TCRLA_Public/170822.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

               Tuesday, August 22, 2017, Vol. 18, No. 166


                            Headlines



A R G E N T I N A

ARGENTINA: Pos.-Impact Investment, a Recipe for Social Problems
SED INTERNATIONAL: Court Extends Plan Filing Until Oct. 4


B R A Z I L

TK HOLDINGS: Tort Panel Taps Sakura Kyodo as Special Counsel
TK HOLDINGS: Tort Panel Taps Pachulski Stang as Legal Counsel
TK HOLDINGS: Tort Panel Taps Gilbert LLP as Insurance Counsel


D O M I N I C A N   R E P U B L I C

DOMINICAN REPUBLIC: Anti-Money Laundering Law Could Hurt Profits
DOMINICAN REPUBLIC: Adozona Rejects Amendment to Law 139-97


J A M A I C A

JAMAICA RAILWAY: Minister Awaits Info on Privatization


M E X I C O

HAHN HOTELS: Wants to Use Cash Collateral Through Dec. 2


P U E R T O    R I C O

ADLER GROUP: Wants Exclusive Plan Filing Deadline Moved to Dec. 15
ESTEBAN DISTRIBUTOR: Wants More Time to Confirm Plan
RISE ENTERPRISES: Wants to Use Cash Collateral Until Sept. 5
SHORT BARK: Creditors' Panel Hires Lowenstein Sandler as Counsel
SHORT BARK: Committee Hires Gellert Scali as Delaware Counsel

SHORT BARK: Creditors' Panel Hires Teneo as Financial Advisor
SHORT BARK: Hires Bielli & Klauder as Counsel


T R I N I D A D  &  T O B A G O

TRINIDAD  &  TOBAGO: TDC Retrenchments Will Destabilize Country


V E N E Z U E L A

PETROLEOS DE VENEZUELA: Tanker Untouched, Banks Wary to Issue LOC


                            - - - - -



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

ARGENTINA: Pos.-Impact Investment, a Recipe for Social Problems
---------------------------------------------------------------
EFE News reports that responsible investments seeking to have a
positive impact on society and the environment, as well as
producing an acceptable financial return, are the economic recipe
to be implemented by Buenos Aires to try and alleviate the
problems of youth unemployment in the southern part of the
capital.

The formula will be applied in the investment market along with
other financial products like investment funds, including Social
Impact Bonds (BIS) linking the private and public sectors,
according to EFE News.

                           *     *    *

As reported in the Troubled Company Reporter-Latin America on
May 10, 2017, Fitch Ratings affirmed Argentina's Long-Term Foreign
and Local Currency Issuer Default Ratings (IDRs) at 'B' with a
Stable Outlook. The issue ratings on Argentina's senior unsecured
Foreign and Local Currency bonds are also affirmed at 'B'. The
Country Ceiling is affirmed at 'B' and the Short-Term Foreign and
Local Currency IDRs at 'B'.

On Jan. 30, 2017, the Troubled Company Reporter-Latin America
reported that 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.

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.


SED INTERNATIONAL: Court Extends Plan Filing Until Oct. 4
----------------------------------------------------------
Judge Wendy L. Hagenau of the U.S. Bankruptcy Court for the
Northern District of Georgia extended SED International Holdings,
Inc., and SED International, Inc.'s exclusive periods for filing a
plan of reorganization and soliciting acceptances to the plan, to
Oct. 4, 2017, and Dec. 5, 2017, respectively.

This is the Debtor's second motion requesting for an extension of
the exclusive periods.

                     About SED International

Founded in 1980, SED International Holdings, Inc., is a
multinational, preferred distributor of leading computer
technology, consumer electronics, and small appliance products.
The company also offers custom-tailored supply chain management
services ideally suited to meet the priorities and distribution
requirements of the e-commerce, business-to-business and
business-to-consumer markets.

Headquartered near Atlanta, Georgia with business operations in
California; Florida; Georgia; Bogota, Colombia and Buenos Aires,
Argentina, SED serves a customer base of over 10,000 channel
partners and retailers in the United States, Latin America, and
Caribbean.

On Feb. 24, 2016, Hill, Kertscher & Wharton, LLC, filed an
involuntary petition for relief under Chapter 7 of the Bankruptcy
Code against Holdings.  Alan Rothman joined in the involuntary
petition on March 31, 2016, and Brother International Corp. on
April 6, 2016.

