TCRLA_Public/160729.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, July 29, 2016, Vol. 17, No. 149


                            Headlines



B R A Z I L

BRAZIL: IDB OKs $25 Million Loan for Santo Andre


C A Y M A N  I S L A N D S

AURORA HEDGED: Shareholders' Final Meeting Set for Aug. 11
AVOCET LEASING: Shareholders' Final Meeting Set for Aug. 10
BULOH INVESTMENT: Shareholders' Final Meeting Set for Aug. 15
CALIBE INVESTMENT: Shareholders' Final Meeting Set for Aug. 15
CHINA FISHERY: Files for Ch. 11 Bankruptcy Due to El Nino

CHINA FISHERY: Taps Goldin Associates as Financial Advisor
CHINA FISHERY: Taps RSR Consulting as Restructuring Consultant
CHINA FISHERY: Seeks to Hire Meyer Suozzi as Legal Counsel
BECA MACRO: Shareholders' Final Meeting Set for Sept. 30
EDANVI MANAGEMENT: Shareholders' Final Meeting Set for Aug. 15

FUTURE LTD: Shareholders' Final Meeting Set for Aug. 15
GREENHILL CAPITAL: Shareholders' Final Meeting Set for Aug. 11
GRP NOMINEE: Shareholders' Final Meeting Set for Aug. 19
TOPAZ PROPERTIES: Shareholders' Final Meeting Set for Aug. 10
UC BACCHUS: Shareholders' Final Meeting Set for Aug. 11

UC STILETTO: Shareholders' Final Meeting Set for Aug. 11
UC UNIVERSE: Shareholders' Final Meeting Set for Aug. 11
VSK (CPO): Shareholders' Final Meeting Set for Sept. 5
WILLOW INVESTMENT: Shareholders' Final Meeting Set for Aug. 15


D O M I N I C A N   R E P U B L I C

DOMINICAN REPUBLIC: West Region Groups Oppose Proposed Mining


J A M A I C A

JAMAICA: Looks to the East to Boost Cruise Tourism Sector


M E X I C O

FINANCIERA BEPENSA: Moody's Withdraws B2 Corporate Family Rating


P U E R T O    R I C O

AEROPOSTALE INC: Sycamore Rift Goes to Trial as Vote Proceeds
FANTASY JEWELRY: Hires Monge Robertin as Insolvency Advisor
JOYUDA SEA FOOD: Hires Acevedo as Accountant
KOMODIDAD DISTRIBUTORS: Hires Vallejo as Real Estate Appraiser
SPORTS AUTHORITY: Top Executive Bonuses Draw Fire


V E N E Z U E L A

VENEZUELA: IMF Executive Board Holds Informal Briefing


                            - - - - -


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


BRAZIL: IDB OKs $25 Million Loan for Santo Andre
------------------------------------------------
The Inter-American Development Bank (IDB) has approved a $25
million loan to improve transport infrastructure in the
municipality of Santo Andre, in the greater Sao Paulo region in
Brazil.

The program will finance works that include a project to improve
the bridge over the Tamanduatei River, and will also enhance the
city's connections with the rest of the metropolitan area and the
port of Santos. The plan also calls for construction of around
four kilometers of dedicated rapid transit lanes for buses (BRT),
which will reduce travel times and greenhouse gas emissions.

The new bus stations will be universally accessible, including
spaces for baby strollers and wheelchairs. The program will also
improve urban facilities in intervention areas and will finance
the broadening and improvement of sidewalks, new streetlights, and
the creation of green areas and bike lanes.

Finally, the program will support the implementation of a
strategic road safety plan that will include public awareness
measures to reduce traffic accidents, improvements in the safety
of access to public schools, and monitoring and evaluation
activities.

The project will cut down on travel times for trucks, privately
owned vehicles and buses and improve citizens' satisfaction with
the municipal transport system. It will also improve access to low
carbon public transport for a greater number of residents,
boosting air quality and the overall quality of life in Santo
AndrÇ.

The $25 million IDB loan is for a 25-year term, with a 5.5-year
grace period and a LIBOR-based interest rate.

As reported in the Troubled Company Reporter-Latin America on
March 29, 2016, severe contraction that was preceded by several
years of below-trend growth has impaired Brazil's (Ba2 negative)
underlying economic strength, despite the country's large and
diversified economy, says Moody's Investors Service.  The
country's credit rating is also coming under pressure from the
government's high level of mandatory spending.



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


AURORA HEDGED: Shareholders' Final Meeting Set for Aug. 11
----------------------------------------------------------
The shareholders of Aurora Hedged Equity Offshore Fund Ltd. will
hold their final meeting on Aug. 11, 2016, at 10:00 a.m., to
receive the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

          Scott Montpas
          c/o Aurora Investment Management L.L.C.
          300 N. La Salle Street
          Chicago
          Illinois 60654
          United States of America
          Telephone: +312 762 6717


AVOCET LEASING: Shareholders' Final Meeting Set for Aug. 10
-----------------------------------------------------------
The shareholders of Avocet Leasing Limited will hold their final
meeting on Aug. 10, 2016, at 10:00 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

          Phang Thim Fatt
          8 Shenton Way #18-01
          Singapore 068811


BULOH INVESTMENT: Shareholders' Final Meeting Set for Aug. 15
-------------------------------------------------------------
The shareholders of Buloh Investment Ltd. will hold their final
meeting on Aug. 15, 2016, at 10:00 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

