TCRLA_Public/170127.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, January 27, 2017, Vol. 18, No. 020


                            Headlines



B A H A M A S

BAHAMAS: To Get $35MM IDB Loan to Improve Airport Infrastructure


B R A Z I L

EIKE BATISTA: Brazil Judge Issues Arrest Warrant
OURO VERDE: Fitch Withdraws 'BB-' Foreign Currency Long-Term IDR


B A R B A D O S

BARBADOS: Foreign Reserves at Lowest Level in More Than a Decade


C A Y M A N  I S L A N D S

ALPINE FUND: Shareholders Receive Wind-Up Report
AMA FUND: Shareholders Receive Wind-Up Report
AQUAMARINE HOLDINGS: Shareholders Receive Wind-Up Report
BLACKSTONE ABS: Shareholders Receive Wind-Up Report
BLACKSTONE RE: Shareholders Receive Wind-Up Report

CHARM COMMUNICATIONS: Shareholders Receive Wind-Up Report
CLOUGH EMETH: Shareholders Receive Wind-Up Report
DAYA HOLDINGS: Shareholders Receive Wind-Up Report
MOF HOLDINGS: Shareholders Receive Wind-Up Report
PIERPOINT HOLDINGS: Shareholders Receive Wind-Up Report

PRIVATE EQUITY: Shareholders Receive Wind-Up Report
PYXIS FINANCE: Shareholders Receive Wind-Up Report
RTL HOLDINGS: Shareholders Receive Wind-Up Report
SENATE LIMITED: Shareholders' Final Meeting Set for June 30
TRG ASIA: Members Receive Wind-Up Report

TRG ASIA MASTER: Members Receive Wind-Up Report
TRG LOCAL: Members Receive Wind-Up Report
TRG LOCAL MASTER: Members Receive Wind-Up Report


D O M I N I C A N   R E P U B L I C

DOMINICAN REPUBLIC: Chief Digs in Call to Nix Severance Pay


E C U A D O R

ECUADOR: Gets $60MM IDB Loan to Rebuild Infrastructure


P U E R T O    R I C O

ECRA GROUP: Unsecureds to Recover 3% in Five Years
ESTEBAN BEAUTY: Needs Additional 90 Days to Confirm Plan
ESTEBAN BEAUTY: Disclosures Conditionally OK'd; Hearing on Feb. 17
FARMACIA SAN JUSTO: Unsecureds to Recover 30% Under Plan
GENERAL MOTRIZ: Plan Confirmation Hearing on Feb. 22


T R I N I D A D  &  T O B A G O

TRINIDAD & TOBAGO: Rank Worsens in Corruption Index 2016


                            - - - - -


=============
B A H A M A S
=============


BAHAMAS: To Get $35MM IDB Loan to Improve Airport Infrastructure
----------------------------------------------------------------
The Inter-American Development Bank has approved a $35 million
loan designed to improve infrastructure at four airports on the
Family Islands, as The Bahamas' less developed outer islands are
known.

The loan will contribute to the archipelago's regional and
international integration through upgrades at the airports of
Exuma, North Eleuthera, Marsh Harbour and Treasure Cay.

The project will finance modernization and maintenance of the
airports, including a wide range of aviation and infrastructure
improvements such as visual aids, lighting, runway beacons, mobile
airport equipment, parking platforms and passenger terminals. It
will also take into account adaptation to and mitigation of
climate change in the construction work to be undertaken.

Air transport plays a key role in the economic integration of the
Bahamas as it is the main way for tourists to reach the
archipelago. It also allows people living on the FamilyIslands to
have access to goods and services offered only on New Providence,
the island on which 70 percent of the country's population lives,
or overseas.

The IDB loan is over 25 years, with a 5.5-year grace period and a
LIBOR-based interest rate.



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


EIKE BATISTA: Brazil Judge Issues Arrest Warrant
------------------------------------------------
Rogerio Jelmayer at The Wall Street Journal reports that Brazil's
police raided the Rio de Janeiro home of Eike Batista, once the
country's richest man, after a judge issued an arrest warrant for
the Brazilian businessman in relation to a wide-ranging corruption
scandal.

Brazilian authorities said they are looking to arrest nine people,
including Mr. Batista, as part of the investigation, according to
The Wall Street Journal.  The former billionaire wasn't at home
when police arrived, a police spokesman said.

