TCRLA_Public/160429.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, April 29, 2016, Vol. 17, No. 84


                            Headlines



A R G E N T I N A

ARGENTINA: Central Bank to Take Aim at Inflation, Starting Sept.


B O L I V I A

BOLIVIA: To Improve Natural Disasters Management With IDB Loan


B R A Z I L

BANCO BRADESCO: Profit Misses Estimates
BRAZIL: Moody's Says Real Estate Market to Remain Weak


C A Y M A N  I S L A N D S

ALL SEASONS AFRICA: Commences Liquidation Proceedings
ALL SEASONS CREDIT: Commences Liquidation Proceedings
CHEYNE MULTI-STRATEGY: Creditors' Proofs of Debt Due May 16
CHEYNE MULTI-STRATEGY II: Creditors' Proofs of Debt Due May 16
CP CAYMAN FINANCE: Creditors' Proofs of Debt Due May 25

CP CAYMAN SUBTOPCO: Creditors' Proofs of Debt Due May 25
HDX GROUP: Creditors' Proofs of Debt Due June 24
HSBC ALPHA: Creditors' Proofs of Debt Due June 6
LDK SOLAR: Court Enters Wind-Up Order
MONUMENTS PROPERTIES: Creditors' Proofs of Debt Due May 23

SADAF LEASING: Creditors' Proofs of Debt Due May 25
TANDEM GLOBAL: Commences Liquidation Proceedings
UNIVERSAL COMPRESSION: Commences Liquidation Proceedings


D O M I N I C A N   R E P U B L I C


DOMINICAN REPUBLIC: Haiti Firms Want Ban on Products to Continue


P U E R T O    R I C O

SPORTS AUTHORITY: Stymied in Challenge to Bankruptcy Financing
SPORTS AUTHORITY: Abandons Reorganization, To Pursue Liquidation


T R I N I D A D  &  T O B A G O

TRINIDAD & TOBAGO: Must Look to Increase Export Potential


                            - - - - -



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


ARGENTINA: Central Bank to Take Aim at Inflation, Starting Sept.
----------------------------------------------------------------
Taos Turner at The Wall Street Journal reports that Argentina's
central bank will begin implementing an inflation-targeting system
in September, when Congress begins debating next year's budget,
the bank's president said.

In his first news conference since taking office in December,
Central Bank of Argentina President Federico Sturzenegger said the
monetary authority aims to lower annual inflation to 5% by the end
of 2019, according to The Journal.

That would be a sharp decline from the current rate, which
economists say likely surpasses 35%, the report relays.

President Mauricio Macri's government is overhauling Argentina's
ill-reputed consumer-price index and won't publish its own
estimate until June, the report notes.  Until then, officials
recommend looking at inflation estimates published by this capital
city and the province of San Luis, which said prices there rose
37% on the year in March, the report discloses.

"Nothing will reactivate the economy more than lowering
inflation," Mr. Sturzenegger said, distinguishing himself from his
predecessors at the bank who largely avoided mentioning the word
inflation in public, the report relays.

Indeed, within minutes of beginning his speech, Mr. Sturzenegger
appeared to have used the word inflation more than each of his
predecessors combined since 2010, the report says.  That is when
former central bank President Martin Redrado resigned under
pressure from then-president Cristina Kirchner, the report notes.

Under the Kirchner administration, many officials considered the
word politically toxic.  Key officials even denied inflation
existed, saying instead it was merely a "sensation" felt by
consumers even as they noted frequent double-digit price hikes at
supermarkets and retail stores, the report says.

President Macri, in contrast, has pledged to tackle inflation
directly, and Mr. Sturzenegger said communicating clearly and
frequently about inflation would be a key component of the bank's
new approach to curbing inflation, the report discloses.

The WSJ relays that one way the government is trying to reduce
inflation is by cutting back on the transfer of funds to
Argentina's Treasury.

Under Mrs. Kirchner, the Treasury borrowed heavily from the
central bank-up to 3% of gross domestic product last year,
according to one central bank measurement, the report notes.  That
extra money printing helped fuel inflation, economists said, the
report discloses.

Mr. Sturzenegger aims to lower the transfer of funds to the
Treasury to closer to 2% of GDP this year.

In March, the bank also began focusing on using higher interest
rates to address inflation, Mr. Sturzenegger said, the report
relates.

