TCRLA_Public/170222.mbx         T R O U B L E D   C O M P A N Y   R E P O R T E R

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

           Wednesday, February 22, 2017, Vol. 18, No. 38


                            Headlines



A R G E N T I N A

ARGENTINA: Macri Will Annul Father's Postal Debt Deal
FONDO DE GARANTIAS: Moody's Withdraws B3 Local Currency Rating


B R A Z I L

OI SA: Nears New Creditor Proposal, Regardless of Telecom Reform


C A Y M A N  I S L A N D S

ALPHA4X CAPITAL: Commences Liquidation Proceedings
ALPHA4X OFFSHORE: Commences Liquidation Proceedings
ALPHA4X OFFSHORE 2: Commences Liquidation Proceedings
ARDEN FOCUSED: Placed Under Voluntary Wind-Up
CAPSTONE ASSET: Placed Under Voluntary Wind-Up

CLINTON MAGNOLIA: Commences Liquidation Proceedings
CLINTON MAGNOLIA MASTER: Commences Liquidation Proceedings
FULL CIRCLE: Commences Liquidation Proceedings
GENESIS CAPITAL: Placed Under Voluntary Wind-Up
GENESIS CAPITAL MASTER: Placed Under Voluntary Wind-Up

GOCM OFFSHORE: Commences Liquidation Proceedings
MIDWOOD CAPITAL: Commences Liquidation Proceedings
MIDWOOD CAPITAL MASTER: Commences Liquidation Proceedings
NIGHTWATCH CAPITAL: Commences Liquidation Proceedings
SHENWAN HONGYUAN: Commences Liquidation Proceedings

SIGNUM VERDE 2007-04: S&P Raises Rating on CLP4.95BB Notes to BB-
SSCG AFRICA: Commences Liquidation Proceedings
TELLURIAN COMMODITY: Commences Liquidation Proceedings
TELLURIAN COMMODITY MASTER: Commences Liquidation Proceedings
WATERSTONE MARKET: Commences Liquidation Proceedings


P U E R T O    R I C O

ORIENTAL CANTONES: Court Confirms Reorganization Plan
SPORTS AUTHORITY: Asks Court to Expand Scope of Hilco Services
VASSALLO INTERNATIONAL: C6 Group Buying Assets for $80K
VASSALLO INTERNATIONAL: Air Master Buying Assets for $45K


T R I N I D A D  &  T O B A G O

PETROTRIN: Signs MOU With Staatsolie
PRICESMART: Faces Foreign Exchange Woes


X X X X X X X X X

* LATIN AMERICA: Remittances to Region Rose 8% in 2016


                            - - - - -


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


ARGENTINA: Macri Will Annul Father's Postal Debt Deal
-----------------------------------------------------
Luc Cohen and Maximiliano Rizzi at Reuters report Argentina's
President Mauricio Macri said he would annul an agreement his
government reached to resolve a 15-year-old debt the country's
postal service incurred when it was owned by Macri's father.

President Macri spoke after a federal prosecutor asked a judge to
open an investigation into him and Communications Minister Oscar
Aguad earlier, according to Reuters.

The deal, reached last year, had prompted conflict-of-interest
allegations from another prosecutor who asked a court to block the
agreement, calling it a "forgiveness of debt" that benefited the
president's family, the report notes.

"I have given Dr. Aguad instructions to start over," President
Macri said.  "The good thing is that this is no fait accompli,
nothing happened yet," President Macri added.

While his Cabinet Chief Marcos Pena said President Macri had not
done anything wrong regarding the debt deal, President Macri
conceded that he could have been more transparent, the report
relays.

"I have to admit that something was missing on my part," he said.

The case dates to 1997, when then-President Carlos Menem
privatized the country's postal service, the report notes.
Control of the service went to Grupo Macri, a conglomerate owned
by real estate magnate Franco Macri, the current president's
father and one of Argentina's richest men, the report discloses.

President Macri worked for his father's conglomerate before going
into politics.

Former President Nestor Kirchner re-nationalized the postal
service in 2003, the report relays.  The company had declared
bankruptcy in 2001, and owed ARS296 million to the Argentine
government, the report notes.

According to Reuters, the debt was worth $296 million in 2001, but
today is valued at $19.1 million.

Kirchner's wife and successor, former President Cristina
Fernandez, never succeeded in reaching a deal on the debt, the
report discloses.  Months after taking office in December 2015,
President Macri's administration struck an agreement to allow the
company to repay the 296 million pesos over 15 years at 7 percent
interest, the report relays.