          ITA Bank and Trust Company Ltd.
          Suite 4210, 2nd Floor Canella Court
          48 Market Street, Camana Bay
          P.O. Box 32203 Grand Cayman, KY-1208
          Cayman Islands


CALIBE INVESTMENT: Shareholders' Final Meeting Set for Aug. 15
--------------------------------------------------------------
The shareholders of Calibe Investment Ltd. will hold their final
meeting on Aug. 15, 2016, at 12:00 noon, to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

          Morval Bank & Trust Cayman Ltd.
          Telephone: 1 (345) 949-9808
          P.O. Box 30622 Grand Cayman KY1-1203
          Cayman Islands


CHINA FISHERY: Files for Ch. 11 Bankruptcy Due to El Nino
---------------------------------------------------------
China Fishery Group Limited, the Singapore-listed unit of Hong
Kong's Pacific Andes International Holdings Ltd., filed a
voluntary petition under Chapter 11 of the Bankruptcy Code in the
U.S. Bankruptcy Court for the Southern District of New York on
June 30, 2016.

China Fishery, which sought bankruptcy protection with 15
affiliates, seeks to implement a restructuring of their
businesses and utilize the automatic stay to prevent creditors
from forcing a fire sale, which would preclude structurally
subordinated creditors and shareholders from realizing value.

The Debtors intend to operate their businesses in the ordinary
course during these Chapter 11 cases.

According to documents filed with the Court, "[T]he value of the
CF Group is in jeopardy as a result of the aggressive and
improper acts by certain lenders and natural events (El Nino)
that together have triggered a liquidity crisis.  A small group
of lenders have grown impatient with (or are outright hostile to)
a sale process that the Debtors commenced pre-petition and are
threatening to enforce their rights against their respective
Debtor obligors."

Ng Puay Yee, managing director of Pacific Andes, said that while
the Pacific Andes Group's initial goal was to maintain their
businesses while finding sufficient cash to pay off their
obligations, by September of 2015 it had become evident that they
might need to take drastic steps to preserve as much of the
Pacific Anded Group as possible.  Accordingly, it was
contemplated that some or all of the CF Group would be sold.  At
that time, an estimated market value of $1.6 to $1.7 billion had
been placed on the CF Group by Deloitte & Touche Financial
Advisory Services, Hong Kong.  Had a sale been consummated in
this range, the Initial Proposed Divestment would have allowed
all creditors of Pacific Andes to be paid in full.

                        Appointment of JPLs

On Nov. 25, 2015, all negotiations were derailed by the ex parte
commencement by The Hongkong and Shanghai Banking Corporation
Limited of an action in the Hong Kong Court seeking the winding
up of China Fishery Group Limited and China Fisheries
International Limited and the appointment of joint provisional
liquidators.

Three joint provisional liquidators were appointed on an ex parte
basis over CFGL and CFIL, two of the Debtors.  On Jan. 5, 2016,
their appointment was quashed by the very court that appointed
them due to a failure by the petitioning party to have presented
any credible evidence supporting the appointment of the JPLs.
Moreover, the Court found that the evidence that HSBC had
submitted was stale and did not merit the appointment in any way.

"The appointment of the JPLs severely impacted negotiations with
potential buyers and investors.  The uncertainty caused by the
appointment of the JPLs, and the suspension of operations,
unsettled buyers and investors.  Moreover, a forced deadline of
July 15, 2016, by which a sale must be completed has led many
potential buyers to take a "wait and see" attitude in hopes that
there might be a fire sale," Mr. Yee maintained.

               Restructuring Process for CFG Peru

In light of the immense and long standing financial difficulties
and ongoing threats that were faced by or made against CFG Peru
and the CF Group, especially with respect to its Peruvian
business, the CF Group concluded that it was necessary to protect
the Peruvian business of the CF Group.

On June 30, 2016, ordinary insolvency proceedings were commenced
in respect of each of CFG Investment, Copeinca and Sustainable
Fishing Resources by way of an involuntary petition since the
Peruvian Filing Entities were unable to satisfy the technical
requirements of being able to submit audited financial statements
for the fiscal year period ending April 30, 2016.  Shortly after
the commencement of the Peruvian Restructuring Proceedings, given
the integral nature of the Peruvian Filing Entities to the
Peruvian Andes Group and the CF Group, each of the Peruvian
Filing Entities filed a petition under Chapter 15 of the
Bankruptcy Code seeking recognition of the Peruvian Restructuring
Proceedings by the Bankruptcy Court.

                       About China Fishery

China Fishery Group Limited (Cayman), et al., along with certain
non-debtor affiliated entities, are part of a business group
known as the Pacific Andes Group, which is the 12th largest
seafood company in the world and one of the world's foremost
vertically integrated seafood companies.  The Pacific Andes Group
provides seafood products to leading global wholesalers,
processors and food service companies and has operations across
the seafood value chain.

As part of its business, the Pacific Andes Group engages in
harvesting, sourcing, ocean logistics and transportation, food
safety testing, processing, marketing and distribution of frozen
fish products, as well as fishmeal and fish oil.  The Pacific
Andes Group's businesses span the globe with major operations in
the People's Republic of China, the United States and Peru,
including processing businesses in China, Germany, France, the
United States and Peru.