The arrest warrant follows allegations that Mr. Batista paid
bribes during the administration of Rio de Janeiro Gov. Sergio
Cabral, from 2007 to 2014, the report notes.  Prosecutors didn't
say what Mr. Batista allegedly received in return, the report
relays.

Mr. Batista paid $16.5 million in bribes to Mr. Cabral, ostensibly
for his role as an intermediary in the sale of a gold mine,
prosecutors said without providing more information on the deal,
according to the report.  The money was deposited in a bank in
Uruguay in the name of third parties, but was available to Mr.
Cabral, prosecutors said, the report discloses.

Mr. Batista acted in a "sophisticated and repeated way" to conceal
illegal payments, prosecutors said in a statement, the report
relays.

Sergio Bermudes, a civil lawyer for Mr. Batista, said the
businessman was outside Brazil but that he didn't know in which
country his client was, the report notes.  Mr. Bermudes referred
further questions to Mr. Batista's criminal lawyer, who wasn't
immediately available for comment.

Mr. Cabral was arrested in November as part of the same
investigation into alleged bribery and misuse of government money,
the report discloses.  The former governor, who remains in prison,
has denied wrongdoing, the report notes.

Mr. Batista in recent years has sold assets and dismantled his
former industrial group to pay off his companies' debt, after an
empire formed by oil, mining and logistics firms collapsed, the
report says.  His net worth plummeted, and in 2013, Forbes
reported he was no longer a billionaire, the report relays.

Mr. Batista is the latest high-profile businessman to be ensnared
in the anticorruption efforts by local authorities, which have led
to prison sentences for a string of executives who were convicted
of illegally benefiting from government and state-run firms
contracts, the report notes.  They include construction executive
Marcelo Odebrecht, the former chief executive of Brazil's largest
construction company, Odebrecht SA, who was sentenced to 19 years
upon conviction on charges of money laundering, corruption and
conspiracy, the report relays.

The arrests and prison sentences are positive for Brazil, said
Paulo Petrassi, a partner of investment firm Leme Investimentos.

"This shows that nobody, even rich people, are above the law," he
said.  "Powerful businessmen who are planning to commit wrongdoing
will think twice before going ahead," he added.

Brazilian prosecutors said in September that Mr. Batista paid
bribes of $2.35 million to the presidential campaign of former
President Dilma Rousseff in 2010, the report relays.  The
prosecutors, who are leading Brazil's so-called Operation Car Wash
investigation centered on embezzlement at state oil company
Petroleo Brasileiro SA, said Mr. Batista came forward
"spontaneously" to offer them the information in June 2016, the
report notes.

Ms. Rousseff has denied wrongdoing in the Petrobras affair. Mr.
Batista didn't comment on the reports at that time.

Prosecutors filed no charges against Mr. Batista at the time and
said they were investigating the alleged payment, the report
discloses.  The operation is an offshoot of the sprawling Car Wash
probe.


OURO VERDE: Fitch Withdraws 'BB-' Foreign Currency Long-Term IDR
-----------------------------------------------------------------
Fitch Ratings has withdrawn its expected debt issuance rating for
Ouro Verde Locacao e Servico S.A. as its forthcoming debt issuance
is no longer expected to convert to final ratings.

Fitch rates Ouro Verde as follows:

Ouro Verde Locacao e Servico S.A.

-- Foreign Currency Long-Term IDR 'BB-';
-- Local Currency Long-Term IDR 'BB-';
-- National long-term rating 'A(bra)';
-- Local Debentures due 2018 and 2019 'A(bra)'.

The Rating Outlook is Stable.



===============
B A R B A D O S
===============


BARBADOS: Foreign Reserves at Lowest Level in More Than a Decade
----------------------------------------------------------------
Caribbean360.com reports that Barbados' foreign reserves have
fallen to the lowest level in 14 years, according to Governor of
the Central Bank of Barbados Dr. DeLisle Worrell.

However, Worrell sought to calm nerves by revealing that
Government was anticipating over $250 million, although he did not
say how much of that cash would come before the end of the current
fiscal year, which ends March 31, according to Caribbean360.com.

In delivering his latest report on the economy, the Governor said
the reserves had fallen below the benchmark 12 weeks of import,
standing at about 10.3 weeks, the report notes.

