TCRLA_Public/160120.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

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

            Wednesday, January 20, 2016, Vol. 17, No. 13


                            Headlines



A R G E N T I N A

CHUBUT PROVINCE: Moody's Retains Caa1 Rating on USD150MM Program


B A H A M A S

ULTRAPETROL (BAHAMAS): S&P Lowers CCR to 'D' & Removes from Watch


B R A Z I L

BANCO ABC: S&P Affirms 'BB+' Global Scale Rating; Outlook Negative
BANCO DE BRASILIA: S&P Cuts ICR to 'BB-' & Removes from Watch Neg.
BRAZIL: Analysts Up Outlook for Inflation, GDP Forecast Unchanged
HAITONG BANCO: Moody's Withdraws B2 Currency Deposit Rating
HAITONG BANCO: Moody's Withdraws Baa3.br Sr. Unsec. Debt Rating


C A Y M A N  I S L A N D S

ASCEND TRADING: Commences Liquidation Proceedings
CIAVARRA LTD: Commences Liquidation Proceedings
CREP INVESTMENT I: Commences Liquidation Proceedings
CREP INVESTMENT K: Commences Liquidation Proceedings
CRYSTAL CLO: Commences Liquidation Proceedings

GOLD NICK: Commences Liquidation Proceedings
NOUVELAIR TUNISIE: Commences Liquidation Proceedings
PERSPECTIVE FUND: Commences Liquidation Proceedings
SIGNUM MENA: Commences Liquidation Proceedings
SIGNUM MIG I: Commences Liquidation Proceedings

SIGNUM PLATINUM II: Commences Liquidation Proceedings
SINOSUN HOLDING: Commences Liquidation Proceedings
SOPHIAN VENTURE: Commences Liquidation Proceedings
VANTAGE DRILLING: Units Win U.S. Approval of Prepack Plan
VENTURE II CDO 2002: Commences Liquidation Proceedings

YAYOS INVESTMENT: Commences Liquidation Proceedings


C O L O M B I A

PACIFIC EXPLORATION: EIG Global Said to Reboot Offer for Firm


D O M I N I C A N   R E P U B L I C

DOMINICAN REPUBLIC: Groups Take Govt. to Court Over Coal Plants
DOMINICAN REPUBLIC: Inequality is a Big Problem, AEIH Says
DOMINICAN REP: Bank Loans Climb to US$1.95BB; Drought Hobbles Agro


P U E R T O    R I C O

ALLIED FINANCIAL: Case Summary & 10 Largest Unsecured Creditors
AMERICAN AGENCIES: Unsecureds to Recoup 25% Under Exit Plan
INMOBILIARIA AVE: Voluntary Chapter 11 Case Summary
LAS AMERICAS: Disclosure Statement Hearing on Jan. 29
LAS AMERICAS: Secured Creditor Balks at Disclosure Statement

TERRASSA CONCRETE: Case Summary & 20 Largest Unsecured Creditors


T R I N I D A D  &  T O B A G O

ARCELORMITTAL: Steel Workers to Return on Shift Basis


                            - - - - -


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


CHUBUT PROVINCE: Moody's Retains Caa1 Rating on USD150MM Program
----------------------------------------------------------------
Moody's Latin America Agente de Calificacion de Riesgo said that
the Caa1 (Global Scale local currency) and Baa2.ar (Argentina
National Scale) ratings to the Province of Chubut's USD150 million
Short-Term Treasury Bills Program remain unchanged after the
extension of the maximum authorized amount by USD38 million.  The
ratings are in line with the province's long term local currency
issuer ratings, which carry positive outlook.

RATINGS RATIONALE

The Short-Term Treasury Bills Program was originally created by
Resolution N 163/12 of the provincial Ministry of Economy for a
maximum amount of USD50 million which was subsequently increased
to USD150 by Resolution N693/15.  On Jan. 7, 2016, Resolution N§
1/16 increased the total permissible amount for up to USD188
million approximately whereas Resolution N 2/16 set the general
issuance conditions of the bills within the program.  The applied
debt ratings reflect Moody's view that the willingness and
capacity of the Province of Chubut to honor these short-term
treasury notes is in line with the provincial's long-term credit
quality as reflected in the Caa1/Baa2.ar issuer ratings in local
currency.

According to the term sheet reviewed by Moody's, the short-term
bills will all be issued in local currency, will mature in up to
365 days with bullet amortization.  After the issuance of these
new Bills under the maximum authorized amount, Moody's anticipates
that the Province's total debt will rise to approximately 40% of
total expected revenues for 2016 fiscal year from an estimated 38%
for the end of 2015 fiscal year.  This expected increase in the
debt to total revenues ratio is still consistent with Chubut
current ratings.

The applied ratings are based on preliminary documentation
received by Moody's as of the rating assignment date.  Moody's
does not expect changes to the documentation reviewed over this
period or anticipates changes in the main conditions that the
notes will carry.  Should issuance conditions and/or final
documentation of any of the classes under this program deviate
from the original ones submitted and reviewed by the rating
agency, Moody's will assess the impact that these differences may
have on the ratings and act accordingly.

WHAT COULD CHANGE THE RATING UP/DOWN

Given the strong macroeconomic and financial linkages between the
Government of Argentina's and Sub-sovereigns economic and
financial profiles and ratings, and upgrade of Argentina's
sovereign bonds ratings and/or the improvement of the country'
operating environment could lead to an upgrade of the Province of
Chubut's.  Conversely, a downgrade in Argentina's bond ratings
and/or further systemic deterioration or idiosyncratic risks
arising in this Province could exert downward pressure on the
ratings assigned and could translate in to a downgrade in the near
to medium term.

The principal methodology used in this rating was Regional and
Local Governments published in January 2013.


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


ULTRAPETROL (BAHAMAS): S&P Lowers CCR to 'D' & Removes from Watch
-----------------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its corporate
credit rating on South American shipping company Ultrapetrol
(Bahamas) Ltd. to 'D' from 'CC'.  At the same time, Standard &
Poor's lowered its issue-level rating on the company's senior
secured notes to 'D' from 'CC'.  Standard & Poor's removed the
ratings from CreditWatch, where they were placed Dec. 15, 2015.

