TCRLA_Public/150807.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

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

            Friday, August 7, 2015, Vol. 16, No. 155


                            Headlines



A N T I G U A  &  B A R B U D A

LIAT: Aircraft Relocated to Barbados


A R G E N T I N A

TELECOM ARGENTINA: Posts ARS1,978MM Income for 6Mo Ended June 30


B A H A M A S

BAHA MAR: Gets Ok to Appeal Decision on Bankruptcy Proceedings
ULTRAPETROL (BAHAMAS): To Release 2Q Financial Results on Aug.12


B O L I V I A

BNB LEASING: Moody's Assigns Ba3 Global Scale Rating


B R A Z I L

PARANAPANEMA SA: S&P Affirms 'B+' Global Scale Rating
PETROLEO BRASILEIRO: Selling Argentine Unit Stake, Governor Says


C A Y M A N  I S L A N D S

BJB CAREER: Appoints Walker & Jong as Provisional Liquidators
JUVE LIMITED: Creditors' Proofs of Debt Due Aug. 14
LEADGATE INVESTMENTS: Creditors' Proofs of Debt Due Aug. 14
PENNANT CREDIT: Placed Under Voluntary Wind-Up
PLATINUM NAVIGATOR: Placed Under Voluntary Wind-Up

SELECTINVEST ARV MC: Creditors' Proofs of Debt Due Aug. 19
SELECTINVEST ARV SPV: Creditors' Proofs of Debt Due Aug. 19
SSC 400 CAPITAL: Placed Under Voluntary Wind-Up
STARFISH ACQUISITION: Creditors' Proofs of Debt Due Aug. 11
STARFISH ACQUISITION CO.: Creditors' Proofs of Debt Due Aug. 11


C H I L E

CORPBANCA BANKING: Moody's Reviews ba1 BCA for Upgrade


P E R U

MAESTRO PERU: Moody's Hikes Corporate Family Rating to Ba2


P U E R T O    R I C O

DJSP ENTERPRISES: Declares Distribution of $0.70 Per Share
TRUMP ENTERTAINMENT: Watchdog Challenges Sale of Golf Club


S T.  K I T T S  &  N E V I S

BANK OF COMMERCE: Depositors to Recover Losses 30Ys After Collapse


                            - - - - -

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

LIAT: Aircraft Relocated to Barbados
---------------------------------------
The Daily Observer reports that Chief Executive Officer David
Evans has confirmed that one LIAT aircraft has been relocated to
Barbados as the airline moves ahead with its strategic plan.

Prime Minister Gaston Browne, earlier this year, objected to a
plan to re-base two LIAT aircraft from Antigua to Barbados,
according to The Daily Observer.

But Mr. Evans said one did move on July 15, the report notes.

"We have one aircraft that has move to Barbados at the moment,
yes," Mr. Evans told Observer, while explaining that the move is
nothing more than a decision based on what makes sense for the
business.

"You know, markets change; demand changes; airlines move aircraft
all the time.  They move them to where the most demand is. It's
entirely possible (that) we may be moving the aircraft back into
Antigua when demand increases from Antigua," the report quoted Mr.
Evans as saying.

Meanwhile, Mr. Evans confirmed that people have begun accepting
voluntary separation from the company but would not disclose how
many have taken the option, the report relays.

"We're still in the process of going through that.  You'll
understand that I'm not (going to) disclose numbers, but yes, that
process is underway," Mr. Evans replied when asked for an update,
the report adds.

                            About LIAT

LIAT, operating as Leeward Islands Air Transport, is an airline
headquartered on the grounds of V. C. Bird International Airport
in Antigua.  It operates high-frequency inter-island scheduled
services serving 21 destinations in the Caribbean.  The airline's
main base is VC Bird International Airport, Antigua and Barbuda,
with bases at Grantley Adams International Airport, Barbados and
Piarco International Airport, Trinidad and Tobago.

                         *     *     *

As reported in the Troubled Company Reporter-Latin America on May
8, 2015, the Daily Observer reports that LIAT, operating as
Leeward Islands Air Transport, is attempting to lose excess
baggage as part of measures to make the carrier "a smaller airline
in 2015."  In a document, signed by Director of Human Resources
Ilean Ramsey, eligible employees were asked to opt to apply for
voluntary separation or early retirement packages to avoid being
made redundant, according to The Daily Observer.

TCRLA reported on Dec. 2, 2014, Caribbean360.com said that
chairman of the shareholder governments of the financially
troubled regional airline LIAT, Dr. Ralph Gonsalves said while he
is unaware of the details regarding any possible retrenchment of
employees, the airline needs to deal with its high cost of
operations.