The $681 million in reserves at the end of December 2016 was $246
million less than the $927 million -- or 14 weeks of imports --
recorded at the end of 2015, the report relays.

The extent of the problem was further manifested in the amount
collected through foreign finance last year, which was
approximately one-third of the total collected the previous year,
the report discloses.

And while the private sector performed a lot better, its intake
was also lower than in 2015, the report relays.

"There was an estimated net inflow of foreign finance of $132
million, 256 million lower than in 2015.  Inflows by private
sector entities were $379 million, $90 million lower than in
2015," the report quoted Mr. Worrell as saying.

"Foreign financing for the public sector was also lower because
select project inflows did not materialize due to administrative
delays. Government's repayments were higher than in the previous
year, exceeding the amount of inflows by $170 million," he added.

Even in the face of an economy which was estimated to have grown
by 1.6 per cent, along with a fall in unemployment to ten per cent
for the four quarters ending in September 2016 and a rise in
receipts from Value Added Tax (VAT), Government continued to
struggle to earn revenue, Worrell disclosed, the report notes.

The current account deficit for April to December fell by $31
million to an estimated $510 million, while revenue declined by $6
million, mainly due to a $17 million decrease in earnings from
personal income, the report relays.

Current expenditure increased by $25 million, while transfers to
state-owned enterprises fell by $17 million, although interest
payments rose by $53 million.  Capital expenditure fell by $36
million and the overall fiscal deficit, estimated at $665 million,
was $5 million smaller, he said, the report says.

Still, the Freundel Stuart administration continued to rely on
Central Bank funding to drive down the debt owed to private
individuals and companies, with Mr. Worrell blaming the fact that
Government had spent more on the current account than it had
received in taxes and other current receipts, the report notes.

"Government's dependence on the Central Bank to finance its
deficit limits the Bank's ability to influence interest rates
appropriate for Barbados' circumstances, as is the standard
practice used by central banks everywhere," Mr. Worrell said, the
report notes.

The Governor's report revealed that the country's debt to private
individuals, companies and public entities stood at $4.9 billion,
or 53 per cent of gross domestic product as at the end of December
last year, the report discloses.

The economist did not give an estimated growth rate for this year,
but said the prognosis "for the next five years continues to be
about two per cent", driven by $2.6 billion in tourism,
infrastructure, energy and housing projects, the report adds



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


ALPINE FUND: Shareholders Receive Wind-Up Report
------------------------------------------------
The shareholders of Alpine Fund Management Ltd. received on
Jan. 12, 2017, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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


AMA FUND: Shareholders Receive Wind-Up Report
---------------------------------------------
The shareholders of AMA Fund Holdings (Cayman) Ltd. received on
Jan. 12, 2017, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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


AQUAMARINE HOLDINGS: Shareholders Receive Wind-Up Report
--------------------------------------------------------
The shareholders of Aquamarine Holdings (Cayman) Ltd. received on
Jan. 12, 2017, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

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


BLACKSTONE ABS: Shareholders Receive Wind-Up Report
---------------------------------------------------
The shareholders of Blackstone ABS Offshore Fund Ltd. received on
Jan. 12, 2017, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

          Patrick Agemian
          Walkers
          190 Elgin Avenue George Town
          Grand Cayman KY1-9001
          Cayman Islands
          Telephone: (345) 914 6365


BLACKSTONE RE: Shareholders Receive Wind-Up Report
--------------------------------------------------
The shareholders of Blackstone Re Offshore Fund Ltd. received on
Jan. 12, 2017, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidator is:

          Patrick Agemian
          Walkers
          190 Elgin Avenue George Town
          Grand Cayman KY1-9001
          Cayman Islands
          Telephone: (345) 914 6365


CHARM COMMUNICATIONS: Shareholders Receive Wind-Up Report
---------------------------------------------------------
The shareholders of Charm Communications Inc. received on Jan. 10,
2017, the liquidator's report on the company's wind-up proceedings
and property disposal.

The company's liquidator is:

          Richard Fear
          c/o Kevin Butler
          P.O. Box 2681 Grand Cayman KY1-1111
          Cayman Islands
          Telephone: (345) 814 7374
          Facsimile: (345) 945 3902


CLOUGH EMETH: Shareholders Receive Wind-Up Report
-------------------------------------------------
The shareholders of Clough Emeth Cayman, Ltd. received on Jan. 9,
2017, the liquidator's report on the company's wind-up proceedings
and property disposal.

