TCRLA_Public/160803.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, August 3, 2016, Vol. 17, No. 152


                            Headlines



A R G E N T I N A

CAPEX SA: Fitch Affirms 'B' LT Foreign Curr. Issuer Default Rating


B R A Z I L

OI SA: Brazil Activist Investor Seeks Meeting on Firm and Pharol


C A Y M A N  I S L A N D S

APTINA INC: Shareholders' Final Meeting Set for Aug. 11
HARRISON CORPORATION: Shareholders' Final Meeting Set for Aug. 11

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

P U E R T O    R I C O

AUGUSTOS CUISINE: Disclosures Okayed, Aug. 16 Plan Hearing Set
BALTAZAR ANTONIO: Hearing on Disclosure Statement Set for Aug. 24
ELBARDI INT'L PLA: Taps Correa as Legal Counsel
FARMACIA FREDDY: U.S. Trustee Ordered to Appoint PCO
FARMACIA SAN JUSTO: U.S. Trustee to Appoint Patient Care Ombudsman

MARJASU CORP: Hires Jose Figueroa as Accountant
MOTEL TROPICAL: Court to Take Up Plan Outline on August 24
OFFICE EXPRESS: Hires Jose Luis Rentas as Accountant
ROBERTO SEBELEN MEDINA: Court to Take Up Plan Outline on Aug. 24
TYL INVESTMENT: Names Luis Flores Gonzalez as Legal Counsel

WESTERN HIPERBARIC: Hires Heriberto Acevedo as Accountant


T R I N I D A D  &  T O B A G O

TRINIDAD & TOBAGO: Liquidity Falls, Central Bank Says
TRINIDAD & TOBAGO: Centrica plc Wants Out of Country


V E N E Z U E L A

GUARDIAN INDUSTRIES: Venezuela Seizes Control of Operations


                            - - - - -


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A R G E N T I N A
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CAPEX SA: Fitch Affirms 'B' LT Foreign Curr. Issuer Default Rating
------------------------------------------------------------------
Fitch Ratings has taken these rating actions for Capex S.A.:

   -- Long-Term Foreign Currency (LT FC) Issuer Default Rating
      affirmed at 'B';

   -- Long-Term Local Currency (LT LC) IDR upgraded to 'B+' from
      'B'.

The Outlook is Stable.

Fitch has also affirmed the 'B/RR4' long-term rating for Capex's
senior unsecured notes due 2018.  The 'RR4' rating for the
outstanding notes reflects an average expected recovery given
default and is in line with the RR soft cap established for
Argentina.

The upgrade of the company's LC IDR reflects the recent regulatory
changes resulting in more favorable prices for electricity and
natural gas and the company's deleveraging trajectory, which Fitch
expects to continue.  The LC IDR rating action also reflects
recent end-users' tariff increases aimed at reducing the
electricity sector financial deficit.

                         KEY RATING DRIVERS

Capex's ratings reflect the high regulatory risks associated with
operating in the electricity sector in Argentina, which is
improving as a result of the recent regulatory changes, foreign
currency (FX) exposure (currency mismatch between peso-denominated
cash flows and dollar-denominated debt), and the long-term need to
pursue a robust capital expenditure plan to sustain the company's
vertically integrated business model.  Positively, in the last
three fiscal years, Capex has seen slightly constructive
regulatory moves by the Argentine government in the gas and
electricity sectors.  Such ransformative reforms are needed in the
Argentine electricity sector; otherwise the long-term financial
viability of the sector remains uncertain.

Capex's 'B' LT FC IDR is constrained by the 'B' country ceiling of
the Republic of Argentina (Fitch LC and FC IDRs of 'B').  Fitch's
country ceiling of 'B' limits the FC rating of most Argentine
corporates.  Country Ceilings are designed to reflect the risks
associated with sovereigns placing restrictions upon private
sector corporates, which may prevent them from converting local
currency to any foreign currency under a stress scenario, and/or
may not allow the transfer of FC abroad to service FC debt
obligations.  Since taking power in December 2015, the Mauricio
Macri administration removed FX controls introduced in 2011 and
increased the flexibility of the Argentine peso, which should
contribute to improving the capacity of the economy to absorb
external shocks and relieve pressure on international reserves.