The TCR-LA on March 10, 2014, citing Caribbean360.com, reported
that LIAT said it will take "decisive action" to deal with
unprofitable routes as the Antigua-based airline seeks to make its
operations financially viable.

On Sept. 23, 2013, the TCRLA, citing Trinidad and Tobago Newsday,
reported that there's much upheaval at the highest levels of LIAT
-- the Board and the Executive. Following the sudden resignation
of Chief Executive Officer Captain Ian Brunton, David Evans
replaced Mr. Brunton as chief executive officer


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


TELECOM ARGENTINA: Posts ARS1,978MM Income for 6Mo Ended June 30
----------------------------------------------------------------
Telecom Argentina S.A. announces consolidated six month period and
second quarter results for fiscal year 2015.

Telecom Argentina posted a net income of ARS1,978 million for the
six month period ended June 30, 2015, or +7.7% when compared to
the same period last year.  Net income attributable to Telecom
Argentina amounted to ARS 1,956 million (+8.4% vs. 1H14).

During 1H15 Consolidated Revenues increased by 18.7% to ARS18,496
million (+ARS2,911 million vs. 1H14), mainly fueled by the
Broadband businesses, Fixed Data and Mobile Services.  Moreover,
Operating Income reached ARS3,148 million (+ARS530 million or
+20.2% vs. 1H14).

A full text copy of the company's financial report is available
free at:

                       http://is.gd/Fth6pQ

Headquartered in Buenos Aires, Telecom Argentina S.A. --
http://www.telecom.com.ar/index-flash.html-- provides telephone-
related services, such as international long-distance service and
data transmission and Internet services, and through its
subsidiaries, wireless telecommunications services, international
wholesale services and telephone directory publishing.

As reported by the Troubled Company Reporter-Latin America on
May 16, 2014, Moody's Latin America Calificadora de Riesgo has
assigned a first time Corporate Family Rating of Caa1 on its
Global Scale and Ba1.ar on its Argentina National Scale to Telecom
Argentina S.A. (Telecom). The outlook is stable.


=============
B A H A M A S
=============


BAHA MAR: Gets Ok to Appeal Decision on Bankruptcy Proceedings
--------------------------------------------------------------
Caribbean360.com reports that the developer of stalled US$3.5
billion mega resort Baha Mar has been given the green light to
challenge a High Court judge's decision not to recognize the
company's bankruptcy proceedings in the US.

Justice Ian Winder granted the company leave to appeal the ruling
he handed down on July 22.

Justice Ian Winder ruled in Baha Mar's favor in the application
for leave to appeal, despite objections from the lawyers
representing the Bahamas government, the Export Import Bank of
China which is financing the project, and general contractor China
Construction, according to Caribbean360.com.

In a brief statement, Baha Mar said it was "gratified" by the
court's decision.

The report notes that the mega resort was originally scheduled to
open last December but that deadline was missed, as was a March
deadline, leaving the jobs of 5,000 Bahamians in limbo.

The company run by Swiss developer Sarkis Izmiralian filed for
Chapter 11 Bankruptcy protection in the US state of Delaware on
June 29, claiming US$2.7 billion in debt -- including US$2.4
billion owed to state-owned Export-Import Bank of China -- and
arguing that the general contractor had repeatedly missed
deadlines which left the company without a sufficient source of
revenue to continue its existing business, the report relates.

The report says that the company then went to the Supreme Court in
the Bahamas, asking that those proceedings be recognized in the
island, but that was rejected by Justice Winder, preventing the
project from receiving protection available under the US
bankruptcy code.

Baha Mar has argued that due to the financial consequences of the
repeated delays by the general contractor, and the resulting loss
of revenue, the Chapter 11 process is "the best path to provide
the time to put in place a viable capital structure and working
relationships to complete construction and successfully open [the
resort]," the report notes.

"We are committed to doing all we realistically can to move Baha
Mar forward to be completed and opened successfully.  We are
confident that once opened, Baha Mar will be a world-class
destination resort that will attract guests from around the world
and serve as a key economic sparkplug in The Bahamas," the company
posted on www.bmpathforward.com, a website dedicated to providing
information about its current situation, the report relays.

Baha Mar and the government have been involved in a public war of
words, with chief executive officer Izmiralian being critical of
Prime Minister Perry Christie's leadership and Immigration
Minister Fred Mitchell recently warning the billionaire that he
could lose his permanent residency status, the report discloses.

