TCRLA_Public/160812.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

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

            Friday, August 12, 2016, Vol. 17, No. 159


                            Headlines



A R G E N T I N A

ARGENTINA: Sees Tax Amnesty Boosting Economy
GUACOLDA ENERGIA: S&P Assigns 'BB+' CCR, Outlook Stable


B R A Z I L

GRUPO BOM JESUS: Offers Debt-For-Land Swap in Reorganization
JBS SA: Discloses Commencement of Consent Solicitations
OI SA: To Unveil Reorganization Plan by Early September


C A Y M A N  I S L A N D S

AQR OFFSHORE: Shareholder to Hear Wind-Up Report on Aug. 22
ASAHI LTD: Members' Final Meeting Set for Aug. 19
CROWN ONE: Shareholder to Hear Wind-Up Report on Aug. 22
FOCUS 825: Shareholders' Final Meeting Set for Aug. 23
KAIMASU LTD: Members' Final Meeting Set for Aug. 19

KARAMAAN GROUP: Member to Hear Wind-Up Report on Aug. 22
KARAMAAN GROUP MASTER: Member to Hear Wind-Up Report on Aug. 22
MOHICAN VCA: Shareholder to Hear Wind-Up Report on Aug. 22
MOHICAN VCA MASTER: Shareholder to Hear Wind-Up Report on Aug. 22
MONGOLIAN MINING: Placed Under Provisional Liquidation

MOOREA INVESTMENTS: Members' Final Meeting Set for Sept. 1
OI MOVEL: Placed Under Cross-Border Insolvency Regulations 2006
PELORUS MARITIME: Shareholder to Hear Wind-Up Report on Aug. 29
PLUSFUNDS MANAGER: Creditors' Proofs of Debt Due Oct. 10


D O M I N I C A N   R E P U B L I C

DOMINICAN REPUBLIC: Fuel Subsidy Means RD$2BB+ in Lost Revenue


P U E R T O    R I C O

AEROPOSTALE INC: Louisiana Revenue Dept. Objects to Plan Outline
AMERICAN PARKING: Wants Plan Filing Period Extended Until Dec. 5
CINEVIA CORPORATION: Wants Tenants' Mail Sent Through Freiria
EMPRESAS PLAYA: Hires Ismael Isern as Appraiser
LIGHTHOUSE HISTORICAL: Court to Take Up Bankruptcy Plan on Sept. 7

MORGANS HOTEL: Files Third Amended Transaction Statement


                            - - - - -



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


ARGENTINA: Sees Tax Amnesty Boosting Economy
--------------------------------------------
Saul Hudson and Nicolas Misculin at Reuters report that a tax
amnesty in Argentina covering undeclared assets could provide as
much as $80 billion to help kickstart the economy while also
reducing the government's need to issue debt, policymakers and
bankers said.

The amnesty allows Argentines to disclose previously undeclared
funds held abroad or at home and be taxed at a preferable rate if
they invest them in the country, according to Reuters.  The
amnesty runs to the end of 2016.

That could lower the amount of debt the country needs to issue,
Finance Minister Alfonso Prat-Gay told a Reuters Summit on
Argentina, the report says.

"After 2017, the schedule of maturing debt lightens significantly.
(The amnesty) will allow us to overcome the final challenging year
of debt maturities," he said, without giving timetable details,
the report relays.

The center-right government of President Mauricio Macri took power
in Argentina in December, swiftly agreeing to a deal over unpaid
debt and pushing through pro-business reforms aimed at opening up
the country to capital markets and attracting investment after
years of protectionist rule, Reuters recalls.

But Latin America's No. 3 economy is still expected to shrink
about 1.5 percent this year, with inflation ending the year at
around 40 percent, the report says.

Mr. Prat-Gay said that what the government was doing was "a work
in progress."

"There is no alternative but growth in Argentina," he said.
"Inflation is starting to come down. (Gradual changes) are the
only possible path," Mr. Prat-Gay added.

Speakers at the Reuters Summit pointed to the amnesty as key to
getting investment going.

"This is going to be incredibly more successful than any other
Argentine amnesty, or any from the region," said Facundo Gomez
Minujin, executive director of the local arm of JP Morgan, the
report notes.  Estimating how much the amnesty would bring in is
difficult but it could reach $50 billion, he said, the report
relays.

Gabriel Martino, president of HSBC Bank Argentina, put the
possible figure of declared funds at between $60 billion and $80
billion. He added that would not all immediately translate into
investment in Argentina, but would be "open" for the future, the
report discloses.

"It will be the Argentine way -- all in the last two weeks of
December," Mr. Prat-Gay added.

Transparency agreements between countries that come into effect
next year will encourage stragglers, said Mariano Federici, head
of the government's financial information agency, the report
notes.

"All the time more doors are closing for those who want to
comfortably save money or wealth offshore, off the state radar,"
Mr. Prat-Gay said.