                        HIGH REGULATORY RISK

Capex's ratings reflect high regulatory risk given strong
government influence in both the Electric/Utilities and Energy
sectors.  Capex operates in highly strategic sectors where the
government both has a role as the price/tariff regulator and also
controls subsidies for industry players.  Electricity and gas
prices remain sub-optimal compared with other countries in the
region despite recent marked increases in tariffs for end-users of
between 200% and 300%.  The deficit between electricity tariffs
and industry costs is funded through subsidies, which are
dependent on public funding.  In the electricity sector, Capex
depends on payments from government agency Compania Administradora
del Mercado Mayorista Electrico S.A. (CAMMESA).  Payments from
CAMMESA can be volatile given that this agency depends on the
national government for funds to make these payments.  Electricity
subsidies and transfers have increased to approximately ARS140
billion in 2015 from ARS1.18 billion in 2005.  The government has
implemented changes in tariffs for the past few years.  With the
most recent tariff revision, the government aims to save USD4
billion per year.

                SLIGHTLY POSITIVE REGULATORY CHANGES

Fitch believes the recent resolutions implemented by the new
government reflect a trend of less government interference and
discretion in the power generation sector.  Capex has benefited
from recent positive regulatory rulings in both the Oil & Gas and
Electricity sectors.

In the Oil & Gas sector, the government stimulus plans to increase
natural gas has resulted in increased tariffs.  Currently, two
price schemes for natural gas coexist: Res SEN 24/08 and Res
41/16.  Under the Gas Plus program (Res SEN 24/08), upstream
companies receive a base price for output along a base gas-
production curve, and committed gas production in excess of this
is remunerated at USD4.5/MMBTU-USD7.5/MMBTU.  The benefits of the
program are already tangible for Capex.  For the fiscal year ended
(FYE) April 2016, the company received approximately ARS257
million (USD23 million) related to the government stimulus plan
resulting in a year-to-year increase of 78% in USD terms.  Under a
recently introduced scheme (Res 41/16), the government increased
the prices for natural gas destined for power generation.  For the
Neuquen basin where the company operates, the increase was 106% to
USD5.5/mmbtu.  Both schemes are in place until the end of 2017.

In the electricity sector, during the last three years, the
government has adjusted the remuneration scheme for GenCos
operating under Res SEN 95/13, which has assisted the company in
improving its financial performance.  Furthermore, the
remuneration scheme was revised in February 2016 (Res 22/16) to
improve the remuneration conditions of the GenCos selling at spot.
This new revision adjusts upwards the remuneration of fixed
expenses, nonrecurring O&M expenses, and variable costs (other
than gas).  Net-net, this new remuneration scheme would result in
a close to 50% increase in tariffs for Capex compared with the
previous year.

ADVANTAGEOUS VERTICAL INTEGRATION:
Capex is an integrated thermoelectric generation company whose
vertically integrated business model gives it an advantage over
other Argentine generation companies.  Capex benefits from
operating efficiencies as an integrated thermoelectric generating
company and from the flexibility of having its own natural gas
reserves to supply the plant.  This gives the company an advantage
against other players in the industry, especially given existing
gas restrictions in the country.  Capex's generating units are
efficient, and the proximity to its natural gas reserves in the
Agua del Cajon field coupled with gas transportation restrictions
from the Neuquen basin to the main consumption area in Buenos
Aires reduces the gas supply risk.

CAPITAL INVESTMENT NEEDS:
Fitch expects the company to invest approximately USD65 million in
capital expenditures during the next 12 months, with the vast
majority related to E&P in order to maintain reserves.  The
company reported proved reserves of 32 million barrels of oil
equivalent (mmboe) at year-end 2015 (approximately 92% natural gas
and 80% proved and developed), relatively flat compared with the
previous year.  Natural gas production remained relatively flat at
1.5 million cubic meters per day, with oil production increasing
approximately 17% year over year, but still remaining negligible.
Based on daily production of 9,560 BOE, the company's overall
reserve life is nine years.  The company's capex investment plan
remains crucial as part of the vertical integration strategy of
the company.