"In recent weeks, we have stopped debating monetary aggregates and
the quantity of money as much and begun focusing much more on
interest rates," the report quoted Mr. Sturzenegger as saying.
"That's where the focus is, on the value of the interest rate as
an anti-inflationary instrument."

Argentina's bench market interest rate totals around 38%, the
report relays.

Mr. Sturzenegger said the bank doesn't have an exchange-rate
target for the peso and doesn't plan to.  The bank will let the
peso float and intervene in the market only occasionally, the
report notes.

Since the changeover in leadership in December, the bank has
stepped in and bought or sold currency on 17 days out of 86, Mr.
Sturzenegger said, the report relates.

Mr. Sturzenegger said Argentina's exchange-rate policies will be
similar to those in Australia, Brazil and Chile.

"We're not inventing anything new here," the report quoted Mr.
Sturzeneg as saying.  "We're simply copying the exchange rate
regimes used elsewhere," Mr. Sturzeneg added.

The bank aims to lower inflation "as close as possible to 25%" by
the end of the year, Mr. Sturzeneg said, the report notes.  Its
goal is to reduce that rate to 17% or less in 2017 and to under
12% the following year, the report relays.

In recent months, prices have been jumping in and around this
capital, where utility rates have surged, says WSJ.  But Mr.
Sturzenegger said core or "underlying inflation" has been
decelerating, the report relays.

Business leaders say the higher interest rates have hurt growth
and made it harder to borrow money on the cheap, but government
officials say that later this year a lower inflation rate will
spur lending and help boost growth, the report says.

Meanwhile, economists say the bank's inflation targets will work
only if the Macri administration reigns in government spending and
reduces a roughly 5% primary fiscal deficit that has also fueled
inflation in recent years, the report discloses.

"The success of this will depend on how successful the government
is with its fiscal program," the report quoted Javier Alvaredo,
founder of the An†lisis y Coyuntura Macroeconomica, or ACM,
research firm in Buenos Aires, as saying.  "Today that fiscal
program is comprised more of goals than of clear policies."


                             *     *     *

On April 19, 2016, the Troubled Company Reporter-Latin America
reported that Moody's Investors Service upgraded on April 15,
2016, Argentina's government bond rating to B3 from Caa1, with the
outlook changed to stable from positive.  The key drivers for the
upgrade are (i) Moody's expectation that Argentina will settle
holdout creditor claims which will result in a lifting of court
injunctions and clear the way for Argentina to access
international capital markets, as well as the likelihood that
Argentina will make payments to restructured bondholders increased
significantly following an April 13, US circuit court ruling in
favor of Argentina, and (ii) the economic policy improvements
since Mauricio Macri's administration took office last December.
The new government lifted capital controls and allowed the peso to
float more freely, reduced energy and transportation subsidies and
has begun to address longstanding macroeconomic imbalances.

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

On March 30, 2016, after more than 12 hours of debate in the
Senate, Argentina's Congress passed a bill that will allow the
government to repay holders of debt that the South American
country defaulted on in 2001, including a group of litigating
hedge funds that won judgments in a New York court. The bill
passed by a vote of 54-16.

On March 24, 2016, Fitch Ratings has upgraded Argentina's Long-
term local-currency Issuer Default Rating (LT LC IDR) to 'B' from
'CCC', with a Stable Outlook. Fitch has affirmed Argentina's Long-
term foreign-currency (FC) IDR at 'RD' and the short-term FC IDR
at 'RD'. In addition, Fitch has upgraded the Country Ceiling to
'B' from 'CCC'.


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


BOLIVIA: To Improve Natural Disasters Management With IDB Loan
--------------------------------------------------------------
Bolivia will reinforce its capacity to manage the risks of natural
disasters with a $100 million loan from the Inter-American
Development Bank (IDB).

Bolivia faces one of the highest risks of natural disasters in the
Andean region. Events related to the El Ni§o and La Ni§a
phenomenons have cost it between 5 and 15 percent of its Gross
Domestic Product, directly affecting hundreds of thousands of
people.

In recent years, with the support of the IDB and other
multilateral entities, Bolivia launched a series of reforms to
improve the management of risks from natural disasters. In 2014,
it issued regulations for a new law that clearly defines the
institutional responsibilities in reducing risks and responding to
emergencies.

Among the pending challenges for the Bolivian government are
assigning resources for investments to avoid and mitigate natural
disasters; adapting to climate changes; and making systematic use
of risk-management criteria in planning public investments.