Prosecutor Gabriela Boquin said the terms were overly generous,
given that more than a decade of rampant inflation and devaluation
had eroded the peso's value, the report notes.

Prosecutor Juan Pedro Zoni asked to open an investigation into the
president on the grounds the deal resulted in a substantial loss
to the state, the report adds.

As reported in the Troubled Company Reporter-Latin America on
Jan. 30, 2017, Moody's Investors Service has assigned a B3 rating
to the Government of Argentina's US$3.25 billion bond due 2022 and
the US$3.75 billion bond due 2027. The outlook on the Government
of Argentina's rating is stable.

On Oct. 17, 2016, the Troubled Company Reporter-Latin America
reported that Fitch Ratings has affirmed Argentina's sovereign
ratings as:

   -- Long-term Foreign and Local Currency Issuer Default Ratings
      (IDRs) at 'B', Outlook Stable;

   -- Senior unsecured Foreign Currency bonds at 'B';

   -- Country Ceiling at 'B';

   -- Short-Term Foreign and Local Currency IDRs at 'B'.

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.


FONDO DE GARANTIAS: Moody's Withdraws B3 Local Currency Rating
---------------------------------------------------------------
Moody's Latin America Agente de Calificacion de Riesgo S.A. has
withdrawn the B3 global local currency and Baa2.ar Argentine
national scale insurance financial strength (IFS) ratings of Fondo
de Garantias Buenos Aires.

RATINGS RATIONALE

Moody's has withdrawn the ratings for its own business reasons.
Please refer to the Moody's Investors Service's Policy for
Withdrawal of Credit Ratings, available on its website,
www.moodys.com.ar.

Moody's National Scale Credit Ratings (NSRs) are intended as
relative measures of creditworthiness among debt issues and
issuers within a country, enabling market participants to better
differentiate relative risks. NSRs differ from Moody's global
scale credit ratings in that they are not globally comparable with
the full universe of Moody's rated entities, but only with NSRs
for other rated debt issues and issuers within the same country.
NSRs are designated by a ".nn" country modifier signifying the
relevant country, as in ".za" for South Africa. For further
information on Moody's approach to national scale credit ratings,
please refer to Moody's Credit rating Methodology published in May
2016 entitled "Mapping National Scale Ratings from Global Scale
Ratings". While NSRs have no inherent absolute meaning in terms of
default risk or expected loss, a historical probability of default
consistent with a given NSR can be inferred from the GSR to which
it maps back at that particular point in time. For information on
the historical default rates associated with different global
scale rating categories over different investment horizons.


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


OI SA: Nears New Creditor Proposal, Regardless of Telecom Reform
----------------------------------------------------------------
Leonardo Goy at Reuters reports that changes in Brazil's telecom
law currently under debate in the Senate are not being taken into
account by debt-laden carrier Oi SA as it devises its in-court
reorganization plan, Oi Chief Executive Marcos Schroeder said.

Speaking at an industry event in Brasilia, Mr. Schroeder said the
imminent reforms will have no economic effect on the company's
reorganization in bankruptcy court, according to Reuters.

The bill had been scheduled to become law last December but was
held up in the Senate after opposition legislators filed a motion
to submit it to a vote by the full house, the report notes.

Poised to become law after passing committees in both chambers of
Congress, the reform aims to update a concession-based model that
had created uncertainty about the value of the industry's fixed-
line assets, the report relays.

Mr. Schroeder's comments suggest that Oi will not let the reform's
current legal limbo slow negotiations with creditors to
restructure about BRL65.4 billion ($21.1 billion) of bank debt,
bonds and regulatory liabilities, the report notes.

Mr. Schroeder said Oi will present an amended debt restructuring
plan next month and put it to a creditor vote between April and
June. The company made its first proposal in September but a large
group of lenders rejected it, the report discloses.

Mr. Schroeder reiterated the plan will involve a reduction of the
company's debt as well as a debt-for-equity swap, the report
relates.  Mr. Schroeder said the nominal value of the bond debt,
about BRL32 billion, would be reduced by 70 percent while debt
notes representing about BRL10 billion would be converted into Oi
equity, the report notes.

Bank debt should be repaid in 17 years under the amended plan, he
said, the report discloses.

In the second half of this year, Oi also intends to start
negotiations with potential international investors interested in
providing capital to the company, Mr. Schroeder said, the report
relays.

A stay of execution, which protects Oi from creditor suits while
it devises a plan to avoid bankruptcy, will expire in May, 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
==========================


ALPHA4X CAPITAL: Commences Liquidation Proceedings
--------------------------------------------------
At an extraordinary meeting held on Dec. 16, 2016, the members of
Alpha4x Capital Growth Fund resolved to voluntarily liquidate the
company's business.