                           *     *     *

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 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'.


GUACOLDA ENERGIA: S&P Assigns 'BB+' CCR, Outlook Stable
-------------------------------------------------------
S&P Global Ratings assigned its 'BB+' corporate credit rating on
Guacolda Energia S.A.  At the same time, S&P affirmed the issue-
level rating on Empresa Electrica Guacolda S.A.'s existing
$500 million senior unsecured notes due 2025 at 'BB+' and withdrew
S&P's 'BB+' corporate credit rating on the company.  The outlook
on Guacolda is stable.

During the second half of 2015, Empresa Eletrica Guacolda S.A.
announced a corporate reorganization process.  After the
transaction was completed, Empresa Electrica Guacolda S.A was
taken over by Guacolda Energia S.A., with the latter acquiring all
the assets, liabilities, rights, and obligations of the former
(including the rated bonds of $500 million due in 2025).  The
transaction did not imply any change from an operational,
statutory, or shareholder perspective and was intended only to
lead to gains in efficiency.  Since S&P omitted the impact of the
reorganization process on its ratings at that time, S&P is
correcting them now.  From an analytical perspective, S&P
concluded that there are no changes in Guacolda's repayment
capacity because its underlying assets, outstanding liabilities,
and repayment capacity remained unchanged.

The stable outlook reflects S&P's expectations that Guacolda will
generate an annual EBITDA of at least $160 million - $175 million
based on current long-term PPAs and post debt to EBITDA of 4.5x-
5.0x and FFO to debt above 12% in the next two years.  Considering
the recent start-up the fifth turbine, S&P don't expect additional
expansionary capex.

S&P could downgrade the company if its EBITDA plummets and/or its
net debt increases beyond S&P's expectations due to, for example,
lower levels of dispatch, significantly lower levels of spot
prices that could affect the uncontracted sales or effects of
transmission constraints, or if it develops a more aggressive
dividend policy, leading to an adjusted debt to EBITDA of
consistently more than 6.0x.  Under that scenario, S&P could
revise its financial risk profile assessment to highly leveraged
from aggressive and lower the ratings to 'BB-', all else being
equal.

S&P could upgrade Guacolda if it increases the contracted sales at
robust prices that would bolster EBITDA and improve credit
metrics, while debt remains unchanged.  S&P could revise its
financial risk profile assessment to significant from aggressive
if debt to EBITDA remains below 4x on a consistent basis, which
could result in a one-notch upgrade.



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


GRUPO BOM JESUS: Offers Debt-For-Land Swap in Reorganization
------------------------------------------------------------
Tatiana Bautzer at Reuters reports that Grupo Bom Jesus, a
Brazilian grain producer that filed for bankruptcy protection in
May, has offered creditors stakes in a farm that could be later
sold, in an effort to restructure BRL2.6 billion ($826 million) in
debt.

According to documents that Bom Jesus filed in a court in the
midwestern town of Rondonopolis, one part of the plan calls for an
auction of farms and a grains trading subsidiary to raise cash.
The company plans to continue operations while negotiating the
debt restructuring, the report notes.

Creditors can choose between extending debt maturities to up to 15
years or receiving notes that could eventually be converted into
equity in Bom Jesus' farms, the document showed, according to
Reuters.

Bom Jesus, which is one of Brazil's largest grain producers, and
financial advisor Pantalica Partners declined to comment.

The first option would ask secured creditors to forgive debt
payments for two years and stretch out debt maturities to 12
years, the report relays.  Unsecured creditors could receive no
repayments for three years, with debt maturities extended to 15
years and a yet-to-determined discount on the principal of their
debt, the report notes.

The second option entails a debt-for-equity swap for both
unsecured and secured creditors, with Bom Jesus setting aside
stakes in the Sao Benedito farm, the report notes.  Bom Jesus and
its advisers will look for investors to buy stakes and funnel the
proceeds to repay creditors which opt for the debt-for-equity
swap, the report discloses.

The soybean and cotton producer owns 240,000 hectares (593,100
acres) of land.

Bom Jesus is the latest major grain producer to receive court
protection in 2016 as Brazil's harshest recession in eight decades
and rising borrowing costs magnified the woes of companies that
took on heavy debt to expand in recent years.  Reuters reported in
June that Bom Jesus was in restructuring talks.

The company filed for bankruptcy protection after failing to agree
on a refinancing plan with a group of 28 lenders led by Banco
Santander Brasil SA, the report recalls.


