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

               Wednesday, May 31, 2017, Vol. 18, No. 107


                            Headlines



B R A Z I L

BRAZIL: Pres. Will Remain in Office Despite Resignation Demands


C A Y M A N  I S L A N D S

CRYSTAL II: Creditors' Proofs of Debt Due June 22
FR ENERGY: Commences Liquidation Proceedings
GOOD HILL: Placed Under Voluntary Wind-Up
LONGPINE INVESTMENT: Commences Liquidation Proceedings
MARINER PACIFIC: Creditors' Proofs of Debt Due June 12

PILLERTON SERVICES: Commences Liquidation Proceedings
PLATO INVESTMENTS: Creditors' Proofs of Debt Due June 30
SYNERGY INVESTMENT: Grand Court Enters Wind-Up Order
TONGJITANG CHINESE: Creditors' Proofs of Debt Due June 12
WOOSTER OFFSHORE: Creditors' Proofs of Debt Due June 12


D O M I N I C A N   R E P U B L I C

DOMINICAN REPUBLIC: Rise in US Deportees Would Slump GDP


H A I T I

HAITI: Officials' Chaos Looks to 'Vanish' Border Market


M E X I C O

* MEXICO: Registers Surprise April Trade Surplus


P U E R T O    R I C O

AMERICAN TOOLS: Unsecureds Creditors to be Paid 3% Over 5 Years


X X X X X X X X X

CARIBBEAN: Climate Change & Flooding Threaten People on Islands


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B R A Z I L
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BRAZIL: Pres. Will Remain in Office Despite Resignation Demands
---------------------------------------------------------------
Samantha Pearson and Paulo Trevisani at The Wall Street Journal
report that Brazilian President Michel Temer is banking on the
country's tepid economic recovery to help him survive a deep
political crisis that has engulfed his government since he was
accused of accepting bribes in the nation's vast corruption
scandal.

Speaking to a small group of foreign reporters, the unpopular
leader said he expected data to show Brazil is finally emerging
from a deep recession and vowed to push ahead with pension and
labor overhauls to guarantee future growth, according to the WSJ.

"I am fully able to continue promoting the reforms, which means I
have the ability to govern," Mr. Temer told reporters at the
government-organized briefing, the report notes.  "Brazil will not
stop," he added.

His comments come after Brazil's Supreme Court released testimony
this month from executives of meatpacking giant JBS saying they
bribed 1,829 politicians, including Mr. Temer and his two
immediate predecessors, Dilma Rousseff and Luiz Inacio Lula da
Silva, the report relays.  Mr. Temer has denied wrongdoing and
repeatedly vowed to hang on to power, the report notes.  Ms.
Rousseff and Mr. da Silva have also denied wrongdoing.

"It's natural that looking at the news over recent days, investors
look at Brazil and wonder what will happen next," said Mr. Temer,
notes the report. "But now we are coming out of the recession," he
added.

Earlier, Finance Minister Henrique Meirelles said data will likely
show Brazil grew by 0.7%-0.8% in the first quarter, compared with
the previous three months. The figures would signal the end of
what has been Brazil's deepest and longest recession on record,
the report notes.

"His strategy is to survive one day at a time," said Christopher
Garman at political risk consultancy Eurasia Group.  "He will try
to win small battles in Congress to create an air of
governability," he said.

Eurasia puts the odds of Mr. Temer being ousted at 70%.  However,
Mr. Temer, in his comments to reporters, remained defiant about
his ability to serve out the rest of his term until presidential
elections in 2018, the report relays.

Mr. Temer called on Brazil's top electoral court, the TSE, for a
"quick solution" in its long-running case over whether the 2014
campaign that put him and Ms. Rousseff in power was funded
illegally, the report notes.  While the case was opened before the
recent corruption allegations against Mr. Temer, analysts believe
that the TSE may now move quickly to unseat the president in light
of growing calls for him to resign, the report relays.  Mr. Temer
declined to comment on whether he would appeal any unfavorable
decision by the court.

Instead, Mr. Temer highlighted his government's ability to push
economic change through Congress, adding that the Senate would
likely soon approve labor overhauls, the report discloses.

Analysts say that if the government manages to push fiscal reforms
through Congress they will likely be watered down in the process,
particularly one involving unpopular changes to Brazil's generous
pension system, the report relays.

"Pension reform has become much more difficult," said Paulo
Nepomuceno, an economist at foreign-exchange brokerage firm
Coinvalores, notes the report.  "The administration's support in
Congress is fragmented now," he added.