Only creditors who were able to file their proofs of debt by
Jan. 25, 2017, will be included in the company's dividend
distribution.

The company's liquidator is:

          DMS Corporate Services Ltd.
          c/o Norman Chan
          dms House 20 Genesis Close
          George Town
          P.O. Box 1344 KY1-1108
          Cayman Islands
          Telephone: (345) 946 7665
          Facsimile: (345) 949 2877


ALPHA4X OFFSHORE: Commences Liquidation Proceedings
---------------------------------------------------
At an extraordinary meeting held on Dec. 16, 2016, the members of
Alpha4X Offshore Feeder Fund resolved to voluntarily liquidate the
company's business.

Only creditors who were able to file their proofs of debt by
Jan. 25, 2017, will be included in the company's dividend
distribution.

The company's liquidator is:

          DMS Corporate Services Ltd.
          c/o Norman Chan
          dms House 20 Genesis Close
          George Town
          P.O. Box 1344 KY1-1108
          Cayman Islands
          Telephone: (345) 946 7665
          Facsimile: (345) 949 2877


ALPHA4X OFFSHORE 2: Commences Liquidation Proceedings
-----------------------------------------------------
At an extraordinary meeting held on Dec. 16, 2016, the members of
Alpha4x Offshore Feeder Fund 2 resolved to voluntarily liquidate
the company's business.

Only creditors who were able to file their proofs of debt by
Jan. 25, 2017, will be included in the company's dividend
distribution.

The company's liquidator is:

          DMS Corporate Services Ltd.
          c/o Norman Chan
          dms House 20 Genesis Close
          George Town
          P.O. Box 1344 KY1-1108
          Cayman Islands
          Telephone: (345) 946 7665
          Facsimile: (345) 949 2877


ARDEN FOCUSED: Placed Under Voluntary Wind-Up
---------------------------------------------
The sole shareholder of Arden Focused Global Macro Fund, Ltd., on
Dec. 21, 2016, resolved to voluntarily wind up the company's
operations.

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

The company's liquidator is:

          Elian Fiduciary Services (Cayman) Limited
          c/o Jody Powery-Gilbert
          Ogier
          89 Nexus Way Camana Bay
          Grand Cayman KY1-9009
          Cayman Islands
          Telephone: +1 (345) 949 9876
          Facsimile: +1 (345) 949-9877


CAPSTONE ASSET: Placed Under Voluntary Wind-Up
----------------------------------------------
The sole shareholder of Capstone Asset Management Limited, on
Dec. 21, 2016, resolved to voluntarily wind up the company's
operations.

Only creditors who were able to file their proofs of debt by
Jan. 24, 2017, will be included in the company's dividend
distribution.

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


CLINTON MAGNOLIA: Commences Liquidation Proceedings
---------------------------------------------------
At an extraordinary meeting held on Dec. 20, 2016, the members of
Clinton Magnolia Fund, Ltd. resolved to voluntarily liquidate the
company's business.

Only creditors who were able to file their proofs of debt by
Jan. 25, 2017, will be included in the company's dividend
distribution.

The company's liquidator is:

          DMS Corporate Services Ltd.
          c/o Norman Chan
          dms House 20 Genesis Close
          George Town
          P.O. Box 1344 KY1-1108
          Cayman Islands
          Telephone: (345) 946 7665
          Facsimile: (345) 949 2877


CLINTON MAGNOLIA MASTER: Commences Liquidation Proceedings
----------------------------------------------------------
At an extraordinary meeting held on Dec. 20, 2016, the members of
Clinton Magnolia Master Fund, Ltd. resolved to voluntarily
liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Jan. 25, 2017, will be included in the company's dividend
distribution.

The company's liquidator is:

          DMS Corporate Services Ltd.
          c/o Norman Chan
          dms House 20 Genesis Close
          George Town
          P.O. Box 1344 KY1-1108
          Cayman Islands
          Telephone: (345) 946 7665
          Facsimile: (345) 949 2877


FULL CIRCLE: Commences Liquidation Proceedings
----------------------------------------------
At an extraordinary meeting held on Dec. 20, 2016, the members of
Full Circle Fund, Ltd. resolved to voluntarily liquidate the
company's business.

Only creditors who were able to file their proofs of debt by
Jan. 25, 2017, will be included in the company's dividend
distribution.

