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

               Friday, December 30, 2016, Vol. 17, No. 259


                            Headlines



B O L I V I A

* Commodity Prices Pose Challenges to Bolivia Objectives, IMF Says


B R A Z I L

BRAZIL: President Temer to Veto Relief for Indebted States
CEMIG GERACAO: Moody's Rates BRL2.24BB Debentures Due 2021 'B1'


C A Y M A N  I S L A N D S

ANGALO HOLDINGS: Commences Liquidation Proceedings
CHESTER GLOBAL: Placed Under Voluntary Wind-Up
IRONGATE GLOBAL: Placed Under Voluntary Wind-Up
KED MINING: Placed Under Voluntary Wind-Up
LVRF FUNDING I: Commences Liquidation Proceedings

MONKS REST: Commences Liquidation Proceedings
MWAM CBO 2001-1: Commences Liquidation Proceedings
NUFU DEAL: Commences Liquidation Proceedings
ORMARYD INSURANCE: Commences Liquidation Proceedings
POTOMAC RIVER: Placed Under Voluntary Wind-Up

PROTECTED CREDIT: Commences Liquidation Proceedings
ROBUS GERMAN: Creditors' Proofs of Debt Due Jan. 5
URSA COMPANY: Creditors' Proofs of Debt Due Jan. 5
WOODSFORD ASSET: Placed Under Voluntary Wind-Up


M E X I C O

MEXICO: Gasoline Prices to Rise Between 14-20% in January 2017


P U E R T O    R I C O

FARMACIAS FREDDY: Case Summary & 10 Unsecured Creditors
REBUS CORP: Unsecureds to Recover 1.5% Under Plan
UNIVERSAL DOOR: Disclosure Statement Hearing Set for Feb. 21


T R I N I D A D  &  T O B A G O

PETROTRIN: To Cut Costs in 2017


                            - - - - -


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


* Commodity Prices Pose Challenges to Bolivia Objectives, IMF Says
------------------------------------------------------------------
The Executive Board of the International Monetary Fund (IMF)
concluded the Article IV consultation with Bolivia on Dec. 9,
2016.

Boosted by the commodity boom, Bolivia has experienced substantial
economic and social progress. Growth has been strong, averaging
around 5 percent since 2006, and poverty has fallen by a third.
During this time, the authorities built up sizable buffers and de-
dollarized the financial system to a major extent. However, with
Bolivia remaining one of the most commodity-dependent countries in
the region, sharply lower commodity prices pose challenges to the
implementation of the authorities' development objectives laid out
in their Patriotic Agenda 2025. To advance their plans, the
authorities are using their policy buffers, with the sizable
fiscal and external surpluses that prevailed over the past decade
now turning to large twin deficits.

Real GDP growth is projected at 3.7 percent in 2016, which is
still relatively strong by regional standards. A continued
supportive fiscal policy and rapid credit growth linked to the
Financial Services Law are buttressing activity and offsetting a
major drought and temporary supply shocks in gas production.
However, the fiscal and external current account deficits will
remain wide. In the medium term, growth is expected to converge
towards 3.5 percent, consistent with the new commodity price
normal, amid persistent twin deficits. Risks to this outlook are
tilted to the downside, with the potential for additional weakness
in key emerging markets, further dollar strength, and a larger-
than-expected impact of the drought. Longer-term uncertainties
relate to future oil prices, the extent of natural gas discoveries
and export contract renewals, and the possibility of an excessive
credit growth volatility.

                    Executive Board Assessment

Executive Directors commended the Bolivian authorities for the
sound macroeconomic management and poverty reduction during the
past commodity boom. While slowing, real GDP growth is projected
to remain robust in 2016, on the back of a sizable public
investment program and strong credit growth. Looking ahead,
Directors concurred that the outlook appears increasingly
challenging, with risks tilted to the downside, owing to continued
low commodity prices and growing fiscal and external imbalances.
Given the still sizable buffers, they encouraged the authorities
to plan a carefully measured approach to adjusting to the less
favorable external environment.