As reported in the Troubled Company Reporter-Latin America on
May 24, 2017, S&P Global Ratings placed its 'BB' long-term foreign
and local currency sovereign credit ratings on the Federative
Republic of Brazil on CreditWatch with negative implications.  S&P
also affirmed the short-term foreign and local currency ratings at
'B'. The transfer and convertibility assessment is unchanged at
'BBB-'. In addition, S&P placed the 'brAA-' national scale rating
on CreditWatch with negative implications.


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


CRYSTAL II: Creditors' Proofs of Debt Due June 22
-------------------------------------------------
The creditors of Crystal II Limited are required to file their
proofs of debt by June 22, 2017, to be included in the company's
dividend distribution.

The company commenced liquidation proceedings on May 5, 2017.

The company's liquidator is:

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


FR ENERGY: Commences Liquidation Proceedings
--------------------------------------------
The shareholders of FR Energy Growth Capital Investor GP Ltd., on
March 24, 2017, passed a resolution 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:

          Daren Schneider
          c/o Matt Bernardo
          Telephone: +1 (345)914-4268


GOOD HILL: Placed Under Voluntary Wind-Up
-----------------------------------------
The sole shareholder of Good Hill SPV Ltd., on May 2, 2017, passed
a resolution 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:

          Good Hill Partners LP
          Ogier
          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


LONGPINE INVESTMENT: Commences Liquidation Proceedings
------------------------------------------------------
The shareholders of Longpine Investment Corp., on May 5, 2017,
passed a resolution 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:

          Longpine Investment Corp.
          Jeronymo Coimbra Bueno Filho
          Rua Leoncio Correa, 161, Leblon
          Rio De Janeiro, RJ 22450120
          Brazil


MARINER PACIFIC: Creditors' Proofs of Debt Due June 12
------------------------------------------------------
The creditors of Mariner Pacific, Ltd. are required to file their
proofs of debt by June 12, 2017, to be included in the company's
dividend distribution.

The company's shareholder will hear on June 13, 2017, at
9:00 a.m., the liquidator's report on the company's wind-up
proceedings and property disposal.

The company commenced liquidation proceedings on May 4, 2017.

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


PILLERTON SERVICES: Commences Liquidation Proceedings
-----------------------------------------------------
The shareholders of Pillerton Services Ltd., on May 1, 2017,
passed a resolution 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:

          Pillerton Services Ltd.
          c/o Ricardo Araujo Ribeiral
          Rua Cinco Nr 1041
          Cidade Jardim
          cep 13500-040
          Rio Claro - Sao Paulo
          Brazil


PLATO INVESTMENTS: Creditors' Proofs of Debt Due June 30
--------------------------------------------------------
The creditors of Plato Investments Limited are required to file
their proofs of debt by June 30, 2017, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on May 4, 2017.

The company's liquidator is:

          Zedra Directors (Cayman) Limited
          c/o Felisiana Ebanks
          136 Shedden Road, One Capital Place, 3rd Floor
          P.O. Box 487 George Town
          Grand Cayman KY1-1106
          Cayman Islands
          Telephone: +1 (345) 914-5424


SYNERGY INVESTMENT: Grand Court Enters Wind-Up Order
----------------------------------------------------
The Grand Court of Cayman Islands, on April 26, 2017, entered an
order to wind up the operations of Synergy Investment
International Company Limited.

The company's liquidators are:

          David Griffin
          FTI Consulting (Cayman) Limited
          Suite 3212, 53 Market Street
          Camana Bay
          P.O. Box 30613, Grand Cayman KY1-1203
          Cayman Islands; and

          Vincent Fok
          FTI Consulting (Hong Kong) Limited
          The Center, Level 22
          99 Queen's Road Central
          Central
          Hong Kong


TONGJITANG CHINESE: Creditors' Proofs of Debt Due June 12
---------------------------------------------------------
The creditors of Tongjitang Chinese Medicines are required to file
their proofs of debt by June 12, 2017, to be included in the
company's dividend distribution.

The company commenced wind-up proceedings on May 5, 2017.

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


WOOSTER OFFSHORE: Creditors' Proofs of Debt Due June 12
-------------------------------------------------------
The creditors of Wooster Offshore Fund, Ltd. are required to file
their proofs of debt by June 12, 2017, to be included in the
company's dividend distribution.

The company commenced liquidation proceedings on May 4, 2017.

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


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


DOMINICAN REPUBLIC: Rise in US Deportees Would Slump GDP
--------------------------------------------------------
Dominican Today reports that the International Monetary Fund (IMF)
recently forecast that if the US accelerates the deportation of
people, it could depress the GDP, including Dominican Republic's.

"An intensification of recent trends in deportations could depress
per capita GDP in Central America, Panama, the Dominican Republic
and, to a lesser extent, Mexico," says the latest IMF report
titled 'Economic Perspectives-The Americas: History Of two
settings,' according to Dominican Today.