"Let the word be clear -- let him cease and desist.  It is the
wiser course of action and the old Bahamian proverb says 'If you
don't hear, you will feel'," Mr. Mitchell said at an Emancipation
Day service, the report notes.

"The Immigration Act reminds us . . . that the permission to live
in The Bahamas can be revoked where an individual has so conducted
himself that, in the opinion of the board, it is not in the public
interest that he should continue to enjoy privileges inferred by
the certificate," Mr. Mitchell added.

The report adds that the minister said no one, no matter how much
money they had, could buy influence in the country or "speak to
our leaders in any which way or fashion".

                       About Baha Mar

Orlando, Florida-based Northshore Mainland Services Inc., Baha Mar
Enterprises Ltd., and their affiliates sought protection under
Chapter 11 of the Bankruptcy Code on June 29, 2015 (Bankr. D.Del.,
Case No. 15-11402).  Baha Mar owns, and is in the final stages of
developing, a 3.3 million square foot resort complex located in
Cable Beach, Nassau, The Bahamas.

The case is assigned to Judge Kevin J. Carey.

The Debtors are represented by Paul S. Aronzon, Esq., and Mark
Shinderman, Esq., at Milbank, Tweed, Hadley & McCloy LLP, in Los
Angeles, California; and Gerard Uzzi, Esq., Thomas J. Matz, Esq.,
and Steven Z. Szanzer, Esq., at Milbank, Tweed, Hadley & McCloy
LLP, in New York.  The Debtors' Delaware counselare Laura Davis
Jones, Esq., James E. O'Neill, Esq., Colin R. Robinson, Esq., and
Peter J. Keane, Esq., at Pachulski Stang Ziehl & Jones LLP, in
Wilmington, Delaware.  The Debtors' Bahamian counsel is Glinton
Sweeting O'Brien.  The Debtors' special litigation counsel is
Kobre & Kim LLP.  The Debtors' construction counsel is Glaser Weil
Fink Howard Avchen & Shapiro LLP.

The Debtors' investment banker and financial advisor is Moelis
Company LLC.  The Debtors' claims and noticing agent is Prime
Clerk LLC.


ULTRAPETROL (BAHAMAS): To Release 2Q Financial Results on Aug.12
----------------------------------------------------------------
Ultrapetrol (Bahamas) Limited, an industrial transportation
company serving marine transportation needs in three markets
(River Business, Offshore Supply Business, and Ocean Business),
will release its second quarter 2015 financial results on
Wednesday, August 12, 2015, after the market closes.

Ultrapetrol will also host a related conference call on Thursday,
August 13, 2015 at 10:00 a.m. Eastern Time, accessible via
telephone and Internet with an accompanying slide presentation.

As reported in the Troubled Company Reporter-Latin America on
May 12, 2015, Standard & Poor's Ratings Services revised its
outlook on Ultrapetrol (Bahamas) Ltd. to negative from stable.
S&P also affirmed its ratings, including the 'B' corporate credit
and issue-level ratings.


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


BNB LEASING: Moody's Assigns Ba3 Global Scale Rating
----------------------------------------------------
Moody's Latin America Agente de Calificacion de Riesgo (Moody's)
assigned a Ba3 global scale rating and a Aaa.bo national scale
rating to BNB Leasing S.A.'s first expected issuance of BO60
million under its second senior debt program of up to US$20
million (Programa de Emision de Bonos BNB Leasing II). The outlook
for all ratings is stable.

The following ratings were assigned to BNB Leasing S.A.:

$20 million senior debt program:

Global Local-Currency Debt Rating: (P)Ba3

Global Foreign-Currency Debt Rating: (P)Ba3

Bolivian National Scale Local-Currency Debt Rating: Aaa.bo

Bolivian National Scale Foreign-Currency Debt Rating: Aaa.bo

Expected issuance of BO30 million - Class A - Tenor: 1,440 days -
Interest Rate: 4.25%:

Global Local-Currency Debt Rating: Ba3

Bolivian National Scale Local-Currency Debt Rating: Aaa.bo

Expected issuance of BO30 million - Class B - Tenor: 1,800 days -
Interest Rate: 4.75%:

Global Local-Currency Debt Rating: Ba3

Bolivian National Scale Local-Currency Debt Rating: Aaa.bo

RATINGS RATIONALE

BNB Leasing's debt ratings derive from its b3 standalone credit
assessment and incorporates three notches of uplift due to Moody's
assessment of a very high probability of support from the
company's parent, Banco Nacional de Bolivia S.A. (local currency
bank deposits rated Ba3) given BNB Leasing's strategic importance
to the bank. Banco Nacional de Bolivia is the country's second
largest bank in terms of assets.