On Dec. 15, Ultrapetrol announced it would not pay interest and
principal on some loans, and interest on its notes.  The company
had a 30-day cure period to make the payments.  During this time,
it was able to reach forbearance agreements with some banks, but
has not yet reached one with noteholders.  "Because Ultrapetrol
did not pay interest on the notes, and changed terms and
conditions of the original loan contracts, we consider this a
general default on its obligations," said Standard & Poor's credit
analyst Marcus Fernandez.

S&P will reassess the company's financial risk profile and capital
structure once negotiations with all lenders are complete.


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


BANCO ABC: S&P Affirms 'BB+' Global Scale Rating; Outlook Negative
------------------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'BB+'
global scale and 'brAA' national scale ratings on Banco ABC Brasil
S.A. (ABC Brasil).  The outlook is negative and the bank's stand-
alone credit profile (SACP) remains 'bb+'.

The ratings on ABC Brasil are based on the bank's "moderate"
business position, "adequate" capital and earnings, "strong" risk
position, "below average" funding profile and "adequate"
liquidity.  The bank's strong asset quality, conservative risk
management, and stable revenues partially offset its "moderate"
business position, given its small size, concentrated business
lines, and its "below average" funding profile.  The bank's
consistent performance supports a risk-adjusted capital ratio of
more than 7.5% for the next two years, while the bank maintains
comfortable liquidity to honor short-term obligations.

The negative outlook for the next 12 months on Banco ABC Brasil
S.A. reflects that on the Federative Republic of Brazil.  S&P
rarely rates banks above the sovereign ratings, as it believes the
bank's creditworthiness could not withstand a sovereign default.

S&P could lower the ratings following a similar rating action on
the sovereign, particularly if Brazil's external and fiscal
indicators further weakened.  This could occur if Brazil does not
uphold its commitment to its stated policies, or if Brazil's
various policy corrections distort the market.  In such an event,
S&P could also revise our Banking Industry Country Risk Assessment
(BICRA) on Brazil, because S&P currently assess its economic risk
trend as negative.  Still, a weaker anchor wouldn't result in a
downgrade, given that ABC Brasil may receive notches of group
support from its parent, if necessary.

The ratings could also be lowered if Arab Banking Corp B.S.C. is
downgraded two notches or more.

Conversely, S&P would revise the outlook to stable following a
similar action on the sovereign ratings.


BANCO DE BRASILIA: S&P Cuts ICR to 'BB-' & Removes from Watch Neg.
------------------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its long-term
issuer credit ratings on BRB -- Banco de Brasilia S.A. to 'BB-'
from 'BB' on global scale and to 'brA-' from 'brA+' on a national
scale.  At the same time, Standard & Poor's removed the ratings
from CreditWatch where they were placed with negative implications
Sept. 10, 2015.  The outlook is negative.

"The downgrade follows the revision of our assessment of BRB's
capital and earnings score to moderate from adequate, reflecting
the deterioration in its capitalization according to our risk-
adjusted capital methodology," said Standard & Poor's credit
analyst Edgard Dias.

BRB is fully controlled by Distrito federal State (GDF), and
benefits from stable funding and commercial conditions in the
region, especially with payroll lending to state employees.
Nevertheless, as its shareholder is facing difficult financial
conditions, S&P believes some funding limitations could occur to
BRB, should GDF financial woes increase.

Under S&P's bank criteria, it uses its Banking Industry Country
Risk Assessment's economic and industry risk scores to determine a
bank's anchor, the starting point in assigning an issuer credit
rating.  S&P's anchor for a commercial bank operating only in
Brazil is 'bbb-', based on the banking sector's economic risk
score of '6' and industry risk score of '5'.

The negative outlook on BRB reflects S&P's perspectives that
financial conditions for the Federal District are also negative
for the next 18 months, according to S&P's internal analysis.
S&P's outlook also reflects the deteriorating economic conditions
in Brazil, which have been reflecting in the bank's weaker asset
quality.  In S&P's view, this could further pressure the bank's
capitalization and earnings over the next 18 months.

S&P believes that there is a one-in-three chance of downgrading
BRB by more than one notch, if S&P concludes that the Federal
District continues to face fiscal woes and that these are
impacting BRB credit fundamentals.  Furthermore, S&P would
downgrade the bank if its NPLs plus charge offs do not retreat to
below 7% in the next 12 months, or if Brazil's economic conditions
continue to weaken and this is reflected in a lower anchor under
S&P's BICRA assessment.  S&P could also lower the ratings on BRB
if the bank's capital ratios, according to S&P's RAC methodology,
continue decreasing below 5% because of weaker profitability,
higher dividend payments, or weaker economic conditions and anchor
reflected in S&P's BICRA assessment.

S&P could revise its outlook to stable if the Federal District's
finances improved consistently, and the bank's capitalization
resumes growing, with improving asset quality, reflected in NPLs
plus charge offs below 7%; this will also need to be combined with
improving economic conditions in the country that reflect a stable
economic trend under BICRA assessment for Brazil.


BRAZIL: Analysts Up Outlook for Inflation, GDP Forecast Unchanged
-----------------------------------------------------------------
EFE News reports that private-sector analysts continued to
forecast a 2.99 percent drop in Brazil's gross domestic product
(GDP) in 2016, but they raised their inflation outlook to 7.0
percent at year's end, the Central Bank said.

The GDP and inflation figures come from the Boletin Focus, a
weekly Central Bank survey of analysts from about 100 private
financial institutions in Brazil on the state of the national
economy, according to EFE News.

Brazil could be headed for a second straight year of economic
contraction, the report notes.  The analysts surveyed by the
monetary authority said the South American giant's economy shrank
at its fastest clip of the last 25 years in 2015 -- 3.71 percent,
the report relays.

The private-sector economists predicted that Brazil's economy
would start recovering in 2017 with a 1 percent rise in GDP, up
slightly from their 0.86-percent growth forecast in the previous
survey, the report says.

Analysts, meanwhile, were more pessimistic about the inflation
rate for this year, with their forecast rising from 6.93 percent
to 7 percent, the report notes.

That outlook is outside the government's target range of between
2.5 percent and 6.5 percent but still lower than Brazil's 10.67
percent inflation rate in 2015, the highest level in 13 years, the
report notes.

The analysts also raised their inflation forecast for 2017 from
5.2 percent last week to 5.4 percent, says EFE.

Brazil, in a technical recession with GDP contracting for three
consecutive quarters, has had its sovereign debt lowered to junk
status by Standard & Poor's and Fitch Ratings.