The Debtors are comprised primarily of investment holding
companies and non-operating companies that previously were in the
business of trading frozen seafood products or providing freight
services.  The Debtors also include: Protein Trading, a fishmeal
trading company; SPSA, which provides shipping agency services;
CFGLPL, a property investment company; and CFIL.

CFG Investment S.A.C. Corporacion Pesquera Inca S.A.C. and
Sustainable Fishing Resources, S.A.C. are affiliates of the
Debtors, part of the CF Group, the subject of insolvency
proceedings in Peru and the subject of Chapter 15 filings before
the Bankruptcy Court.  Pacific Andes Resources Development
Limited is also contemplated to be the subject of insolvency
proceedings in Singapore and a Chapter 15 proceedings before the
Bankruptcy Court.

As of March 28, 2015, the Pacific Andes Group, on a consolidated
and unaudited basis, held approximately $4,669 million in assets
and $2,515 million in liabilities.  As of the Petition Date, the
Debtors have approximately $4.27 million of cash on hand,
including $1,687,007 on account of Meyer, Zuozzi, English, &
Klein, P.C. in New York (in the form of a retainer for the
rateable account of all Debtors), $1,720,000 on account with
Goldin Associates, LLC in New York and $650,000 on account with
RSR Consulting, LLC.

The CF Group employs more than 2,800 people, of which 2,400
employees are based in Peru.

The Debtors are represented by Howard B. Kleinberg, Edward J.
LoBello, and Thomas R. Slome of Meyer, Suozzi, English & Klein as
counsel.  RSR Consulting LLC and Goldin Associates, LLC are the
Debtors' financial consultant.

The Debtors have requested joint administration of their Chapter
11 cases under Case No. 16-11895.


CHINA FISHERY: Taps Goldin Associates as Financial Advisor
----------------------------------------------------------
China Fishery Group Limited (Cayman) seeks approval from the U.S.
Bankruptcy Court for the Southern District of New York to hire
Goldin Associates, LLC, as financial advisor.

The firm will provide these services in connection with the
Chapter 11 cases of China Fishery and its affiliates:

     (a) prepare financial models for underlying assets and
         assessment of cash requirements;

     (b) prepare valuation and financial analysis of underlying
         assets;

     (c) support litigation by providing expert testimony and
         assistance with document requests;

     (d) provide expert testimony on valuation or plan
         feasibility

     (e) conduct a site visit of operating entities;

     (f) prepare financial analysis on recovery alternatives to
         all stakeholders;

     (g) meet with creditors and other stakeholders;

     (h) assist in evaluating post-petition cash requirements for
         the Debtors;

     (i) assist in creditor negotiations; and

     (j) assist in the development and negotiation of a plan of
         reorganization.

The firm's professionals and their hourly rates are:

     Senior Managing Director          $900 - $950
     Managing Director/Sr. Advisor     $700 - $900
     Director                          $600 - $700
     Vice-President                    $500 - $600
     Associate                         $350 - $500
     Analyst                           $250 - $350

David Prager, managing director of Goldin Associates, disclosed
in a court filing that the firm is a "disinterested person" as
defined in section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     David W. Prager
     Goldin Associates, LLC
     350 Fifth Avenue
     The Empire State Building
     New York, New York 10118
     Phone: (212) 593-2255
     Fax: (212) 888-2841

                   About China Fishery Group

China Fishery Group Limited (Cayman) and its affiliates sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. S. D.
N.Y. Case No. 16-11895) on June 30, 2016.  The petition was
signed by Ng Puay Yee, chief executive officer.

The case is assigned to Judge James L. Garrity Jr.

At the time of the filing, the Debtor estimated its assets at
$500 million to $1 billion and debts at $10 million to $50
million.


CHINA FISHERY: Taps RSR Consulting as Restructuring Consultant
--------------------------------------------------------------
China Fishery Group Limited (Cayman) seeks approval from the U.S.
Bankruptcy Court for the Southern District of New York to hire
RSR Consulting LLC as restructuring consultant.

The firm will provide these services in connection with the
Chapter 11 cases of China Fishery and its affiliates:

     (a) act as a liaison and coordinate information flow and
         efforts among the management, financial advisors,
         creditors and their advisors, and the U.S. Trustee's
         office

     (b) assist the management in the coordination and production
         of information;

     (c) attend court hearings and Section 341 meetings with
         creditors, if required;

     (d) assist the Debtors in the preparation of periodic
         reporting packages that may be required for their
         creditors;

     (e) provide expert testimony, if required; and

     (f) review restructuring alternatives and projections
         provided by the Debtors' professionals in connection
         with putting forth plans to the constituents and the
         court.

The hourly rate for the firm's managing directors is $390 while
the hourly rate for its managers and consultants ranges from $250
to $375.

Robert Rosenfeld, a member of RSR Consulting, disclosed in a
court filing that the firm is a "disinterested person" as defined
in section 101(14) of the Bankruptcy Code.

The firm can be reached through:

     Robert Rosenfeld
     RSR Consulting LLC
     1330 Avenue of the Americas, Suite 23A
     New York, New York 10019
     Phone: (212) 658-0300
     Fax: (212) 658-0347

                   About China Fishery Group

China Fishery Group Limited (Cayman) and its affiliates sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. S. D.
N.Y. Case No. 16-11895) on June 30, 2016.  The petition was
signed by Ng Puay Yee, chief executive officer.