BNB Leasing's stand-alone credit assessment reflects its limited
income diversification as a result of its narrow focus on leasing
and leaseback of real state, machinery and equipment, its low
liquidity ratios, and its heavy reliance on market funding,
including both bonds issuances and interbank deposits, which
exposes it to refinancing and interest rate risk. This risks are
partly offset by the company's well-established franchise in the
developing leasing industry in Bolivia, which has allowed it to
increase its market share and improve profitability metrics. The
ratings also consider the company's healthy asset quality and
capitalization metrics.

After taking into consideration parental support, BNB Leasing's
Ba3 global scale and Aaa.bo national scale debt ratings make it
one of the strongest credits in Bolivia.

Headquartered in La Paz, Bolivia, BNB Leasing is the second
leasing company in the country, with assets of BO163 million and
shareholders' equity of BO27 million as of June 30, 2015.


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


PARANAPANEMA SA: S&P Affirms 'B+' Global Scale Rating
-----------------------------------------------------
Standard & Poor's Ratings Services lowered its national scale
rating on Paranapanema S.A. to 'brBBB' from 'brBBB+'.  The outlook
on this rating is stable.  S&P also revised the global scale
rating outlook to stable from positive and affirmed this rating at
'B+'.

The stable outlook on both ratings reflects the potentially lower
cash generation due to the weakening prices for Paranapanema's
products and its operational disruptions, limiting the company's
ability to reduce debt.  Also, S&P sees an increasing risk of
Paranapanema breaching its financial covenants by the end of 2015
due to impact of hedge accounting.  Although the possible breach
isn't substantial at this point, it may require Paranapanema to
ask for a waiver or to prepay a portion of the debt.

The second-quarter operating performance weakened due to
maintenance stoppages and lower price premiums for refined copper
both in domestic and international markets amid lower demand for
copper products in Brazil and stronger competition abroad.  In
addition, poor working capital management in the second quarter
pushed up the company's debt.  The offsetting factors are the
strong cash position, which prevents net debt metrics from
weakening, and S&P's expectation that working capital needs will
drop in the second half of the year.  Credit metrics were weaker
in the second quarter of 2015 because the hedge accounting
standards resulted in lower EBITDA.  As such, S&P tends to focus
more on cash flow metrics rather than the debt-to-EBITDA ratio.


PETROLEO BRASILEIRO: Selling Argentine Unit Stake, Governor Says
----------------------------------------------------------------
Pablo Rosendo Gonzalez at Bloomberg News reports that Petroleo
Brasileiro SA (Petrobras) is selling its controlling stake in an
Argentine unit, Neuquen Province Governor Jorge Sapag said.

YPF SA, Pan American Energy LLC, Pluspetrol SA and Tecpetrol SA
are among the companies planning to jointly buy about 70 percent
of Petrobras Argentina SA owned by the Rio de Janeiro-based
parent, Mr. Sapag said, according to Bloomberg News.

The report relays that Petrobras Argentina's most lucrative oil
and natural gas assets are located in Neuquen province, home to
the Vaca Muerta formation, the world's second-largest shale-gas
deposit.

"I was very surprised when they announced the sale to me," Mr.
Sapag told Bloomberg in an interview at his home in Neuquen, the
Argentina province's capital.  "I only hope the group has the
financial strength to fulfill all the investment commitment
Petrobras Argentina has with my province and with Argentina," Mr.
Sapag added.

Bloomberg News relates that Petrobras is cutting spending and
selling assets after crude prices tumbled and Brazil's biggest
corruption scandal led to a management reshuffle.  The producer
plans to raise $15.1 billion from the sales this year and next.
Selling the whole stake to a group rather than separate assets to
different buyers will speed up the deal and allow the unit to
continue operating as a single company, Mr. Sapag said, Bloomberg
News discloses.

Petrobras Argentina, which the parent has failed to sell in three
prior attempts, owns filling stations, a refinery, stakes in
electricity companies and drilling rights for several oil and gas
fields, among other assets, Bloomberg News says.

                         Regulatory Hurdles

YPF SA, Argentina's state-owned oil company, could face antitrust
restrictions if it sought to buy the refinery and gasoline
stations by itself, Bloomberg News notes.  Teaming up will allow
the buyers to avoid several regulatory approvals in different
jurisdictions, Mr. Sapag said, Bloomberg News relays.