Directors underscored the risks arising from Bolivia's large and
widening fiscal deficits. They encouraged the authorities to
improve the non-hydrocarbons primary balance through streamlining
expenditures while increasing their efficiency. Directors
recommended an early transition to a credible medium-term fiscal
framework to continue to assure debt sustainability, while also
accounting for the state of the business cycle and building
cushions to absorb volatility in hydrocarbon prices. They advised
the authorities to ensure the financial health of state-owned
enterprises, exercise greater oversight of their activities, and
strengthen the evaluation and transparency of their investments.

Directors stressed the merits of enhancing the independence of the
central bank, and advised phasing out the central bank's exposures
to the state-owned enterprises to avoid potential conflicts with
the commitment to price stability. Most Directors encouraged
consideration of gradually permitting greater exchange rate
flexibility, which along with structural reforms, would improve
competitiveness, facilitate the adjustment to lower commodity
prices, and protect against possible future external shocks.

Directors welcomed the overall soundness of the financial sector,
and encouraged the authorities to address the growing
vulnerabilities. They considered that the quotas and interest caps
set under the Financial Services Law appear to be inducing banks
to expand credit rapidly, which could lead to greater risks and
undermine financial inclusion. Directors suggested that the
authorities modify key provisions of the regulations to reduce
distortions and avoid an unnecessary buildup of risk. They saw
scope for the authorities to utilize more market-oriented
mechanisms to achieve greater financial inclusion.

Directors agreed that accelerating structural reforms and
improving the business climate are central to improving medium-
term growth prospects. They encouraged the authorities to improve
incentives for hydrocarbons exploration, bring wages back in line
with productivity, and address the severe water shortage.

Directors praised the authorities for the significant declines in
inequality and poverty achieved over the last decade, which should
be preserved. They considered that better targeting and improved
efficiency of social spending could help mitigate the negative
impact of lower commodity prices on inequality and poverty.

As reported in the Troubled Company Reporter-Latin America on July
18, 2016, Fitch Ratings downgraded Bolivia's Long-Term Foreign and
Local Currency Issuer Default Ratings to 'BB-' from 'BB'.  The
Rating Outlook is Stable.  The issue ratings on Bolivia's senior
unsecured Foreign and Local Currency bonds have also been
downgraded to 'BB-' from 'BB'.  The Country Ceiling has been
downgraded to 'BB-' from 'BB' and the Short-Term Foreign Currency
IDR is affirmed at 'B'.



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


BRAZIL: President Temer to Veto Relief for Indebted States
----------------------------------------------------------
Rogerio Jelmayer at The Wall Street Journal reports that President
Michel Temer plans to veto a bill that would have offered relief
to indebted states but would have worsened the central
government's already difficult fiscal situation, a spokesman for
his chief of staff said.

Brazil's Congress approved a bill allowing the renegotiation of
conditions for states' debts with the federal government,
according to The Wall Street Journal.  But lawmakers removed some
austerity measures that the central government wanted to impose on
states accepting the deal, the report notes.

Mr. Temer plans to veto the part of the bill outlining what states
will have to do in return for renegotiating the debt, while
signing the part on the new debt terms, according to the finance
ministry, the report relays.  The administration will negotiate
early next year a proposal that would include some of the
austerity measures that were cut, the ministry said, the report
notes.

The ministry couldn't immediately say if states can begin
negotiations before the new proposal is approved.

A spokesman for Mr. Temer's chief of staff said earlier that the
president would veto the entire bill, then the finance ministry
clarified that only part of the bill will be vetoed, the report
relays.  Brazilian presidents can veto all or parts of bills they
don't like, and Congress can vote again to try to override, the
report says.

Brazil's budget deficit stood at 9.3% of gross domestic product in
November, and gross debt was at 70.5% of GDP, according to the
most recent data available, the report notes.

The bill to be vetoed by the president amounted to a giveaway to
free-spending states, according to Jankiel Santos, an economist at
Haitong Banco de Investimento do Brasil, the report relays.