The case is assigned to Judge James L. Garrity Jr.

At the time of the filing, the Debtor estimated its assets at
$500 million to $1 billion and debts at $10 million to $50
million.


CHINA FISHERY: Seeks to Hire Meyer Suozzi as Legal Counsel
----------------------------------------------------------
China Fishery Group Limited (Cayman) seeks approval from the U.S.
Bankruptcy Court for the Southern District of New York to hire
Meyer, Suozzi, English & Klein, P.C. as its legal counsel.

The firm will provide these services in connection with the
Chapter 11 cases of China Fishery and its affiliates:

     (a) advising the Debtors about their powers and
         Duties and the conduct of the cases;

     (b) attending meetings and negotiating with representatives
         of creditors and other parties;

     (c) advising the Debtors with respect to actions necessary
         to protect their estates;

     (d) preparing legal papers;

     (e) representing the Debtors in connection with obtaining
         any required authorization to use cash collateral and
         post-petition financing;

     (f) advising the Debtors in connection with any potential
         sales of assets;

     (g) appearing before the court; and

     (h) taking any necessary action on behalf of the Debtors to
         negotiate, prepare and obtain approval of a disclosure

         statement and confirmation of a chapter 11 plan.

The firm's professionals and their hourly rates are:

     Partners              $250 - $550
     Of Counsel            $275 - $550
     Associates            $200 - $400
     Paraprofessionals     $100 - $135

Thomas Slome, Esq., at Meyer, disclosed in a court filing that
the firm is a "disinterested person" as defined in section
101(14) of the Bankruptcy Code.

In response to the request for additional information set forth
in Paragraph D.1 of the U.S. Trustee Guidelines, Meyer disclosed
that the firm and the Debtors have not agreed to any variations
from, or alternatives to, its standard billing arrangements for
the engagement.

Meyer further disclosed that the firm and the Debtors expect to
develop a prospective budget and staffing plan.

The firm can be reached through:

     Howard B. Kleinberg, Esq.
     Edward J. LoBello, Esq.
     Jil Mazer-Marino, Esq.
     Meyer, Suozzi, English & Klein, P.C.
     1350 Broadway, Suite 501
     New York, NY 10018
     Tel: (212) 239-4999
     Email: hkleinberg@msek.com
     Email: elobello@msek.com
     Email: jmazermarino@msek.com

                   About China Fishery Group

China Fishery Group Limited (Cayman) and its affiliates sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. S. D.
N.Y. Case No. 16-11895) on June 30, 2016.  The petition was
signed by Ng Puay Yee, chief executive officer.

The case is assigned to Judge James L. Garrity Jr.

At the time of the filing, the Debtor estimated its assets at
$500 million to $1 billion and debts at $10 million to $50
million.



BECA MACRO: Shareholders' Final Meeting Set for Sept. 30
--------------------------------------------------------
The shareholders of Beca Macro Commodities Fund will hold their
final meeting on Sept. 30, 2016, at 10:00 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

         Kristoffer Huldt
         IFIT Fund Services AG
         Voltastrasse 61
         P.O. Box 2520 CH-8033 Zurich
         Telephone: +41 44 366 4016
         Facsimile: +41 44 366 4039


EDANVI MANAGEMENT: Shareholders' Final Meeting Set for Aug. 15
--------------------------------------------------------------
The shareholders of Edanvi Management Inc. will hold their final
meeting on Aug. 15, 2016, at 12:00 noon, to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

          Morval Bank & Trust Cayman Ltd.
          Telephone: 1 (345) 949-9808
          P.O. Box 30622 Grand Cayman KY1-1203
          Cayman Islands


FUTURE LTD: Shareholders' Final Meeting Set for Aug. 15
-------------------------------------------------------
The shareholders of The Future Ltd. will hold their final meeting
on Aug. 15, 2016, at 12:00 noon, to receive the liquidator's
report on the company's wind-up proceedings and property disposal.

The company's liquidator is:

          Morval Bank & Trust Cayman Ltd.
          Telephone: 1 (345) 949-9808
          P.O. Box 30622 Grand Cayman KY1-1203
          Cayman Islands


GREENHILL CAPITAL: Shareholders' Final Meeting Set for Aug. 11
--------------------------------------------------------------
The shareholders of Greenhill Capital Management Inc. will hold
their final meeting on Aug. 11, 2016, at 10:00 a.m., to receive
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

          Adam Montanios
          c/o Diagoras House
          P.O. Box 25001
          CY-1306 Nicosia
          Cyprus
          Telephone: + 357 22 660 766


GRP NOMINEE: Shareholders' Final Meeting Set for Aug. 19
--------------------------------------------------------
The shareholders of GRP Nominee Co. will hold their final meeting
on Aug. 19, 2016, at 10:00 a.m., to receive the liquidator's
report on the company's wind-up proceedings and property disposal.