A few small Argentine companies and a foreign company may join the
group of buyers, Mr. Sapag said, declining to name them, Bloomberg
News 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
==========================


BJB CAREER: Appoints Walker & Jong as Provisional Liquidators
-------------------------------------------------------------
On July 3, 2015, the Grand Court of Cayman Islands appointed David
A.K. Walker and Yat Kit Jong as provisional liquidators of BJB
Career Education Company Limited.

The Liquidators can be reached at:

          David A.K. Walker
          PwC Corporate Finance & Recovery (Cayman) Limited
          P.O. Box 258 Grand Cayman KY1-1104
          Strathvale House
          Cayman Islands; and

          Yat Kit Jong
          PricewaterhouseCoopers Centre
          202 Hubin Road
          Shanghai
          People's Republic of China 200021


JUVE LIMITED: Creditors' Proofs of Debt Due Aug. 14
---------------------------------------------------
The creditors of Juve Limited are required to file their proofs of
debt by Aug. 14, 2015, to be included in the company's dividend
distribution.

The company commenced liquidation proceedings on June 26, 2015.

The company's liquidator is:

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


LEADGATE INVESTMENTS: Creditors' Proofs of Debt Due Aug. 14
-----------------------------------------------------------
The creditors of Leadgate Investments Limited are required to file
their proofs of debt by Aug. 14, 2015, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on June 29, 2015.

The company's liquidator is:

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


PENNANT CREDIT: Placed Under Voluntary Wind-Up
----------------------------------------------
On June 30, 2015, the sole shareholder of Pennant Credit
Opportunities Offshore Fund, Ltd. resolved to voluntarily wind up
the company's operations.

Creditors are required to file their proofs of debt to be included
in the company's dividend distribution.

The company's liquidator is:

          Pennant Capital Management, L.L.C.
          c/o Jonathan Turnham
          Telephone: +1 (345) 949 9876
          Facsimile: +1 (345) 949-9877
          Ogier
          89 Nexus Way Camana Bay
          Grand Cayman KY1-9007
          Cayman Islands


PLATINUM NAVIGATOR: Placed Under Voluntary Wind-Up
--------------------------------------------------
On July 10, 2015, the sole shareholder of Platinum Navigator Fund
Limited 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:

          Platinum Trading Management Ltd.
          c/o Piers Dryden
          Telephone: +1 (345) 949 9876
          Facsimile: +1 (345) 949-9877
          Ogier
          89 Nexus Way
          Camana Bay
          Grand Cayman KY1-9007
          Cayman Islands


SELECTINVEST ARV MC: Creditors' Proofs of Debt Due Aug. 19
----------------------------------------------------------
The creditors of Selectinvest ARV II 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 SPV: Creditors' Proofs of Debt Due Aug. 19
-----------------------------------------------------------
The creditors of Selectinvest ARV II SPV 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


SSC 400 CAPITAL: Placed Under Voluntary Wind-Up
-----------------------------------------------
On July 10, 2015, the sole shareholder of SSC 400 Capital Fund
Ltd. resolved to voluntarily wind up the company's operations.

Creditors are required to file their proofs of debt to be included
in the company's dividend distribution.

The company's liquidator is:

          400 Capital Management LLC
          c/o Jonathan Turnham
          Ogier
          89 Nexus Way Camana Bay
          Grand Cayman KY1-9007
          Cayman Islands
          Telephone: +1 (345) 949 9876
          Facsimile: +1 (345) 949-9877


STARFISH ACQUISITION: Creditors' Proofs of Debt Due Aug. 11
-----------------------------------------------------------
The creditors of Starfish Acquisition Limited are required to file
their proofs of debt by Aug. 11, 2015, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on July 10, 2015.

The company's liquidator is:

          Campbells Directors Limited
          Willow House, Floor 4
          Cricket Square
          PO Box 884 Grand Cayman KY1-1103
          Cayman Islands
          Telephone: +1 (345) 949 2648
          Facsimile: +1 (345) 949 8613


STARFISH ACQUISITION CO.: Creditors' Proofs of Debt Due Aug. 11
---------------------------------------------------------------
The creditors of Starfish Acquisition Company Limited are required
to file their proofs of debt by Aug. 11, 2015, to be included in
the company's dividend distribution.

The company commenced wind-up proceedings on July 10, 2015.