"It wouldn't make sense to approve the bill without asking the
states for something in return," he said, the report notes.

Lawmakers approved the measure 296 to 12 to provide debt relief
for states including Rio de Janeiro and Rio Grande do Sul, which
are struggling to pay salaries and other daily expenses, the
report discloses.  Many state workers are still waiting to receive
their pay for the month of November, the report adds.

As reported in the Troubled Company Reporter-Latin America on
Nov. 15, 2016, Fitch Ratings has affirmed Brazil's Long-Term
Foreign and Local Currency Issuer Default Ratings (IDRs) at 'BB'/
Negative Outlook.  Brazil's senior unsecured Foreign- and Local-
Currency bonds are also affirmed at 'BB'. The Country Ceiling is
affirmed at 'BB+' and the Short-Term Foreign and Local-Currency
IDRs at 'B'.


CEMIG GERACAO: Moody's Rates BRL2.24BB Debentures Due 2021 'B1'
---------------------------------------------------------------
Moody's America Latina Ltda. has assigned a B1 global scale rating
and a Baa1.br national scale rating to the BRL2.24 billion senior
secured debentures due in 2021, to be issued by Cemig Geracao e
Transmissao S.A.("Cemig GT", or "the company"). Proceeds from the
issuance will be used to repay existing debt outstanding. Cemig
GT's B1/Baa1.br corporate family ratings (CFR) are unaffected. The
outlook for the ratings is negative.

The assigned ratings are based on preliminary documentation
received by Moody's as of the rating assignment date. Moody's does
not expect changes to the documentation reviewed over this period
nor does it anticipate changes in the main conditions that the
debentures will carry. Should issuance conditions and/or final
documentation of the debentures deviate from the original ones
submitted and reviewed by the rating agency, Moody's will assess
the impact that these differences may have on the ratings and act
accordingly.

                         RATINGS RATIONALE

The B1/Baa1.br ratings for the proposed BRL 2.24 billion
debentures due 2021 reflect : (i) Cemig GT's weakening credit
metrics driven by the loss of significant generation capacity, the
impact of the economic recession and high borrowing costs
evidenced by Moody's adjusted cash flow from operations (CFO)
interest coverage and CFO-to-Debt dropping to 1.8x and 9.4%
respectively in the twelve months ended 30 September 2016 from
3.5x and 25.8% in FY2015, (ii) weak liquidity reflected in the
high portion of debt maturing in the next two years (51% of debt
outstanding following the transaction) and expectations that the
company will generate negative free cash flow until 2018, (iii)
high leverage at Cemig GT's parent level Companhia Energetica de
Minas Gerais ("CEMIG"), on a consolidated basis with a Net Debt to
EBITDA of 4.5x reported in September 2016, and (iv) rising risk of
interference from CEMIG's majority shareholder the state of Minas
Gerais (B1 negative) given its financial position.

The assigned ratings also take into consideration : (i) Cemig GT's
solid market positioning and diversity of operations within the
generation and transmission segments, (ii) expectations that
hydrology conditions and a more supportive regulatory environment
will drive a more benign cost environment for the hydropower
generation assets going forward, (iii) the significant value of
assets and equity participation at both Cemig GT and CEMIG's
levels which supports the group's asset sale strategy, and (iv) a
relatively good access to debt and capital market evidenced by a
track record of successful debt refinancing, although at higher
costs recently.

The proposed debentures will be fully guaranteed by CEMIG and
secured by a variety of assets including (i) receivables from the
company's sale of energy supply for a minimum of BRL 300 million,
(ii) concession rights relative to the 18 hydro plants concessions
(which accounts for 10.3% of Cemig GT's total installed capacity)
that the company won at an auction in December 2015, and (iii)
pledge of shares of the companies that run the abovementioned 18
hydro plants. To the extent that the value those assets does not
cover at least 120% of the outstanding amount of the debentures
the company will be required to complement the collateral by
choosing from (iv) pledge of shares of CEMIG's participation in
unlisted companies Companhia de Gas de Minas Gerais (up to 49%),
Alianáa Geraáao de Energia S.A (45%) and in the hydro project
under construction Santo Antonio Energia S.A (18%), as well was
from (v) rights to receive future compensation from the regulator
to account for unamortized investments on transmission
concessions. The value of the collateral will be assessed on an
annual basis from December 2016, and a bi-annual basis from
December 2018 onwards.