On Sept. 14, 2016, the court converted the Chapter 7 case to one
under Chapter 11 (Bankr. N.D. Ga. Case No. 16-53376).

Based in Lawrenceville, Ga., SED International, Inc., filed a
Chapter 11 bankruptcy petition (Bankr. N.D. Ga. Case No. 16-66019)
on Sept. 9, 2016, listing under $1 million in total assets and
between $10 million to $50 million in liabilities.  The petition
was signed by Sham Gad, CEO.

The Debtors' cases are being jointly administered under Case No.
16-53376.  No official committee of unsecured creditors, trustee
or examiner has been appointed in the cases.

Robert J. Williamson, Esq., and Ashley Reynolds Ray, Esq., at
Scroggins & Williamson P.C., serve as the Debtors' counsel.
Finley, Colmer and Company was tapped by the Debtors to provide
interim management services.  Heritage & FB Consultant Group
S.A.S. is the investment banker.


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


TK HOLDINGS: Tort Panel Taps Sakura Kyodo as Special Counsel
------------------------------------------------------------
The committee representing TK Holdings Inc.'s tort claimants seeks
approval from the U.S. Bankruptcy Court in Delaware to hire Sakura
Kyodo Law Offices as its special counsel.

The firm will provide legal services to the committee related to
the civil rehabilitation proceedings commenced by Takata Corp. and
its two Japan-based units under the Civil Rehabilitation Act of
Japan.  These services include assisting the committee in the
negotiation and formulation of any rehabilitation plan filed by
Takata.

The hourly rates charged by Sakura Kyodo professionals designated
to represent the committee are:

     Koji Takeuchi         $600
     Junichi Aratake       $500
     Naoki Ueda            $400
     Kentaro Kobayashi     $300

Koji Takeuchi disclosed in a court filing that the firm is a
"disinterested person" as defined in section 101(14) of the
Bankruptcy Code, according to court filings.

In accordance with Appendix B-Guidelines for reviewing fee
applications filed by attorneys in larger Chapter 11 cases, Sakura
Kyodo disclosed that it has not agreed to any variations from, or
alternatives to, standard or customary billing arrangements for
its employment with the committee, and that no Sakura Kyodo
professional has varied his rate based on the geographic location
of the case.

The firm also disclosed that the committee has already approved
its staffing and prospective budget.

The hearing to consider approval of the committee's request is
scheduled for August 30.

Sakura Kyodo can be reached through:

     Koji Takeuchi, Esq.
     Sakura Kyodo Law Offices
     NBF Hibiya Bldg. 16F 1-1-7 Uchisaiwaicho
     Chiyoda-ku, Tokyo 100-0011
     Tel: 03 (5511) 4400
     Fax: 03 (5511) 4411

                        About Takata Corp

Japan-based Takata Corporation (TYO:7312) --
http://www.takata.com/en/-- develops, manufactures and sells
safety products for automobiles.  The Company offers seatbelts,
airbags, steering wheels, child seats and trim parts.
Headquartered in Tokyo, Japan, Takata operates 56 plants in 20
countries with approximately 46,000 global employees worldwide.
The Company has subsidiaries located in Japan, the United States,
Brazil, Germany, Thailand, Philippines, Romania, Singapore, Korea,
China and other countries.

Takata Corp. filed for bankruptcy protection in Tokyo and the
U.S., amid recall costs and lawsuits over its defective airbags.
Takata and its Japanese subsidiaries commenced proceedings under
the Civil Rehabilitation Act in Japan in the Tokyo District Court
on June 25, 2017.

Takata's main U.S. subsidiary TK Holdings Inc. and 11 of its U.S.
and Mexican affiliates each filed voluntary petitions under
Chapter11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case
No. 17-11375) on June 25, 2017.

Together with the bankruptcy filings, Takata announced it has
reached a deal to sell all its global assets and operations to Key
Safety Systems (KSS) for US$1.588 billion.

Nagashima Ohno & Tsunematsu is Takata's counsel in the Japanese
proceedings.  Weil, Gotshal & Manges LLP and Richards, Layton &
Finger, P.A., are serving as counsel in the U.S. cases.
PricewaterhouseCoopers is serving as financial advisor, and Lazard
is serving as investment banker to Takata.  Ernst & Young LLP is
tax advisor.  Prime Clerk is the claims and noticing agent.

Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal
counsel, KPMG is serving as financial advisor, Jefferies LLC is
acting as lead financial advisor.  UBS Investment Bank also
provides financial advice to KSS.

On June 28, 2017, TK Holdings, as the foreign representative of
the Chapter 11 Debtors, obtained an order of the Ontario Superior
Court of Justice (Commercial List) granting, among other things, a
stay of proceedings against the Chapter 11 Debtors pursuant to
Part IV of the Companies' Creditors Arrangement Act.  The Canadian
Court appointed FTI Consulting Canada Inc. as information officer.
TK Holdings, as the foreign representative, is represented by
McCarthy Tetrault LLP.

The U.S. Trustee has appointed an Official Committee of Unsecured
Trade Creditors and a separate Official Committee of Tort
Claimants.

The Official Committee of Unsecured Creditors has selected
Christopher M. Samis, Esq., L. Katherine Good, Esq., and Kevin F.
Shaw, Esq., at Whiteford, Taylor & Preston LLC, in Wilmington,
Delaware; Dennis F. Dunne, Esq., Abhilash M. Raval, Esq., and
Tyson Lomazow, Esq., at Milbank Tweed Hadley & McCloy LLP, in New
York; and Andrew M. Leblanc, Esq., at Milbank, Tweed, Hadley &
McCloy LLP, in Washington, D.C., as its bankruptcy counsel.

                         Chapter 15 Cases

Takata Corporation ("TKJP") and affiliates Takata Kyushu
Corporation and Takata Services Corporation commenced Chapter 15
cases (Bankr. D. Del. Case Nos. 17-11713 to 17-11715) on Aug. 9,
2017, to seek U.S. recognition of the civil rehabilitation
proceedings in Japan. The Hon. Brendan Linehan Shannon oversees
the Chapter 15 cases.  Young, Conaway, Stargatt & Taylor, LLP,
serves as Takata's counsel in the Chapter 15 cases.


TK HOLDINGS: Tort Panel Taps Pachulski Stang as Legal Counsel
-------------------------------------------------------------
The committee representing TK Holdings Inc.'s tort claimants seeks
approval from the U.S. Bankruptcy Court in Delaware to hire
Pachulski Stang Ziehl & Jones LLP as its legal counsel.

The firm will, among other things, represent the committee in its
consultations with TK Holdings and its affiliates; give advice on
any potential sale of their assets; and assist in the preparation
of a bankruptcy plan.

The hourly rates charged by the firm range from $625 to $1,245 for
partners, $575 to $995 for of counsel, $450 to $595 for
associates, and $275 to $350 for paraprofessionals.

Laura Davis Jones, Esq., disclosed in a court filing that her firm
is a "disinterested person" as defined in section 101(14) of the
Bankruptcy Code.

In accordance with Appendix B-Guidelines for reviewing fee
applications filed by attorneys in larger Chapter 11 cases, Ms.
Jones disclosed that her firm has not agreed to any variations
from, or alternatives to, its standard or customary billing
arrangements for its employment with the committee.

Ms. Jones also disclosed that no Pachulski professional has varied
his rate based on the geographic location of the Debtors' cases,
and that the committee has already approved the firm's staffing
and prospective budget.

The hearing to consider approval of the committee's request is
scheduled for August 30.

Pachulski can be reached through:

     Laura Davis Jones, Esq.
     James I. Stang, Esq.
     Pachulski Stang Ziehl & Jones LLP
     919 North Market Street, 17th Floor
     P.O. Box 8705
     Wilmington, DE 19899
     Tel: 302-652-4100
     Fax: 302-652-4400
     Email: ljones@pszjlaw.com
     Email: jstang@pszjlaw.com

                        About Takata Corp

Japan-based Takata Corporation (TYO:7312) --
http://www.takata.com/en/-- develops, manufactures and sells
safety products for automobiles.  The Company offers seatbelts,
airbags, steering wheels, child seats and trim parts.
Headquartered in Tokyo, Japan, Takata operates 56 plants in 20
countries with approximately 46,000 global employees worldwide.
The Company has subsidiaries located in Japan, the United States,
Brazil, Germany, Thailand, Philippines, Romania, Singapore, Korea,
China and other countries.