                       FINANCIAL IMPROVEMENT

In large part, due to the government's slightly improved
regulations, the company has recorded improving financial metrics.
On a dollar basis, for the FYE April 2016, Capex registered EBITDA
of USD92.8 million, which is 40% higher than the previous year
(USD66 million), mainly attributable to a higher volume of
hydrocarbon sales that resulted in higher revenues associated to
the natural gas stimulus plan, and higher natural gas prices.
EBITDA margins reached a historical high of 56%.  Fitch expects
the company's EBITDA generation to range between USD85-USD90
million with EBITDA margins similar to those observed during the
FYE April 2016.

                         KEY ASSUMPTIONS

Fitch's key assumptions within the rating case for Capex include:

   -- Consistent double-digit currency depreciation per year;
      inflation in ARS of 30% in 2016 decreasing to 17% by 2019
   -- Energy production to range between 3,800GWh/year and
      4,000GWh/year;
   -- Natural gas sales prices stabilizing at USD5.5 per million
      BTU;
   -- Overall, EBITDA to average approximately
      USD100 million/year;
   -- Leverage in the 2.0x-3.0x level during next three years.

                        RATING SENSITIVITIES

Capex's ratings could be negatively affected by a combination of
these:

   -- Argentina's credit quality deterioration;
   -- Given high dependence on the subsidies by CAMMESA from the
      Treasury, any further weakening of Argentina's fiscal
      accounts could have a negative impact on the company's
      collections/cash flow;
   -- A significant deterioration of credit metrics; and/or
   -- Sustained declines in gas reserves/production or failure to
      further develop new fields, which could threaten the
      integrated business model in the long-term.

An upgrade of Argentina's ratings and country ceilings may result
in a positive rating action.

                            LIQUIDITY

Solid Liquidity and Improved Leverage: As of April 2016, the
company's total debt was USD237 million, slightly lower than the
USD250 million reported in the FYE April 2015.  Capex's long-term
debt is primarily composed of a USD200 million long-term bond with
a March 2018 maturity date.  As of April 2016, the company
reported cash and equivalents totaling USD57 million versus short-
term debt of USD21 million, giving the company one of the
strongest liquidity profiles for Argentine corporates rated by
Fitch.  The company's leverage levels have steadily improved due
to the company's improved financial performance, as leverage
defined as Total Debt/EBITDA was 2.6x in 2016 vs. 3.8x in 2015 and
4.2x in 2013.  Fitch expects for leverage to remain in the 3.0x-
3.5x range for the next three years.

FULL LIST OF RATING ACTIONS

Fitch has taken these rating actions:

Capex S.A.
   -- Foreign currency IDR affirmed at 'B';
   -- Local currency IDR upgraded to 'B+' from 'B';
   -- International senior unsecured bond ratings affirmed at
      'B/RR4';

The Rating Outlook for the IDRs is Stable.



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B R A Z I L
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OI SA: Brazil Activist Investor Seeks Meeting on Firm and Pharol
----------------------------------------------------------------
Ana Mano at Reuters, citing a securities filing, reports that a
Brazilian activist investor with a stake in bankrupt telecom
provider Oi SA has requested a shareholders meeting to discuss its
allegations that the carrier's majority owner Pharol SGPS SA
committed improprieties.

Societe Mondiale, which holds 7 percent of Oi SA's voting shares,
proposed that the meeting be called in eight days, the filing
showed, according to Reuters.  Oi said in a statement its board
would analyse Societe's request, without giving a date for the
shareholders meeting, the report notes.