The company's liquidator is:

          DMS Corporate Services Ltd.
          c/o Norman Chan
          dms House 20 Genesis Close
          George Town
          P.O. Box 1344 KY1-1108
          Cayman Islands
          Telephone: (345) 946 7665
          Facsimile: (345) 949 2877


GENESIS CAPITAL: Placed Under Voluntary Wind-Up
-----------------------------------------------
The sole shareholder of Genesis Capital Partners Offshore Fund
Ltd., on Dec. 9, 2016, resolved to voluntarily wind up the
company's operations.

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

The company's liquidator is:

          Genesis Capital Partners LLC
          c/o Ben Gillooly
          Ogier
          89 Nexus Way
          Camana Bay
          Grand Cayman KY1-9009
          Cayman Islands
          Telephone: +1 (345) 949 9876
          Facsimile: +1 (345) 949-9877


GENESIS CAPITAL MASTER: Placed Under Voluntary Wind-Up
------------------------------------------------------
The sole shareholder of Genesis Capital Partners Master Fund Ltd.,
on Dec. 9, 2016, resolved to voluntarily wind up the company's
operations.

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

The company's liquidator is:

          Genesis Capital Partners LLC
          c/o Ben Gillooly
          Ogier
          89 Nexus Way
          Camana Bay
          Grand Cayman KY1-9009
          Cayman Islands
          Telephone: +1 (345) 949 9876
          Facsimile: +1 (345) 949-9877


GOCM OFFSHORE: Commences Liquidation Proceedings
------------------------------------------------
At an extraordinary meeting held on Dec. 19, 2016, the members of
GOCM Offshore Fund, Ltd. resolved to voluntarily liquidate the
company's business.

Only creditors who were able to file their proofs of debt by
Jan. 25, 2017, will be included in the company's dividend
distribution.

The company's liquidator is:

          DMS Corporate Services Ltd.
          c/o Norman Chan
          dms House 20 Genesis Close
          George Town
          P.O. Box 1344 KY1-1108
          Cayman Islands
          Telephone: (345) 946 7665
          Facsimile: (345) 949 2877


MIDWOOD CAPITAL: Commences Liquidation Proceedings
--------------------------------------------------
At an extraordinary meeting held on Dec. 20, 2016, the members of
Midwood Capital Partners Offshore Fund, Ltd. resolved to
voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Jan. 25, 2017, will be included in the company's dividend
distribution.

The company's liquidator is:

          DMS Corporate Services Ltd.
          c/o Norman Chan
          dms House 20 Genesis Close
          George Town
          P.O. Box 1344 KY1-1108
          Cayman Islands
          Telephone: (345) 946 7665
          Facsimile: (345) 949 2877


MIDWOOD CAPITAL MASTER: Commences Liquidation Proceedings
---------------------------------------------------------
At an extraordinary meeting held on Dec. 16, 2016, the members of
Midwood Capital Partners Master Fund, LP resolved to voluntarily
liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Jan. 25, 2017, will be included in the company's dividend
distribution.

The company's liquidator is:

          DMS Corporate Services Ltd.
          c/o Norman Chan
          dms House 20 Genesis Close
          George Town
          P.O. Box 1344 KY1-1108
          Cayman Islands
          Telephone: (345) 946 7665
          Facsimile: (345) 949 2877


NIGHTWATCH CAPITAL: Commences Liquidation Proceedings
-----------------------------------------------------
At an extraordinary meeting held on Dec. 20, 2016, the members of
Nightwatch Capital Partners (Cayman) Ltd. resolved to voluntarily
liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Jan. 25, 2017, will be included in the company's dividend
distribution.

The company's liquidator is:

          DMS Corporate Services Ltd.
          c/o Norman Chan
          dms House 20 Genesis Close
          George Town
          P.O. Box 1344 KY1-1108
          Cayman Islands
          Telephone: (345) 946 7665
          Facsimile: (345) 949 2877


SHENWAN HONGYUAN: Commences Liquidation Proceedings
---------------------------------------------------
At an extraordinary meeting held on Dec. 21, 2016, the members of
Shenwan Hongyuan Asia Fund Management Limited resolved to
voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Jan. 25, 2017, will be included in the company's dividend
distribution.

The company's liquidator is:

          DMS Corporate Services Ltd.
          c/o Norman Chan
          dms House 20 Genesis Close
          George Town
          P.O. Box 1344 KY1-1108
          Cayman Islands
          Telephone: (345) 946 7665
          Facsimile: (345) 949 2877


SIGNUM VERDE 2007-04: S&P Raises Rating on CLP4.95BB Notes to BB-
-----------------------------------------------------------------
S&P Global Ratings raised to 'BB-' from 'B+' its credit rating on
Signum Verde Ltd.'s series 2007-04 notes

The upgrade follows S&P's Feb. 10, 2017 upgrade to 'BB-' from 'B+'
of Petrobras Brasileiro S.A.