JBS SA: Discloses Commencement of Consent Solicitations
-------------------------------------------------------
JBS USA Lux S.A. (formerly known as JBS USA, LLC) and JBS S.A.
disclosed that (i) JBS USA is soliciting consents (with respect to
each series of JBS USA Notes, the "JBS USA Consents") from the
holders of the 8.250% Senior Notes due 2020, the 7.250% Senior
Notes due 2021, the 5.875% Senior Notes due 2024 and the 5.750%
Senior Notes due 2025 issued by JBS USA and JBS USA Finance, Inc.
(collectively, the "JBS USA Notes") and (ii) JBS S.A. is
soliciting consents (with respect to each series of JBS S.A. Notes
(as defined below), the "JBS S.A. Consents" and, together with the
JBS USA Consents, the "Consents") from the holders of the 7.750%
Senior Notes due 2020, the 6.250% Senior Notes due 2023 and the
7.250% Senior Notes due 2024 issued by JBS Investments GmbH
(collectively, the "JBS S.A. Notes" and, together with the JBS USA
Notes, the "Notes"), to certain proposed waivers and amendments as
set forth below (with respect to each series of Notes, the
"Proposed Amendments") to the indentures governing each series of
Notes (with respect to each series of Notes, an "Indenture" and,
collectively, the "Indentures") (with respect to each series of
Notes, a "Consent Solicitation" and, collectively, the "Consent
Solicitations").

JBS USA and JBS S.A. are seeking the Proposed Amendments in order
to allow, among other things, the proposed global reorganization
of JBS S.A. and its subsidiaries described in the Consent
Documents.

Holders of the JBS USA Notes are referred to the consent
solicitation statement of JBS USA, dated August 8, 2016, and the
related consent letter (together, the "JBS USA Consent Documents")
for the detailed terms and conditions of each of the Consent
Solicitations with respect to the JBS USA Notes. Holders of the
JBS S.A. Notes are referred to the consent solicitation statement
of JBS S.A., dated August 8, 2016, and the related consent letter
(together, the "JBS S.A. Consent Documents" and, together with the
JBS USA Consent Documents, the "Consent Documents") for the
detailed terms and conditions of each of the Consent Solicitations
with respect to the JBS S.A. Notes. Each Consent Solicitation was
commenced today, Aug. 8 and will expire at 5:00 p.m. (New York
City time) on August 16, 2016, unless extended by JBS USA or JBS
S.A., as applicable (each such date and time, as the same may be
extended, is referred to as the "Expiration Time").  Each Consent
Solicitation is made solely by means of the applicable Consent
Documents.  These Consent Documents contain important information
that holders of Notes should carefully read before any decision is
made with respect to the applicable Consent Solicitation.

Only holders of the applicable Notes as of 5:00 p.m. (New York
City time) on August 5, 2016 (such date and time, including as
such date and time may be changed by JBS USA or JBS S.A., as
applicable, from time to time, the "Record Date") are entitled to
consent to the Proposed Amendments pursuant to the applicable
Consent Solicitation. In order to implement the Proposed
Amendments, supplemental indentures to the related Indenture will
be entered into by the applicable parties (with respect to each
series of Notes, a "Supplemental Indenture" and, collectively, the
"Supplemental Indentures").  For each series of Notes, if the
applicable Supplemental Indenture is executed and the other terms
and conditions set forth in the Consent Documents are satisfied or
waived, then holders of such Notes as of the Record Date will
receive a cash payment equal to U.S.$1.25 per U.S.$1,000 principal
amount of such Notes in respect of which consent letters and
Consents to the Proposed Amendments have been validly delivered
prior to the applicable Expiration Time and not validly revoked by
such holder.  Holders will be permitted to revoke Consents at any
time prior to the execution and delivery of the related
Supplemental Indenture, which may occur prior to the applicable
Expiration Time.

In order to execute and deliver the applicable Supplemental
Indenture, JBS USA and JBS S.A., as applicable, must receive
Consents from the applicable holders as of the Record Date
representing at least a majority of the aggregate principal amount
of the applicable Notes (not including any such Notes that are
owned by JBS USA, JBS S.A. or any of their respective affiliates)
(with respect to each series of Notes, the "Requisite Consents").
Each Consent Solicitation constitutes separate and distinct
solicitations with respect to each series of Notes.

"Our obligation to accept, and pay for, Consents validly delivered
and not revoked is conditioned upon satisfaction of certain
conditions as described in the applicable Consent Document,
including the receipt of the Requisite Consents from each series
of JBS USA Notes and each series of JBS S.A. Notes. We may, in our
sole discretion, terminate any Consent Solicitation, allow any
Consent Solicitation to lapse, extend any Consent Solicitation and
continue soliciting Consents pursuant to any Consent Solicitation
or otherwise amend the terms of any Consent Solicitation,
including the waiver of any or all of the conditions set forth in
the applicable Consent Document."

Each of JBS USA and JBS S.A., as applicable, reserves the right,
in its sole discretion, to modify the applicable Consent Documents
and the terms and conditions of its respective Consent
Solicitations or to terminate its respective Consent Solicitations
at any time.