The activist, controlled by Brazilian businessman Nelson Tanure,
known for investing in companies in financial difficulty, acquired
a stake in Oi SA after it filed for bankruptcy protection in June.
Pharol remains the largest individual shareholder of Oi, with
27.49 of its voting shares, the report relays.

The report discloses that Societe Mondiale wants Oi's shareholders
to weigh a proposal to commence legal and arbitrage proceedings
against Pharol, formerly Portugal Telecom, and its wholly owned
Netherlands-based subsidiary Bratel BV, for committing what the
activist called "illegal acts" in managing Oi.

Pharol declined to comment on the matter.

The arbitrations would be aimed at collecting damages related to
the shareholder agreement between Oi SA and Portugal Telecom,
which involved "overvalued or unsubstantiated assets," including
BRL3.2 billion ($980 million) in defaulted debt instruments issued
by Rio Forte Investments SA and acquired by Portugal Telecom,
according to the securities filing, the report relays.

Tanure's vehicle will also propose annulling a March 2015
shareholders meeting approving Portugal Telecom's acquisition of a
majority stake in Oi through a share offering carried out in the
context of Oi SA's takeover by the Portuguese company, the report
notes.

In addition, the proposed claims would seek monetary damages from
former executives of Oi and Santander Brasil, which was
responsible for evaluating the assets involved in the merger,
according to the minority shareholder, the report says.

Societe claims the bank contributed "materially and decisively . .
. . to the damages suffered by Oi in the acquisition by Pharol of
the shares issued in the public offering," carried out as part of
the tie-up, according to the Friday securities filing, the report
relays.

Banco Santander refused to comment on affairs involving its
clients.

It was unclear whether the meeting Tanure was seeking would
actually occur in eight days, the report notes.  Last month,
another vote sought by the activist to propose changes in Oi SA's
board was delayed after the company asked the bankruptcy judge
overseeing its case to issue an opinion on the matter, the report
discloses.  That ruling is still pending.

                              About Oi SA

Headquartered in Rio de Janeiro, and operating almost exclusively
within Brazil, the Oi Group provides services like fixed-line data
transmission and network usage for phones, internet, and cable,
Wi-Fi hot-spots in public areas, and mobile phone and data
services, and employs approximately 142,000 direct and indirect
employees.

Ojas N. Shah filed a Chapter 15 petition for Oi S.A. (Bankr.
S.D.N.Y. Case No. 16-11791), Oi Movel S.A. (Bankr. S.D.N.Y. Case
No. 16-11792), Telemar Norte Leste S.A. (Bankr. S.D.N.Y. Case No.
16-11793), and Oi Brasil Holdings Cooperatief U.A. (Bankr.
S.D.N.Y. Case No. 16-11794) on June 21, 2016.  The case is
assigned to Judge Sean H. Lane.

The Chapter 15 Petitioner is represented by John K. Cunningham,
Esq., and Mark P. Franke, Esq., at White & Case LLP, in New York;
and Jason N. Zakia, Esq., Richard S. Kebrdle, Esq., and Laura L.
Femino, Esq., at White & Case LLP, in Miami, Florida.



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


APTINA INC: Shareholders' Final Meeting Set for Aug. 11
-------------------------------------------------------
The shareholders of Aptina, Inc. will hold their final meeting on
Aug. 11, 2016, at 10:50 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
          c/o Cayman Corporate Centre
          27 Hospital Road
          George Town
          Grand Cayman KY1-9008
          Cayman Islands
          Telephone: +1 (345) 949 0100


HARRISON CORPORATION: Shareholders' Final Meeting Set for Aug. 11
-----------------------------------------------------------------
The shareholders of Harrison Corporation 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:

          Robert C. Muffly
          299 Park Avenue
          New York
          NY 10171
          United States
          Telephone: (212) 888-3033



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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
Wednesday 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 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, the report notes.

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.



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P U E R T O    R I C O
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AUGUSTOS CUISINE: Disclosures Okayed, Aug. 16 Plan Hearing Set
--------------------------------------------------------------
The Hon. Enrique S. Lamoutte Inclan of the U.S. Bankruptcy Court
for the District of Puerto Rico has entered an order conditionally
approving the Disclosure Statement that Augustos Cuisine
Corporation filed on July 8, 2016.