Despite the secured nature of the debentures, Moody's has not
differentiated the ratings of the 2021 debentures from those of
the company's other obligations due to uncertainties related to
the limited liquidity of certain assets and ultimate value that
might be realized in the event of default. In Moody's view, the
annual verification of the 120% collateral coverage leaves room
for a sudden reduction in the value of securitized assets and the
recovery rate in a distress scenario. The agency also notes that
Cemig GT has 90 days following issuance of the debentures to
constitute such collateral and that the mechanism over the
transfer of rights to creditors as described by the indentures is
yet to be defined at a later stage in a separate agreement.

The debentures include standard debt acceleration clauses among
which the non-payment by Cemig GT or CEMIG of any financial
obligation above BRL 100 million, change of the company's control
and the termination of concession contracts, with the exception of
Sao Simao, Jaguara and Miranda. The debentures also include
financial covenants consisting of a Net Debt to EBITDA ratio
(including dividend payments from subsidiaries and cash payments
from the compensation of unamortized transmission assets) set at
5.5x starting in June 2017 and ratcheting down every year to reach
2.5x in June 2021 for Cemig GT, and at 4.5x in June 2017 gradually
declining to 2.5x in June 2021 for CEMIG on a consolidated basis.

Moody's views Cemig GT's liquidity profile as weak. While the
proceeds from the transaction will be entirely used to refinance
existing debt obligations coming due in Q4 2016, and therefore
lengthen the company's amortization schedule, the company will
face BRL3 billion of other debt maturities during 2017, which
compares to a cash & cash equivalents position of only BRL588
million (including cash and short-term investments) as of 30
September 2016.

Moody's anticipates that the company will generate negative free
cash flow in 2017, driven by the on-going weakening of operating
performance and by the dividend contribution expected to be
upstreamed by the company to support CEMIG's plan to payout the
put option relative to shares of the distribution company Light
S.A (B1/Baa3.br, negative) in 2017. The negative free cash flow
will leave the company to rely mainly on debt refinancing and on
potential asset sales to service its debt in the next 12-18
months. Like most Brazilian companies, Cemig GT does not have
committed stand-by liquidity facilities to meet unexpected cash
outlays in the short term. While Cemig GT has a successful track
record in raising financing in the local capital markets as well
as securing short-term bank financing when needed, Moody's expects
the extension of its debt maturity profile will increasingly
depend on the its ability to diversify its funding pool and offer
guarantees. In that regard Moody's notes that 40% of proceeds
derived from future cross-border bond issuances by Cemig GT and
asset sales made by Cemig GT or by its parent company CEMIG, will
be used to pre-pay the 2021 debentures.

                          Rating Outlook

The negative outlook reflects Moody's expectations that the
deterioration of operating performance and negative free cash flow
generation will continue to put negative pressure on the company's
liquidity profile over the next 12 to 18 months.

What Could change the Rating Up/Down

In light of the negative outlook, an upgrade of the ratings is
unlikely in the near term. A stabilization of the outlook could be
considered upon visible improvements in Cemig GT's liquidity
profile, and operating performance such that cash flow interest
coverage ratio exceeds 3.0x, and CFO-to- debt remains above 20% on
a sustainable basis.

Further deterioration in Cemig GT's liquidity profile such that
Cemig GT face challenges in extending the average tenor of its
debt maturity profile, either with internally generated cash flows
or via alternative sources of funding could lead to a downgrade of
the assigned debentures ratings. Negative pressure could also
arise upon a breach of financial covenants as stated under the
2021 debentures, and/or evidence of cash flow impact resulting
from interference with the majority shareholder the state
government of Minas Gerais would also exert negative pressure on
the ratings

Headquartered in Belo Horizonte, the capital city of the state of
Minas Gerais, Cemig GT is a leading Brazilian integrated utility
operating in the sectors of electricity generation and
transmission, with total installed capacity of 6,819 MW and
4,926km of transmission lines across the country. In the last
twelve months ended on September 30, 2016, CEMIG GT reported net
revenues and EBITDA of BRL 6,8 billion and BRL 2.6 billion
respectively.