The company's liquidator is:

          Brijesh Kalaria
          The Blackstone Group
          345 Park Avenue
          31st Floor
          New York
          New York 10154
          United States of America
          Telephone: +1 (212) 390 2819


TOPAZ PROPERTIES: Shareholders' Final Meeting Set for Aug. 10
-------------------------------------------------------------
The shareholders of Topaz Properties Limited will hold their final
meeting on Aug. 10, 2016, at 10:00 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

          Caroline Riou
          c/o Wardour Management Services Limited
          P.O. Box 10147, Grand Cayman KY1-1002
          Cayman Islands
          Telephone: (345) 945-3301
          Facsimile: (345) 945-3302


UC BACCHUS: Shareholders' Final Meeting Set for Aug. 11
-------------------------------------------------------
The shareholders of UC Stiletto, Ltd. will hold their final
meeting on Aug. 11, 2016, at 10:30 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

          Walkers Liquidations Limited
          Cayman Corporate Centre
          27 Hospital Road, George Town
          Grand Cayman KY1-9008
          Cayman Islands
          Telephone: +1 (345) 949 0100


UC STILETTO: Shareholders' Final Meeting Set for Aug. 11
--------------------------------------------------------
The shareholders of UC Stiletto, Ltd. will hold their final
meeting on Aug. 11, 2016, at 10:40 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

          Walkers Liquidations Limited
          Cayman Corporate Centre
          27 Hospital Road, George Town
          Grand Cayman KY1-9008
          Cayman Islands
          Telephone: +1 (345) 949 0100


UC UNIVERSE: Shareholders' Final Meeting Set for Aug. 11
--------------------------------------------------------
The shareholders of UC Universe, Ltd. will hold their final
meeting on Aug. 11, 2016, at 10:20 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

          Walkers Liquidations Limited
          Cayman Corporate Centre
          27 Hospital Road, George Town
          Grand Cayman KY1-9008
          Cayman Islands
          Telephone: +1 (345) 949 0100


VSK (CPO): Shareholders' Final Meeting Set for Sept. 5
------------------------------------------------------
The shareholders of VSK (CPO) Limited will hold their final
meeting on Sept. 5, 2016, at 9:00 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

          Darren Riley
          c/o Summit Management Limited
          Suite # 4-210
          Governors Square
          23 Lime Tree Bay Avenue
          P.O. Box 32311 Grand Cayman, KY1-1209
          Cayman Islands


WILLOW INVESTMENT: Shareholders' Final Meeting Set for Aug. 15
--------------------------------------------------------------
The shareholders of Willow Investment Company will hold their
final meeting on Aug. 15, 2016, at 12:00 noon, to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

          Morval Bank & Trust Cayman Ltd.
          Telephone: 1 (345) 949-9808
          P.O. Box 30622 Grand Cayman KY1-1203
          Cayman Islands



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


DOMINICAN REPUBLIC: West Region Groups Oppose Proposed Mining
-------------------------------------------------------------
Dominican Today reports that a group of 27 organizations on
announced their determination to prevent mining, which they affirm
outsiders are promoting in the area next to their communities.

The agricultural, environmental and neighborhood associations, as
well as producers social organizations of rural women, and
farmers, say the exploitation has been announced for the village
Matadero (west), and gathered to state their opposition with the
province's stakeholders in the town of Guanito, according to
Dominican Today.

The report notes that the conference, called by Women Farmers of
El Llano (FEMUCALLA), the National Confederation of Rural Women
(CONAMUCA) and Engineers without Borders (ISF), was attended by
grassroots groups and producers, neighborhood boards,
environmental associations, government officials, NGOs, churches,
professional and personalities of the province.

As reported in the Troubled Company Reporter-Latin America on
July 1, 2016, Moody's Investors Service has changed the outlook on
the Dominican Republic's long term issuer and debt ratings to
positive from stable. The ratings have been affirmed at B1.



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


JAMAICA: Looks to the East to Boost Cruise Tourism Sector
---------------------------------------------------------
Caribbean360.com reports that countries all over the world,
including in the Caribbean, get a lot from China, whether directly
or indirectly.  But while clothing and consumer goods are what
they usually look to the Asian country for, Jamaica is going after
something more, according to Caribbean360.com.

Minister of Tourism Edmund Bartlett said the Government will be
looking to the Chinese market to help score a boost in earnings
from the cruise ship sector by 2021, the report notes.

"In September I am going to China, and we are going to talk about
the possibility of having Chinese cruise emanating from within our
area and going into the rest of the Caribbean," the report quoted
Mr. Bartlett as saying.

"That would enable us to look at other ports," Mr. Bartlett added.

The report relays that Mr. Bartlett made the disclosure following
a tour of development projects in Falmouth.

Noting that the Falmouth Pier is being earmarked as the
centrepiece for growth within the cruise shipping subsector, he
said Government is projecting J$5 billion (US$39.5 million) in
earnings from five million cruise ship passengers stopping in the
island by 2021, the report notes.

"We want to see Falmouth grow to 1.5 million visitors over that
period of time, because it has the capacity," Mr. Bartlett noted.

The projected growth in the tourism industry should result in more
than 120,000 people being directly employed and another 300,000
people from induced employment, Mr. Bartlett said, the report
adds.

                              *     *     *

As reported in the Troubled Company Reporter-Latin America on
Feb. 15, 2016, Fitch Ratings has upgraded Jamaica's Long-term
foreign and local currency IDRs to 'B' from 'B-' and revised the
Rating Outlooks to Stable from Positive.  In addition, Fitch
upgraded Jamaica's senior unsecured Foreign- and Local-Currency
bonds to 'B' from 'B-'.  The Country Ceiling has been affirmed at
'B' and the Short- Term Foreign-Currency IDR affirmed at 'B'.