The Court has set a hearing for Aug. 16, 2016, 10:00 a.m., on the
final approval of the disclosure statement (if a written objection
has been timely filed) and confirmation of the Chapter 11 plan.

Three days prior to the hearing is fixed as the last day for
filing written acceptances or rejections to the plan.  Three days
prior to the hearing is fixed as the last day for filing and
serving written objections to the disclosure statement and
confirmation of the plan.

Augusto's Cuisine Corporation filed for Chapter 11 bankruptcy
protection (Bankr. D. P.R. Case No. 15-09390) on Nov. 25, 2015.


BALTAZAR ANTONIO: Hearing on Disclosure Statement Set for Aug. 24
-----------------------------------------------------------------
The Hon. Mildred Caban Flores of the U.S. Bankruptcy Court for the
District of Puerto Rico has set a hearing for Aug. 24, 2016, at
9:00 a.m., to approve Baltazar Antonio Negron Soto's Disclosure
Statement explaining his Chapter 11 plan.

Objections to the form and content of the Disclosure Statement
should be in writing and filed with the Court and served upon
parties in interest at their address of record not less than 14
days prior to the hearing.

Baltazar Antonio Negron Soto filed for Chapter 11 bankruptcy
protection (Bankr. D. P.R. Case No. 14-08847) on Oct. 28, 2014.


ELBARDI INT'L PLA: Taps Correa as Legal Counsel
-----------------------------------------------
Elbardi International PLA, LLC seeks approval from the U.S.
Bankruptcy Court for the District of Puerto Rico to hire the Law
Firm of Correa Business Consulting Group, LLC as its legal
counsel.

The firm will provide these services in connection with the
Debtor's Chapter 11 case:

     (a) advise the Debtor regarding its duties and powers;

     (b) advise the Debtor in determining whether a reorganization

         is feasible or not;

     (c) assist the Debtor in negotiating with creditors to
         formulate a plan of reorganization or arrange for an
         orderly liquidation of its assets; and

     (d) prepare legal papers and appear before the bankruptcy
         court.

Luis Correa Gutierrez, Esq., the lawyer who will be providing the
services, will be paid $150 per hour.

In a court filing, Mr. Gutierrez disclosed that the firm does not
represent or hold any interest adverse to the Debtor or its
estate.

The firm can be reached through:

     Luis E. Correa Gutierrez, Esq.
     Correa Business Consulting Group, LLC
     Ext. Roosevelt, 468 Calle Arrigoit°a
     San Juan, PR 00918
     Tel: 787-373-1185
     Fax: 787-724-0353
     Email: lcorrea@correalawoffice.com

                About Elbardi International PLA

Elbardi International PLA, LLC sought protection under Chapter 11
of the Bankruptcy Code (Bankr. D.P.R. Case No. 16-03844) on May
13, 2016.


FARMACIA FREDDY: U.S. Trustee Ordered to Appoint PCO
----------------------------------------------------
U.S. Bankruptcy Judge Brian K. Tester ordered that the U.S.
Trustee to appoint a patient care ombudsman in the Chapter 11 case
of Farmacia Freddy Inc., unless the U.S. Trustee informs the Court
in writing why the appointment of an ombudsman is not necessary.

Farmacia Freddy Inc. filed a Chapter 11 bankruptcy petition
(Bankr. D.P.R. Case No. 16-03150) on April 21, 2016.  Jesus
Enrique Batista Sanchez, Esq., at The Batista Law Group, PSC,
represents the Debtor.


FARMACIA SAN JUSTO: U.S. Trustee to Appoint Patient Care Ombudsman
------------------------------------------------------------------
U.S. Bankruptcy Judge Enriquette S. Lamoutte ordered that the U.S.
Trustee to appoint a patient care ombudsman in the Chapter 11
case of Farmacia San Justo Inc., unless the U.S. Trustee informs
the Court in writing why the appointment of an ombudsman is not
necessary.