The impact is not only linked to the possibility of receiving
fewer remittances from Dominicans living in the US, but also
whether the labor market can absorb the workers who return, the
report notes.

The IMF also stressed the wage gap between the countries of origin
of people who may be deported and the US, as well as the
deteriorated confidence and country risk, the report relays.

During the first 100 days of Donald Trump's presidency, the US
arrested more than 41,000 undocumented immigrants, a 37.6 percent
jump in just one year, notes the report.

The IMF adds that a further tightening of US immigration policy
would coincide with the moderation in Dominican GDP growth, after
several years with rates as high as 7%, the report notes.

While the Dominican Republic, with 5.3% projected growth this
year, will continue to lead the region's economic growth,
increased investment in sectors such as manufacturing and
construction have slumped, which has been the factor that has led
to moderation in the economy's performance, the report adds.

As reported in the Troubled Company Reporter-Latin America on
May 1, 2017, S&P Global Ratings affirmed its 'BB-/B' long- and
short-term sovereign credit ratings on the Dominican Republic.
The outlook remains stable.  The transfer and convertibility (T&C)
assessment is unchanged at 'BB+'.


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H A I T I
=========


HAITI: Officials' Chaos Looks to 'Vanish' Border Market
-------------------------------------------------------
Dominican Today reports that Haiti customs and immigration
inspectors again barred the entry of several national farm and
other products, without explaining the measure.

Moreover, Dominican merchants said the measures by Haitian
authorities caused sales to fall by more than 50 percent,
according to Dominican Today.

Giovanni Escotto, who heads the association of freight haulers,
complained that Haitians cause difficulties to trade between both
countries, the report notes.  "They (the Haitians) do what they
want with the Dominicans," the report quoted Mr. Escotto as
saying.

Moreover, Dajabon Merchants Association president Abigail Bueno
said the attitude by Haitian immigration and customs inspectors
hurt businesses in both nations, the report notes.

"They're apparently looking to create chaos so that the border
market disappears," he added, says the report.

Eggs, frozen and fresh chicken, pastas, sausages and green bananas
figure among the products barred from entering the neighboring
nation by land, the report notes.


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M E X I C O
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* MEXICO: Registers Surprise April Trade Surplus
------------------------------------------------
Anthony Harrup at The Wall Street Journal reports that
Mexico chalked up an unexpected $617 million trade surplus in
April as higher oil and factory exports combined with a drop in
imports of nonpetroleum goods.

Exports last month rose 3.6% to $31.48 billion from the same
period a year earlier, while imports fell 5% to $30.87 billion,
the National Statistics Institute said, according to the WSJ.  The
surplus brought the trade balance for the first four months of the
year to a deficit of $2.16 billion, the report notes.

The April surplus compared with an expected deficit of $1.59
billion, according to the median estimate of economists polled by
The Wall Street Journal.

Petroleum exports rose 26.9% in April to $1.68 billion thanks
largely to higher crude-oil prices, the report relays.  Crude
exports by volume were little changed from March and from a year
earlier at 1.02 million barrels a day, the report says.

Exports of manufactured goods increased a modest 1.9% from a year
ago, with growth likely affected by the Easter holiday week that
fell in April this year compared with March of 2016, the report
relays.  Vehicles and auto-parts shipments abroad rose 1.5% and
other factory exports were 2.1% higher, the report notes.

Most categories of imports were lower than a year before, except
for petroleum products which increased 15.4% to $2.87 billion.
Mexico exports crude oil, but imports large quantities of
gasoline, diesel and natural gas, the report says.

Non-oil consumer goods imports fell 7.2%, intermediate goods used
in production processes declined 5.3%, and imports of equipment
and machinery slid 4.9%, the report adds.



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P U E R T O    R I C O
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AMERICAN TOOLS: Unsecureds Creditors to be Paid 3% Over 5 Years
---------------------------------------------------------------
Unsecured creditors of American Tools Inc. will get 3% of their
claims under the company's proposed plan to exit Chapter 11
protection.

Under the proposed plan of reorganization, creditors holding Class
3 general unsecured claims will receive a monthly payment of
$1,786.39 for 60 months for a total of $107,183.32.  Payments will
start 30 days after confirmation of the plan.

General unsecured creditors assert a total of $3,572,777.31 in
claims.  Class 3 is impaired.

Source of funds for payments is the collection of postpetition
sales.  Net monthly business income is projected to cover the
total monthly payment of $7,740 proposed under the plan for
secured claims, priority tax debts, and general unsecured claims,
according to American Tools' disclosure statement filed on May 16
with the U.S. Bankruptcy Court in Puerto Rico.