The company's liquidator is:

          Campbells Directors Limited
          Willow House, Floor 4
          Cricket Square
          PO Box 884 Grand Cayman KY1-1103
          Cayman Islands
          Telephone: +1 (345) 949 2648
          Facsimile: +1 (345) 949 8613


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


CORPBANCA BANKING: Moody's Reviews ba1 BCA for Upgrade
------------------------------------------------------
Moody's Investors Service said that the ratings of CorpBanca
(deposits and senior debt Baa3 review up, BCA ba1 review up) and
its holding company, CorpGroup Banking S.A. (issuer and senior
debt B1, review up) remain under review for possible upgrade
pending consummation of the bank's merger with Banco Itau Chile.
The review was initiated on January 31, 2014 following the
announcement on January 29, 2014 by which CorpBanca's controlling
shareholder, CorpGroup, agreed to merge the bank with Itau
Unibanco S.A.'s (deposits Baa2 negative, BCA baa2) Chilean
subsidiary, Banco Itau Chile (deposits A2 stable, BCA baa2) in a
stock-for-stock transaction to create Itau CorpBanca. The ratings
of CorpGroup Banking remain on review for possible upgrade as they
are anchored on CorpBanca's standalone assessment.

RATINGS RATIONALE

The merger was approved by CorpBanca's shareholders on 26 June
2015 and according to the Transaction Agreement amendment, is
currently on course for completion between January 2016 and May
2016, pending receipt of approval from Chile's Superintendency of
Banks (SBIF). Moody's said it expects to complete the review once
that regulatory approval has been received, clearing all remaining
hurdles to the successful consummation of the transaction. The
change in control that will result from this transacton has
already received approval from the Brazilian, Colombian, and
Panamanian banking regulators.

Moody's expects that the proposed merger of CorpBanca and Banco
Itau Chile and its association with Itau Unibanco will strengthen
the combined bank's market presence across multiple customer
segments in Chile's highly competitive banking market, and provide
it with greater economies of scale, thereby increasing its
earnings potential. Itau's experience in integrating acquisitions,
its successful presence and brand identity in Chile, and its
partnership and co-management with existing shareholders will
allow the combined bank to better leverage existing relationships
and take advantage of new opportunities for growth. CorpBanca's
relatively weak capitalization would also be somewhat supported
through the merger as the bank's new controlling shareholder, Itau
Unibanco Holding S.A. (issuer rating Baa3 negative), is committed
by the transaction agreement to inject an additional $552 million
of fresh capital into Banco Itau Chile before the merger.

The principal methodology used in these ratings/analysis was Banks
published in March 2015. Please see the Credit Policy page on
www.moodys.com for a copy of this methodology.

The last rating action on CorpBanca was on 9 September 2014 when
Moody's assigned the bank a Baa3 foreign currency senior unsecured
debt rating, on review for possible upgrade.

The last rating action on CorpGroup Banking was on 31 January 2014
when Moody's changed the rating review direction to possible
upgrade, from review for downgrade, on the entity's issuer and
senior unsecured debt ratings.

Based in Santiago de Chile, CorpBanca was the country's fifth
largest bank with about USD33 billion (CLP21 trillion) of
consolidated assets and USD2.4 billion in shareholders' equity as
of June 30, 2015. CorpGroup Banking reported total consolidated
assets of USD33.8 billion and total net equity of USD2.7 billion
as of December 31, 2014.


=======
P E R U
=======

MAESTRO PERU: Moody's Hikes Corporate Family Rating to Ba2
----------------------------------------------------------
Moody's Investors Service has upgraded Maestro Peru S.A.'s
corporate family rating and its USD 200 million senior unsecured
ratings to Ba2. The outlook is stable. These actions conclude the
review for upgrade initiated on May 04, 2015.

Ratings are:

Issuer: Maestro S.A.

-- Corporate Family Rating: Upgraded to Ba2 (Global Scale)

-- USD 200 million Senior Unsecured Notes due 2019: Upgraded to
    Ba2.

Outlook: Stable

RATINGS RATIONALE

Maestro's upgrade ultimately reflects the evidences of strong
integration with and financial support from Grupo Falabella
(unrated), as well as the perceived important role of Maestro in
the group's expansion strategy in Peru. The rating also considers
the solid business profile and credit strength of Grupo Falabella.
Moreover, the rating incorporates our views that, in addition to
financial support, the integration with Sodimac (unrated), its
former main competitor in the country, will lead to operating
improvements and an acceleration in Maestro's credit metrics
recovery.