As reported in the Troubled Company Reporter-Latin America on
May 16, 2016, S&P Global Ratings revised its outlook on JBS S.A.
and JBS USA LLC to negative from stable.  At the same time, S&P
affirmed its 'BB+' global scale and 'brAA+' national scale ratings
on JBS and JBS USA.  In addition, S&P affirmed its 'BB+' issue-
level ratings on both companies.  A recovery rating of '3' for the
senior secured debt -- indicating a recovery expectation of 70%-
90%, in the higher band of the range -- and a '4' recovery rating
for the unsecured debt -- indicating a recovery expectation of
30%-50%, the higher band of the range -- remain unchanged.


OI SA: To Unveil Reorganization Plan by Early September
-------------------------------------------------------
Rodrigo Viga Gaier at Reuters reports that phone carrier Oi SA,
which filed in June for Brazil's largest ever in-court
reorganization, will present a plan to overhaul business and repay
creditors later this month or by early September, Chief Executive
Officer Marco Schroeder said.

Schroeder told reporters in Rio de Janeiro, where Brazil's largest
fixed-line phone operator is based, that suppliers and creditors
will be offered terms of the business reorganization plan, which
involves a debt-for-equity swap, according to Reuters.  He
declined to elaborate.

Oi SA, the byproduct of a government-sponsored merger between two
rival carriers in 2008, filed in June for creditor protection in a
Rio de Janeiro court to restructure BRL65.4 billion ($21 billion)
in debt, the report adds.

                              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.



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


AQR OFFSHORE: Shareholder to Hear Wind-Up Report on Aug. 22
-----------------------------------------------------------
The sole shareholder of AQR Offshore Multi-Strategy Fund IX Ltd.
will hear on Aug. 22, 2016, at 10:45 a.m., the liquidator's report
on the company's wind-up proceedings and property disposal.

The company's liquidator is:

          AQR Capital Management, LLC
          c/o Joanne Huckle
          89 Nexus Way, Camana Bay
          Grand Cayman KY1-9009
          Cayman Islands
          Telephone: +1 (345) 949 9876
          Facsimile: +1 (345) 949 9877


ASAHI LTD: Members' Final Meeting Set for Aug. 19
-------------------------------------------------
The members of Asahi Ltd. will hold their final meeting on
Aug. 19, 2016, to receive the liquidator's report on the company's
wind-up proceedings and property disposal.

The company's liquidator is:

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


CROWN ONE: Shareholder to Hear Wind-Up Report on Aug. 22
--------------------------------------------------------
The shareholder of Crown One Master Fund SPC will hear on Aug. 22,
2016, at 11:00 a.m., the liquidator's report on the company's
wind-up proceedings and property disposal.

The company's liquidator is:

          Wong Yan Wai, George
          c/o Charlotte Bradshaw
          Ogier
          Central Tower, 11th Floor
          28 Queen's Road Central
          Hong Kong
          Telephone: +852 3656 6034


FOCUS 825: Shareholders' Final Meeting Set for Aug. 23
------------------------------------------------------
The shareholders of Focus 825 Ltd. will hold their final meeting
on Aug. 23, 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:

          Richard Fear
          c/o Ryan Charles
          P.O. Box 2681 Grand Cayman KY1-1111
          Cayman Islands
          Telephone: (345) 814 7364
          Facsimile: (345) 945 3902


KAIMASU LTD: Members' Final Meeting Set for Aug. 19
---------------------------------------------------
The members of Kaimasu Ltd. will hold their final meeting on
Aug. 19, 2016, to receive the liquidator's report on the company's
wind-up proceedings and property disposal.

The company's liquidator is:

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


KARAMAAN GROUP: Member to Hear Wind-Up Report on Aug. 22
--------------------------------------------------------
The member of Karamaan Group Fund, Ltd. will hear on Aug. 22,
2016, at 10:00 a.m., the liquidator's report on the company's
wind-up proceedings and property disposal.

The company's liquidator is:

          Karamaan Group, LLC
          c/o Tim Cone
          Telephone: +1 (345) 949 9876
          Facsimile: +1 (345) 949 9877


KARAMAAN GROUP MASTER: Member to Hear Wind-Up Report on Aug. 22
---------------------------------------------------------------
The member of Karamaan Group Master Fund, Ltd. will hear on
Aug. 22, 2016, at 10:00 a.m., the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

          Karamaan Group, LLC
          c/o Tim Cone
          Telephone: +1 (345) 949 9876
          Facsimile: +1 (345) 949 9877


MOHICAN VCA: Shareholder to Hear Wind-Up Report on Aug. 22
----------------------------------------------------------
The sole shareholder of Mohican VCA Offshore Fund, Ltd. will hear
on Aug. 22, 2016, at 10:00 a.m., the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

          Mohican Financial Management, LLC
          c/o Joanne Huckle
          Telephone: +1 (345) 949 9876
          Facsimile: +1 (345) 949 9877


MOHICAN VCA MASTER: Shareholder to Hear Wind-Up Report on Aug. 22
-----------------------------------------------------------------
The sole shareholder of Mohican VCA Master Fund, Ltd. will hear on
Aug. 22, 2016, at 10:15 a.m., the liquidator's report on the
company's wind-up proceedings and property disposal.