A copy of the disclosure statement is available for free at

                      https://is.gd/Q98MjN

                      About American Tools

American Tools, Inc. manufactures custom sheet metal products in
its facilities in Bayamon, Puerto Rico.

The Debtor sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. P.R. Case No. 16-08071) on October 7, 2016.  Jimmy
Cepeda Benavides, vice-president and treasurer, signed the
petition.  At the time of the filing, the Debtor estimated assets
of less than $1 million and liabilities of $1 million to $10
million.

The case is assigned to Judge Brian K. Tester.  The Debtor hired
the Law Offices of Emily D. Davila as its legal counsel.


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X X X X X X X X X
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CARIBBEAN: Climate Change & Flooding Threaten People on Islands
---------------------------------------------------------------
A new study by the Inter-American Development Bank (IDB) estimates
that 4.2 million people in Small Island Developing States (SIDS)
in the Caribbean and in the Pacific are living in areas that are
prone to flooding due to rising sea levels.

In addition to coastal erosion, rising sea levels are expected to
negatively impact economic output and employment and could
aggravate inflation and cause an increase in government debt,
according to the study, A Blue Urban Agenda: Adapting to Climate
Change in the Coastal Cities of Caribbean and Pacific Small Island
Developing States.

"Caribbean and Pacific coastal cities are on the frontlines of
climate change," said Michael G. Donovan, Senior Urban Specialist
at the IDB, co-author of the study. "It is critical to adapt and
improve the resilience of cities in coastal zones, especially
those experiencing rapid urbanization. Mayors in port cities
across the globe could benefit from the policies that Small Island
Developing States are developing as their governments respond to
coastal transformation," he added.

One out of five residents of Caribbean and Pacific SIDS live in
low-elevation coastal zones, which are defined as areas with
elevations less than 10 meters above sealevel. This is most
extreme in The Bahamas and the Republic of the Marshall Islands,
where over 80 percent of the population lives at low elevations,
the study said.

The good news is that the international community has begun
responding to the challenge. The study reviews aid and private
sector flows totaling US$55.6 billion provided to Caribbean and
Pacific SIDS over a 20-year period ending in 2015 and found that
increasing emphasis has recently been placed on comprehensive
programs for strengthening coastal city resiliency.

The report also analyzes how Caribbean and Pacific SIDS have
leveraged nearly $800 million in green climate funding to support
coastal resilience. "The donor community and the SIDS have been
innovative in their efforts to solve this problem in the context
of what is known as the 'Blue Urban Agenda'. The challenge facing
SIDS government officials is investing in protection of their
highly vulnerable coastal cities before the damage occurs," said
Michelle Mycoo, lead author from the University of West Indies,
St. Augustine, located in Trinidad and Tobago.

The study reviewed the efforts made by Caribbean and Pacific SIDS
to implement adaptation strategies aimed at reducing vulnerability
and enhancing sustainability. It shows an increasing emphasis on
urban governance and institutional capacity building within city
planning agencies.

The report also includes several policy recommendations for making
towns and cities more resilient to climate change. Those measures
include improving coastal planning, land reclamation, coastal
setbacks, enforcement of building codes, climate-proofing
infrastructure, mangrove reforestation, and coastal surveying and
monitoring.

The report analyzed more than 50 projects in SIDS financed by the
IDB, United States Agency for International Development (USAID),
World Bank, UN-Habitat, Japan International Cooperation Agency
(JICA), German Corporation for International Cooperation (GIZ),
Asian Development Bank, European Union, UK Department for
International Development (DFID), UNDP,CARICOM, Australian Agency
for International Development (AUSAid), and the Pacific Community.

These projects are located in Bridgetown (Barbados), Kingston
(Jamaica), Suva (Fiji), Majuro (Marshall Islands), Nassau
(Bahamas), Port-au-Prince (Haiti), Port Moresby (Papua New
Guinea), and other coastal cities.

This is the first report from the IDB to compare coastal cities in
ecologically fragile Caribbean and Pacific Small Island Developing
States. The IDB plans to share lessons learned from SIDS with
Brazil, where 13.5 million people live in low-elevation coastal
zones.

A Blue Urban Agenda: Adapting to Climate Change in the Coastal
Cities of Caribbean and Pacific Small Island Developing States
provides strategies to implement commitments for SIDS in
international agreements, such as the Small Island Developing
States Accelerated Modalities of Action resolution (Samoa
Pathway), COP21, the Sustainable Development Goals, and Habitat
III. The report follows the IDB Group's announcement last year
that it would increase the volume of climate-related financing to
30 percent of operational approvals by the end of 2020.


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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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                            ***********


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
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Information contained herein is obtained from sources believed to
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The TCR Latin America subscription rate is US$775 per half-year,
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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 Joseph Cardillo at
856-381-8268.


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