Maestro was acquired by Sodimac Peru, a wholly-owned subsidiary of
Grupo Falabella, in September 2014. The sale gave the owner of 30
stores throughout Peru the financial backing of a far larger
entity, with USD 12.3 billion in revenues as of March 2015 and 439
department, home improvement and grocery stores across South
America.

Moody's will continue to assess the extent of Maestro's
integration into Grupo Falabella, and the benefits accruing from
such integration. These include various cost synergies, and also
revenue synergies through an extensive cost reduction process,
which together may benefit revenues and margins. Moody's will also
monitor the extent of possible financial integration of Maestro
with Grupo Falabella.

Maestro's Ba2 ratings are supported by Grupo Falabella's
sponsorship, as well as its leading position in the Peruvian home
improvement retail industry. On the other hand, the ratings are
constrained by very weak credit metrics for its rating category,
including a Moody's adjusted leverage at 12 times as of the last
of last twelve months ended March 2015.

The stable outlook is based on the expectation that Maestro will
continue to receive significant support from the Grupo Falabella,
while gradually improving its operating performance and credit
metrics.

Although unlikely in the near term, the ratings could be upgraded
depending upon the extension of Maestro's integration into Grupo
Falabella, and the benefits accruing from such integration. An
upgrade would also require a significant improvement in Maestro's
overall credit metrics.

The ratings could be downgraded in case the perception of support
coming from the Grupo Falabella decreases or if Maestro's credit
metrics or liquidity deteriorate further.

Headquartered in the city of Lima, Peru, Maestro is one of the
major home improvement retailers in Peru, with 30 stores spread
across the country. For the last twelve months ended March 2015,
Maestro reported revenues of SOL 1.5 billion (approximately USD
500 M).

Headquartered in Chile, the Grupo Falabella is one of the leading
retail companies in Latin America, with operations in Chile, Peru,
Colombia, Argentina, Brazil and Uruguay. Grupo Falabella is
organized in five business divisions: Department Stores, Home
Improvement, Supermarkets, Financial Services and Real Estate. The
Group has 439 stores, 38 shopping centers and 207 bank branches.
For the last twelve months ended March 2015, Grupo Falabella
reported revenues of CH $ 7.009 billion (approximately USD 12.3B).


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

DJSP ENTERPRISES: Declares Distribution of $0.70 Per Share
----------------------------------------------------------
The Board of Directors of DJSP Enterprises, Inc. declared a cash
nondividend distribution of $0.7000 per ordinary share, payable to
shareholders of record as of Aug. 10, 2015.  The Distribution will
be paid as soon as possible following the Record Date, but in no
event later than Aug. 17, 2015.

The amount of dividends or distributions, if any, that the Company
pays to its shareholders is determined by the Company's Board of
Directors, at its discretion, and is dependent on a number of
factors, including the Company's financial position, results of
operations, cash flows, capital requirements and restrictions
under its credit agreements, and will be in compliance with
applicable law.  The Company cannot guarantee the amount of
dividends or distributions paid in the future, if any.

                      About DJSP Enterprises

Based in Plantation, Florida, DJSP Enterprises, Inc. (Nasdaq:
DJSP, DJSPW, DJSPU) provides a wide range of processing services
in connection with mortgages, mortgage defaults, title searches
and abstracts, REO (bank-owned) properties, loan modifications,
title insurance, loss mitigation, bankruptcy, related litigation
and other services.  Its principal customer is The Law Offices of
David J. Stern, P.A.  It has additional operations in Louisville,
Kentucky and San Juan, Puerto Rico.  Its U.S. operations are
supported by a scalable, low-cost back office operation in Manila,
the Philippines, that provides data entry and document preparation
support for its U.S. operations.

As reported in the Jan. 20, 2011, edition of the TCR, DAL Group,
LLC, a subsidiary of DJSP Enterprises, has obtained waivers on
notes held by these parties for payments due through April 1,
2011:

                                         Amount of Note
                                         --------------
    Law Offices of David J. Stern, P.A.     $47,869,000
    Chardan Capital, LLC,                    $1,000,000
    Chardan Capital Markets, LLC               $250,000
    Kerry S. Propper                         $1,500,000

The waivers were sought by DAL as it develops and implements plans
to restructure its ongoing operations to reflect its significantly
reduced revenues and operations and the other changes.

DAL did not make the interest payments due Jan. 3, 2011, for (i)
unsecured term notes in the aggregate principal amount of
$1,600,000 (ii) and a $500,000 term note issued by Cornix
Management, LLC.  DAL is seeking waivers from the holders of the
unsecured notes and Cornix of principal and interest payments
otherwise due under these notes, and the default interest rates
under these notes, through April 1, 2011.