The company's liquidator is:

          Austin C. McClintock
          Walkers
          190 Elgin Avenue George Town
          Grand Cayman KY1-9001
          Cayman Islands
          Telephone: (345) 914 6386


DAYA HOLDINGS: Shareholders Receive Wind-Up Report
--------------------------------------------------
The shareholders of Daya Holdings Limited received on Jan. 20,
2017, the liquidator's report on the company's wind-up proceedings
and property disposal.

The company's liquidators are:

          Lyndsey Mcgillivray
          Mark Bouteloup
          Citron 2004 Limited
          23-25 Broad Street St Helier
          Jersey JE4 8ND
          Telephone: + 44 1534 282276
          Facsimile: + 44 1534 282400


MOF HOLDINGS: Shareholders Receive Wind-Up Report
-------------------------------------------------
The shareholders of MOF Holdings Ltd received on Jan. 12, 2017,
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

          MOF Management LLC
          c/o Monarch Alternative Capital LP
          535 Madison Avenue
          New York
          New York 10022
          United States of America
          Telephone: +1 (212) 554 1769


PIERPOINT HOLDINGS: Shareholders Receive Wind-Up Report
-------------------------------------------------------
The shareholders of Pierpoint Holdings Limited received on
Jan. 20, 2017, the liquidator's report on the company's wind-up
proceedings and property disposal.

The company's liquidators are:

          Lyndsey Mcgillivray
          Mark Bouteloup
          Citron 2004 Limited
          23-25 Broad Street St Helier
          Jersey JE4 8ND
          Telephone: + 44 1534 282276
          Facsimile: + 44 1534 282400


PRIVATE EQUITY: Shareholders Receive Wind-Up Report
---------------------------------------------------
The shareholders of Private Equity Concentrated Energy II Offshore
Advisors, Inc. received on Jan. 12, 2017, the liquidator's report
on the company's wind-up proceedings and property disposal.

The company's liquidator is:

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


PYXIS FINANCE: Shareholders Receive Wind-Up Report
--------------------------------------------------
The shareholders of Pyxis Finance Limited received on Jan. 26,
2017, the liquidator's report on the company's wind-up proceedings
and property disposal.

The company's liquidator is:

          Simon Conway
          c/o Andrew Nembhard
          P.O. Box 258 Grand Cayman KY1-1104
          Cayman Islands
          Telephone: (345) 914 8779
          Facsimile: (345) 945 4237


RTL HOLDINGS: Shareholders Receive Wind-Up Report
-------------------------------------------------
The shareholders of RTL Holdings Ltd. received on Jan. 12, 2017,
the liquidator's report on the company's wind-up proceedings and
property disposal.

The company's liquidator is:

          Avalon Ltd.
          Landmark Square, 1st Floor, 64 Earth Close
          P.O. Box 715, Grand Cayman KY1-1107
          Cayman Islands
          Facsimile: +1 (345) 769-9351


SENATE LIMITED: Shareholders' Final Meeting Set for June 30
-----------------------------------------------------------
The shareholders of Senate Limited will hold their final meeting
on June 30, 2017, 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:

          Matthew Wright
          c/o Omar Grant
          Windward 1, Regatta Office Park
          P.O. Box 897 Grand Cayman KY1-1103
          Cayman Islands
          Telephone: (345) 949-7576
          Facsimile: (345) 949-8295


TRG ASIA: Members Receive Wind-Up Report
----------------------------------------
The members of TRG Asia Opportunity Intermediate Fund, Ltd.
received on Jan. 20, 2017, 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


TRG ASIA MASTER: Members Receive Wind-Up Report
-----------------------------------------------
The members of TRG Asia Opportunity Master Fund, Ltd. received on
Jan. 20, 2017, 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


TRG LOCAL: Members Receive Wind-Up Report
-----------------------------------------
The members of TRG Local Currency Opportunity Fund II, Ltd.
received on Jan. 20, 2017, 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


TRG LOCAL MASTER: Members Receive Wind-Up Report
------------------------------------------------
The members of TRG Local Currency Opportunity Master Fund II, Ltd.
received on Jan. 20, 2017, 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



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


DOMINICAN REPUBLIC: Chief Digs in Call to Nix Severance Pay
-----------------------------------------------------------
Dominican Today reports that Dominican Republic Labor Minister
Jose Ramon Fadul reiterated he doesn't agree with eliminating the
severance pay and warned that his position is firm.

