2012 injunction blocking it from doing so without also
making payments to a group of hedge funds seeking full repayment,
according to Law360.com.  Citibank had said that its status in the
country would be jeopardized if it couldn't act as a conduit for
the dollar-dominated Argentine-law bonds, but U.S. District Judge
Thomas Griesa ruled last month that his 2012 injunction applied to
Citibank and it could not process the payment, notes the report.

On Aug. 1, 2014, the TCR-LA 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.


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


PETROLEO BRASILEIRO: Ex-Chief Arrested by Police in Probe
---------------------------------------------------------
The Wall Street Journal reports that a corruption probe
threatening to engulf Brazil's government intensified as police
arrested a former top minister of ex-President Luiz Inacio Lula da
Silva for allegedly orchestrating a scheme that looted billions of
dollars from oil giant Petroleo Brasileiro SA.

Authorities said Jose Dirceu, who served as Mr. da Silva's chief
of staff from 2003 to 2005, was one of the principle architects of
a bid-rigging-and-bribery ring that funneled money stolen from
state-run Petrobras into the pockets of politicians and parties,
including the ruling Workers' Party, according to The Wall Street
Journal.

The report notes that Mr. Dirceu was arrested at his home in the
capital of Brasilia on suspicion of corruption and money
laundering.  He hasn't been charged.

The Wall Street Journal says that the arrest is yet another blow
to the top leadership of the leftist Workers' Party.

Mr. Dirceu was among its founders, along with Mr. da Silva, and
played a key role in getting him elected president.

In March, Workers' Party Treasurer Joao Vaccari Neto was charged
with corruption and money laundering for accepting allegedly
illegal campaign contributions that prosecutors say he solicited
from a Petrobras official, the report adds.

                   About Petroleo Brasileiro

Based in Rio de Janeiro, Brazil, Petroleo Brasileiro S.A. --
Petrobras (Brazilian Petroleum Corporation) -- explores for oil
and gas and it produces, refines, purchases, and transports oil
and gas products.  The Company has proved reserves of about 14.1
billion barrels of oil equivalent and operates 16 refineries, an
extensive pipeline network, and more than 8,000 gas stations.

                       *     *     *

As reported in the Troubled Company Reporter-Latin America on
March 12, 2015, Moody's Investors Service said the corruption
investigation into Petroleo Brasileiro S.A. (Petrobras) will
negatively affect parts of the public and private sectors, but
government support for the company is likely to help contain the
credit-negative impact.

On March 6, 2015, the TCLRA reported that the deepening
investigation into the alleged kickback scheme at Petrobras has
triggered concerns for the Brazilian banks with exposures not only
to the state-controlled oil company, but also to its large base of
suppliers, as well as the broader oil and gas (O&G) and
construction industries, says Moody's Investors Service.

Moody's Investors Service downgraded all ratings for Petrobras,
including a downgrade of the company's senior unsecured debt to
Ba2 from Baa3, and assigned a Ba2 Corporate Family Rating to the
company, the TCRLA reported on Feb. 27, 2015.  Its failure to
estimate its losses from the alleged corruption scheme and produce
audited third-quarter results prompted Moody's to cut its rating
to junk, the report said.

Rival agency Standard & Poor's delivered a further blow on March
23 when it revised its outlook on the company from stable to
negative, the TCRLA reported on March 26, 2015.

On Feb. 10, 2015, TCRLA said Fitch Ratings has downgraded the
foreign and local currency Issuer Default Ratings (IDRs) and
outstanding debt ratings of Petrobras to 'BBB-' from 'BBB'.
Concurrently, Fitch has placed all of Petrobras' international and
national scale ratings on Rating Watch Negative.


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


DIA VALENCIA: Creditors' Proofs of Debt Due Aug. 18
---------------------------------------------------
The creditors of Dia Valencia Leasing Ltd. are required to file
their proofs of debt by Aug. 18, 2015, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on July 9, 2015.

The company's liquidators are:

          Benjamin Booker
          Marguerite Britton
          P.O. Box 1043 Grand Cayman KY1-1102
          Cayman Islands
          Telephone: 345-640-6600


DINVEST GLOBAL: Creditors' Proofs of Debt Due Aug. 19
-----------------------------------------------------
The creditors of Dinvest Global Equity (Cayman) Ltd. are required
to file their proofs of debt by Aug. 19, 2015, to be included in
the company's dividend distribution.

The company commenced liquidation proceedings on June 24, 2015.