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


FINANCIERA BEPENSA: Moody's Withdraws B2 Corporate Family Rating
---------------------------------------------------------------
Moody's de Mexico withdrawn all ratings assigned to Financiera
Bepensa S.A. de C.V. SOFOM E.N.R.'s (Financiera Bepensa). The
ratings withdrawn include Financiera Bepensa's long-term global
local currency corporate family rating of B2, long- and short-term
global local currency issuer ratings of B2/Not Prime as well as
long- and short-term Mexican National Scale issuer ratings of
Ba1.mx/MX-4. Financiera Bepensa's stable outlook has also been
withdrawn.

RATINGS RATIONALE

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

LIST OF RATINGS AFFECTED

The following ratings of Financiera Bepensa S.A. de C.V. SOFOM
E.N.R. were withdrawn:

Long-term global local currency corporate family rating of B2

Long-term global local currency issuer rating of B2

Short-term global local currency issuer rating of Not Prime

Long-term Mexican National Scale issuer rating of Ba1.mx

Short-term Mexican National Scale issuer rating of MX-4


The period of time covered in the financial information used to
determine Financiera Bepensa's ratings is between 01/01/2011 and
09/30/2015 (source: Moody's and issuer's annual audited and
quarterly unaudited financial statements).



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


AEROPOSTALE INC: Sycamore Rift Goes to Trial as Vote Proceeds
-------------------------------------------------------------
Tiffany Kary, writing for Bloomberg News, reported that a judge
said that teen clothing chain Aeropostale Inc. can ask creditors
to vote on its reorganization plan while also gearing up for a
trial over whether a key creditor drove the company into
bankruptcy to snap it up on the cheap.

According to the report, U.S. Bankruptcy Judge Sean Lane in
Manhattan said that he's "inclined to approve" the company's
disclosure statement, which explains how the plan would work, so
creditors can vote on whether to approve it.  After criticizing
the
plan's lack of information about how much some creditors, such as
mall landlords, stand to recover, the judge said the timeline
should be changed so they can find out the results of an Aug. 22
asset auction before voting.

"It's not perfect," Judge Lane said, but he called the plan the
best the company could do given the deadlines imposed by lenders
and Aeropostale's failure so far to announce a lead bidder for its
assets.  He asked that the New York-based company file a
"supplement" to the plan to let creditors known when they can
expect to find out how the auction is going.

The retailer has asked Judge Lane to disqualify New York-based
private equity firm Sycamore Partners from using its $150 million
debt to bid at the auction, the report said.  A trial on
Aeropostale's complaint is set for Aug. 15, the report added.

                       About Aeropostale, Inc.

Aeropostale, Inc. (OTC Pink: AROPQ) is a specialty retailer of
casual apparel and accessories, principally serving young women
and men through its Aeropostale(R) and Aeropostale Factory(TM)
stores and website and 4 to 12 year-olds through its P.S. from
Aeropostale stores and website.  The Company provides customers
with a focused selection of high quality fashion and fashion basic
merchandise at compelling values in an exciting and customer
friendly store environment.  Aeropostale maintains control over
its proprietary brands by designing, sourcing, marketing and
selling all of its own merchandise.  As of May 1, 2016 the Company
operated 739 Aeropostale(R) stores in 50 states and Puerto Rico,
41 Aeropostale stores in Canada and 25 P.S. from Aeropostale(R)
stores in 12 states.  In addition, pursuant to various licensing
agreements, the Company's licensees currently operate 322
Aeropostale(R) and P.S. from Aeropostale(R) locations in the
Middle East, Asia, Europe, and Latin America.  Since November
2012, Aeropostale, Inc. has operated GoJane.com, an online women's
fashion footwear and apparel retailer.

Aeropostale, Inc. and 10 of its affiliates each filed a voluntary
petition under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y.
Lead Case No. 16-11275) on May 4, 2016.  The petitions were signed
by Marc G. Schuback as senior vice president, general counsel and
secretary.

The Debtors listed total assets of $354.38 million and total debts
of $390.02 million as of Jan. 30, 2016.

The Debtors have hired Weil, Gotshal & Manges LLP as counsel; FTI
Consulting, Inc. as restructuring advisor; Stifel, Nicolaus &
Company, Inc. and Miller Buckfire & Company LLC as investment
bankers; RCS Real Estate Advisors as real estate advisors;  Prime
Clerk LLC as claims and noticing agent; Stikeman Elliot LLP as
Canadian counsel; and Togut, Segal & Segal LLP as conflicts
counsel.

Judge Sean H. Lane is assigned to the cases.

The U.S. trustee for Region 2 on May 11 appointed seven creditors
of Aeropostale Inc. to serve on the official committee of
unsecured creditors.  The Committee hired Pachulski Stang Ziehl &
Jones LLP as counsel.


FANTASY JEWELRY: Hires Monge Robertin as Insolvency Advisor
-----------------------------------------------------------
Fantasy Jewelry Trading Inc., seeks permission from the U.S.
Bankruptcy Court for the District of Puerto Rico to employ Monge
Robertin & Asociados, Inc., as insolvency and restructuring
advisor for the Debtor.