Takata Corp. filed for bankruptcy protection in Tokyo and the
U.S., amid recall costs and lawsuits over its defective airbags.
Takata and its Japanese subsidiaries commenced proceedings under
the Civil Rehabilitation Act in Japan in the Tokyo District Court
on June 25, 2017.

Takata's main U.S. subsidiary TK Holdings Inc. and 11 of its U.S.
and Mexican affiliates each filed voluntary petitions under
Chapter11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case
No. 17-11375) on June 25, 2017.

Together with the bankruptcy filings, Takata announced it has
reached a deal to sell all its global assets and operations to Key
Safety Systems (KSS) for US$1.588 billion.

Nagashima Ohno & Tsunematsu is Takata's counsel in the Japanese
proceedings.  Weil, Gotshal & Manges LLP and Richards, Layton &
Finger, P.A., are serving as counsel in the U.S. cases.
PricewaterhouseCoopers is serving as financial advisor, and Lazard
is serving as investment banker to Takata.  Ernst & Young LLP is
tax advisor.  Prime Clerk is the claims and noticing agent.

Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal
counsel, KPMG is serving as financial advisor, Jefferies LLC is
acting as lead financial advisor.  UBS Investment Bank also
provides financial advice to KSS.

On June 28, 2017, TK Holdings, as the foreign representative of
the Chapter 11 Debtors, obtained an order of the Ontario Superior
Court of Justice (Commercial List) granting, among other things, a
stay of proceedings against the Chapter 11 Debtors pursuant to
Part IV of the Companies' Creditors Arrangement Act.  The Canadian
Court appointed FTI Consulting Canada Inc. as information officer.
TK Holdings, as the foreign representative, is represented by
McCarthy Tetrault LLP.

The U.S. Trustee has appointed an Official Committee of Unsecured
Trade Creditors and a separate Official Committee of Tort
Claimants.

The Official Committee of Unsecured Creditors has selected
Christopher M. Samis, Esq., L. Katherine Good, Esq., and Kevin F.
Shaw, Esq., at Whiteford, Taylor & Preston LLC, in Wilmington,
Delaware; Dennis F. Dunne, Esq., Abhilash M. Raval, Esq., and
Tyson Lomazow, Esq., at Milbank Tweed Hadley & McCloy LLP, in New
York; and Andrew M. Leblanc, Esq., at Milbank, Tweed, Hadley &
McCloy LLP, in Washington, D.C., as its bankruptcy counsel.

                         Chapter 15 Cases

Takata Corporation ("TKJP") and affiliates Takata Kyushu
Corporation and Takata Services Corporation commenced Chapter 15
cases (Bankr. D. Del. Case Nos. 17-11713 to 17-11715) on Aug. 9,
2017, to seek U.S. recognition of the civil rehabilitation
proceedings in Japan. The Hon. Brendan Linehan Shannon oversees
the Chapter 15 cases.  Young, Conaway, Stargatt & Taylor, LLP,
serves as Takata's counsel in the Chapter 15 cases.


TK HOLDINGS: Tort Panel Taps Gilbert LLP as Insurance Counsel
-------------------------------------------------------------
The committee representing TK Holdings Inc.'s tort claimants seeks
approval from the U.S. Bankruptcy Court in Delaware to hire
Gilbert LLP.

The firm will, among other things, advise the committee in its
evaluation of the insurance policies of TK Holdings and its
affiliates; consult with the Debtors and insurers regarding those
policies; and advise the committee on insurance-related matters in
connection with the formulation of a plan of reorganization.

The hourly rates charged by the firm range from $650 to $1,200 for
partners, $295 to $575 for associates, and $180 to $275 for
paraprofessionals.  The hourly rate for of counsel is $595.

Gilbert is a "disinterested person" as defined in section 101(14)
of the Bankruptcy Code, according to court filings.

In accordance with Appendix B-Guidelines for reviewing fee
applications filed by attorneys in larger Chapter 11 cases, the
firm disclosed that it has not agreed to any variations from, or
alternatives to, its standard or customary billing arrangements
for its employment with the committee, and that no Gilbert
professional has varied his rate based on the geographic location
of the Debtors' cases.

The firm also disclosed that the committee has already approved
its staffing and prospective budget.

The hearing to consider approval of the committee's request is
scheduled for August 30.