Under S&P's criteria applicable to transactions such as these, it
generally reflects changes to the rating on the reference entity
in S&P's rating on the notes.  S&P's rating on Signum Verde's
series 2007-04 notes is weak-linked to the issuer credit rating on
Petrobras Brasileiro, as reference entity.

Signum Verde's series 2007-04 notes are credit-linked notes
referencing the credit risk of Petrobras Brasileiro.  The
collateral is invested in a 'BBB' rated bond issued by Citigroup
Inc.  The Bank of New York Mellon (AA-/Stable/A-1+) acts as
account bank and custodian.  Goldman Sachs International
(A+/Stable/A-1) is the credit default swap counterparty.

RATINGS LIST

Signum Verde Ltd.
CLP4.95 bil fixed-rate secured inflation-linked and credit-linked
to Petroleo Brasileiro S.A. and Petrobras International Finance
notes series 2007-04
                                             Rating
Class              Identifier                To           From
                   XS0329688138              BB-          B+


SSCG AFRICA: Commences Liquidation Proceedings
----------------------------------------------
At an extraordinary meeting held on Dec. 16, 2016, the members of
SSCG Africa Opportunities Fund Ltd resolved to voluntarily
liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Jan. 25, 2017, will be included in the company's dividend
distribution.

The company's liquidator is:

          DMS Corporate Services Ltd.
          c/o Norman Chan
          dms House 20 Genesis Close
          George Town
          P.O. Box 1344 KY1-1108
          Cayman Islands
          Telephone: (345) 946 7665
          Facsimile: (345) 949 2877


TELLURIAN COMMODITY: Commences Liquidation Proceedings
------------------------------------------------------
At an extraordinary meeting held on Dec. 16, 2016, the members of
Tellurian Commodity Ascend Fund Limited resolved to voluntarily
liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Jan. 25, 2017, will be included in the company's dividend
distribution.

The company's liquidator is:

          DMS Corporate Services Ltd.
          c/o Norman Chan
          dms House 20 Genesis Close
          George Town
          P.O. Box 1344 KY1-1108
          Cayman Islands
          Telephone: (345) 946 7665
          Facsimile: (345) 949 2877


TELLURIAN COMMODITY MASTER: Commences Liquidation Proceedings
-------------------------------------------------------------
At an extraordinary meeting held on Dec. 16, 2016, the members of
Tellurian Commodity Ascend Master Fund Limited resolved to
voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Jan. 25, 2017, will be included in the company's dividend
distribution.

The company's liquidator is:

          DMS Corporate Services Ltd.
          c/o Norman Chan
          dms House 20 Genesis Close
          George Town
          P.O. Box 1344 KY1-1108
          Cayman Islands
          Telephone: (345) 946 7665
          Facsimile: (345) 949 2877


WATERSTONE MARKET: Commences Liquidation Proceedings
----------------------------------------------------
At an extraordinary meeting held on Dec. 16, 2016, the members of
Waterstone Market Neutral Offshore Fund, Ltd. resolved to
voluntarily liquidate the company's business.

Only creditors who were able to file their proofs of debt by
Jan. 25, 2017, will be included in the company's dividend
distribution.

The company's liquidator is:

          DMS Corporate Services Ltd.
          c/o Norman Chan
          dms House 20 Genesis Close
          George Town
          P.O. Box 1344 KY1-1108
          Cayman Islands
          Telephone: (345) 946 7665
          Facsimile: (345) 949 2877


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


ORIENTAL CANTONES: Court Confirms Reorganization Plan
-----------------------------------------------------
Judge Enrique S. Lamoutte Inclan of the U.S. Bankruptcy Court for
the District of Puerto Rico issued an order approving the
disclosure statement and confirming the plan of reorganization
filed by Oriental Cantones Inc. on Oct. 10, 2016.

As reported by the Troubled Company Reporter on Oct. 18, 2016,
under the plan, priority unsecured creditors will receive a
distribution of no less than 100% of their allowed claims over a
period of five years.

Payments and distributions under the Plan will be funded by rental
income, income from service granted by the Debtor.

The Disclosure Statement is available at:

               http://bankrupt.com/misc/prb16-02759-46.pdf

                     About Oriental Cantones

Oriental Cantones, Inc., incorporated under the laws of the
Commonwealth of Puerto Rico, operates a business that is dedicated
to the rental of real estate property.  It  has real estate
property in the amount of approximately $525,000.00, that is the
commercial property, which consists of a building and two houses
that are the subject of rentals.