The Debtor requires Monge Robertin to:

     1. evaluate financial condition of the company to assist in
        the development of the reorganization plan;

     2. review schedules and statement of financial affairs as may
        be necessary for amendments and for the development of the
        plan;

     3. prepare cash flow projections as may be necessary for the
        Initial Debtor Interview, use of Cash Collateral and to
        Demonstrate feasibility of the proposed plan of
        reorganization;

     4. prepare the Summary of Claims and Plan Payments to control
        scheduled amounts, claims filed, objections, allowable
        amounts, payments during the pendency of the case, and
        deferred payments under the plan;

     5. reconcile claims with Claims Register and classify claims
        accordance with the Code;

     6. assist the Debtor to develop the plan of reorganization
        including changes in the capital structure and financing
        to boost revenue volume, reduce operating costs, dispose
        of unnecessary assets and recover receivables;

     7. assist counsel to develop drafts on the Disclosure
        Statement and plan;

     8. prepare liquidation analysis with notes;

     9. review tax and other proof of claims to recommend and
        support claim objections;

    10. assist the Debtor in preparation of monthly operation
        reports (MORS) required by the guidelines of the Office of
        the US Trustee;

    11. assist the Debtor to determine UST fees fro payment in
        accordance with current fee tables;

    12. review existing accounting systems and procedures to
        provide recommendations for improvement;

    13. review valuations of property and equipment;

    14. review insurance policies and coverages and compliance
        with UST Guidelines;

    15. review data processing systems and procedures to improve
        security and efficiency of operations;

    16. review tax compliance and tax attributes to assist the
        Debtor in obtaining the full benefits permitted by law in
        relation to tax losses and non taxable adjustments of
        claims;

    17. prepare prior year or current tax returns, if necessary;

    18. prepare of feasibility report for confirmation of the
        Plan;

    19. provide testimony, if necessary on feasibility or any
        other matter of expertise;

    20. assist to obtain additional capital contributions or DIP
        financing;

    21. assist counsel the compilation of 1129 statement data;

    22. assist the Debtor in preparation of Quarterly Operating
        Reports from confirmation date to final decree;

    23. assist legal counsel in any adversary proceedings that may
        arise in the course of the reorganization that may require
        financial and accounting support or testimony;

    24. assist legal counsel and the Debtor in any negotiations
        with creditors or post-petition equity funding or
        financing;

    25. review insurance coverage and expenses;

    26. other financial management, and/or operations consulting
        to improve financial conditions;

    27. investigate any fraud or abuse suspected in the Debtor's
        operations;

    28. assist counsel and the Debtor to organize dockets, proof
        of claims and other documents to reduce electronic filing
        costs and provide efficient access to documents;

    29. assist the Debtor to establish digital filing system to
        reduce filing costs and facilitate remote access for the
        Estate, counsel and financial advisors;

    30. assist counsel to draft or review motions and answers to
        objections that involve financial and tax matters;

    31. prepare Substantial Consummation Report for counsel to
        request Final Decree; and

    32. any other support requested by counsel or the Debtor that
        is necessary for the benefit of the estate.

Monge will be paid at these hourly rates:

    Jose M. Monge Robertin, CPA, CIRA, CGMA                $275
    Other CPAs pending CIRA Certification                  $180
    Maria Pena, CIRA, MST-Reorganization Associate         $175
    Edgar Rivera Arroyo, BS-Systems Associate              $150
    Juanita Claudio, MBA-Tax Associate                     $125
    Melissa Claudio - Accountant Associate                  $85
    Support Staff                                           $65
    Accounting Assistants                                   $35

Jose M. Monge Robertin, CPA, CIRA, CGMA of Monge Robertin &
Asociados, Inc., assured the Court that the firm is a
"disinterested person" as the term is defined in Section 101(14)
of the Bankruptcy Code and does not represent any interest adverse
to the Debtors and their estates.

Monge may be reached at:

      Jose M. Monge Robertin
      Monge Robertin & Asociados, Inc.
      97 Acosta Street
      Caguas, Puerto Rico 00725
      Tel: (787)745-0707
      Fax: (787)746-3895

               About Fantasy Jewelry

Fantasy Jewelry Trading Inc. filed a Chapter 11 bankruptcy
petition (Bankr. D.P.R. Case No. 15-09021) on November 13, 2015.
Paul James Hammer, Esq., at Estrella, LLC as bankruptcy counsel.


JOYUDA SEA FOOD: Hires Acevedo as Accountant
--------------------------------------------
Joyuda Sea Food, Inc., seeks authority from the U.S. Bankruptcy
Court for the District of Puerto Rico to employ Heriberto Reguero
Acevedo as accountant to the Debtor.

Joyuda Sea Food requires Acevedo to:

   a. provide assistance to the Debtor in preparing the Monthly
      Reports of Operation;

   b. prepare the necessary financial statements;

   c. assist Debtor in preparing the cash flow projections and or
      any other projection needed for the Disclosure Statement;

   d. assist Debtor in any/all financial and accounting
      pertaining to, or in connection with the administration of
      the estate;

   e. assist Debtor in the preparation and filing of federal,
      state and municipal tax returns; and

   f. assist Debtor in any other assignment that might be
      properly delegated by management.

Acevedo will be paid at these hourly rates:

     Heriberto Reguero Acevedo       $150
     Associates                      $75

Acevedo will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Heriberto Reguero Acevedo, CPA, assured the Court that the firm is
a "disinterested person" as the term is defined in Section 101(14)
of the Bankruptcy Code and does not represent any interest adverse
to the Debtors and their estates.