The company's liquidator is:

          Stuart Sybersma
          c/o Robbie Cribb
          Deloitte & Touche
          Citrus Grove Building, 4th Floor
          Goring Avenue George Town KY1-1109
          Cayman Islands
          Telephone: +1 (345) 814 2254
          Facsimile: +1 (345) 949 8258


HITS AFRICA: Creditors to Hold Annual Meeting on Aug. 27
--------------------------------------------------------
The creditors of Hits Africa Ltd. will hold their annual meeting
on Aug. 27, 2015, at 8:00 a.m.

The company's liquidator is:

          Keiran Hutchison
          c/o Steve Bull
          Ernst & Young Ltd.
          62 Forum Lane, Camana Bay
          P.O. Box 510 Grand Cayman KY1-1106
          Cayman Islands
          Telephone: (345) 814 9060
          Facsimile: (345) 949 8529


SELECTINVEST ALTERNATIVE: Creditors' Proofs of Debt Due Aug. 19
---------------------------------------------------------------
The creditors of Selectinvest Alternative Balanced Fund Ltd. are
required to file their proofs of debt by Aug. 19, 2015, to be
included in the company's dividend distribution.

The company commenced liquidation proceedings on June 29, 2015.

The company's liquidator is:

          Stuart Sybersma
          c/o Robbie Cribb
          Deloitte & Touche
          Citrus Grove Building, 4th Floor
          Goring Avenue George Town KY1-1109
          Cayman Islands
          Telephone: +1 (345) 814 2254
          Facsimile: +1 (345) 949 8258


SELECTINVEST ARV MC: Creditors' Proofs of Debt Due Aug. 19
----------------------------------------------------------
The creditors of Selectinvest ARV MC Ltd. are required to file
their proofs of debt by Aug. 19, 2015, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on June 30, 2015.

The company's liquidator is:

          Stuart Sybersma
          c/o Robbie Cribb
          Deloitte & Touche
          Citrus Grove Building, 4th Floor
          Goring Avenue
          George Town KY1-1109
          Cayman Islands
          Telephone: +1 (345) 814 2254
          Facsimile: +1 (345) 949 8258


SELECTINVEST ARV 1.25X: Creditors' Proofs of Debt Due Aug. 19
-------------------------------------------------------------
The creditors of Selectinvest ARV Plus 1.25X Ltd. are required to
file their proofs of debt by Aug. 19, 2015, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on June 24, 2015.

The company's liquidator is:

          Stuart Sybersma
          c/o Robbie Cribb
          Deloitte & Touche
          Citrus Grove Building, 4th Floor
          Goring Avenue George Town KY1-1109
          Cayman Islands
          Telephone: +1 (345) 814 2254
          Facsimile: +1 (345) 949 8258


SELECTINVEST ARV 2.00X: Creditors' Proofs of Debt Due Aug. 19
-------------------------------------------------------------
The creditors of Selectinvest ARV Plus 2.00X Ltd. are required to
file their proofs of debt by Aug. 19, 2015, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on June 25, 2015.

The company's liquidator is:

          Stuart Sybersma
          c/o Robbie Cribb
          Deloitte & Touche
          Citrus Grove Building, 4th Floor
          Goring Avenue George Town KY1-1109
          Cayman Islands
          Telephone: +1 (345) 814 2254
          Facsimile: +1 (345) 949 8258


SELECTINVEST EVENT: Creditors' Proofs of Debt Due Aug. 19
---------------------------------------------------------
The creditors of Selectinvest Event Driven Fund Ltd. are required
to file their proofs of debt by Aug. 19, 2015, to be included in
the company's dividend distribution.

The company commenced liquidation proceedings on June 24, 2015.

The company's liquidator is:

          Stuart Sybersma
          c/o Robbie Cribb
          Deloitte & Touche
          Citrus Grove Building, 4th Floor
          Goring Avenue George Town KY1-1109
          Cayman Islands
          Telephone: +1 (345) 814 2254
          Facsimile: +1 (345) 949 8258


SELECTINVEST INSTITUTIONAL: Creditors' Proofs of Debt Due Aug. 19
-----------------------------------------------------------------
The creditors of Selectinvest Institutional Multistrategy Ltd. are
required to file their proofs of debt by Aug. 19, 2015, to be
included in the company's dividend distribution.

The company commenced liquidation proceedings on June 25, 2015.

The company's liquidator is:

          Stuart Sybersma
          c/o Robbie Cribb
          Deloitte & Touche
          Citrus Grove Building, 4th Floor
          Goring Avenue George Town KY1-1109
          Cayman Islands
          Telephone: +1 (345) 814 2254
          Facsimile: +1 (345) 949 8258


SELECTINVEST MULTISTRATEGY: Creditors' Proofs of Debt Due Aug. 19
-----------------------------------------------------------------
The creditors of Selectinvest Multistrategy Advantage Ltd. are
required to file their proofs of debt by Aug. 19, 2015, to be
included in the company's dividend distribution.