                     About Farmacia San Justo

Farmacia San Justo, Inc., based in Saint Just, PR, filed a Chapter
11 petition (Bankr. D.P.R. Case No. 16-05624) on July 14, 2016.
The petition was signed by Hector O.
Rodriguez, president.

The Debtor tapped Charles Alfred Cuprill, Esq., at Charles A
Cuprill, PSC Law Office, as bankruptcy counsel, and Luis R.
Carrasquillo & Co., P.S.C. as financial consultant.

In its petition, the Debtor estimated $0 to $1.30 million in both
assets and liabilities.


MARJASU CORP: Hires Jose Figueroa as Accountant
-----------------------------------------------
Marjasu Corp seeks authority from the U.S. Bankruptcy Court for
the District of Puerto Rico to employ Jose Alonso Figueroa as
accountant to the bankruptcy estate.

Marjasu Corp requires Figueroa to:

   a. review of accounting records for preparation of month and
      year end accounting and financial reports;

   b. prepare monthly reconciliations of all bank accounts;

   c. accumulate payroll transactions to produce quarterly and
      annual payroll tax returns;

   d. prepare liquidation analysis, financial projections, claim
      reconciliation and related financial documents as support
      for a plan of reorganization.

Mr. Figueroa will be paid $250 per month for his services

Mr. Figueroa assured the Court that his 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.

Figueroa can be reached at:

     Jose Alonso Figueroa
     200 Ave. Rafael Cordero
     Suite 140 PMB 460.00725
     Tel: (787) 638-3650

                       About Marjasu Corp

Marjasu Corp, filed a Chapter 11 bankruptcy petition (Bankr.
D.P.R. Case No. 14-07793) on September 22, 2014.


MOTEL TROPICAL: Court to Take Up Plan Outline on August 24
----------------------------------------------------------
The U.S. Bankruptcy Court for the District of Puerto Rico is set
to hold a hearing on August 24, at 9:00 a.m., to consider approval
of the disclosure statement detailing the Chapter 11 plan of
reorganization of Motel Tropical Inc.

The hearing will take place at Jose V. Toledo Federal Building and
U.S. Courthouse, Courtroom No. 1, Second Floor, 300 Recinto, Sur,
Old San Juan, Puerto Rico.  Objections must be filed not less than
14 days prior to the hearing.

Under Motel Tropical's proposed plan, general unsecured creditors
in Class 3 will receive 10% dividend payments from proceeds
generated from the operation of the company's motel business after
payment to priority and administrative expenses.

                      About Motel Tropical

Motel Tropical Inc. sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D.P.R. Case No. 16-00966) on February 11,
2016.  The Debtor is represented by Isabel M. Fullana, Esq., at
Garcia-Arregui & Fullanan PSC.

The Debtor manages a motel business located at Carr 2.KM 110.7
Ave. Militar, Isabel Puerto Rico. The property on which the Debtor
operates is leased to Manuel Gonzalez Valeting.


OFFICE EXPRESS: Hires Jose Luis Rentas as Accountant
----------------------------------------------------
Office Express Supply, Inc., seeks permission from the U.S.
Bankruptcy Court for the District of Puerto Rico to employ Jose
Luis Rentas as accountant.

The Debtor requires Jose Luis Rentas to prepare monthly reports,
prepare tax returns, prepare reports and analysis as required in
order to offer adequate disclosure to its creditors and attain
confirmation of a Chapter 11 plan of reorganization

Jose Luis Rentas will be paid $50 per hour for his services.

Mr. Renta assured the Court that his 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
Debtor and its estate.

Jose Luis Rentas may be reached at:

      Jose Luis Rentas
      URB La Vega
      23 Principal Street
      Villalba PR00766
      Tel: (787)847-2484

            About Office Express Supply, Inc.