Those downgrades have occurred even though analysts note that
Brazil's foreign currency reserves are far in excess of its
international liabilities, the report notes.

The South American giant's economic growth has been hampered by
spending cuts implemented by President Dilma Rousseff's
administration to reduce the budget deficit and control inflation,
the report adds.

As reported in the Troubled Company Reporter-Latin America on
Dec. 21, 2015, Fitch Ratings has downgraded Brazil's ratings:

   -- Long-term foreign and local currency Issuer Default Ratings
      (IDRs) to 'BB+' from 'BBB-', Outlook remains Negative;

   -- Senior unsecured foreign and local currency bonds to 'BB+'
      from 'BBB-';

   -- Short-term foreign currency IDR to 'B' from 'F3'.


HAITONG BANCO: Moody's Withdraws B2 Currency Deposit Rating
-----------------------------------------------------------
Moody's Investors Service has withdrawn all ratings assigned to
Haitong Banco de Investimento do Brasil S.A (Haitong Brazil),
including the long and short-term local and foreign currency
deposit ratings of B2 and Not Prime, respectively, as well as the
Brazilian national scale deposit ratings of Baa3.br and BR-3, for
long and short-term.  Moody's has also withdrawn the long and
short-term senior unsecured MTN program (foreign currency) ratings
of (P)B2 and (P)Not Prime, the b2 baseline credit assessment
(BCA), the b2 adjusted baseline credit assessment (adjusted BCA)
and the counterparty risk assessments of B1(cr) and Not Prime(cr)
assigned to Haitong Brazil.  Before the withdrawal, the outlook on
all ratings was positive.

RATINGS RATIONALE

Moody's has withdrawn the rating for its own business reasons.

Moody's took its last rating action on Haitong Brazil on 23
September 2015, when Moody's upgraded Haitong Brazil's long-term
Brazilian national scale deposit rating to Baa3.br from Ba2.br;
and the short-term Brazilian national scale deposit rating to BR-3
from BR-4.  At the same time, Moody's affirmed the bank's BCA of
b2; the long and short-term local and foreign currency deposit
ratings of B2 and Not Prime, respectively, and the long and short-
term senior unsecured MTN program (foreign currency) rating of
(P)B2 and (P)Not Prime.  In addition, Moody's revised the outlook
for all of Haitong Brazil's long-term global scale ratings to
positive from developing.  Haitong Brazil was previously known as
BES Investimento do Brasil S.A.

Moody's National Scale Credit Ratings (NSRs) are intended as
relative measures of creditworthiness among debt issues and
issuers within a country, enabling market participants to better
differentiate relative risks.  NSRs differ from Moody's global
scale credit ratings in that they are not globally comparable with
the full universe of Moody's rated entities, but only with NSRs
for other rated debt issues and issuers within the same country.
NSRs are designated by a ".nn" country modifier signifying the
relevant country, as in ".za" for South Africa.

Haitong Banco de Investimento do Brasil S.A. is headquartered in
Sao Paulo, Brazil and had consolidated assets of BRL5.4 billion
(USD1.7 billion) and equity of BRL655.1 million (USD211 million)
as of June 30, 2015.


HAITONG BANCO: Moody's Withdraws Baa3.br Sr. Unsec. Debt Rating
---------------------------------------------------------------
Moody's America Latina Ltda has withdrawn all ratings assigned to
Haitong Banco de Investimento do Brasil S.A (Haitong Brazil),
including the long-term local currency senior unsecured debt
rating of B2 as well as the long-term Brazilian national scale
senior unsecured debt rating of Baa3.br.  Before the withdrawal,
the outlook on all ratings was positive.

RATINGS RATIONALE

Moody's has withdrawn the rating for its own business reasons.

Moody's took its last of rating action on Haitong Brazil was on 23
September 2015, when Moody's upgraded Haitong Brazil's long-term
Brazilian national scale senior unsecured debt rating to Baa3.br
from Ba2.br.  At the same time, Moody's affirmed Haitong Brazil's
long-term global scale senior unsecured debt rating of B2 and
revised its outlook to positive from developing.  Haitong Brazil
was previously known as BES Investimento do Brasil S.A.

The principal methodology used in this rating was Banks published
in January 2016.

Moody's National Scale Credit Ratings (NSRs) are intended as
relative measures of creditworthiness among debt issues and
issuers within a country, enabling market participants to better
differentiate relative risks.  NSRs differ from Moody's global
scale credit ratings in that they are not globally comparable with
the full universe of Moody's rated entities, but only with NSRs
for other rated debt issues and issuers within the same country.
NSRs are designated by a ".nn" country modifier signifying the
relevant country, as in ".za" for South Africa.

Haitong Banco de Investimento do Brasil S.A. is headquartered in
Sao Paulo, Brazil and had consolidated assets of BRL5.4 billion
(USD1.7 billion) and equity of BRL655.1 million (USD211 million)
as of June 30, 2015.


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


ASCEND TRADING: Commences Liquidation Proceedings
-------------------------------------------------
At an extraordinary meeting held on Nov. 26, 2015, the members of
Ascend Trading Limited resolved to voluntarily liquidate the
company's business.

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

The company's liquidator is:

          David Dyer
          P.O. Box 1984 Grand Cayman KY1-1104
          Cayman Islands
          Telephone: (345)949-8244
          Facsimile: (345)949-5223


CIAVARRA LTD: Commences Liquidation Proceedings
-----------------------------------------------
On Nov. 23, 2015, the sole shareholder of Ciavarra Ltd resolved to
voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Jan. 7, 2016, will be included in the company's dividend
distribution.

The company's liquidator is:

          CDL Company Ltd.
          P.O. Box 31106 Grand Cayman KY1-1205
          Cayman Islands


CREP INVESTMENT I: Commences Liquidation Proceedings
----------------------------------------------------
On Nov. 19, 2015, the shareholder of CREP Investment I Cayman
resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Jan. 6, 2016, will be included in the company's dividend
distribution.

The company's liquidator is:

          Intertrust SPV (Cayman) Limited
          190 Elgin Avenue, George Town
          Grand Cayman KY1-9005
          Cayman Islands
          c/o Susan Craig/Jennifer Chailler
          Telephone: (345) 943-3100


CREP INVESTMENT K: Commences Liquidation Proceedings
----------------------------------------------------
On Nov. 19, 2015, the shareholder of CREP Investment K Cayman
resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Jan. 6, 2016, will be included in the company's dividend
distribution.