The Debtor filed for Chapter 11 bankruptcy protection (Bankr.
D.P.R. Case No. 16-02759) on April 8, 2016.  Robert Millan,
Esq.,
at Millan Law Offices serves as the Debtor's bankruptcy counsel.

Shun Ming Lu Cen is the administrator of the corporation's affairs
and has power of attorney through the corporation's President,
Fung Wing Fung, who resides in the State of Florida.  He is the
managing officer in control of the Debtor.


SPORTS AUTHORITY: Asks Court to Expand Scope of Hilco Services
--------------------------------------------------------------
TSAWD Holdings, Inc. has asked the U.S. Bankruptcy Court for the
District of Delaware to allow Hilco IP Services LLC to provide
additional services.

Hilco, the firm hired by TSAWD to market its intellectual
property, will assist the company in the disposition and
monetization of its remaining intangible assets, including,
litigation claims.

Specifically, the firm will provide the former Sports Authority
Holdings these additional services:

     (a) identifying, collecting, and securing all of the
         available information and other data concerning the
         remaining assets;

     (b) preparing marketing materials designed to inform
         potential purchasers of the availability of the remaining

         assets for sale, assignment, license, or other
         disposition;

     (c) developing and executing a sales and marketing program
         designed to elicit proposals from qualified acquirers;
         and

     (d) assisting TSAWD in connection with the transfer of the
         remaining assets to the acquirer, and executing all
         marketing and sale activities related to the assets.

In consideration for the additional services to be provided by
Hilco, the firm will be paid a commission of 8% of the
aggregate gross proceeds generated from the sale, assignment,
license or other disposition of the remaining assets.

                   About TSAWD Holdings Inc.

TSAWD Holdings Inc., formerly known as Sports Authority Holdings,
and its affiliates are sporting goods retailers with roots dating
back to 1928.  The Debtors currently operate 464 stores and five
distribution centers across 40 U.S. states and Puerto Rico.  The
Debtors offer a broad selection of goods from a wide array of
household and specialty brands, including Adidas, Asics, Brooks,
Columbia, FitBit, Hanesbrands, Icon Health and Fitness, Nike, The
North Face, and Under Armour, in addition to their own private
label brands.  The Debtors employ 13,000 people.

TSAWD and six of its affiliates filed Chapter 11 bankruptcy
petitions (Bankr. D. Del. Case Nos. 16-10527 to 16-10533) on March
2, 2016.  The petitions were signed by Michael E. Foss as chairman
& chief executive officer.

The Debtors have engaged Robert A. Klyman, Esq., Matthew J.
Williams, Esq., Jeremy L. Graves, Esq., and Sabina Jacobs, Esq.,
at Gibson, Dunn & Crutcher LLP as general counsel; Michael R.
Nestor, Esq., Kenneth J. Enos, Esq., and Andrew L. Magaziner,
Esq., at Young Conaway Stargatt & Taylor, LLP as co-counsel;
Rothschild Inc. as investment banker; FTI Consulting, Inc., as
financial advisor; and Kurtzman Carson Consultants LLC as notice,
claims, solicitation, balloting and tabulation agent.

Andrew Vara, Acting U.S. trustee for Region 3, appointed seven
creditors of Sports Authority Holdings Inc. to serve on the
official committee of unsecured creditors.  Lawyers at Pachulski
Stang Ziehl & Jones LLP represent the Official Committee of
Unsecured Creditors.

                      *     *     *

In May 2016, the Delaware Court allowed Sports Authority to
Proceed with the liquidation of all of its roughly 450 stores
across the country after the Debtors resolved or beat out about
100 objections to the sale.  Judge Mary F. Walrath approved an
agreement for a joint venture of Gordon Brothers Retail Partners
LLC, Hilco Merchant Resources LLC and Tiger Capital Group LLC to
conduct going out of business sales.  The Joint Venture won an
auction for the Debtors' inventory.  The Debtors failed to obtain
a winning going-concern bid at a May 17, 2016 auction.

In July 2016, Judge Walrath approved the sale of the Debtors'
intellectual property and more than two dozens of property leases
to Dick's Sporting Goods Inc.  A Wall Street Journal report,
citing anonymous sources, said Dick's bid was for $15 million.


VASSALLO INTERNATIONAL: C6 Group Buying Assets for $80K
-------------------------------------------------------
Vassallo International Group, Inc., asks the U.S. Bankruptcy Court
for the District of Puerto Rico to authorize the private sale of
assets to C6 Group, LLC for $80,000.