Office Express Supply, Inc. filed a Chapter 11 bankruptcy petition
(Bankr. D.P.R. Case No. 16-05304) on July 1, 2016. Jorge R.
Collazo Sanchez, Esq., at Collazo Sanchez Law Office, serves as
bankruptcy counsel.


ROBERTO SEBELEN MEDINA: Court to Take Up Plan Outline on Aug. 24
----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Puerto Rico is set
to hold a hearing on August 24, at 9:00 a.m., to consider the
disclosure statement detailing the Chapter 11 plan of Roberto
Sebelen Medina and Betsie Marie Corujo Martinez.

The hearing will take place at the Jose V. Toledo Federal Building
and U.S. Courthouse, Courtroom No. 1, Second Floor, 300 Recinto,
Sur, Old San Juan, Puerto Rico.  Objections must be filed not less
than 14 days prior to the hearing.

                  About Roberto Sebelen Medina

Roberto Sebelen Medina and Betsie Marie Corujo Martinez sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. D. P.R.
Case No. 14-06368).  The case is assigned to Judge Brian K.
Tester.


TYL INVESTMENT: Names Luis Flores Gonzalez as Legal Counsel
-----------------------------------------------------------
Tyl Investment Corp. Inc. seeks authorization from the U.S.
Bankruptcy Court for the District of Puerto Rico to employ Law
Offices of Luis D. Flores Gonzalez as legal counsel.

The Debtor requires the firm to provide counseling and
representation in connection with the filing of the Schedules, the
Statement of Financial Affairs filed under Chapter 11, the payment
plan that will be proposed, the examinations of the claims filed,
the Disclosure Statement and other related matters.

The firm will be paid at these hourly rates:

       Luis Flores Gonzalez       $200
       Legal Assistant            $60
       Paraprofessional           $40

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

The firm received $5,000 in retainer.

Mr. Flores Gonzalez assured the Court that his 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.

The firm can be reached at:

       Mr. Luis D. Flores Gonzalez, Esq.
       THE LAW OFFICES OF LUIS D. FLORES GONZALEZ
       80 Georgetti Street, Suite 202
       Rio Pedras, PR 00925
       Tel: (787) 758-3606
       E-mail: ldf@coqui.net

Tyl Investment Corp Inc., filed a Chapter 11 bankruptcy petition
(Bankr. D.P.R. Case No. 16-04433) on June 1, 2016.  The Debtor is
represented by Luis D. Flores Gonzalez, Esq.


WESTERN HIPERBARIC: Hires Heriberto Acevedo as Accountant
---------------------------------------------------------
Western Hiperbaric Services, P.S.C. seeks authorization from the
U.S. Bankruptcy Court for the District of Puerto Rico to employ
Heriberto Reguero Acevedo as accountant.

The Debtor requires the accountant to:

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

   (b) prepare the necessary financial statements;

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

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

   (e) assist the Debtor in the preparation and filing of federal,

       state and municipal tax returns; and

   (f) assist the Debtor in any other assignment that might be
       properly delegated by management;

The accountant will be paid at these hourly rates:

       Heriberto Reguero Acevedo      $150
       Associates                     $75

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

Mr. Acevedo 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.

The accountant can be reached at:

       Heriberto Reguero Acevedo
       105 Avenue, Borinquen Base Ramey
       Aguadilla, PR 00603

                   About Western Hiperbaric

Western Hiperbaric Services, P.S.C. sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. D.P.R. Case No. 16-
04809) on June 16, 2016.



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


TRINIDAD & TOBAGO: Liquidity Falls, Central Bank Says
-----------------------------------------------------
Trinidad Express reports that the Central Bank is reporting that
liquidity in Trinidad & Tobago's financial system has declined
since it issued its last Monetary Police Announcement (MPA) in
May.

According to the Bank's latest MPA, which was issued on July 29,
commercial banks' excess reserves fell to a daily average of $3.9
billion compared with $6.4 billion in May and $5.6 billion in
June. Commercial banks excess reserves were elevated in May and
June, as investors held liquid funds in anticipation of
Government's domestic borrowing, Trinidad Express notes.