Gilbert can be reached through:

     Kami E. Quinn, Esq.
     Gilbert LLP
     1100 New York Avenue, NW, Suite 700
     Washington, D.C. 20005
     Phone: 202-772-2200
     Fax: 202-772-3333
     Email: info@gotofirm.com

                        About Takata Corp

Japan-based Takata Corporation (TYO:7312) --
http://www.takata.com/en/-- develops, manufactures and sells
safety products for automobiles.  The Company offers seatbelts,
airbags, steering wheels, child seats and trim parts.
Headquartered in Tokyo, Japan, Takata operates 56 plants in 20
countries with approximately 46,000 global employees worldwide.
The Company has subsidiaries located in Japan, the United States,
Brazil, Germany, Thailand, Philippines, Romania, Singapore, Korea,
China and other countries.

Takata Corp. filed for bankruptcy protection in Tokyo and the
U.S., amid recall costs and lawsuits over its defective airbags.
Takata and its Japanese subsidiaries commenced proceedings under
the Civil Rehabilitation Act in Japan in the Tokyo District Court
on June 25, 2017.

Takata's main U.S. subsidiary TK Holdings Inc. and 11 of its U.S.
and Mexican affiliates each filed voluntary petitions under
Chapter11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case
No. 17-11375) on June 25, 2017.

Together with the bankruptcy filings, Takata announced it has
reached a deal to sell all its global assets and operations to Key
Safety Systems (KSS) for US$1.588 billion.

Nagashima Ohno & Tsunematsu is Takata's counsel in the Japanese
proceedings.  Weil, Gotshal & Manges LLP and Richards, Layton &
Finger, P.A., are serving as counsel in the U.S. cases.
PricewaterhouseCoopers is serving as financial advisor, and Lazard
is serving as investment banker to Takata.  Ernst & Young LLP is
tax advisor.  Prime Clerk is the claims and noticing agent.

Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal
counsel, KPMG is serving as financial advisor, Jefferies LLC is
acting as lead financial advisor.  UBS Investment Bank also
provides financial advice to KSS.

On June 28, 2017, TK Holdings, as the foreign representative of
the Chapter 11 Debtors, obtained an order of the Ontario Superior
Court of Justice (Commercial List) granting, among other things, a
stay of proceedings against the Chapter 11 Debtors pursuant to
Part IV of the Companies' Creditors Arrangement Act.  The Canadian
Court appointed FTI Consulting Canada Inc. as information officer.
TK Holdings, as the foreign representative, is represented by
McCarthy Tetrault LLP.

The U.S. Trustee has appointed an Official Committee of Unsecured
Trade Creditors and a separate Official Committee of Tort
Claimants.

The Official Committee of Unsecured Creditors has selected
Christopher M. Samis, Esq., L. Katherine Good, Esq., and Kevin F.
Shaw, Esq., at Whiteford, Taylor & Preston LLC, in Wilmington,
Delaware; Dennis F. Dunne, Esq., Abhilash M. Raval, Esq., and
Tyson Lomazow, Esq., at Milbank Tweed Hadley & McCloy LLP, in New
York; and Andrew M. Leblanc, Esq., at Milbank, Tweed, Hadley &
McCloy LLP, in Washington, D.C., as its bankruptcy counsel.

                         Chapter 15 Cases

Takata Corporation ("TKJP") and affiliates Takata Kyushu
Corporation and Takata Services Corporation commenced Chapter 15
cases (Bankr. D. Del. Case Nos. 17-11713 to 17-11715) on Aug. 9,
2017, to seek U.S. recognition of the civil rehabilitation
proceedings in Japan. The Hon. Brendan Linehan Shannon oversees
the Chapter 15 cases.  Young, Conaway, Stargatt & Taylor, LLP,
serves as Takata's counsel in the Chapter 15 cases.


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


DOMINICAN REPUBLIC: Anti-Money Laundering Law Could Hurt Profits
----------------------------------------------------------------
Dominican Today reports that business leaders are concerned over
potential declining profits once the Anti-money Laundering and
Terrorism Financing Law is enforced.

The construction and real estate sector fear a likely decline in
that economic activity, while industrialists see a negative impact
on drawing investments by businesses across the country, according
to Dominican Today.

There's also the belief that an abrupt enforcement can take a
toll, which, they say, can be serious because it involves severe
administrative and even criminal penalties, the report notes.

In addition to banks sectors such as construction, real estate and
motor vehicles, which fall under Law 155-17, and whose activities
are obliged to establish the origin of the funds they handle and
must report any suspicious situation of their customers or
suppliers, the report relays.