The principal methodology used in this rating was Unregulated
Utilities and Unregulated Power Companies published in October
2014.



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


ANGALO HOLDINGS: Commences Liquidation Proceedings
--------------------------------------------------
The shareholders of Angalo Holdings Limited resolved to
voluntarily liquidate the company's business on Sept. 6, 2016.

Only creditors who were able to file their proofs of debt by
Oct. 17, 2016, will be included in the company's dividend
distribution.

The company's liquidator is:

          Delio Jose De Leon Mela
          Salduba Building, Third Floor
          53rd East Street
          Marbella, Panama City
          Panama
          Telephone: (507) 269-2641
          Facsimile: (507) 263-8079


CHESTER GLOBAL: Placed Under Voluntary Wind-Up
----------------------------------------------
The sole shareholder of Chester Global Strategy (Indemnity) SPV
Ltd. resolved to voluntarily wind up the company's operations on
Nov. 25, 2016.

Only creditors who were able to file their proofs of debt by
Dec. 27, 2016, will be included in the company's dividend
distribution.

The company's liquidator is:

          Stuarts Walker Hersant Humphries
          P.O. Box 2510 Grand Cayman KY1-1104
          Cayman Islands
          Telephone: (345) 949 3344
          Facsimile: (345) 949 2888


IRONGATE GLOBAL: Placed Under Voluntary Wind-Up
-----------------------------------------------
The sole shareholder of Irongate Global Strategy (Indemnity) SPV
Ltd. resolved to voluntarily wind up the company's operations on
Nov. 25, 2016.

Only creditors who were able to file their proofs of debt by
Dec. 27, 2016, will be included in the company's dividend
distribution.

The company's liquidator is:

          Stuarts Walker Hersant Humphries
          P.O. Box 2510 Grand Cayman KY1-1104
          Cayman Islands
          Telephone: (345) 949 3344
          Facsimile: (345) 949 2888


KED MINING: Placed Under Voluntary Wind-Up
------------------------------------------
The shareholders of Ked Mining Holdings, Ltd. resolved to
voluntarily wind up the company's operations on Nov. 25, 2016.

Only creditors who were able to file their proofs of debt by
Dec. 27, 2016, will be included in the company's dividend
distribution.

The company's liquidator is:

          Stuarts Walker Hersant Humphries
          P.O. Box 2510 Grand Cayman KY1-1104
          Cayman Islands
          Telephone: (345) 949 3344
          Facsimile: (345) 949 2888


LVRF FUNDING I: Commences Liquidation Proceedings
-------------------------------------------------
At an extraordinary meeting held on Nov. 18, 2016, the
shareholders of LVRF Funding I Ltd resolved to voluntarily
liquidate the company's business.

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

The company's liquidator is:

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


MONKS REST: Commences Liquidation Proceedings
---------------------------------------------
The shareholders of Monks Rest Ltd. resolved to voluntarily
liquidate the company's business on Nov. 22, 2016.

Only creditors who were able to file their proofs of debt by
Dec. 26, 2016, will be included in the company's dividend
distribution.

The company's liquidator is:

          Forbes Hare Trust Company Limited
          c/o J. Barry Smith and Margaret Thompson
          Suite 716, 10 Market Street
          Cassia Court, Camana Ba
          Grand Cayman KY1-9006
          Cayman Islands
          Telephone: (345) 943 7700


MWAM CBO 2001-1: Commences Liquidation Proceedings
--------------------------------------------------
At an extraordinary meeting held on Nov. 18, 2016, the
shareholders of MWAM CBO 2001-1. Ltd resolved to voluntarily
liquidate the company's business.