"I do not agree with annulling the dismissal, I do not agree with
that.  The only thing that the worker has after working 15 or 20
years, at the end when he goes home exhausted, without anything,
is the severance pay," the official said, according to Dominican
Today.

Regarding the statement by National Industries Association
spokesperson Circe Almanzar, that the Labor Minister broke the
dialogue with his assertion on severance pay, Mr. Fadul denied it,
the report notes.

"I have not broken the dialogue. I simply do not agree, because
what is the worker's savings, is his severance pay when his work
life ends at the end. So in the end you're going to tell them that
they have nothing.  You've seen that nobody in this country can
save with a minimum wage . . . .  The benefits is what they take.
That is not breaking the dialogue, everyone sets positions. They
have positions and everyone has a position, that's what the
dialogues are for," Mr. Fadul said, the report relays.

The report notes that Mr. Fadul said that his role is regulator
and mediator, but noted that he also has positions, the report
adds.

As reported in the Troubled Company Reporter-Latin America on
Nov. 22, 2016, Fitch Ratings has taken the following rating
actions on the Dominican Republic:

   -- Long-Term Foreign Currency Issuer Default Rating (IDR)
      upgraded to 'BB-' from 'B+'; assigned Stable Outlook;

   -- Long-Term Local Currency IDR upgraded to 'BB-' from 'B+';
      assigned Stable Outlook;

   -- Senior unsecured Foreign and Local Currency bonds upgraded
      to 'BB-' from 'B+';

   -- Short-Term Foreign Currency IDR affirmed at 'B';

   -- Short-Term Local Currency IDR affirmed at 'B'.



=============
E C U A D O R
=============


ECUADOR: Gets $60MM IDB Loan to Rebuild Infrastructure
------------------------------------------------------
The Inter-American Development Bank will help Ecuador with a $60
million loan to rebuild electrical infrastructure in areas hit by
an earthquake last April, through the incorporation of quake-
resistant features in the provinces of Esmeraldas, ManabĀ° and
Santo Domingo.

The specific goals of the project are to restore the supply of
electricity through the sub-transmission systems of the utility
companies affected by the quake and facilitate reliable supply of
electricity to final users through the implementation of
electrical distribution projects.

On April 16 of last year, an earthquake of magnitude 7.8 struck
the Cojimies and Pedernales areas of Manabi province on Ecuador's
coast. The intensity of the tremor was greatest in the northwest
of the country, damaging 14 districts of the provinces of ManabĀ°,
Esmeraldas and Santo Domingo.

The program features resources from the IDB's Ordinary Capital
fund totaling$60 million overa25-year term, with a 6-year grace
period and an interest rate based on LIBOR. The local contribution
of the government of Ecuador will be $9.2 million.

As reported in the Troubled Company Reporter-Latin America on
Dec. 14, 2016, Fitch Ratings has assigned a 'B' rating to
Ecuador's $750 million notes maturing 2026.  Proceeds from this
issuance will be used for general budgetary financing purposes.



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


ECRA GROUP: Unsecureds to Recover 3% in Five Years
--------------------------------------------------
ECRA Group Corp. filed with the U.S. Bankruptcy Court for the
District of Puerto Rico a disclosure statement referring to the
Debtor's plan of reorganization dated Jan. 13, 2017.

The Debtor is proposing a plan to cure and pay the priority
obligations allowed in full in 60 months after the date of the
order for relief, which is June 10, 2016, and pay 3% to the
unsecured claims in five years following the effective date or
within a period no longer than 60 months.

The Plan will be funded through cash on hand at the Effective
Date, and through selling the commercial real estate property.
Future income from savings on reduction of operational expenses
maintaining and increasing the sales to customers will also be
used for the payment plan.