Maria Gaton, president of the Dominican Housing Builders and
Promoters Association (Acoprovi), said the immediate effect on the
sector -- which is one of the most sensitive to money laundering
-- is that "the cost of managing companies will rise because now
need a unit trained on due diligence to which the rules," the
report notes.

She said the rules, which are nothing other than to monitor that
neither the company that sells them land for housing, through
material suppliers, up to final purchasers of the units, are
involved in money laundering or terrorism financing, the report
relays.

"In addition, like the industrialists, we're concerned that it
could slow the sector's activity because maybe not many people
have all their money transparently, I do not know. We fear that
the activity could reduce, could decline," she said, the report
adds.

As reported in Troubled Company Reporter-Latin America on July 24,
2017, Moody's Investors Service has upgraded the Dominican
Republic's long term issuer and debt ratings to Ba3 from B1 and
changed the outlook to stable from positive, based on the
following key drivers:

(1) The Dominican Republic's continued robust growth outlook
     compared to rating peers, coupled with a reduction in
     external risks as current account deficits have declined and
     international reserves have increased.

(2) The reduction in fiscal deficits over the last four years and
     Moody's expectation that fiscal deficits will remain shy of
     3% of GDP, supported by fiscal restraint and reduced
     transfers to the electricity sector.


DOMINICAN REPUBLIC: Adozona Rejects Amendment to Law 139-97
-----------------------------------------------------------
Dominican Today reports that the Dominican Free Zones Association
(Adozona) Executive Vice President Jose Manuel Torres rejected the
Chamber of Deputies amendments to law 139-97 on the mobility of
holidays which lead to 3-day weekends.

He said the bill would hurt the productivity of various sectors,
as well as employees, since in his view, interrupts working hours,
according to Dominican Today.

"As a free zone sector, we agree with the position of
industrialists on the proposed amendments to Law 139-97. Our role
as observers of the country's development is to foster and
maintain a stable business environment, and at the same time
contribute to the well-being of our employees and the population
in general," the report quoted Mr. Torres as saying.

Mr. Torres said Law 139-97 has been positive for productive
activities and family coexistence, by reducing interruptions in
operations and at the same time promoting longer rest periods,
without the need to create new holidays, the report notes.

As reported in Troubled Company Reporter-Latin America on July 24,
2017, Moody's Investors Service has upgraded the Dominican
Republic's long term issuer and debt ratings to Ba3 from B1 and
changed the outlook to stable from positive, based on the
following key drivers:

(1) The Dominican Republic's continued robust growth outlook
     compared to rating peers, coupled with a reduction in
     external risks as current account deficits have declined and
     international reserves have increased.

(2) The reduction in fiscal deficits over the last four years and
     Moody's expectation that fiscal deficits will remain shy of
     3% of GDP, supported by fiscal restraint and reduced
     transfers to the electricity sector.


=============
J A M A I C A
=============


JAMAICA RAILWAY: Minister Awaits Info on Privatization
------------------------------------------------------
RJR News reports that Transport Minister Mike Henry is now
awaiting crucial information regarding the privatization of the
Jamaica Railway Corporation.

It is expected to be submitted ahead of the expiration of the
Memorandum of Understanding with the entity interested in taking
over the JRC's operations, according to RJR News.

"We are waiting on some business plans along specific areas on the
redevelopment of the railway.  In light of it being an MOU with an
expiry time date we extended it from six months to nine months. We
have another month to go in that nine months . . .  I am analyzing
from my end, the areas of approach as I wait on some business plan
details from the persons pursuing Herzog," the report quoted
Minister Henry as saying.

News came late last year that US$250 million will be invested in
the resuscitation of the country's cargo and passenger rail
service by the government and several investors, including US
company Herzog International, the report notes.


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


HAHN HOTELS: Wants to Use Cash Collateral Through Dec. 2
--------------------------------------------------------
Hahn Hotels of Sulphur Springs, LLC, et al., seek authorization
from the U.S. Bankruptcy Court for the Eastern District of Texas
to continue using cash collateral of prepetition lenders Austin
Bank, First National Bank of Hughes Springs, Texas Bank and Trust
Company, Texas National Bank, Pilgrim Bank, and the Small Business
Association from Sept. 3, 2017, through Dec. 2, 2017.