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

The company's liquidator is:

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


NUFU DEAL: Commences Liquidation Proceedings
--------------------------------------------
At an extraordinary meeting held on Nov. 18, 2016, the
shareholders of Nufu Deal Limited resolved to voluntarily
liquidate the company's business.

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

The company's liquidator is:

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


ORMARYD INSURANCE: Commences Liquidation Proceedings
----------------------------------------------------
The sole shareholder of Ormaryd Insurance Company SPC resolved to
voluntarily liquidate the company's business on Nov. 15, 2016.

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

The company's liquidator is:

          William Alt
          Tyden Group, Inc.
          161 Ottawa NW, Suite 502
          Grand Rapids, MI 49503
          USA
          Telephone: (616) 617 3183


POTOMAC RIVER: Placed Under Voluntary Wind-Up
---------------------------------------------
The sole shareholder of Potomac River Capital Fund 2, Ltd.
resolved to voluntarily wind up the company's operations on Nov.
25, 2016.

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

The company's liquidator is:

          Potomac River Capital LLC
          c/o Daniella Skotnicki
          89 Nexus Way, Camana Bay
          Grand Cayman KY1-9009
          Cayman Islands
          Telephone: +1 (345) 949 9876
          Facsimile: +1 (345) 949-9877


PROTECTED CREDIT: Commences Liquidation Proceedings
---------------------------------------------------
At an extraordinary meeting held on Nov. 18, 2016, the
shareholders of Protected Credit Notes Limited resolved to
voluntarily liquidate the company's business.

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

The company's liquidator is:

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


ROBUS GERMAN: Creditors' Proofs of Debt Due Jan. 5
--------------------------------------------------
The creditors of Robus German Credit Special Situations Offshore
Fund, Ltd. are required to file their proofs of debt by Jan. 5,
2017, to be included in the company's dividend distribution.

The company commenced liquidation proceedings on Nov. 24, 2016.

The company's liquidator is:

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


URSA COMPANY: Creditors' Proofs of Debt Due Jan. 5
--------------------------------------------------
The creditors of Ursa Company Ltd. are required to file their
proofs of debt by Jan. 5, 2017, to be included in the company's
dividend distribution.

The company commenced liquidation proceedings on Nov. 7, 2016.

The company's liquidator is:

          Simon Conway
          c/o Ryan Murray
          P.O. Box 258 Grand Cayman KY1-1104
          Cayman Islands
          Telephone: (345) 914 8789
          Facsimile: (345) 945 4237


WOODSFORD ASSET: Placed Under Voluntary Wind-Up
-----------------------------------------------
The sole shareholder of Woodsford Asset Allocator Fund resolved to
voluntarily wind up the company's operations on Nov. 25, 2016.

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

The company's liquidator is:

          Zhijian Wu
          c/o Jonathan Morris
          Ogier
          Central Tower, 11th Floor
          28 Queen's Road Central
          Central
          Hong Kong
          Telephone: +852 3656 6015
          Facsimile: +852 3656 6001



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


MEXICO: Gasoline Prices to Rise Between 14-20% in January 2017
--------------------------------------------------------------
EFE News reports that the Mexican government disclosed that
gasoline prices will increase between 14-20 percent in January
2017, an increase forecast by the Pemex state oil company, and
before the liberalizing of prices in the sector begins next March.

According to the Mexican Secretariat of Finance and Public Credit
(SHCP), "these new price ceilings represent increases for Magna
and Premium gasolines and diesel fuel of 14.2 percent, 20.1
percent and 16.5 percent, respectively, compared with the maximum
prices seen in December 2016, EFE News notes.