The Debtor's Plan will be of a liquidating nature and in line
therewith, the Debtor needs to sell its existing machinery and
equipment as expeditiously as possible, inter alia, to preclude
its deterioration and be able to vacate the premises it occupies
under a lease agreement with JCGMB, Inc.

To this effect, on Dec. 21, 2016, the Debtor filed a Notice of
Sale regarding certain machinery and equipment encumbered by Vinyl
Investments, LLC, Engineered Vinyl Blends, LLC, Resin Technology,
Inc., and Heritage Puerto Rico, LLC to Industrial Gamma, S.R.L.
for $275,000.

The Debtor has received an offer from the Buyer to purchase
Debtor's assets encumbered in favor of Heritage PR for $80,000.
The Debtor proposed to sell the assets to the Buyer free and clear
of all liens and encumbrances with Heritage's lien to attach to
the proceeds of the sale, which proceeds will be deposited with
the Clerk of the Court for negotiation of a carve out with
Heritage for the Debtor's estate and disbursement of the balance
to Heritage.

The Debtor must sell the assets as expeditiously as possible, in
order to maximize their value and avoid their deterioration,
particularly since Debtor is no longer in operations, the assets
will deteriorate and that the Debtor must vacate the leased
premises where they are located, as expeditiously as possible.

While there is no recent appraisal of the assets, based on the
Debtor's management expertise the purchase price offered by the
Buyer is considered to be their market value in view of their
condition, year of manufacturing and the market demand for the
nature of the assets.

Accordingly, the Debtor asks the Court to approve the proposed
sale of assets.

A copy of the list of assets to be sold and the Offer to Purchase
attached to the Motion is available for free at:


http://bankrupt.com/misc/Vassallo_International_85_Sales.pdf

The Purchaser can be reached at:

          C6 GROUP, LLC
          P.O. BOX 367634
          San Juan, PR 00936-7634

           About Vassallo International Group

Vassallo International Group Inc., filed a Chapter 11 petition
(Bankr. D. P.R. Case No. 16-09093) on November 16, 2016.  The
petition was signed by Rafael V. Vassallo Collazo, president.  The
Debtor is represented by Charles Alfred Cuprill-Hernandez, Esq.

The Debtor disclosed $0 million in assets and $8.4 million in
liabilities.


VASSALLO INTERNATIONAL: Air Master Buying Assets for $45K
---------------------------------------------------------
Vassallo International Group, Inc., asks the U.S. Bankruptcy Court
for the District of Puerto Rico to authorize the private sale of
assets to Air Master Awning, LLC for $45,000.

The Debtor's Plan will be of a liquidating nature and in line
therewith, the Debtor needs to sell its existing machinery and
equipment as expeditiously as possible, inter alia, to preclude
its deterioration and be able to vacate the premises it occupies
under a lease agreement with JCGMB, Inc.

To this effect, on Dec. 21, 2016, the Debtor filed a Notice of
Sale regarding certain machinery and equipment encumbered by Vinyl
Investments, LLC, Engineered Vinyl Blends, LLC, Resin Technology,
Inc., and Heritage Puerto Rico, LLC to Industrial Gamma, S.R.L.
for $275,000.

The Debtor has received an offer from the Buyer to purchase
Debtor's assets encumbered in favor of Heritage PR for $45,000.
The Debtor proposed to sell the assets to the Buyer free and clear
of all liens and encumbrances with Heritage's lien to attach to
the proceeds of the sale, which proceeds will be deposited with
the Clerk of the Court for negotiation of a carve out with
Heritage for the Debtor's estate and disbursement of the balance
to Heritage.

The Debtor must sell the assets as expeditiously as possible, in
order to maximize their value and avoid their deterioration,
particularly since Debtor is no longer in operations, the assets
will deteriorate and that the Debtor must vacate the leased
premises where they are located, as expeditiously as possible.

While there is no recent appraisal of the assets, based on the
Debtor's management expertise the purchase price offered by Air
Master is considered to be their market value in view of their
condition, year of manufacturing and the market demand for the
nature of the assets.

Accordingly, the Debtor asks the Court to approve the proposed
sale of assets.

A copy of the list of assets to be sold and the Air Master's Offer
attached to the Motion is available for free at:

    http://bankrupt.com/misc/Vassallo_International_84_Sales.pdf

The Purchaser can be reached at:

          AIR MASTER AWNING, LLC
          P.O. BOX 2097
          Barceloneta, PR 00617

         About Vassallo International Group

Vassallo International Group Inc., filed a Chapter 11 petition
(Bankr. D. P.R. Case No. 16-09093) on Nov. 16, 2016.  The
petition was signed by Rafael V. Vassallo Collazo, president.  The
Debtor is represented by Charles Alfred Cuprill-Hernandez, Esq.