The Debtors grant the Prepetition Lenders replacement liens in
property acquired by the Debtors after the Petition Date, which is
of the same nature, kind and character as the prepetition
collateral, and all proceeds and products thereof solely to secure
any diminution in the interests of the Prepetition Lenders
resulting from the use of the cash collateral; provided, however,
the replacement liens will not encumber any claims or causes of
action arising under Chapter 5 of the U.S. Bankruptcy Code and all
proceeds and products thereof.

If and to the extent the adequate protection of the interests of
the Prepetition Lenders under the third cash collateral court
order proves insufficient, the Prepetition Lenders will have,
among other remedies, if any, determined by the Court, an allowed
claim under Section 507(b) of the Bankruptcy Code in the amount of
any insufficiency.

The Debtors believe that the asset value of each property securing
the repayment obligations on debt owed to the Prepetition Lenders
is greater than the amount of the debt.

The Debtors submit that, under the circumstances, the equity
cushion in the assets securing the repayment obligations on the
Prepetition Lenders' debt adequately protects the Prepetition
Lenders from any diminution of their interests in the cash
collateral resulting from use.

A copy of the Debtors' Motion is available at:

          http://bankrupt.com/misc/txeb17-40947-175.pdf

As reported by the Troubled Company Reporter on July 7, 2017, the
Court previously authorized the Debtors to use cash collateral for
the time period from July 9, 2017, through Sept. 2, 2017.

                        About Hahn Hotels

Headquartered in Sulphur Springs, Texas, Hahn Hotels of Sulphur
Springs, LLC, owns the La Quinta Inns and Suites, which provides
hotel accommodations for business and leisure travelers across the
United States, Canada, and Mexico.

Hahn Hotels of Sulphur Springs, LLC, along with its affiliates,
including Hahn Investments, LLC, sought Chapter 11 protection
(Bankr. E.D. Tex. Lead Case No. 17-40947) on May 1, 2017.  The
petitions were signed by Dante Hahn, president.

Judge Brenda T. Rhoades presides over the cases.

Hahn Hotels of Sulphur estimated its assets and liabilities of
between $1 million and $10 million.  Hahn Investments estimated
its assets and liabilities of between $10 million and $50 million.

Jessica Leigh Voyce Lewis, Esq., and Judith W. Ross, Esq., at The
Law Offices of Judith W. Ross and Eric Soderlund, Esq., who has an
office in Dallas Texas, serve as the Debtors' bankruptcy counsel.


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P U E R T O    R I C O
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ADLER GROUP: Wants Exclusive Plan Filing Deadline Moved to Dec. 15
------------------------------------------------------------------
Adler Group, Inc., requests the U.S. Bankruptcy Court for the
District of Puerto Rico to extend the exclusivity period to submit
its disclosure statement and plan of reorganization by 120 days
until Dec. 15, 2017, from Aug. 18.

The Debtor also asked that the deadline to procure the votes under
the plan be extended for a term of 60 days after the order
granting the approval of the disclosure statement is entered.

The Debtor says it has moved forward in its reorganization process
and is in compliance with all of its duties under the Bankruptcy
Code and the Guidelines of the U.S. Trustee.  The Debtor attended
the meeting of creditors, which was held and closed, and appeared
at the status conference.

The Debtor states that it is in the process of conducting an
assessment of its claims in order to enter into negotiations with
key creditors that are necessary in order to propose the plan.
Nevertheless, the deadline to submit proofs of claims expires on
Oct. 24, 2017.  It is indispensable for Debtor to be able to
reconcile all claims in order to propose a complete, viable and
effective plan that accounts for all claims.  Due to the need of
reconciling all timely filed claims and concluding negotiations
with creditors, the Debtor says it is not in a position, at this
juncture, to file its Disclosure Statement and Plan of
Reorganization.

The Debtor says its request for extension of the exclusivity
period contemplates the deadline for creditors to file proofs of
claim and, will allow it to conclude the reconciliations and
negotiations with creditors.

                     About Adler Group Inc.

Adler Group Inc. owns the Caguas Military property located at Carr
189 km 3.1 (interior) Rincon Ward, Gurabo Puerto Rico, which is
valued at $3 million.  It holds inventory and equipment worth
$513,870.  For 2015, the Debtor posted gross revenue of $1.61
million 2015 and gross revenue of $1.91 million for 2014.