The loan, to be disbursed in one operation, is made up of one $85
million loan -- for 30 years, with a six-year grace period and an
interest rate based on LIBOR -- and a $15 million loan for 40
years, with a 40-year grace period and an interest rate fixed at
.25 percent per year.


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


BANCO BRADESCO: Profit Misses Estimates
---------------------------------------
Francisco Marcelino at Bloomberg News reports that Banco Bradesco
SA, Latin America's second-biggest bank by market value, said
first-quarter profit fell 3.8 percent, missing analysts'
estimates, as provisions to cover souring loans increased.

Adjusted net income, which excludes one-time items, declined to
BRL4.11 billion ($1.17 billion) from BRL4.27 billion a year
earlier, the Osasco, Brazil-based company said in a statement,
according to Bloomberg News.  That compares with the BRL4.35
billion estimate of nine analysts surveyed by Bloomberg.

Net income declined to BRL4.12 billion from BRL4.24 billion,
Bloomberg News notes.

Late payments in Brazil have been increasing as bank customers
face the nation's worst recession in a century, Bloomberg News
relays.  The delinquency rate for loans more than 90 days overdue
reached 3.5 percent in February, a three-year high, according to
central bank data, Bloomberg News discloses.  Bradesco's
provisions reached BRL5.44 billion in the first quarter, up from
BRL3.58 billion a year earlier, while debt overdue more than 90
days climbed to 4.2 percent from 3.6 percent, Bloomberg News says.

The bank said bad-loan provisions were "largely" impacted by a
corporate client case of BRL836 million after the company's credit
rating worsened, according to the earnings statement, Bloomberg
News says.

Bradesco didn't name the client, notes the report.

As reported in the Troubled Company Reporter - Latin America on
March 1, 2016, Moody's Investors Service has downgraded Banco do
Brasil S.A. Series 2008-2 Notes rating to Ba1.


BRAZIL: Moody's Says Real Estate Market to Remain Weak
------------------------------------------------------
Brazil's real estate market will remain weak as the nation's
recession hits consumer confidence while at the same time banks
become much more selective in terms of the loans they make, says
Moody's Investors Service.

As the ongoing recession leads to rising unemployment, Moody's
expects payment delays and defaults on mortgage debt to increase
in coming years, despite delinquencies having remained stable at
around 2% over the last five years.

"A sizeable share of outstanding mortgages were originated when
the economy was much healthier," said Ceres Lisboa, a Senior Vice
President at Moody's. "At the time banks were extending credit to
new sets of household borrowers, many of which had limited payment
track records."

Banks will also have to consider alternative funding sources to
support loan origination, as saving deposits decline amid the
recession, according to the report "Brazil - FAQ on the Real
Estate Market Outlook." The report details the main themes from a
Moody's roundtable with market participants last month.

Among Brazil's biggest mortgage lenders, Caixa faces the most
pressing need to consider other funding sources as the value of
its mortgage book already exceeds the value of its savings
deposits.

In this context, Moody's believes that the covered bonds market
has the potential to become an important source of mortgage
funding. "Letras Garantidas (LIGs), which are issued by financial
institutions and are backed by pools of real estate loans, will
eventually offer a low-cost, long-term funding alternative for
home lenders", said Daniela Jayesuria, a Vice President and senior
analyst at Moody's.

As well as assessing mortgage lenders, the FAQ also addresses the
credit challenges facing Brazil's homebuilders.

Moody's expects homebuilders' revenues to fall 10% in 2016 and
predicts that gross margins will remain flat, as the inventory of
completed and unsold units continues to rise. Additionally,
companies could face asset impairments because real estate prices
are falling as sales cancellations are rising.

"As the weak housing market fundamentals persist, there is an
increased likelihood that homebuilders will have to restructure
their debt over the next 18 months", said Cristiane Spercel, a
Vice President and senior analyst at Moody's.