The Debtor disclosed $0 million in assets and $8.4 million in
liabilities.


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


PETROTRIN: Signs MOU With Staatsolie
------------------------------------
Trinidad and Tobago Newsday reports that state-owned oil company
Petroleum Company of Trinidad and Tobago (Petrotrin) and
Suriname's state-owned oil company Staatsolie, have signed a
Memorandum of Understanding (MOU) establishing a formal framework
for mutual cooperation between both companies on commercial and
technical fronts.

In a media release, Petrotrin stated that the MOU which was signed
at Pointe-a-Pierre by executives representing both companies,
focused on both the "upstream and downstream arms of the crude oil
value chain," according to Trinidad and Tobago Newsday.

"Upstream, Staatsolie has several near shore blocks ranging from
exploration through appraisal and development, for which
opportunities for partnering with Petrotrin exist.

The Company is also interested in applying enhanced oil recovery
(EOR) strategies in onshore blocks to improve oil recovery and
this represents another area where Petrotrin will share its
experience and expertise," Petrotrin stated, the report notes.

On the downstream side, both companies are expected to explore
business opportunities for crude and product sales and/ or swaps,
product blending and bunkering while there would also be the
"sharing of technical knowledge and experience in refinery
operations, engineering and procurement,.

"With the signing of the MOU signalling the start of the
cooperation exercise, technical teams from both companies look
forward to forging deeper relationships based on mutual synergies
in the future," Petrotrin stated, the report discloses.

Staatsolie, like Petrotrin, is involved in exploration and
production and refining and marketing and is also involved in
retail product sales, commercial power generation and gold mining,
the report notes.

In 2016, Staatsolie commissioned a new refinery with a capacity of
15,000 barrels per day, the report recalls.

                      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.


PRICESMART: Faces Foreign Exchange Woes
---------------------------------------
Carolyn Kissoon at Trinidad Express reports that PriceSmart, the
largest warehouse shopping chain in Trinidad and Tobago, has
issued an advisory to members that its imports have been limited
due to a shortage of foreign currency.

In a notice to members, PriceSmart stated that the company was
unable to offer its full selection of imported products, according
to Trinidad Express.

"However, we are committed to stocking the range of imported
products most frequently purchased by our members," the notice
stated, the report notes.

PriceSmart said it was working hard to find alternative solutions
until the foreign currency market improves, the report relays.

Members told the Express that the notices were posted at its
locations in Chaguanas, La Romaine, D'Abadie and Port of Spain.


=================
X X X X X X X X X
=================


* LATIN AMERICA: Remittances to Region Rose 8% in 2016
------------------------------------------------------
EFE News reports that Remittances to Latin America climbed 8
percent last year to reach $70 billion, a Washington think-tank
said.

Inter-American Dialogue issues an annual report on remittances.

Last year's increase "is related not only to the causes of
immigration, but also to changes in the technology of money
transfer," Manuel Orozco, director of the institution's Migration,
Remittances and Development Program, said at the presentation of
the report, according to EFE News.

In percentage terms, the largest gains went to Paraguay, 21.8
percent; Guatemala, 13.9 percent; and Ecuador, 10.1 percent.
But the bulk of the money went to Mexico, $26.96 billion; and the
seven nations of Central America, who received $33.8 billion in
all, the report notes.

A total of 23 million Latin American households benefit from money
wired by family members living and working abroad, overwhelmingly
in the United States, the report relays.

New services allowing people to transfer money using their
cellphones account for a growing proportion of remittances,
according to the report, EFE News says.

EFE News discloses that rampant crime and violence is driving an
increase in the number of Salvadorans, Guatemalans, and Hondurans
coming to the United States, Orozco said, describing the magnitude
of the Central American exodus as second only to that of refugees
from Syria.

Remittances to Mexico expanded in 2016 even though the number of
Mexican migrants in the US held steady, indicating growth in the
percentage of expats sending money home and in the amounts sent,
which the report suggests could be a sign that the flow of
remittances has peaked and is beginning to decline, EFE News
notes.

Money sent home by emigrants constitutes Mexico's second-largest
source of foreign exchange, after oil exports, the report relays.

President Donald Trump's plans to build a wall on the US-Mexico
border and deport undocumented immigrants pose a potential threat
to what has become an economic lifeline for poor Mexican
households, the report adds.


                            ***********


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.


                   * * * End of Transmission * * *