The company's liquidator is:

          Mohican Financial Management, LLC
          c/o Joanne Huckle
          Telephone: +1 (345) 949 9876
          Facsimile: +1 (345) 949 9877


MONGOLIAN MINING: Placed Under Provisional Liquidation
------------------------------------------------------
The Grand Court of Cayman Islands, on July 19, 2016, entered an
order to place Mongolian Mining Corporation under provisional
liquidation.

The company's liquidators are:

          Simon Conway
          PwC Corporate Finance & Recovery (Cayman) Limited
          18 Forum Lane, Camana Bay
          P.O. Box 258, Grand Cayman, KYI-1104
          Cayman Islands; and

          Christopher So Man Chun
          PricewaterhouseCoopers Ltd.
          Prince's Building, 22nd Floor
          Central
          Hong Kong


MOOREA INVESTMENTS: Members' Final Meeting Set for Sept. 1
----------------------------------------------------------
The members of Moorea Investments Limited will hold their final
meeting on Sept. 1, 2016, to receive the liquidator's report on
the company's wind-up proceedings and property disposal.

The company's liquidator is:

          Zedra Directors (Cayman) Limited
          c/o Enola Reid
          Telephone: +1 (345) 914-5413
          First Caribbean House, 4th Floor
          P.O Box 487 George Town
          Grand Cayman KY1-1106
          Cayman Islands


OI MOVEL: Placed Under Cross-Border Insolvency Regulations 2006
---------------------------------------------------------------
On July 28, 2016, Oi Movel SA was placed under Cross-Border
Insolvency Regulations 2006.

Pursuant to Articles 20(6) and 21(1)(g) of the Model Law, the stay
and suspension on Article 20(1) of the Model Law is modified as
follows and additional relief is granted in these terms:

   -- no step may be taken to enforce any mortgage, charge, lien
      or other security over the company's property except with
      the consent of the Foreign Representative or the permission
      of the Court;

   -- no step may be taken to repossess goods in the company's
      possession under the hire-purchase agreement of Schedule B1
      to the Insolvency  Act 1986 except with the consent of the
      Foreign Representative or the permission of the Court;

   -- No legal process may be instituted or continued against the
      company or its property except with the consent of the
      Foreign Representative or the permission of the Court;

   -- An administrative receiver of the company may not be
      appointed;

   -- No winding up the petition may be presented in respect of
      the company except with the consent of the Foreign
      Representative or the permission of the Court, and no order
      may be made for the winding up the company.

For the avoidance of doubt:

   -- for the purposes of this order, the term "legal process"
      includes arbitrations, legal proceedings, execution,
      distress, diligence and all other forms of legal process.

   -- paragraph 1(3) of this order relates only to legal process
      against the company and does not affect legal process by the
      company against third parties.

   -- as a result of this order, the stay and suspension set out
      in Article 20(1) of the Model Law shall no longer be
      effective.

This order applies only in Great Britain and does not have extra-
territorial effect.

The company's foreign representative is:

          Richard Hudson
          McKinsey & Company
          1 Jermyn St.
          London SW1Y 4UH


PELORUS MARITIME: Shareholder to Hear Wind-Up Report on Aug. 29
---------------------------------------------------------------
The shareholder of Pelorus Maritime Ltd. will hear on Aug. 29,
2016, at 10:00 a.m., the liquidator's report on the company's
wind-up proceedings and property disposal.

The company's liquidator is:

          Guy Neivens
          P.O. Box 33639 Abu Dhabi
          United Arab Emirates
          Telephone: +971 2551 1336
          Facsimile: +971 2551 1556


PLUSFUNDS MANAGER: Creditors' Proofs of Debt Due Oct. 10
--------------------------------------------------------
KRyS Global, the official liquidator, set the deadline of Oct. 10,
2016, to file proofs of debt for the creditors of these companies,
which are under liquidation:

   -- PlusFunds Manager Access Fund SPC;
   -- SPhinX Plus, SPC Ltd;
   -- SPhinX Ltd.;
   -- SPhinX Strategy Fund Ltd.;
   -- SPhinX Managed Futures Ltd.;
   -- SPhinX Managed Futures Fund SPC;
   -- SPhinX Long-Short Equity Fund SPC;
   -- SPhinX Fixed Income Arbitrage Fund SPC;
   -- SPhinX Convertible Arbitrage Fund SPC;
   -- SPhinX Distressed Fund SPC;
   -- SPhinX Special Situations Fund SPC;
   -- SPhinX Macro Fund SPC;
   -- SPhinX Macro Ltd.;
   -- SPhinX Merger Arbitrage Fund SPC;
   -- SPhinX Equity Market Neutral Fund SPC;
   -- SPhinX Long/Short Equity Ltd.;
   -- SPhinX Convertible Arbitrage Ltd.;
   -- SPhinX Fixed Income Arbitrage Ltd.;
   -- SPhinX Distressed Ltd.;
   -- SPhinX Merger Arbitrage Ltd.;
   -- SPhinX Special Situations Ltd.;
   -- SPhinX Equity Market Neutral Ltd.