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


FARMACIAS FREDDY: Case Summary & 10 Unsecured Creditors
-------------------------------------------------------
Debtor: Farmacias Freddy, Inc.
        PO Box 97
        Naguabo, PR 00718

Case No.: 16-09980

Chapter 11 Petition Date: December 23, 2016

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

Judge: Hon. Brian K. Tester

Debtor's Counsel: Jesus Enrique Batista Sanchez, Esq.
                  THE BATISTA LAW GROUP, PSC
                  Cond Midtown Center
                  420 Juan Ponce De Leon Ave, Suite 901
                  San Juan, PR 00918
                  Tel: 787-620-2856
                  Fax: 787-620-2854
                  E-mail: jesus.batista@batistalawgroup.com

Total Assets: $646,094

Total Debt: $1.05 million

The petition was signed by Ivan Garcia, president.

A copy of the Debtor's list of 10 unsecured creditors is available
for free at http://bankrupt.com/misc/prb16-09980.pdf


REBUS CORP: Unsecureds to Recover 1.5% Under Plan
-------------------------------------------------
Rebus Corp. filed with the U.S. Bankruptcy Court for the District
of Puerto Rico an amended disclosure statement dated June 30,
2016.

Holders of Class 4 General Unsecured Claims include those listed
by the Debtor and those who have filed proof of claims.  General
unsecured creditors listed by Debtor and filed proof of claims
total the amount of $2,348,314.02.  The total unsecured claims
subject to distribution is $1,401,872.67.

Class 4 claimants will receive from the Debtor a non-negotiable,
interest bearing at 3.5% annually, promissory note dated as of the
Effective Date.  Creditors in this class will receive a total
repayment of 1.5% of their claimed or listed debt which equals
$22,000, to be paid pro rata to all allowed claimants under this
class.  Unsecured Creditors will receive yearly of $5,170 ncluding
interests to be distributed pro rata among them, for the term of 5
years.  The first payment will be made 8 months after the
confirmation of this Plan.  This class is impaired.

The Disclosure Statement is available at:

            http://bankrupt.com/misc/prb16-02891-56.pdf

The Plan was filed by the Debtor's counsel:

     Homel A. Mercado Justiniano, Esq.
     Calle Ramirez Silva No. 8
     Ensanche Martinez
     Mayagnez, PR 00680
     Tel: (787) 831-3577
     Fax: (787) 805-7350
     E-mail: hmjlaw2@gmail.com

                        About Rebus Corp.

Rebus Corp. sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D.P.R. Case No. 16-02891) on April 13, 2016.  The
petition was signed by Pedro Martinez, president.

The case is assigned to Judge Brian K. Tester.

At the time of the filing, the Debtor estimated its assets at
$500,000 to $1 million and debts at $1 million to $10 million.


UNIVERSAL DOOR: Disclosure Statement Hearing Set for Feb. 21
------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Puerto Rico is set
to hold a hearing on Feb. 21, at 10:00 a.m., to consider approval
of the disclosure statement explaining the Chapter 11 plan of
Universal Door and Window Manufacture Inc.

Objections to the disclosure statement must be filed not less than
14 days prior to the hearing.

Universal Door is represented by:

     Winston Vidal-Gambaro, Esq.
     Winston Vidal Law Office
     P.O. Box 193673
     San Juan, PR 00919-3673
     Tel: (787) 751-2864
     Fax: (787) 763-6114
     Email: wvidal@prtc.net

                      About Universal Door

Universal Door and Window Manufacture Inc. sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. D. P.R. Case No.
15-01120) on February 19, 2015.  The petition was signed by Evelio
Crespo Traverzo, president and treasurer.

The case is assigned to Judge Enrique S. Lamoutte Inclan.

At the time of the filing, the Debtor disclosed $1.54 million in
assets and $2.86 million in liabilities.



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


PETROTRIN: To Cut Costs in 2017
-------------------------------
Richardson Dhalai at Trinidad and Tobago Newsday reports that with
global oil prices continuing to hover between US$50-$55 per
barrel, Petroleum Company of Trinidad and Tobago (Petrotrin)
Chairman Professor Andrew Jupiter has vowed to ensure the state-
owned oil company would continue to implement cost-cutting
measures in 2017.

In an end of year message, Mr. Jupiter observed the company's
2015-2016 annual budget had been developed and approved against
stringent cost-cutting directives with the focus on "lean and
efficient operations" where manpower and overtime costs were
reduced during that period, according to Trinidad and Tobago
Newsday.