The company commenced liquidation proceedings on June 24, 2015.

The company's liquidator is:

          Stuart Sybersma
          c/o Robbie Cribb
          Deloitte & Touche
          Citrus Grove Building, 4th Floor
          Goring Avenue George Town KY1-1109
          Cayman Islands
          Telephone: +1 (345) 814 2254
          Facsimile: +1 (345) 949 8258


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


DOMINICAN REP: Coraasan Starts Rationing Water as Dam Dries Up
--------------------------------------------------------------
Dominican Today reports that Santiago Water Utility (Coraasan)
director Silvio Duran said water to the population will be zoned
because of the low level at the Tavera-Bao dam complex, resulting
from the nationwide drought.

Mr. Duran said the dams' level dropped from 313 meters above sea
level to a critical point at 311 meters, according to Dominican
Today.

The report notes that Mr. Duran said the Central Mountains didn't
get much of the latest showers as some parts of the country for
which Tavera-Bao has dropped to a drastic level.

Coraasan Operations Manager Hector Jaquez said the dams' average
capacity is 320 meters above the level, adding that the situation
has forced the rationing of potable water from Tavera-Bao after
production fell 25%, the report relates.


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


JAMAICA: Hughes Pushes for More Business With Venezuela
--------------------------------------------------------
RJR News reports that private businesses in Jamaica are again
being encouraged to export goods to Venezuela under the terms of
the PetroCaribe Agreement.

According to Dr. Wesley Hughes, Chief Executive Officer of the
PetroCaribe Fund, not many local companies have been making use of
the opportunity to export goods to Venezuela as a means to reduce
the debt owed under the agreement, RJR News notes.

Dr. Hughes told RJR News, however, that new trading opportunities
are still being explored.

Dr. Hughes said, while the trade in goods between the two
countries "has not moved as rapidly as we would have liked," some
companies have expressed an intention to discuss trade in a range
of commodities, which are of interest to Venezuela, including
pharmaceuticals, fertilizer, animal feeds, "but we haven't yet
completed anything concrete, the report says.

Meanwhile, the second shipment of clinker from Carib Cement to
Venezuela will be delivered before the end of the year, the report
discloses.

Carib Cement was the first company to take advantage of the trade
agreement with a shipment being made in 2013, valued at US$8.5
million.  The second shipment order was for 240,000 tons, valued
at US$20.6 million, the report relays.

"We've completed the first (order) and we are in the middle of
implementation of the second," Dr. Hughes reported, RJR News adds.

As reported in Troubled Company Reporter-Latin America on
July 29, 2015, Standard & Poor's Ratings Services assigned its 'B'
issue rating on Jamaica's up to US$2 billion in bonds issued in
two tranches.  The first tranche is for up to US$1,350 million due
in 2028.  The second tranche is for up to US$650 million due in
2045.  The government will use the proceeds to purchase debt that
Jamaica owes to Venezuela as well as to finance the government's
2015/2016 budget.


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


FRONTIER STAR: Proposes to Employ Cavanagh Law Firm as Attorneys
----------------------------------------------------------------
Frontier Star, LLC, and Frontier Star CJ LLC seek authority from
the U.S. Bankruptcy Court for the District of Arizona to employ
The Cavanagh Law Firm as attorneys.

Cavanagh will be required to render, among others, these services:

   (a) Advise the Debtor with respect to its powers and duties as
       debtor-in-possession in the continued management and
       operation of its business;

   (b) Attend meetings and negotiate with representatives of
       creditors and other parties-in-interest and advise and
       consult on the conduct of the cases, including all of the
       legal and administrative requirements of operating in
       Chapter 11;

   (c) Take all necessary action to protect and preserve Star's
       estate, including the prosecution of actions on their
       behalf, the defense of any actions commenced against them,
       negotiations concerning all litigation in which the Debtors
       are involved and objections to claims filed against the
       estates;

   (d) Prepare on behalf of Star all motions, applications,
       answers, orders, reports and papers necessary for the
       administration of its estate;

   (e) Negotiate and prepare on Star's behalf a plan of
       reorganization, disclosure statement and all related
       agreements and/or documents and take any necessary action
       on behalf of Star to obtain confirmation of that plan;

   (f) Advise Star in connection with the sale of assets;

   (g) Appear before the Court and the U.S. Trustee to protect the
       interests of Star's estate before the courts and the U.S.
       Trustee; and

   (h) Perform all other necessary legal services and provide all
       other necessary legal advice to Star in connection with the
       Chapter 11 case.