The Liquidator can be reached at:

          KRyS Global, Governors Square
          Building 6, 2nd Floor
          23 Lime Tree Bay Avenue
          P.O. Box 31237, Grand Cayman KY1-1205
          Cayman Islands
          Telephone: +1 (345) 947-4700
          Facsimile: +1 (345) 946-6728



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


DOMINICAN REPUBLIC: Fuel Subsidy Means RD$2BB+ in Lost Revenue
--------------------------------------------------------------
Dominican Today reports that the Dominican Republic government's
monthly tax break on around four million gallons of fuel means
more than RD$2.0 billion in lost revenue, a situation the Society
of Fuel and Derivatives Companies (SEC), says should be eliminated
or geared toward benefiting consumers.

It said the tax break on fuels distorts the market to the
detriment of consumers, distribution companies and state coffers,
according to Dominican Today.

The SEC said it agrees with Industry and Commerce minister Jose
del Castillo's statement that current market conditions have
changed since the subsidies were established, and therefore must
be repealed, the report notes.

The SEC said the National Gasolines Retailers Association and some
transport business leaders that get the subsidy have stated their
concern on the issue, and agree on calling it an unfair practice
that violates regulation on oil prices and "have been an engine of
crimes," the report relays.

Quoted by eldia.com.do, SEC president Demetrio Almonte estimates
the practice's fiscal impact at more than RD$2.0 billion per year
in lost revenue.  "If future conditions warrant the subsidy to
transport unions, it must be channeled in a more controlled
manner, ensuring it reaches its real beneficiaries. The subsidy
should be channeled through regulated service stations to ensure
greater transparency," the report quoted Mr. Almonte as saying.



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


AEROPOSTALE INC: Louisiana Revenue Dept. Objects to Plan Outline
----------------------------------------------------------------
The Secretary of the Louisiana Department of Revenue, holder of
five prepetition claims, filed with the U.S. Bankruptcy Court for
the Southern District of New York an objection to Aeropostale,
Inc., et al.'s Disclosure Statement.

LDR objects to Article V of the Disclosure Statement,
specifically:

     (i) Sections B and C.  LDR claims that these sections fail to
         state that Priority Tax Claims are unimpaired claims as
         well as unclassified, and fails to disclose whether
         priority tax claimants will be presumed to accept the
         Plan or will be entitled to vote on the Plan.  The LDR
         does not accept treatment less than what is required;

    (ii) Section C(1) because it fails to provide an for the
         exemption of governmental units for the requirement of
         filing requests for payment for administrative expenses.
         At present, LDR does not have any administrative claims,
         but may have prior to the bar date for same and LDR does
         not wish to have its right to such exemption impaired.
         As a governmental unit, LDR does not accept any
         impairment of its right to specific treatment under the
         U.S. Bankruptcy Code or its right to applicable non
         bankruptcy law statutory interest on delinquent taxes if
         any of the claims are not paid on the latter of the
         effective date or the due date in the ordinary course of
         business;

   (iii) Section C(3) because it describes the plan in a manner
         that fails to provide for post-effective date interest
         for Priority Tax Claims and that the rate paid will be
         the applicable statutory non-bankruptcy rate of interest
         required by the taxing authority in question or
         specifically, that LDR's claims will be paid at the
         applicable statutory non-bankruptcy rate, specifically,
         the interest rate required.  Unless the plan provides for
         payment if post-effective date interest LDR's Priority
         Tax Claims are impaired.

A copy of the Objection is available at:

           http://bankrupt.com/misc/nysb16-11275-476.pdf

LDR can be reached at:

         LOUISIANA DEPARTMENT OF REVENUE
         Florence Bonaccorso-Saenz, Esq.
         Bankruptcy Counsel, Collections Division
         617 N. Third Street, Office 780
         Post Office Box 66658 (Zip Code 70896)
         Baton Rouge, LA 70802
         Tel: (225) 219-2083
         Fax: (225) 231-6235
         E-mail: Florence.Saenz@la.gov

                     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, 2016, 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.

                           *     *     *

The Bankruptcy Court entered an order establishing (i) July 25,
2016 at 5:00 p.m. (Eastern Time) as the deadline for each person
or entity, not including governmental units to file proofs of
claim in respect of any prepetition claims against any of the
Debtors, and (ii) Oct. 31, 2016, at 5:00 p.m. (Eastern Time) as
the deadline for governmental units to file proofs of claim in
respect of any prepetition claims against any of the Debtors.