The company's liquidator is:

          Intertrust Spv (Cayman) Limited
          190 Elgin Avenue, George Town
          Grand Cayman KY1-9005
          Cayman Islands
          c/o Susan Craig/Jennifer Chailler
          Telephone: (345) 943-3100


CRYSTAL CLO: Commences Liquidation Proceedings
----------------------------------------------
At an extraordinary meeting held on Nov. 26, 2015, the members of
Crystal CLO, Ltd. resolved to voluntarily liquidate the company's
business.

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

The company's liquidator is:

          David Dyer
          P.O. Box 1984 Grand Cayman KY1-1104
          Cayman Islands
          Telephone: (345)949-8244
          Facsimile: (345)949-5223


GOLD NICK: Commences Liquidation Proceedings
--------------------------------------------
On Nov. 23, 2015, the sole shareholder of Gold Nick Holdings
resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Jan. 7, 2016, will be included in the company's dividend
distribution.

The company's liquidator is:

          CDL Company Ltd.
          P.O. Box 31106 Grand Cayman KY1-1205
          Cayman Islands


NOUVELAIR TUNISIE: Commences Liquidation Proceedings
----------------------------------------------------
At an extraordinary meeting held on Nov. 26, 2015, the members of
Nouvelair Tunisie (Cayman) Limited resolved to voluntarily
liquidate the company's business.

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

The company's liquidator is:

          David Dyer
          P.O. Box 1984 Grand Cayman KY1-1104
          Cayman Islands
          Telephone: (345)949-8244
          Facsimile: (345)949-5223


PERSPECTIVE FUND: Commences Liquidation Proceedings
---------------------------------------------------
On Nov. 23, 2015, the sole shareholder of Perspective Fund SPC
resolved to voluntarily liquidate the company's business.

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

The company's liquidator is:

          Summit Management Limited
          c/o David Egglishaw
          Telephone: (345) 945 7676
          Suite # 4-210, Governors Square
          P.O. Box 32311 Grand Cayman KY1-1209
          Cayman Islands


SIGNUM MENA: Commences Liquidation Proceedings
----------------------------------------------
At an extraordinary meeting held on Nov. 26, 2015, the members of
Signum Mena Limited resolved to voluntarily liquidate the
company's business.

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

The company's liquidator is:

          David Dyer
          P.O. Box 1984 Grand Cayman KY1-1104
          Cayman Islands
          Telephone: (345)949-8244
          Facsimile: (345)949-5223


SIGNUM MIG I: Commences Liquidation Proceedings
-----------------------------------------------
At an extraordinary meeting held on Nov. 26, 2015, the members of
Signum MIG I Limited resolved to voluntarily liquidate the
company's business.

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

The company's liquidator is:

          David Dyer
          P.O. Box 1984 Grand Cayman KY1-1104
          Cayman Islands
          Telephone: (345)949-8244
          Facsimile: (345)949-5223


SIGNUM PLATINUM II: Commences Liquidation Proceedings
-----------------------------------------------------
At an extraordinary meeting held on Nov. 26, 2015, the members of
Signum Platinum II Ltd resolved to voluntarily liquidate the
company's business.

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

The company's liquidator is:

          David Dyer
          P.O. Box 1984 Grand Cayman KY1-1104
          Cayman Islands
          Telephone: (345)949-8244
          Facsimile: (345)949-5223


SINOSUN HOLDING: Commences Liquidation Proceedings
--------------------------------------------------
At an extraordinary general meeting held on Nov. 18, 2015, the
shareholders of Sinosun Holding Corp. resolved to voluntarily
liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Jan. 6, 2016, will be included in the company's dividend
distribution.

The company's liquidator is:

          Mark Longbottom
          c/o Camele Burke
          Duff & Phelps (Cayman) Limited
          The Harbour Centre
          42 North Church Street
          P.O. Box 10387 Grand Cayman KY1-1004
          Cayman Islands
          Telephone: (345) 623 9904
          Facsimile: (345) 943 9900


SOPHIAN VENTURE: Commences Liquidation Proceedings
--------------------------------------------------
On Nov. 19, 2015, the sole shareholder of Sophian Venture Holdings
Limited resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Dec. 23, 2015, will be included in the company's dividend
distribution.

The company's liquidator is:

          Lion International Management Limited
          The R&H Trust Co. Ltd.
          Windward 1, Regatta Office Park
          P.O. Box 897 Grand Cayman KY1-1103
          Cayman Islands


VANTAGE DRILLING: Units Win U.S. Approval of Prepack Plan
---------------------------------------------------------
Offshore Group Investment Limited on Jan. 15 disclosed that the
Company and its affiliated chapter 11 debtors have received court
approval of their prepackaged restructuring and recapitalization
plan pursuant to an order dated January 15, 2016.

"The Court's confirmation of our Prepackaged Plan marks an
important milestone in our path to emerge from chapter 11 and
secure our future as a robust, well-capitalized offshore drilling
services provider.  We will continue to provide our customers with
industry-leading expertise and safe, efficient drilling services,
as is our norm," said Paul Bragg, Chief Executive Officer.  "The
senior management team and I sincerely appreciate the ongoing
support of our customers, suppliers, and stakeholders, as well as
the unrelenting dedication of our employees, which together have
allowed us to continue our operations in the normal course
throughout this process."

Among other things, the Prepackaged Plan eliminates more than $1.5
billion of senior secured debt and most cash interest.  More
specifically, the Prepackaged Plan provides for a debt-for-equity
swap that will result in existing term loan lenders and secured
noteholders converting their loans and notes into equity and a pro
rata share of $750 million of senior subordinated convertible
notes.  The new notes will pay interest through the issuance of
additional notes (PIK notes) and will have no cash interest
burden.  Holders of indebtedness under OGIL's asset-backed
revolving credit facility will execute an amended and restated
senior secured term loan and letter of credit facility and will
receive a payment of $7 million in cash. OGIL also completed a
fully backstopped rights offering of senior secured second lien
notes with an aggregate offering amount of up to $75 million.  All
customer, vendor, and employee obligations associated with the
ongoing business will remain unaffected.

Weil, Gotshal & Manges LLP is serving as legal counsel and Lazard
Freres & Co. LLC is serving as investment banker to OGIL.  Alvarez
& Marsal North America, LLC is serving as financial adviser to
OGIL.