Mr. Jupiter noted manpower expenses had been reduced by TT$132
million while overtime expenses were cut by TT$5 million, the
report relays.  The overall operating expenditure for the 2015-16
period was reduced by TT$500 million with a further reduction of
TT$500 million in capital expenditure, the report notes.

The chairman stated in a release, "In 2017, Petrotrin will
continue to build upon the foundation established in the previous
fiscal period. The company will continue to adjust its operations
in response to the market outlook and will pursue opportunities to
reduce operating expenses by another US$500 million (TT$3.2
billion)," the report discloses.  There would be an increased
focus on asset integrity improvements and enhanced safety
performance throughout the company's operations, Mr. Jupiter said,
while exploratory drilling is expected to continue on the
company's acreage while making use of seismic data, the report
notes.   The completion of the Ultra- Low Sulphur Diesel Plant, a
key component of the refinery upgrade, was also a top priority as
it was expected to increase revenue in the downstream industry,
the chairman stated, the report says.

The report relays Mr. Jupiter stated, "As the chairman of the
board of directors, we give our commitment in 2015, and, we repeat
that commitment in 2016 to support the continued development of
this business, the bedrock of the oil industry in Trinidad and
Tobago. We give our commitment also to continue in the spirit of
transparency and accountability, working closely with all
stakeholders in the interest of strengthening and sustaining our
company for future generations."

                       About Petrotrin

Petroleum Company of Trinidad and Tobago is the major state-owned
oil company in Trinidad and Tobago.  The company was established
in 1993 by the merger of Trintopec and Trintoc, two state-owned
oil companies.  Petrotrin's main holdings are extensive, mature
onshore fields located across southern Trinidad.  Large areas
have been leased out to small private producers who are able to
make a profit on wells that are unprofitable for Petrotrin,
giving it higher labor costs.  The company operates a refinery at
Pointe-Pierre, just north of San Fernando in south Trinidad.
Most crude petroleum produced in Trinidad is exported without
being refined. The refinery depends on imported crude (mostly
from Venezuela), which is either used domestically or exported.

                         *     *     *

As reported in the Troubled Company Reporter-Latin America on July
23, 2015, Trinidad Express reports that state-owned Petroleum
Company of Trinidad and Tobago (Petrotrin) multiplied its losses
11.2 times to reach US$168 million for the nine months ended June
30 compared to US$15 million loss for the same period last year,
but its earnings before income tax, depreciation and amortisation
(EBITDA) rose 132 per cent between March and June, preliminary
financials show.

TCRLA reported on Dec. 2, 2014, that Trinidad and Tobago Newsday
said that in the face of falling global oil prices, which is
starring to impact on Trinidad and Tobago's earnings from its
petroleum resources, Petroleum Company of Trinidad and Tobago has
rolled out a plan to remain viable and to survive in the harsh
global oil industry.  Petrotrin said in a media release that it is
forging ahead with objective cost management decisions imperative
to secure its viability, according to Trinidad and Tobago Newsday.
The report said Petrotrin's operations have also been severely
impacted due to unfavorable margins.

The TCRLA reported on Jan. 21, 2014 that Trinidad Express, citing
Energy Minister Kevin Ramnarine, said Petrotrin will make a loss
for its 2013 financial year.  According to Mr. Ramnarine,
Petrotrin was scheduled to make the loss even before the series of
oil spills affecting Trinidad's southwestern peninsula since
December, reports Trinidad Express.


                            ***********


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

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

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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
co-published by Bankruptcy Creditors' Service, Inc., Fairless
Hills, Pennsylvania, USA, and Beard Group, Inc., Washington, D.C.,
USA, Marites O. Claro, Joy A. Agravante, Rousel Elaine T.
Fernandez, Valerie U. Pascual, Julie Anne L. Toledo, and Peter A.
Chapman, Editors.

Copyright 2016.  All rights reserved.  ISSN 1529-2746.

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

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

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


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