The hourly rates for Cavanagh professionals and para-professionals
are $110 for legal assistants and $295 to $425 for attorney
members.  The firm will also be reimbursed for any necessary
out-of-pocket expenses.

Philip G. Mitchell, Esq., at The Cavanagh Law Firm, P.A., in
Phoenix, Arizona, assures the Court that members of his firm do
not have any connection with Star or its affiliates, creditors, or
any other party-in-interest, or its attorneys and accountants and
are "disinterested persons" as that term is defined by Section
101(14) of the Bankruptcy Code, and do not hold or represent any
interest adverse to the estate.

Guadalupe, Arizona-based Frontier Star LLC and Frontier Star CJ
LLC are owned by three grandchildren of Carl Karcher, who founded
the fast-food chain.  The grandchildren include the LeVecke
siblings Carl, Margaret and Jason, who is listed as chief
executive officer/manager of both companies.  The LeVecke siblings
had more than 130 Carl's Jr. and Hardee's franchises in seven
states and Puerto Vallarta, Mexico, as of late 2013, according to
an Arizona Republic article that announced the grand opening of a
new sports-themed Carl's Jr. restaurant in Glendale.


FRONTIER STAR: Seeks Joint Administration of Ch. 11 Cases
---------------------------------------------------------
Frontier Star, LLC, asks the U.S. Bankruptcy Court for the
District of Arizona to issue an order for joint administration of
the bankruptcy cases of Frontier Star, LLC, and Frontier Star CJ,
LLC, under Lead Case No. 2:15-bk-09383.

According to Philip G. Mitchell, Esq., at The Cavanagh Law Firm,
P.A., in Phoenix, Arizona, both the Debtors share the identical
sole member and management, therefore, the Chapter 11 plan of
reorganization will be almost identical for each Debtor.
Moreover, joint administration will ease the procedural burden on
the Court and the parties.

Guadalupe, Arizona-based Frontier Star LLC and Frontier Star CJ
LLC are owned by three grandchildren of Carl Karcher, who founded
the fast-food chain.  The grandchildren include the LeVecke
siblings Carl, Margaret and Jason, who is listed as chief
executive officer/manager of both companies.  The LeVecke siblings
had more than 130 Carl's Jr. and Hardee's franchises in seven
states and Puerto Vallarta, Mexico, as of late 2013, according to
an Arizona Republic article that announced the grand opening of a
new sports-themed Carl's Jr. restaurant in Glendale.


MEXICO: Remittances to Rise Nearly 4% in First 6 Months of 2015
---------------------------------------------------------------
EFE News reports that remittances sent to Mexico by emigrants
totaled $12.08 billion in the first six months of 2015, up 3.98
percent compared to the same period last year, when they came in
at $11.62 billion, the Bank of Mexico said.

The average remittance was $294 in the January-June period,
unchanged from the average registered in the same period last
year, the central bank said in a statement obtained by EFE News.

The report notes that the number of transactions reached 41.05
million in the first six months of 2015, up 3.99 percent from the
same period last year, with the majority of remittances sent via
electronic funds transfers.

Mexico received $23.64 billion in remittances in 2014, a figure
that was up 9.6 percent compared to 2013, when emigrants sent
$21.89 billion to their homeland, the report relays.

Remittances sent by Mexicans living abroad, mainly in the United
States, are the country's second-largest source of foreign
exchange, after oil, and help cover the living expenses of
millions of people, the report adds.


=====================
P U E R T O   R I C O
=====================


CIDRA METALLIC: Case Summary & 4 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Cidra Metallic Casket, Inc.
        PO Box 177
        172 Road Km 7.9
        Bo. Certeneja
        Cidra, PR 00739

Case No.: 15-05930

Chapter 11 Petition Date: August 3, 2015

Court: United States Bankruptcy Court
       District of Puerto Rico (Old San Juan)

Judge: Hon. Mildred Caban Flores

Debtor's Counsel: Fausto David Godreau Zayas, Esq.
                  PO BOX 9022512
                  San Juan, PR 00902-2512
                  Tel: 787-724-0230
                  Email: dgodreau@LBRGlaw.com

Total Assets: $835,415

Total Liabilities: $1.7 million

The petition was signed by Edwin Cotto Rodriguez, president.