The Disclosure Statement is available at:

         http://bankrupt.com/misc/prb16-04651-47.pdf

                         About ECRA Group

ECRA Group, Corp., is organized under the laws of the Commonwealth
of Puerto Rico and organized on Nov. 16, 2005.  Annette Cancel
Lorenzana is the president of the corporation and co-owner with
45% of the stocks; Carlos I. Arce is the owner of 45% of the
stocks; Iannette Arce Cancel is the secretary of the corporation
and owner of 5% of the stocks, and Liannette Arce Cancel is the
owner of 5% of the stocks of the corporation.  The Debtor operates
its business dba Ferreteria Arce at a rented commercial property
dedicated to servicing and selling construction materials and
hardware equipment and related materials to general customers and
construction technicians.  The store is located at road 670.23
Marginal Street, Parcelas Marquez, Vega Baja, Puerto Rico.  The
Debtor owns the real property dedicated for the leasing business
operation.

The Debtor filed a Chapter 11 bankruptcy petition (Bankr. D.P.R.
Case No. 16-04651) on June 10, 2016.  Luis D. Flores Gonzalez at
The Law Offices of Luis D. Flores Gonzalez as bankruptcy counsel.

As of the date of the filing of the Chapter 11 petition, the
Debtor had assets of $545,500 and liabilities of $782,989.


ESTEBAN BEAUTY: Needs Additional 90 Days to Confirm Plan
--------------------------------------------------------
Esteban Beauty Distributor Corp. and Esteban Distributor Inc.
request the U.S. Bankruptcy Court for the District of Puerto Rico
to extend the Debtors' time to confirm their Plan of
Reorganization by 90 days and for continuance of the confirmation
hearing.

The Debtors relate that they have filed a small business
Disclosure Statement and Chapter 11 Plan on January 17, 2017, and
the Court has scheduled the confirmation hearing for February 17,
2017 at 9:30 am. However, the Debtors intend to file objections to
claims, once the Debtors' CPA provides the evidence.

Accordingly, the Debtors need an extension of time to finish
pending issues that will favorably conclude the plan being
confirmed.

                 About Esteban Beauty Distributor Corp.
                     and Esteban Distributor Inc.

Esteban Beauty Distributor Corp. and Esteban Distributor Inc.
filed separate Chapter 11 petitions (Bankr. D.P.R. Case No. 16-
03796 and Bankr. D.P.R. Case No. 16-03799), on May 11, 2016.  The
Petitions were signed by Jose Esteban Colon, President.  The
Debtors are represented by Maria Soledad Lozada Figueroa, Esq. at
Lozada Law & Associates, LLC.  At the time of filing, each of the
Debtors estimated their assets and liabilities to be between
$100,000 to $500,000 each.


ESTEBAN BEAUTY: Disclosures Conditionally OK'd; Hearing on Feb. 17
------------------------------------------------------------------
The Hon. Edward A. Godoy of the U.S. Bankruptcy Court for the
District of Puerto Rico has conditionally approved Esteban Beauty
Distributor Corp.'s disclosure statement dated Jan. 17, 2017,
referring to the Debtor's plan of reorganization.

A hearing for the consideration of the final approval of the
Disclosure Statement and the confirmation of the Plan and of
objections as may be made to either will be held on Feb. 17, 2017,
at 9:30 a.m.

Acceptances or rejections of the Plan may be filed in writing by
the holders of all claims on or before 14 days prior to the date
of the hearing on confirmation of the Plan.

Any objection to the final approval of the Disclosure Statement
and or the confirmation of the Plan will be filed on or before 14
days prior to the date of the hearing on confirmation of the Plan.
The Debtor will file with the Court a statement setting forth
compliance with each requirement in Section 1129, the list of
acceptances and rejections and the computation of the same, within
seven working days before the hearing on confirmation.

                      About Esteban Beauty

Headquartered in Toa Baja, Puerto Rico, Esteban Beauty Distributor
Corp. sought protection under Chapter 11 of the Bankruptcy Code in
the U.S. Bankruptcy Court for the District of Puerto Rico (Case
No. 16-03796) on May 11, 2016, estimating its assets and
liabilities at between $100,001 and $500,000 each.

Maria Soledad Lozada, Esq., at the Lozada Law & Associates, LLC,
serves as the Debtor's bankruptcy counsel.


FARMACIA SAN JUSTO: Unsecureds to Recover 30% Under Plan
--------------------------------------------------------
Farmacia San Justo Inc. filed with the U.S. Bankruptcy Court for
the District of Puerto Rico a disclosure statement referring to
the Debtor's plan of reorganization.