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


ALL SEASONS AFRICA: Commences Liquidation Proceedings
-----------------------------------------------------
On March 30, 2016, the sole shareholder of All Seasons Africa
Opportunities Fund 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:

          Neil Montgomery
          c/o Cathlin Rossiter
          Genesis Trust & Corporate Services Ltd.
          Elgin Court, Elgin Avenue, George Town
          P.O. Box 448 Grand Cayman KY1-1106
          Cayman Islands
          Telephone: (345) 815 8512
          Facsimile: (345) 945 3470


ALL SEASONS CREDIT: Commences Liquidation Proceedings
-----------------------------------------------------
On March 30, 2016, the sole shareholder of All Seasons Africa
Credit Opportunities Fund 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:

          Neil Montgomery
          c/o Cathlin Rossiter
          Genesis Trust & Corporate Services Ltd.
          Elgin Court, Elgin Avenue, George Town
          P.O. Box 448 Grand Cayman KY1-1106
          Cayman Islands
          Telephone: (345) 815 8512
          Facsimile: (345) 945 3470


CHEYNE MULTI-STRATEGY: Creditors' Proofs of Debt Due May 16
-----------------------------------------------------------
The creditors of Cheyne Multi-Strategy Special Purpose Asset
Vehicle Inc. are required to file their proofs of debt by May 16,
2016, to be included in the company's dividend distribution.

The company commenced liquidation proceedings on April 5, 2016.

The company's liquidator is:

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


CHEYNE MULTI-STRATEGY II: Creditors' Proofs of Debt Due May 16
--------------------------------------------------------------
The creditors of Cheyne Multi-Strategy Special Purpose Asset
Vehicle II Inc. are required to file their proofs of debt by
May 16, 2016, to be included in the company's dividend
distribution.

The company commenced liquidation proceedings on April 5, 2016.

The company's liquidator is:

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


CP CAYMAN FINANCE: Creditors' Proofs of Debt Due May 25
-------------------------------------------------------
The creditors of CP Cayman Finance Holdco are required to file
their proofs of debt by May 25, 2016, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on April 6, 2016.

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


CP CAYMAN SUBTOPCO: Creditors' Proofs of Debt Due May 25
--------------------------------------------------------
The creditors of CP Cayman Subtopco are required to file their
proofs of debt by May 25, 2016, to be included in the company's
dividend distribution.

The company commenced liquidation proceedings on April 6, 2016.

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


HDX GROUP: Creditors' Proofs of Debt Due June 24
------------------------------------------------
The creditors of HDX Group (Cayman) Limited are required to file
their proofs of debt by June 24, 2016, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on April 7, 2016.

The company's liquidator is:

          Portcullis Trustnet (Cayman) Ltd.
          c/o Michelle R. Bodden-Moxam
          Telephone: (345) 946-6145
          Facsimile: (345) 946-6146
          The Grand Pavilion Commercial Centre
          Oleander Way, 802 West Bay Road
          P.O. Box 32052 Grand Cayman KY1-1208
          Cayman Islands


HSBC ALPHA: Creditors' Proofs of Debt Due June 6
------------------------------------------------
The creditors of HSBC Alpha Funding (UK) Holdings are required to
file their proofs of debt by June 6, 2016, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on April 6, 2016.

The company's liquidator is:

          Lion International Management Limited
          Craigmuir Chambers
          Road Town, Tortola VG 1110
          British Virgin Islands
          c/o Mr. Philip C Pedro
          HSBC International Trustee Limited
          Compass Point
          9 Bermudiana Road
          Hamilton HM 11
          Bermuda
          Telephone: (441) 299-6482
          Facsimile: (441) 299-6526


LDK SOLAR: Court Enters Wind-Up Order
-------------------------------------
On April 6, 2016, the Grand Court of Cayman Islands entered an
order to wind up the operations of LDK Solar Co., Ltd.

The company's liquidators are:

          David Martin Griffin
          FTI Consulting (Cayman) Limited
          Suite 3212, 53 Market Street, Camana Bay
          P.O. Box 30613, Grand Cayman KY1-1203
          Cayman Islands

               - and -

          John Howard Batchelor
          FTI Consulting (Hong Kong) Limited
          The Center, Level 22
          99 Queen's Road Central, Central
          Hong Kong


MONUMENTS PROPERTIES: Creditors' Proofs of Debt Due May 23
----------------------------------------------------------
The creditors of Monuments Properties Limited are required to file
their proofs of debt by May 23, 2016, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on April 7, 2016.

The company's liquidator is:

          Zedra Holdings (Cayman) Limited
          FirstCaribbean House, 4th Floor
          P.O. Box 487 Grand Cayman KY1-1106
          Cayman Islands
          Telephone: (345) 949-7128


SADAF LEASING: Creditors' Proofs of Debt Due May 25
---------------------------------------------------
The creditors of Sadaf Leasing Company Limited are required to
file their proofs of debt by May 25, 2016, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on April 8, 2016.