                       About Offshore Group

Offshore Group Investment Limited is an international offshore
drilling company operating a fleet of modern, high-specification
drilling units around the world.  Its principal business is to
contract their drilling units, related equipment, and work crews
to drill underwater oil and natural gas wells for major, national,
and independent oil and natural gas companies.

Offshore Group Investment Limited and 23 other units of publicly
traded Vantage Drilling Company filed Chapter 11 bankruptcy
petitions (Bankr. D. Del. Lead Case No. 15-12421) on Dec. 3, 2015
to pursue a prepackaged restructuring backed by Vantage.

Christopher G. DeClaire, the authorized officer, signed the
petition.

The Debtors have engaged Weil, Gotshal & Manges LLP as counsel;
Richards, Layton & Finger, P.A. as co-counsel; Lazard Freres & Co.
LLC as investment banker; Alvarez & Marsal North America, LLC, as
restructuring advisor; and Epiq Bankruptcy Solutions, LLC as
claims and noticing agent.

                      About Vantage Drilling

Vantage, a Cayman Islands exempted company, is an offshore
drilling contractor, with an owned fleet of three ultra-deepwater
drillships; the Platinum Explorer, the Titanium Explorer and the
Tungsten Explorer, as well as four Baker Marine Pacific Class 375
ultra-premium jackup drilling rigs.  Vantage's primary business is
to contract drilling units, related equipment and work crews
primarily on a dayrate basis to drill oil and natural gas wells.
Vantage also provides construction supervision services for, and
will operate and manage, drilling units owned by others.  Through
its fleet of seven owned drilling units, Vantage is a provider of
offshore contract drilling services globally to major, national
and large independent oil and natural gas companies.


VENTURE II CDO 2002: Commences Liquidation Proceedings
------------------------------------------------------
At an extraordinary meeting held on Nov. 26, 2015, the members of
Venture II CDO 2002, Limited resolved to voluntarily liquidate the
company's business.

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

The company's liquidator is:

          David Dyer
          P.O. Box 1984 Grand Cayman KY1-1104
          Cayman Islands
          Telephone: (345)949-8244
          Facsimile: (345)949-5223


YAYOS INVESTMENT: Commences Liquidation Proceedings
---------------------------------------------------
On Nov. 23, 2015, the sole shareholder of Yayos Investment Company
resolved to voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Jan. 7, 2016, will be included in the company's dividend
distribution.

The company's liquidator is:

          CDL Company Ltd.
          P.O. Box 31106 Grand Cayman KY1-1205
          Cayman Islands


===============
C O L O M B I A
===============


PACIFIC EXPLORATION: EIG Global Said to Reboot Offer for Firm
-------------------------------------------------------------
Matthew Monks at Bloomberg News reports that EIG Global Energy
Partners is planning to seek to buy control of Pacific Exploration
& Production Corp., about six months after retreating from a
takeover attempt of the struggling Colombian energy company,
people with knowledge of the matter said.

Harbour Energy Ltd., an investment vehicle EIG set up in 2014 to
buy energy assets, is preparing to start a tender offer for most
of Pacific's debt, which would give it the leverage to force the
company into bankruptcy in Canada, where it trades, said the
people, who asked not to be identified because the information is
private, according to Bloomberg News.

Harbour plans to offer about $1 billion for at least 80 percent of
four tranches of Pacific's senior bonds in a tender offer that
could commence as soon, the people said, Bloomberg News notes.
Harbour would offer a premium to holders of the notes, which
traded at an average 15 cents on the dollar as of late Jan. 13,
Bloomberg News relays.

Pacific, based in Bogota, is one of Latin America's largest energy
explorers, producing the equivalent of about 150,000 barrels of
oil a day from fields in Colombia, Brazil, Peru and elsewhere,
according to a November investor presentation, Bloomberg News
notes.  The company was known as Pacific Rubiales Energy Corp.
until it changed its name in August, Bloomberg News says.

Harbour and Mexico's Alfa SAB withdrew a bid -- valued at one
point at as much as $1.7 billion -- for Pacific after the
company's largest shareholder spurned their offer, Bloomberg News
discloses.  The stock has plunged 76 percent since Harbour and
Alfa announced their decision to walk away from the deal, with
Pacific's market value falling to about C$398.3 million ($277
million) as of Dec. 13's close from C$1.65 billion in July,
Bloomberg News relays.

Like all explorers, Pacific is reeling from the rout in oil
prices, Bloomberg News notes.  Its particular problems stem from
accruing too much debt in recent years by making acquisitions and
investing heavily in infrastructure, Bloomberg News discloses.
Another issue: Its license to drill in Colombia's Rubiales field,
the source for more than a third of its production, expires in
June, Bloomberg News says.

Pacific retained Lazard Ltd. in December to negotiate with its
bank lenders.

"Its debt is far far too high in this commodity environment,"
Darren Engels, an analyst with FirstEnergy Capital
Corp. in Calgary that covers that company, said by phone,
Bloomberg News notes.  "I have a target price of zero on the
name," Mr. Engels added.

While the company has been seeking to stave off bankruptcy by
selling pipelines and other infrastructure to raise cash, which
may not be enough, Mr. Engels said, because the value of those
types have assets have declined along with commodity prices,
Bloomberg News notes.

Harbour is working with Citigroup Inc. to manage the tender
offering, according to the people familiar with the matter,
Bloomberg News relays.  If it succeeds, within weeks Harbour would
seek to sponsor Pacific in a restructuring under Canada's
Companies Creditors Arrangement Act, the people said, Bloomberg
News notes.  It would provide additional financing to continue
operating and handle negotiations with its other creditors,
including the banks that hold it's roughly $1 billion revolving
credit line, the people said, Bloomberg Newssays.

EIG, based in Washington, raised $6 billion in 2013 for its most
recent fund, Bloomberg News discloses.  It paid about $520 million
in 2013 to buy an entity developing the Port of Acu in Brazil from
former billionaire Eike Batista, Bloomberg News adds.


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


DOMINICAN REPUBLIC: Groups Take Govt. to Court Over Coal Plants
---------------------------------------------------------------
Dominican Today reports that two environmental groups and social
and southern Peravia province community organizations and from
other towns said they expect the Superior Administrative Court to
protect the people of Catalina, Paya and the city of Bani, from
the pollution once the two coal-fired power plants start
operations.