AMERICAN PARKING: Wants Plan Filing Period Extended Until Dec. 5
----------------------------------------------------------------
American Parking System, Inc., asks the U.S. Bankruptcy Court for
the District of Puerto Rico to extend its exclusive periods within
which it may propose a plan through and including December 5,
2016.

The Debtor tells the Court that it was unable to extend the
deadline to pay the agreed upon discounted payoff to its then
secured creditor Condado 2 LLC, and was forced to scramble to get
a DIP Financing, which was approved by the Court.  As such, the
Debtor's efforts since the commencement of its case have been
geared towards extending the agreement with its secured creditor
and then towards obtaining the needed DIP Financing.

The Debtor also tells that it can now focus on its reorganization
plan for as the Debtor was able to obtain the DIP Financing to
comply with the discounted payoff agreement and eliminating on the
way more than $29,000,000 of the Debtor's debts.

Furthermore, the Debtor is in the process of reconciling its
claims but the deadline for filing proof of claims for general
unsecured creditors and government entities has not elapsed. As
such, Debtor understands that it would be more cost effective and
it behooves all creditors and parties in interest to file the
Disclosure Statement and Plan of Reorganization after these
deadlines have elapsed and the claim reconciling process is
completed.

Counsel for American Parking System, Inc.:

       Alexis Fuentes-Hernandez, Esq.
       FUENTES LAW OFFICES, LLC
       P.O. Box 9022726
       San Juan, PR 00902-2726
       Tel. (787) 722-5215, 5216
       Fax. (787) 722-5206
       E-mail: alex@fuentes-law.com

                  About American Parking

Headquartered in San Juan, Puerto Rico, American Parking System
Inc. filed for Chapter 11 bankruptcy protection (Bankr. D. P.R.
Case No. 16-02761) on April 8, 2016, estimating its assets at up
to $50,000 and its liabilities at between $10 million and $50
million.  The petition was signed by Miguel Cabral Veras,
president.

Judge Edward A Godoy presides over the case.

Alexis Fuentes Hernandez, Esq., at Fuentes Law Offices, LLC,
serves as the Debtor's bankruptcy counsel.


CINEVIA CORPORATION: Wants Tenants' Mail Sent Through Freiria
-------------------------------------------------------------
Cinevia Corporation asks the U.S. Bankruptcy Court for the
District of Puerto Rico to appoint Realtor Mrs. Lucy Freiria as
the Court's communication agent.

The Debtor relates that mail sent by the Court to the tenants of
the building located in 103 Cristo St., Old San Juan, San Juan,
PR, were returned.  The Debtor further relates that some of the
apartments in the building are rented by Mrs. Freiria.

Mrs. Freiria noted that some tenants leave the gates, which lead
toward the mail boxes, open.  She further noted that tenants often
complain that other tenants leave the gates open and that they
lose many of the mail that were sent to them.

The Debtor requests that the office in charge of sending
communications for the Court coordinate with Mrs. Freiria, and
send the Court's communications for the tenants through her.  The
Debtor tells the Court that it prefers not to be involved with the
sending of the communications to the tenants in order to avoid
speculations about their officer's performance.

A full-text copy of the Debtor's Motion, dated Aug. 2, 2016, is
available at https://is.gd/LxO0xW

                    About Cinevia Corporation

Cinevia Corporation filed a chapter 11 petition (Bankr. D.P.R.
Case No. 15-03407) on May 5, 2015.  The petition was signed by
Miguel Pagan, President.  The Debtor is represented by Jose M.
Prieto Carballo, Esq., at JPC Law Office.  The Debtor estimated
its assets at less than $500,000 and its liabilities at less than
$1 million at the time of the filing.


EMPRESAS PLAYA: Hires Ismael Isern as Appraiser
-----------------------------------------------
Empresas Playa Joyuda, Inc., seeks authorization from the U.S.
Bankruptcy Court for the District of Puerto Rico to employ Ismael
Isern as appraiser.

The Debtor has requested from Ismael Isem to assume the appraisal
services for the commercial property -- a hotel -- located at
State Road 102 Km 14.3 Playa Joyuda, in Cabo Rojo, Puerto Rico.

The Debtor agree to compensate Ismael Isem $3,500 plus a 4% state
tax for a total due of $3,640.  A $1,840 retainer fee must be paid
by the Debtor from available funds.

Ismael Isem 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 estates.

Ismael Isem may be reached at:

     Ismael Isem
     968 Calle 42 SE
     San Juan, PR 00921-2701
     Phone: (787)765-2110
     Fax: (787)765-2132

              About Empresas Playa Joyuda

Empresas Playa Joyuda, Inc. filed a Chapter 11 bankruptcy petition
(Bankr. D.P.R. Case No. 15-09594) on December 1, 2015.  Gratacos
Law Firm, PSC represents the Debtor as counsel.  In its petition,
the Debtor estimated $939,685 in assets and $2.74 million in
liabilities. The petition was signed by Cesar Perez Perichi,
president and treasurer.