A list of the Debtor's four largest unsecured creditors is
available for free at http://bankrupt.com/misc/prb15-05930.pdf


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


CL FIN'L: Don't Appeal Judgment on Bailout Info, CRF Says
---------------------------------------------------------
Trinidad Express reports that the Constitution Reform Forum (CRF)
has called on Finance Minister Larry Howai to refrain from
embarking on an "unnecessary drain on the Treasury" by appealing
the decision of a High Court judge, who ordered that the Minister
fulfil a request by president of the Joint Consultative Council
(JCC) Afra Raymond for financial details relating to the bailout
of CL Financial Limited.

The CRF issued a release stating that if the decision is appealed,
not only will it be a waste of finance but such a course of action
will also demonstrate a "lack of commitment by the Government to
the spirit and intent of the Freedom of Information Act FOIA",
under which the request was made, according to Trinidad Express.

"That tendency to want to keep the details of the collapse and
subsequent government bailout of CL Financial away from the public
eye was very much in evidence in the Minister's original
insistence to find grounds, however weak, for exemption from
disclosure of information," the CRF argued, the report notes.

In May 2012, Raymond made the request under section 13(1) of the
Act, but it was refused by the Minister, the report relates.
Based on the refusal, Raymond subsequently filed for judicial
review in April 2013, the report discloses.

Justice Ronnie Boodoosingh handed down the 21-page judgment at the
Hall of Justice in Port of Spain on July 22.

The report notes that the CRF release, which was signed by its
chair Olabisi Kuboni, stated: "The significance of this judgment
should not be underestimated.  By objecting to the Minister's
refusal to accede to Mr. Raymond's request, Justice Boodoodsingh
was sending a clear message that public officials must recognize
the public's right to information about the functioning of public
authorities."

"Citing comments made by Justice Jamadar in a similar matter in
2008, Justice Boodoosingh emphasized that the FOIA provides for a
statutory right to information held by public authorities, and
(that) its effect is to broaden and deepen the democratic values
of accountability and transparency," Mr. Kuboni added.

                About CLICO International

Colonial Life Insurance Company Ltd. (CLICO) is a member of the CL
Financial Group.  CL Financial Limited is a privately held
conglomerate in Trinidad and Tobago.  Founded as an insurance
company by Cyril Duprey, Colonial Life Insurance Company was
expanded into a diversified company by his nephew, Lawrence
Duprey.  CL Financial is now one of the largest local
conglomerates in the region, encompassing over 65 companies in 32
countries worldwide with total assets standing at roughly US$100
billion.

                           *     *     *

As reported in the Troubled Company Reporter-Latin America on July
7, 2014, Trinidad Express said that the Central Bank has placed
the responsibility of voluntary separation package (VSEP)
negotiations for workers at insurance giant Colonial Life
Insurance Company Ltd. (CLICO) with the company's board, after
which it will review accordingly, the bank said in a statement.
The bank's statement follows protest action by CLICO workers,
supported by their union, the Banking, Insurance and General
Workers' Union (BIGWU), outside the Central Bank in Port of Spain,
according to Trinidad Express.

In a separate TCRLA report on June 26, 2014, Caribbean360.com said
that the Trinidad and Tobago government has welcomed an Appeal
Court ruling that the Attorney General Anand Ramlogan said saves
the country from paying out more than TT$1 billion (TT$1 = US$0.16
cents) to policyholders of the cash-strapped CLICO.  The Appeal
Court overturned the ruling of a High Court that ruled members of
the United Policyholders Group (UPG) were entitled to be paid the
full sums of their polices. CLICO financially caved in on itself
at the end of 2008 after the investment instruments of major
policyholders matured and they wanted hundreds of millions of
dollars they were owed.

On Aug. 6, 2013, the TCR-LA, citing Caribbean360.com, said that
over TT$8 billion worth of CLICO's profitable business will be
transferred to Atruis, a new company that will be owned by the
state.  The Trinidad Express said that the Cabinet approved the
transfer as the Finance and General Purposes Committee continues
to discuss a letter of intent hammered out by the Ministry of
Finance and CL Financial's 400 shareholders, which envisions
taxpayers will recover the more than TT$20 billion Government has
injected since 2009 to keep CL subsidiary CLICO and other
companies afloat.

At its annual general meeting in Sept. 2013, CL Financial
shareholders voted to extend the agreement with Government until
August 25, 2014, while Cabinet decides on a new framework accord
to recover the debt owed to Government through divestment of CL
subsidiaries, including Methanol Holdings, Republic Bank,
Angostura Holdings, CL World Brands and Home Construction Ltd.,
Caribbean360.com related.  Proceeds from the divestment of these
assets will go toward Government's recovery of the billions it
pumped into CLICO.


                            ***********


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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