The National Climate Change Combat Committee (UNFCCC) and the
Environment Protection Attorneys Institute (INSAPROMA) said they
filed for an injunction for preventive environmental protection
based on Article 66 of the Constitution, which stipulates the
population's right to health and a healthy environment,
"threatened by the heavy pollution which these plants produce,"
according to Dominican Today.

"It's the judges' duty to protect the inhabitants of the
communities near coal plants from the effects of 174,000 tons of
ash and 14,000 tons of slag per year produced by these plants as
waste from burning coal; 30 tons of nitrogen dioxide and 30 tons
of sulfur dioxide each day to be spewed into the atmosphere, and
numerous heavy metal micro-particles," the organizations said in a
statement obtained by the news agency.

They said the toxic substances in the area will lead to a health
and environmental disaster, causing respiratory diseases,
especially in children and the elderly, cardiovascular,
cerebrovascular and lung cancers and skin diseases, and severe
damage to the region's agriculture, the report notes.

They said the environmental and health disaster would double with
the installation of a third plant, which was "authorized by a
secret agreement signed by the government with the company Pinegy
Commercial Group, SRL," a recent revelation which became another
government scandal, the report relays.

If built, the third plant would've generated 600 megawatts,
according to independent deputy Minou Tavarez Mirabal and
opposition ADP party president Max Puig, the report adds.

As reported in the Troubled Company Reporter-Latin America on
Dec. 3, 2015, Fitch Ratings affirmed the Dominican Republic's
long-term foreign and local currency Issuer Default Ratings (IDRs)
at 'B+'.  The Rating Outlooks on the long-term IDRs are revised to
Positive from Stable. The issue ratings on the Dominican
Republic's senior unsecured foreign and local currency bonds are
affirmed at 'B+'. The Country Ceiling is affirmed at 'BB-' and the
short-term foreign currency IDR at 'B'.


DOMINICAN REPUBLIC: Inequality is a Big Problem, AEIH Says
----------------------------------------------------------
Dominican Today reports that the Herrera and Santo Domingo
Province Industries Association (AEIH) called the return on equity
of the workers' pension fund compared with the Administrators'
profits "a great asymmetry."

AEIH president Antonio Taveras said if there's a sector which
reveals the country's inequity, it's the Pension Fund
Administrators (AFP), according to Dominican Today.

Mr. Taveras said it's unacceptable that in 2015 the average AFP
will earn 43.5% before taxes compared with 2014, while the workers
funds' nominal yield reached just 11.5%.  "We're facing the
dramatic reality that the profitability of the workers funds
represents only 26.5% of profits received by the companies that
manage their resources," Mr. Taveras added.

The report notes that Mr. Taveras said the profits at worker'
expense is outrageous, which in his view expands poverty and is a
detriment to business competitiveness.

The report relays that Mr. Taveras said it's regretful that the
authorities fail to deal with those problems apparently "because
of the power that certain groups that dominate finances which he
says are the most highly concentrated among the Dominican
economy."

The industry leader called inequality the country's "big problem,"
with wealth concentrated in a few hands and a systematic erosion
of real wages, plunging down to the levels of the 1990s, the
report adds.

As reported in the Troubled Company Reporter-Latin America on
Dec. 3, 2015, Fitch Ratings affirmed the Dominican Republic's
long-term foreign and local currency Issuer Default Ratings (IDRs)
at 'B+'.  The Rating Outlooks on the long-term IDRs are revised to
Positive from Stable. The issue ratings on the Dominican
Republic's senior unsecured foreign and local currency bonds are
affirmed at 'B+'. The Country Ceiling is affirmed at 'BB-' and the
short-term foreign currency IDR at 'B'.


DOMINICAN REP: Bank Loans Climb to US$1.95BB; Drought Hobbles Agro
------------------------------------------------------------------
Dominican Today reports that with agro only the exception, credit
in most sectors directly contributed to their expanse and
dynamism, with greatest impact on the 7.0% growth during 2015,
LatAm''s highest, the Dominican Republic Banks Association (ABA)
said.

It said the 2015 loan portfolio grew to RD$87.9 billion (US$1.95
billion), with RD$6.7 billion allocated to manufacturing, RD$6.1
billion to the hotel sector, RD$5.7 billion to micros, RD$1.0
billion to construction and RD$0.6 billion to mining, among
others, according to Dominican Today.

The ABA, headed by Jose Manuel Lopez Valdes, said among the
activities which demand goods and services from productive sectors
figure consumer loans (credit cards and others), at RD$33.1
billion, retailers (RD$27.8 billion) and homeownership (RD$18.1
billion), the report notes.

"In one year we can see that the growth of the loan portfolio may
be concentrated in sectors which at that time are driving the
growth of the economy, and in a later time, the orientation may
vary, channeling resources to a greater extent, to other
activities responsible for economic stimulus," the banker said,
the report relays.

The report adds that Mr. Lopez said the agro sector's RD$2.8
billion credit in 2015 resulted from what he affirms were negative
factors such as the bans on Dominican horticultural products by
Haiti and the US, and the drought which hobbled that industry's
performance.

Mr. Lopez stressed the growth of credit in real terms for micro
businesses (31.0%), consumer goods (16.8%) and homeownership
(12.8%), the report adds.

As reported in the Troubled Company Reporter-Latin America on
Dec. 3, 2015, Fitch Ratings affirmed the Dominican Republic's
long-term foreign and local currency Issuer Default Ratings (IDRs)
at 'B+'.  The Rating Outlooks on the long-term IDRs are revised to
Positive from Stable. The issue ratings on the Dominican
Republic's senior unsecured foreign and local currency bonds are
affirmed at 'B+'. The Country Ceiling is affirmed at 'BB-' and the
short-term foreign currency IDR at 'B'.


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


ALLIED FINANCIAL: Case Summary & 10 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Allied Financial, Inc.
        128 Avenida Roosevelt
        Hato Rey, PR 00918

Case No.: 16-00180

Chapter 11 Petition Date: January 15, 2016

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

Judge: Hon. Mildred Caban Flores

Debtor's Counsel: Carmen D Conde Torres, Esq.
                  C. CONDE & ASSOC.
                  254 San Jose Street, 5th Floor
                  San Juan, PR 00901-1523
                  Tel: 787-729-2900
                  Fax: 787-729-2203
                  Email: notices@condelaw.com

Total Assets: $10.28 million

Total Debts: $9.14 million

The petition was signed by Rafael Portela, president of the Board
of Directors.