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


TANDEM GLOBAL: Commences Liquidation Proceedings
------------------------------------------------
On March 31, 2016, the members of Tandem Global Fund 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:

          BW Gestao De Investimentos Ltda.
          c/o Alfredo Althen Schiavo
          Telephone: +11 3095 2855
          Avenida Das Nacoes Unidas
          12.901-Torre Oeste-24th Floor
          Sao Paulo, SP 04578-910
          Brazil


UNIVERSAL COMPRESSION: Commences Liquidation Proceedings
--------------------------------------------------------
On March 31, 2016, the sole shareholder of Universal Compression
Cayman 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:

          Walkers Liquidations Limited
          c/o Peter Kendall
          Cayman Corporate Centre
          27 Hospital Road, George Town
          Grand Cayman KY1-9008
          Cayman Islands
          Telephone: +1 345 949 0100


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


DOMINICAN REPUBLIC: Haiti Firms Want Ban on Products to Continue
----------------------------------------------------------------
Dominican Today, citing EFE News, reports that the Economic Forum
of the private sector in Haiti, which groups several leading
companies, asked the country's authorities to maintain the ban on
the entry by land on 23 products from the Dominican Republic.

Then President Michel Martelly issued the executive order now in
effect since last October 1, according to Dominican Today.

"The ban supports domestic production and tax revenues," and helps
a "more competitive" market, because there is "greater control
over products entering," the Forum said in a statement, the report
notes.

It calls trade with the Dominican Republic "important" but also
deems "necessary to protect the local economy, which is suffering
a lot because of low production and lack of investment," the
report relays.

On the list of barred products figure flour, butter, shortening,
water and cooking oil, soap, cement, paint and products for
vehicle bodywork and construction equipment, the report relays.

The Customs Office at Belladere (eastern Haiti) remains shuttered
after it was vandalized, during several days of protests demanding
the lifting of the ban, the report says.

Moreover, the binational border markets were suspended on several
occasions last year, by Haitian merchants and Dominican truckers
protesting the ban, 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
======================


SPORTS AUTHORITY: Stymied in Challenge to Bankruptcy Financing
--------------------------------------------------------------
Peg Brickley, writing for Dow Jones' Daily Bankruptcy Review,
reported that Sports Authority's creditors battled the failing
retailer and its lenders to a standstill over bankruptcy financing
that critics said offered no funding for a last-ditch effort to
save the company.

According to the report, Judge Mary Walrath has ordered changes to
the loan package.  If lenders don't agree to the adjustments,
"then I'm prepared to convert the case today," the judge said,
meaning she would toss Sports Authority out of the relative
comfort of chapter 11 bankruptcy and into a chapter 7 liquidation,
where a trustee would make the crucial decisions, the report
related.

Lenders are looking over the revised loan deal, which will be
taken up again at hearing in the U.S. Bankruptcy Court in
Wilmington, Del., the report said.  The decision was a victory for
junior creditors, which contended that instead of a lifeline,
Sports Authority's lenders tossed it a noose, the report further
related.

The report said the April 26 courtroom debate over the financing
shaped into an argument between senior lenders on the one hand,
and unsecured creditors, including landlords, on the other hand,
about which camp was supporting Sports Authority in bankruptcy.
Lawyers for multiple lenders defended the financing as the best
available for a company that was in deep trouble, with funded debt
of more than $1 billion and sagging sales, the report added.

              About Sports Authority Holdings

Sports Authority Holdings, et al., are sporting goods retailers
with roots dating back to 1928.  The Debtors currently operate 464
stores and five distribution centers across 40 U.S. states and
Puerto Rico.  The Debtors offer a broad selection of goods from a
wide array of household and specialty brands, including Adidas,
Asics, Brooks, Columbia, FitBit, Hanesbrands, Icon Health and
Fitness, Nike, The North Face, and Under Armour, in addition to
their own private label brands.  The Debtors employ 13,000 people.

Sports Authority and six of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 16-10527 to
16-10533) on March 2, 2016.  The petitions were signed by Michael
E. Foss as chairman & chief executive officer.

The Debtors have engaged Gibson, Dunn & Crutcher LLP as general
counsel, Young Conaway Stargatt & Taylor, LLP as co-counsel,
Rothschild Inc. as investment banker, FTI Consulting, Inc., as
financial advisor and Kurtzman Carson Consultants LLC as notice,
claims, solicitation, balloting and tabulation agent.

Andrew Vara, Acting U.S. trustee for Region 3, appointed seven
creditors of Sports Authority Holdings Inc. to serve on the
official committee of unsecured creditors.