DAL has entered into a forbearance agreement with BA Note
Acquisition, LLC, pursuant to which BNA has agreed to forbear from
taking action on a $5.5-million line of credit until March 9,
2011.


TRUMP ENTERTAINMENT: Watchdog Challenges Sale of Golf Club
----------------------------------------------------------
Jacqueline Palank, writing for Dow Jones' Daily Bankruptcy Review,
reported that a federal bankruptcy watchdog is challenging the
proposed sale of the Trump International Golf Club in Puerto Rico,
including how the deal will affect the distressed island's
taxpayers.

According to the report, Acting U.S. Trustee Guy Gebhardt is
urging the U.S. Bankruptcy Court in Puerto Rico to block the golf
and country club from moving forward with plans to sell itself to
OHorizons Global LLC for $2 million, subject to higher bids at a
court-overseen auction.

               About Trump Entertainment Resorts

Trump Entertainment Resorts Inc., owner of the Atlantic City
Boardwalk casinos that bear the name of Donald Trump, returned to
Chapter 11 bankruptcy (Bankr. D. Del. Case No. 14-12103) on Sept.
9, 2014, with plans to shutter its casinos.

TER and its affiliated debtors own and operate two casino hotels
located in Atlantic City, New Jersey.  TER said it will close the
Trump Taj Mahal Casino Resort by Sept. 16, 2014, and, absent union
concessions, the Trump Plaza Hotel and Casino by Nov. 13, 2104.

The Debtors have sought an order authorizing the joint
administration of their Chapter 11 cases and the consolidation
thereof for procedural purposes only.  Judge Kevin Gross presides
over the Chapter 11 cases.

The Debtors have tapped Young, Conaway, Stargatt & Taylor, LLP, as
counsel; Stroock & Stroock & Lavan LLP, as co-counsel; Houlihan
Lokey Capital, Inc., as financial advisor; and Prime Clerk LLC, as
noticing and claims agent.

TER estimated $100 million to $500 million in assets as of the
bankruptcy filing.

The Debtors as of Sept. 9, 2014, owe $285.6 million in principal
plus accrued but unpaid interest of $6.6 million under a first
lien debt issued under their 2010 bankruptcy-exit plan.  The
Debtors also have trade debt in the amount of $13.5 million.

                         *     *     *

Judge Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware on March 12, 2015, confirmed Trump Entertainment Resorts,
Inc., et al.'s Third Amended Joint Plan of Reorganization and
Disclosure Statement pursuant to Section 1129 of the Bankruptcy
Code.

The Debtors filed on January 5, 2015, the Plan and accompanying
Disclosure Statement to, among other things, provide that holders
of General Unsecured Claims will receive Distribution Trust
Interests, which will include $1 million in cash and the proceeds,
if any, of certain avoidance actions.  Under the revised plan,
holders of general unsecured claims are estimated to recover 0.47%
to 0.43% of their total allowed claim amount.  The Amended Plan
also includes language reflecting the recently-approved $20
million loan from Carl Icahn.

A full-text copy of the Findings of Fact is available for free at:
http://bankrupt.com/misc/TRUMPENTERTAINMENT_Plan_Findings.pdf


=============================
S T.  K I T T S  &  N E V I S
=============================


BANK OF COMMERCE: Depositors to Recover Losses 30Ys After Collapse
------------------------------------------------------------------
Caribbean360.com reports that customers and creditors who lost
money when the Bank of Commerce closed 30 years ago are in line
for an EC$15 million (US$5.5 million) payout.

Prime Minister Dr. Timothy Harris announced that after three
decades of the bank being in liquidation, a court settlement had
been reached and payments would be made "in the not too distant
future," according to Caribbean360.com.

The report notes that making the disclosure during sitting of
Parliament, he acknowledged that the 30 years it took to reach
this stage was an "entirely unsatisfactory period of time" but
said the settlement would still bring "tremendous relief to the
many suffering depositors in the Bank of Commerce".

The bank was put into liquidation on May 9, 1985 by order of the
court, in response to a petition filed on February 2, 1985, by the
Social Security Board (SSB), one of the financial institution's
creditors, the report relates.

The report discloses that as a result of the settlement, the SSB
will receive about EC$1.4 million (US$518,518) and the government,
which had substantial investment in the bank, would get about
EC$1.2 million (US$444,444).

Additionally, the Nevis Philatelic Bureau is in line for just over
EC$250,000 (US$92,592), the report adds.


                            ***********


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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