LIGHTHOUSE HISTORICAL: Court to Take Up Bankruptcy Plan on Sept. 7
------------------------------------------------------------------
A U.S. bankruptcy judge will consider approval of the Chapter 11
plan of Lighthouse Historical Foundation Inc. at a hearing on
September 7.

Judge Mildred Caban Flores of the U.S. Bankruptcy Court for the
District of Puerto Rico will hold the hearing at 9:00 a.m., at the
U.S. Bankruptcy Court, Jose V. Toledo U.S. Post Office and
Courthouse Building, Courtroom 3, Third Floor, 300 Recinto Sur
Street, San Juan, Puerto Rico.

The bankruptcy judge will also consider at the hearing the final
approval of Lighthouse's disclosure statement, which she
conditionally approved on July 28.

Creditors are required to cast their votes and file their
objections on or before 14 days prior to the September 7 hearing.

Under the proposed plan, general unsecured creditors will receive
cash payments, which Lighthouse has valued at 30% of their allowed
claims.  The plan divides claims into three classes, which will be
paid in cash over five years.

A copy of the disclosure statement is available for free at
https://is.gd/8PlUFq

Lighthouse is represented by:

     Jose Ramon Cintron, Esq.
     Condado 605, Suite 602
     Santurce, Puerto Rico 00907
     Tel: 787-725-4027
     Cel: 787-605-3342
     Fax: 787-725-1709
     Email: jrcintron@prtc.net
     Email: lawoffice602@gmail.com

            About Lighthouse Historical Foundation

Lighthouse Historical Foundation Inc. is a non-profit organization
engaged in the protection and maintenance of the Arecibo
Lighthouse.  The Debtor operates a maritime history museum, small
zoo and aquarium, water park, souvenir shop and cafeteria at the
site.

The Debtor sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D.P.R. Case No. 15-10029) on December 18, 2015.


MORGANS HOTEL: Files Third Amended Transaction Statement
--------------------------------------------------------
An amendment No. 3 to the Rule 13E-3 Transaction Statement was
filed with the Securities and Exchange Commission pursuant to
Section 13(e) of the Securities Exchange Act of 1934, as amended,
jointly by (i) Morgans Hotel Group Co., a Delaware corporation,
(ii) Trousdale Acquisition Sub, Inc., a Delaware corporation,
(iii) SBEEG Holdings, LLC, a Delaware limited liability company
and (iv) Yucaipa Hospitality Investments, LLC, a Delaware limited
liability company.

On July 18, 2016, the Company filed with the SEC a preliminary
proxy statement on Schedule 14A and, together with the other
Filing Persons, an Amendment No. 2 to the Rule 13E-3 Transaction
Statement, regarding, among other things, a proposal to adopt that
certain Merger Agreement by and among the Company, SBE and Merger
Sub, dated as of May 9, 2016.

Concurrently with the filing of the Amendment No. 3, the Company
filed with the SEC certain additional Soliciting Material under
Section 14a-12 of the Exchange Act on Schedule 14A which contain
certain amendments to the Proxy Statement.

This Amendment is being filed (i) to amend and supplement Items 4,
5, 7 and 8, (ii) to amend and restate subsection (c) under Item 15
and (iii) to amend and supplement Item 16.

                  About Morgans Hotel Group

Based in New York, Morgans Hotel Group Co. (Nasdaq: MHGC) --
http://www.morganshotelgroup.com/-- is widely credited as the
creator of the first "boutique" hotel and a continuing leader of
the hotel industry's boutique sector.  Morgans Hotel Group
operates and owns, or has an ownership interest in, Morgans,
Royalton and Hudson in New York, Delano and Shore Club in South
Beach, Mondrian in Los Angeles and South Beach, Clift in San
Francisco, Ames in Boston, and Sanderson and St Martins Lane in
London.  Morgans Hotel Group and an equity partner also own the
Hard Rock Hotel & Casino in Las Vegas and related assets.  Morgans
Hotel Group also manages hotels in Isla Verde, Puerto Rico and
Playa del Carmen, Mexico.  Morgans Hotel Group has other property
transactions in various stages of completion, including projects
in SoHo, New York and Palm Springs, California.

Morgans Hotel reported net income attributable to common
stockholders of $5.45 million on $220 million of total revenues
for the year ended Dec. 31, 2015, compared to a net loss
attributable to common stockholders of $66.6 million on $234
million of total revenues for the year ended Dec. 31, 2014.

As of March 31, 2016, Morgans Hotel had $518 million in total
assets, $737 million in total liabilities and a total deficit of
$219 million.


                            ***********


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 * * *