SPORTS AUTHORITY: Abandons Reorganization, To Pursue Liquidation
----------------------------------------------------------------
Peg Brickley, writing for Dow Jones' Daily Bankruptcy Review,
reported that Sports Authority has abandoned hope of reorganizing
and exiting bankruptcy and instead will count on buyers to save
parts of its sprawling retail chain, company lawyer Robert Klyman
told a judge on April 26.

"It has become apparent that the debtors will not reorganize under
a plan but instead will pursue a sale," Mr. Klyman told Judge Mary
Walrath at a hearing in the U.S. Bankruptcy Court in Wilmington,
Del., according to the report.

Loaded with more than $1.1 billion in debt, Sports Authority filed
for bankruptcy protection in March, saying it would attempt to
trim its operations and restructure, while looking for buyers as
an alternate path. Now the alternative route is the only path
forward for the distressed retailer, an employer of thousands of
people, the report related.  Some stores were already being closed
when the bankruptcy filing came, others were to follow, and a May
16 auction is set for the bulk of Sports Authority's operations,
the report further related.

"Major" potential bidders are looking over Sports Authority's
assets, and the company hopes for a good outcome to the auction,
Mr. Klyman, a lawyer at Gibson Dunn Crutcher, told the Court, the
report said.

              About Sports Authority Holdings

Sports Authority Holdings, et al., are sporting goods retailers
with roots dating back to 1928.  The Debtors currently operate 464
stores and five distribution centers across 40 U.S. states and
Puerto Rico.  The Debtors offer a broad selection of goods from a
wide array of household and specialty brands, including Adidas,
Asics, Brooks, Columbia, FitBit, Hanesbrands, Icon Health and
Fitness, Nike, The North Face, and Under Armour, in addition to
their own private label brands.  The Debtors employ 13,000 people.

Sports Authority and six of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 16-10527 to
16-10533) on March 2, 2016.  The petitions were signed by Michael
E. Foss as chairman & chief executive officer.

The Debtors have engaged Gibson, Dunn & Crutcher LLP as general
counsel, Young Conaway Stargatt & Taylor, LLP as co-counsel,
Rothschild Inc. as investment banker, FTI Consulting, Inc., as
financial advisor and Kurtzman Carson Consultants LLC as notice,
claims, solicitation, balloting and tabulation agent.

Andrew Vara, Acting U.S. trustee for Region 3, appointed seven
creditors of Sports Authority Holdings Inc. to serve on the
official committee of unsecured creditors.


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T R I N I D A D  &  T O B A G O
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TRINIDAD & TOBAGO: Must Look to Increase Export Potential
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Leah Sorias at Trinidad Express reports that more conversations
need to be held on how this country can increase its export
potential instead of increasing expenditure, former minister in
the Ministry of Finance Mariano Browne has advised.

"Many of us who are looking for Government expenditure to kick-
start the economy . . .. it is a non-starter.  It will not work,"
Browne told business executives at an economic forum hosted by the
Trinidad and Tobago Chamber of Industry and Commerce at its
Westmoorings headquarters, according to Trinidad Express.

The Troubled Company Reporter-Latin America on March 2, 2016,
citing Trinidad Express, reported that Prime Minister Dr. Keith
Rowley said that Trinidad and Tobago is "certainly not bankrupt"
but we do have "cash flow" problems.


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Monday's edition of the TCR-LA delivers a list of indicative
prices for bond issues that reportedly trade well below par.
Prices are obtained by TCR-LA editors from a variety of outside
sources during the prior week we think are reliable.   Those
sources may not, however, be complete or accurate.  The Monday
Bond Pricing table is compiled on the Friday prior to publication.
Prices reported are not intended to reflect actual trades.  Prices
for actual trades are probably different.  Our objective is to
share information, not make markets in publicly traded securities.
Nothing in the TCR-LA constitutes an offer or solicitation to buy
or sell any security of any kind.  It is likely that some entity
affiliated with a TCR-LA editor holds some position in the
issuers' public debt and equity securities about which we report.

Tuesday's edition of the TCR-LA features a list of companies with
insolvent balance sheets obtained by our editors based on the
latest balance sheets publicly available a day prior to
publication.  At first glance, this list may look like the
definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

Submissions about insolvency-related conferences are encouraged.
Send announcements to conferences@bankrupt.com


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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 comillionercial 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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