Acevedo can be reached at:

     Heriberto Reguero Acevedo
     105 Ave. Borinquen Base Ramey,
     Aguadilla, PR 00603
     Tel: (787) 890-3980
     Email: heribereg@aol.com

                      About Joyuda Sea Food

Joyuda Sea Food Inc., filed a Chapter 11 bankruptcy petition
(Bankr. D.P.R. Case No. 16-03770) on May 10, 2016. The Debtor is
represented by Gloria Justiniano Irizarry, Esq.


KOMODIDAD DISTRIBUTORS: Hires Vallejo as Real Estate Appraiser
--------------------------------------------------------------
Komodidad Distributors, Inc., et al., seek authority from the U.S.
Bankruptcy Court for the District of Puerto Rico to employ Vallejo
& Vallejo as real estate appraiser to the Debtors.

Komodidad Distributors requires Vallejo to:

-- appraise the Six Commercial Properties, Two Residential Condo
    Unit, One Mixed use property in Caguas and One Commercial
    Property in San Juan for a total of ten (10) real properties;

-- appear in court and attorney/appraiser meetings should they
    be necessary.

Vallejo will be paid at these hourly rates:

     Jorge Vallejo            $250

Vallejo will be paid a retainer in the amount of $24,375, of which
$12,187.50 and applicable taxes will be payable upon authorization
of the retainer, and the remaining $12,187.50 and applicable taxes
will be payable upon delivery of the completed appraisals.

Jorge Vallejo, licensed real estate appraiser of Vallejo &
Vallejo, assured the Court that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the
Bankruptcy Code and does not represent any interest adverse to the
Debtors and their estates.

Vallejo can be reached at:

     Jorge Vallejo
     VALLEJO & VALLEJO
     Santa Ana Building
     No. 1610 Ponce de Leon Avenue
     Santurce, PR 00909
     Tel: (787) 723-2121
     Fax: (787) 724-3949
     E-mail: jivallejo@vallejopr.com

                     About Komodidad Distributors

Komodidad Distributors, Inc., filed for Chapter 11 bankruptcy
protection (Bankr. D.P.R. Case No. 16-04161) on May 25, 2016.  The
petition was signed by Jorge Galliano, president.  The Hon.
Enrique S. Lamoutte Inclan presides over the case.  The Debtor
estimated assets of $50 million to $100 million and estimated
debts of $10 million to $50 million.

Komodidad Distributors' Chapter 11 case is jointly administered
with those of G.A. Design & Sourcing, Inc., GMAXPORT, Inc., G.A.
Investors, S.E., and G.A. Property Development, Corp., under
(Bankr. D.P.R. Case No. 16-04164).


SPORTS AUTHORITY: Top Executive Bonuses Draw Fire
-------------------------------------------------
Peg Brickley, writing for The Wall Street Journal Pro Bankruptcy,
reported that Sports Authority's creditors and the Justice
Department have challenged the fading retailer's plans to pay top
executives as much as $2.85 million in bankruptcy bonuses.

According to the report, as the liquidation entered its final
weeks, Sports Authority unveiled plans for bonuses to four top
executives, people the company doesn't want to name.

U.S. Trustee Andrew Vara, a Justice Department bankruptcy
watchdog, and lawyers for the official committee of unsecured
creditors protested the bonuses and the secrecy surrounding the
rewards to top executives, the report related.

"The debtors are seeking to allow payment of compensation, outside
of the ordinary course of business, of a substantial amount of
money, to a very few, select, insider executives," the report
said, citing Mr. Vara's lawyer.

The bonus money is needed to encourage the executives to do their
best in the company's final days, the report said, citing Sports
Authority's lawyers.  Confidentiality is appropriate to protect
morale, and prevent competitors from using the pay data to lure
Sports Authority's leaders away, the company contends, the report
related.

Unsecured creditors called Sports Authority's argument about the
need to protect morale "ridiculous," the Journal further related.
Liquidators, not top management, are running the final effort to
get dollars in the doors, the report said, citing creditor lawyers
in papers filed with the U.S. Bankruptcy Court in Wilmington, Del.

                 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.  Lawyers at Pachulski
Stang Ziehl & Jones LLP represent the Official Committee of
Unsecured Creditors.



=================
V E N E Z U E L A
=================


VENEZUELA: IMF Executive Board Holds Informal Briefing
------------------------------------------------------
On July 25, 2016, the Executive Board of the International
Monetary Fund (IMF) was briefed by staff on economic developments
in Venezuela, whose Article IV consultation is delayed by 127
months.

Informal sessions to brief the Board based on information
available are held approximately every 12 months for members whose
Article IV consultations are delayed by more than 18 months.

For more information, one may visit https://is.gd/Zvfq1J

As reported in the Troubled Company Reporter-Latin America on
July 5, 2016, Fitch Ratings affirmed Venezuela's Long-Term
Foreign-and Local-Currency Issuer Default Ratings (LT FC/LC IDR)
at 'CCC'. Fitch has also affirmed the sovereign's Short-Term
Foreign Currency (ST FC) IDR at 'C' and country ceiling at 'CCC'.


                            ***********


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 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.


                   * * * End of Transmission * * *