So far, Government's operations resulted in a net domestic fiscal
withdrawal of $790.7 million, while the Central Bank's net open
market operations removed $32.3 million and sales of foreign
exchange, the equivalent of a further $1.3 billion, according to
Trinidad Express.

Private sector credit slowed to 5.9 percent year on year in May,
compared with 6.7 percent in April, the report relays.

The Central Bank also said food inflation slowed to 9.4 percent in
June from 9.6 percent in May. Core inflation, which excludes food
prices, rose slightly from 2.1 percent in May to 2.2 percent in
June, the report says.

The Central Bank observed there has been volatility in the
international financial markets over the last two months, notably
in the wake of the United Kingdom's referendum on European Union
membership (Brexit), while the US Federal Reserve continued to
delay policy rate increases, the report notes.  Against the
background of muted domestic activity, low inflation and an
uncertain global economic outlook, the Bank has decided to
maintain the Repo Rate at 4.75 percent, the report relays.  The
next MPA is scheduled for September 30.


TRINIDAD & TOBAGO: Centrica plc Wants Out of Country
----------------------------------------------------
Trinidad Express reports that less than a month after Canadian oil
and gas company Niko Resources Ltd signaled it is considering
bailing out of Trinidad and Tobago, one of Britain's energy
company, Centrica plc, reminded the market it is trying to do the
same.

Centrica, the parent company of British Gas, which supplies gas,
electricity and energy-related services to households in the
United Kingdom and North America, is still trying to sell off its
Trinidad and Tobago assets, Centrica Group Chief Executive Officer
Iain Conn said on July 28 as he delivered half-year 2016 results
to investors, according to Trinidad Express.

"We continue to make progress in reshaping our exploration and
production (E&P) business, although low commodity prices mean it
is not straightforward to divest non-core assets as we look to
move from a business producing between 75-80 million barrels of
oil equivalent (mmboe) of gas and oil per annum to one which
produces between 40-50 mmboe.  Our E&P focus is on Europe and we
have now commenced a process to dispose of our Canadian assets,
alongside our partners Qatar Petroleum. We also continue to review
options to dispose of our Trinidad and Tobago assets," the report
quoted Mr. Conn as saying.

Investors who did not hear Conn the first time had the benefit of
a repeat when he reiterated: "We have now commenced a sales
process for our Canadian assets, while we continue to explore
options to exit our positions in Trinidad and Tobago," the report
notes.

Centrica first entered Trinidad and Tobago in 2010 through the
acquisition of assets from Suncor for US$380 million (GBP246
million) in cash, the report relays.  Centrica has a non-operated
17.3 per cent stake in one producing block -- North Coast Marine
Area (NCMA-1) -- and a 90 per cent operated interest in one
development, Block 22, which contains two discoveries -- Cassra
and Sancoche, the report says.  The NCMA-1 block currently
supplies gas into the Atlantic liquefied natural gas (LNG)
facility. In 2014, Centrica sold its 80 per cent stake in Blocks
1(a) and 1(b) in the Gulf of Paria to Trinity Exploration and
Production plc for US$23 million, the report adds.



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


GUARDIAN INDUSTRIES: Venezuela Seizes Control of Operations
------------------------------------------------------------
Guardian Industries Corp. related in a press release that the
Venezuelan government seized control of its operations in
Venezuela by military force last week.

Guardian has operated proudly in Venezuela for decades.  "We have
been fully committed to ensuring the safety of our employees, and
have acted in compliance with all applicable laws and with respect
for the community," the Company related.

The safety of the employees and management of Guardian de
Venezuela's operations are now in the control of the Venezuelan
government.

Guardian Industries Corp. is a privately held, diversified, global
company headquartered in Auburn Hills, Michigan. Guardian, and its
family of companies, employ 17,000 people and operate facilities
throughout North America, Europe, South America, Africa, the
Middle East and Asia, with a vision to create value for customers
and society through constant innovation using fewer resources.


                            ***********


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.

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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
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