List of Debtor's 10 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Allied Management Group, Inc.           Loans         $1,919,539
PO Box 191117
San Juan, PR
00919-1117

Banco Popular De PR                     Credit          $232,245

Comisionado De Instituciones                              $3,144
Financieras

Condado II, LLC                        Credit           $500,000
PO Box 20868
San Juan, PR 00928

CRIM                                                     $11,576

Departamento De Hacienda            Withholding           $3,862

FDR Properties, Inc.               Rent/Utilities        $47,518

Jose R. Armstrong                        Tax            $392,810
PO Box 191314
San Juan, PR 00919-1314

Municipality of San Juan                 Tax             $44,485

WM Capital Partners 53, LLC                             $145,000


AMERICAN AGENCIES: Unsecureds to Recoup 25% Under Exit Plan
-----------------------------------------------------------
American Agencies Co., Inc., and New Steel, Inc., filed a Chapter
11 plan that lets the existing owners retain control of the steel
structures manufacturing business.

Banco Popular de Puerto Rico filed a secured claim in the total
amount of $2,525,927.  The claim will be paid in full from the
sale of collateral, within a maximum of 36 months, and interest
will be paid under the same loan rate.  The Debtors will continue
to pay monthly installments of $16,670 on a monthly basis,
independent to additional payments to principal due to sale of
collateral until full payment of the debt.

The Debtors are proposing a 25% payment to unsecured creditors
within 36 months.  The Debtors contend that this amount is
substantially more than liquidation as the liquidation analysis
shows a liquidation value of 5%.  General unsecured creditors were
listed in the Debtors' consolidated schedules in the total amount
of $10,696,322.

Equity security holders will receive no dividend at all under the
Plan and will not be allowed to vote.

On the effective date of the Plan, the distribution,
administration and management of the Debtors' affairs will be
under the control and supervision of the current officers, who
will assume the same roles they have assume throughout the
reorganization process.

A copy of the Consolidated Disclosure Statement and Plan of
Reorganization/Liquidation filed Jan. 13, 2016, is available for
free at:

       http://bankrupt.com/misc/Amer_Agencies_109_DS.pdf

                      About American Agencies

Puerto Rico-based American Agencies Co., Inc., founded in 1956 by
Eng. Jorge A. Rivera Cardona sells and installs steel fabricated
structures, along with the sale of doors and hardware.  American
Agencies operates from leased facilities in Rio Piedras, Puerto
Rico.  New Steel, Inc., fabricates steel structures that American
Agencies sells and installs.

American Agencies and New Steel filed Chapter 11 bankruptcy
petitions (Bankr. D.P.R. Case Nos. 15-07088 and 15-07090,
respectively) on Sept. 15, 2015.  The petitions were signed by
Omir Mendez, the president.  The Debtors cases are substantive
consolidated under Lead Case 15-07088.

American Agencies disclosed $6,810,695 in assets and $9,738,804 in
debt in its schedules.  New Steel disclosed $8,429,855 in assets
and $12,182,464 in debt in its schedules.  Banco Popular de Puerto
Rico is the largest secured creditor.

The Debtors tapped C. Conde & Associates as counsel; Doris Barroso
Vicens, CPA, at RSM ROC & Company, as accountant; Xavier A. Curret
from Landa Umpierre, P.S., as external auditor; Moises
Avila-Sanchez, Esq., from Avila, Martinez & Hernandez, P.S.C., as
special counsel relating to collective bargaining agreements; Jose
Julian Alvarez-Maldonado Esq., from the firm Fiddler, Gonzalez &
Rodriguez, P.S.C., as special counsel to provide special services
in corporate and contractual matters; and Ismael Isern Suarez from
I.S. Appraiser Group, P.S.C., as appraiser.


INMOBILIARIA AVE: Voluntary Chapter 11 Case Summary
---------------------------------------------------
Debtor: Inmobiliaria Ave Fenix, LLC
        Carretera 123 Kilometro 8.5
        Barrio Magueyes
        Ponce, PR 00730

Case No.: 16-00229

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: January 15, 2016

Court: United States Bankruptcy Court
       District of Puerto Rico (Ponce)

Debtor's Counsel: Javier Vilarino, Esq.
                  VILARINO & ASSOCIATES LLC
                  PO Box 9022515
                  San Juan, PR 00902-2515
                  Tel: 787-565-9894
                  Email: jvilarino@vilarinolaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Samuel Hernandez, president.

The Debtor did not include a list of its largest unsecured
creditors when it filed the petition.


LAS AMERICAS: Disclosure Statement Hearing on Jan. 29
-----------------------------------------------------
Judge Edward A. Godoy of the U.S. Bankruptcy Court for the
District of Puerto Rico will convene a hearing on Jan. 29, 2016,
at 9:30 a.m. to consider approval of the disclosure statement
explaining Las Americas 74-75, Inc.'s Chapter 11 plan.

The Debtor has filed a Chapter 11 plan that proposes a 100%
payment to creditors.

The Debtor says that through its bankruptcy proceeding, it will be
able to maximize the return of its assets while providing
distribution to all creditors, including payment to its secured
creditor ALD Acquisition, LLC.

ALD's claim secured with a first rank lien in the amount of
$4,380,000 over Lot No. 74 will be paid in full within 90 days
from the Effective Date.  ALD's allowed claim secured with a
second rank note in the amount of $3,250,000 over Lot No. 74 will
be paid within 90 days from the Effective Date.  General unsecured
claims of the Debtor will be paid in full within 24 months from
the Effective Date.  Holders of equity interests will not receive
distribution under the Plan until all senior classes are paid in
full.

                           Plan Timeline

The Debtor filed its plan of reorganization and its disclosure
statement on July 13, 2015.  A copy of the Disclosure Statement is
available for free at:

     http://bankrupt.com/misc/Las_Americas_55_DS.pdf

On August 11, 2015, the Debtor filed its first supplement to the
Disclosure Statement.  A copy of the document is available for
free at:

     http://bankrupt.com/misc/Las_Americas_72_DS_Supplement.pdf

The Court scheduled a hearing to approve the adequacy of the
Disclosure Statement for Aug. 28, 2015, granting creditors and
parties in interest until Aug. 14 to file objections thereto.

On Aug. 14, 2015, ALD Acquisitions, LLC, filed an objection to the
Disclosure Statement.