Class 3 allowed general unsecured claims are estimated at
$1,112,117.08 and are impaired under the Plan.  Unsecured Claims
of $4,000 or less, will be paid in full satisfaction of said
claims 30% thereof on the Effective Date.

Non-Insiders Holders of Allowed General Unsecured Claims in excess
of $4,000 will be paid in full satisfaction of said claims 30%
thereof, through 72 equal consecutive monthly installments of
$4,420.92 commencing on the 30th day of the month following the
Effective Date and continuing on the 30th day of the subsequent 71
months.

The Debtor will effect payment of all allowed administrative
expense claims, priority tax claims, secured and General Unsecured
Claims from the funds generated from its operations, available
cash balance as of the Effective Date and the collection of
Debtor's accounts receivable from health insurance plans.

The Disclosure Statement is available at:

            http://bankrupt.com/misc/prb16-05624-66.pdf

                     About Farmacia San Justo

Farmacia San Justo, Inc., based in Saint Just, Puerto Rico, is a
corporation organized under the laws of Puerto Rico on May 9,
1977, and engaged in the operations of a pharmacy at Shopping
Center Cuatro Plazas, Road 848, Saint Just Ward, Trujillo Alto,
Puerto Rico.  The Debtor operates a pharmacy which dispenses
prescription drugs and other relates products.  It mainly provides
services to individuals who are receiving health benefits through
health insurers, like private health insurance companies,
government health programs, managed care organizations, and
others.

The Debtor 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.


GENERAL MOTRIZ: Plan Confirmation Hearing on Feb. 22
----------------------------------------------------
The Hon. Mildred Caban Flores of the U.S. Bankruptcy Court for the
District of Puerto Rico has conditionally approved General Motriz,
Inc.'s disclosure statement dated Jan. 13, 2017, referring to the
Debtor's plan of reorganization.

A hearing for the consideration of the final approval of the
Disclosure Statement and the confirmation of the Plan and of
objections as may be made to either will be held on Feb. 22, 2017,
at 9:00 a.m.

Any objection to the final approval of the Disclosure Statement
and the confirmation of the Plan will be filed on or before 14
days prior to the date of the hearing on confirmation of the Plan.
Acceptances or rejections of the Plan may be filed in writing by
the holders of all claims on or before 14 days prior to the date
of the hearing on confirmation of the Plan.  The Debtor will file
with the Court a statement setting forth compliance with each
requirement in U.S.C. Section 1129, the list of acceptances and
rejections and the computation of the same, within seven working
days before the hearing on confirmation.

As reported by the Troubled Company Reporter on Jan. 19, 2017, the
Debtor filed with the Court a small business disclosure statement
describing its Chapter 11 plan of reorganization, which proposes
to pay general unsecured creditors $146.04 in 60 equal monthly
installments.  The Plan will be funded with cash available
proceeds from the revenue that the stores generate, after paying
operating expenses and taxes.

                    About General Motriz

General Motriz, Inc., sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D.P.R. Case No. 16-02193) on March 21,
2016.  The Debtor is represented by Victor Gratacos Diaz, Esq., at
Gratacos Law Firm, P.S.C.



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


TRINIDAD & TOBAGO: Rank Worsens in Corruption Index 2016
--------------------------------------------------------
Trinidad Express reports that Trinidad and Tobago has been
perceived as more corrupt in 2016 than it was in recent years,
Transparency International's latest Corruption Perception Index
(CPI) has shown.

According to the global corruption watchdog, this country's
corruption ranking plunged from 72 out of the 168 countries
assessed in 2015 to 101 out of 176 countries assessed in 2016, the
report notes.

On a scale of zero to 100 (with 100 being a corruption-free
society and zero a corrupt society), Trinidad and Tobago scored
35, four less than it did in 2015, according to Trinidad Express.

Previous scores were 38 in 2014 and 2013 and 39 in 2012.
In the latest index, Trinidad and Tobago tied at 101 with Gabon,
Niger, Peru, Thailand, Timor-Leste and the Philippines, the report
relays.


                            ***********


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, Ivy B.
Magdadaro, and Peter A. Chapman, Editors.

Copyright 2017.  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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