In December 2015, the judge scheduled another hearing on the
Disclosure Statement for Jan. 29.

                     About Las Americas 74-75

Las Americas 74-75, Inc., was incorporate in 2004 by Porfirio
Guzman and Maria M. Benitez, and is the owner of certain real
estate property located at the Hato Rey Ward, in San Juan, Puerto
Rico, right next to the reorganized area of Plaza Las Americas.

Las Americas 74-75, Inc., sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. D.P.R. Case No. 15-01527) on March 2,
2015.

The petition was signed by Omar Guzman Benitez, vice president.

The case is assigned to Judge Edward Godoy.

Las Americas 74-75 tapped Carmen Conde Torres, Esq., at C. Conde &
Associates, in San Juan, Puerto Rico, as counsel; and Albert
Tamarez Vasquez as accountant.

Las Americas disclosed total assets estimated at $21.2 million and
total debt estimated at $18.7 million.


LAS AMERICAS: Secured Creditor Balks at Disclosure Statement
------------------------------------------------------------
Secured creditor ALD Acquisitions, LLC, opposes the approval of
the disclosure statement explaining Las Americas 74-75, Inc.'s
Chapter 11 plan.

ALD claims that the Disclosure Statement contains misleading and
false financial information in that:

  * The Disclosure Statement doesn't disclose the accounting and
valuation methods utilized to produce the financial information
contained therein; the actual or projected value that can be
obtained from avoidable transfers; the tax consequences of the
Plan; and the relationship of the Debtor with affiliates.

  * the Debtor's liability as reported in the Balance Sheet seems
to be understated and differs from the liabilities that are
reported in the Disclosure Statement and contemplated in the Plan.

  * The Disclosure Statement fails to accurately account for the
secured portions of ALD's claims in Classes 4, 5, 6, 7 and 8
limiting the same to only the face value of the mortgage notes,
without taking into consideration their extension to past due
interest, penalties, and legal costs, as specified in the mortgage
deed.

  * The Plan and Disclosure Statement fail to provide for the
payment of postpetition interest to creditors, as well as interest
on the proposed deferred payments under the Plan

ALD adds that the Disclosure Statement does not provide sufficient
information of material facts concerning the Debtor's books and
records.  It cites, among other things,

  * The Debtor's expression that it "proposes to sell or refinance
the Lot No. 75 within two years from effective date" and with such
funds pay all other claims, without more, is not only highly
speculative, but lacks any information allowing creditors to be
able to vote in favor or against the Plan, with knowledge of the
risks they are taking and as to what they are going to get, when
are they going to get it and the contingencies present for the
proposed distribution.

  * The Disclosure Statement fails to disclose with supporting
evidence as to when, how and the sources these creditors,
including ALD, are to be paid, since the Debtor fails to indicate
why Lot 75 is not to be refinanced or sold now, for how much it
expects to refinance or sell the same vis a vis existing
encumbrances, its efforts to that effect, the amount of any
expected sale or refinancing and the basis therefor.

Secured creditor ALD Acquisitions is represented by:

         Charles A. Cuprill-Hernandez
         CHARLES A. CUPRILL, P.S.C., LAW OFFICES
         356 Fortaleza Street - Second Floor
         San Juan, PR 00901
         Tel: 787-977-0515
         Fax: 787-977-0518
         E-mail: ccuprill@cuprill.com

                     About Las Americas 74-75

Las Americas 74-75, Inc., was incorporate in 2004 by Porfirio
Guzman and Maria M. Benitez, and is the owner of certain real
estate property located at the Hato Rey Ward, in San Juan, Puerto
Rico, right next to the reorganized area of Plaza Las Americas.

Las Americas 74-75, Inc., sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. D.P.R. Case No. 15-01527) on March 2,
2015.

The petition was signed by Omar Guzman Benitez, vice president.

The case is assigned to Judge Edward Godoy.

Las Americas 74-75 tapped Carmen Conde Torres, Esq., at C. Conde &
Associates, in San Juan, Puerto Rico, as counsel; and Albert
Tamarez Vasquez as accountant.

Las Americas disclosed total assets estimated at $21.2 million and
total debt estimated at $18.7 million.


TERRASSA CONCRETE: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Terrassa Concrete Industries, Inc.
        URB. Sta. Rosa
        35-17, Calle 24
        Bayamon, PR 00959

Case No.: 16-00182

Chapter 11 Petition Date: January 15, 2016

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

Judge: Hon. Enrique S. Lamoutte Inclan

Debtor's Counsel: Alexis Fuentes Hernandez, Esq.
                  FUENTES LAW OFFICES, LLC
                  PO Box 9022726
                  San Juan, PR 00902-2726
                  Tel: (787) 722-5216
                  Fax: (787) 722-5206
                  Email: alex@fuentes-law.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Luis E. Terrassa Muniz, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/prb16-00182.pdf



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


ARCELORMITTAL: Steel Workers to Return on Shift Basis
-----------------------------------------------------
Carolyn Kissoon at Trinidad Express reports that dismissed workers
of ArcelorMittal, Point Lisas, are expected to return to work on a
shift system following seven days of orientation.

This is according to Steel Workers Union of Trinidad and Tobago
(SWUTT) president general, Christopher Henry, who led workers onto
the company's Point Lisas compound, according to Trinidad Express.

The report notes that Mr. Henry said the workers, who were served
temporary lay-off letters in December, arrived for work at around
6:00 a.m.  Mr. Henry said they were expected to begin orientation
exercises, the report discloses.

As reported in the Troubled Company Reporter-Latin America on Dec.
9, 2015, Trinidad Express reports that some 600 workers of Point
Lisas steel manufacturing company ArcelorMittal were told that
they no longer had a job.  A month after the company stopped steel
production citing global and local economic condition, it informed
the representative Steel Workers Union of Trinidad and Tobago, and
the workers would be laid off, according to Trinidad Express.

                            ***********


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 2016.  All rights reserved.  ISSN 1529-2746.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.

Information contained herein is obtained from sources believed to
be reliable, but is not guaranteed.

The TCR Latin America subscription rate is US$775 per half-year,
delivered via e-mail.  Additional e-mail subscriptions for members
of the same firm for the term of the initial subscription or
balance thereof are US$25 each.  For subscription information,
contact Peter A. Chapman at 215-945-7000 or Nina Novak at
202-362-8552.


                   * * * End of Transmission * * *