The Debtor sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D.P.R. Case No. 17-02727) on April 20, 2017.  The
petition was signed by Jose Torres Gonzalez, authorized
representative.  At the time of the filing, the Debtor disclosed
$3.52 million in assets and $4.43 million in liabilities.

The case is assigned to Judge Mildred Caban Flores.  The Debtor
hired MRO Attorneys at Law, LLC, as bankruptcy counsel.


ESTEBAN DISTRIBUTOR: Wants More Time to Confirm Plan
----------------------------------------------------
Esteban Distributor Inc. asks the U.S. Bankruptcy Court for the
District of Puerto Rico to extend the time to confirm a plan of
reorganization until Sept. 19, 2017.

The Debtor explains it needs an extension to (i) allow creditors
more opportunity to review a settlement and (ii) finish all the
issues pending that will favorably conclude in the plan being
confirmed.

On July 14, 2017, the Debtor filed small business Disclosure
Statement and Chapter 11 Plan.  On July 17, the Court entered an
order to schedule the confirmation hearing for Aug. 18 at 9:30
a.m.

On Aug. 8, Scotiabank of Puerto Rico filed an objection to the
Disclosure Statement and the confirmation of the plan.

The Debtor and creditor Scotiabank came to an agreement regarding
the objections and the confirmation of the Plan.  Although, the
stipulation filed has a shorten objection language, the Debtor
still needs to file the 1129 Statement to which creditor have a
right to review and object.

According to the Debtor, the Plan is confirmable, because it has
the necessary base to pay all creditors and has the vote of an
impaired class.  Based on the record and pursuant to Section
1121(e)(3)(A), the Debtor has demonstrated by a preponderance of
the evidence that it will confirm the plan of reorganization
within a reasonable time.  Furthermore, a new deadline should be
imposed at the time the extension is granted and the order
extending the time signed before the existing deadline expired,
thus satisfying Sections 1121(e)(3)(B) and (C).

                  About Esteban Distributor

Headquartered in Toa Baja, Puerto Rico, Esteban Distributor Inc.
filed for Chapter 11 bankruptcy protection (Bankr. D.P.R. Case No.
16-03799) on May 11, 2016, estimating its assets and liabilities
at between $100,001 and $500,000 each.  Maria Soledad Lozada
Figueroa, Esq., at MS Lozada Law Office serves as the Debtor's
bankruptcy counsel.


RISE ENTERPRISES: Wants to Use Cash Collateral Until Sept. 5
------------------------------------------------------------
Rise Enterprises, S.E., and creditor Banco Populuar de Puerto
Rico, Inc., filed with the U.S. Bankruptcy Court for the District
of Puerto Rico a joint motion regarding a provisional agreement
for the Debtor's use of the Creditor's cash collateral.

A provisional agreement was reached on Aug. 3, 2017, wherein Banco
Popular de Puerto Rico consents to the use of cash collateral
until Sept. 5, 2017, and in exchange thereof the Debtor will pay
$2,684 as interim adequate protection.  This payment was accepted
based on the preliminary budget submitted by the Debtor.

Given that Banco Popular de Puerto Rico's consent for the use of
its cash collateral beyond Sept. 5, 2017, will require future
discussions and a definite agreement, it hereby expressly reserves
all of its rights and remedies regarding the use of said moneys as
provided by Section 363 of the U.S. Bankruptcy Code and its
interpretative case law.

A copy of the Joint Motion is available at:

           http://bankrupt.com/misc/prb17-04678-27.pdf

                     About Rise Enterprises

Rise Enterprises, S.E., sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D.P.R. Case No. 17-04678) on June 30,
2017.

Ismael Falcon Ortega, partner, signed the petition.  The Debtor
estimated assets of less than $1 million and liabilities of $1
million to $10 million.

Judge Mildred Caban Flores presides over the case.

Mary Ann Gandia, Esq., at Gandia-Fabian Law Office, serves as the
Debtor's bankruptcy counsel.


SHORT BARK: Creditors' Panel Hires Lowenstein Sandler as Counsel
----------------------------------------------------------------
The Official Committee of Unsecured Creditors of Short Bark
Industries, Inc., et al., seeks authorization from the U.S.
Bankruptcy Court for the District of Delaware to retain Lowenstein
Sandler LLP, as counsel to the Committee.

The Committee requires Lowenstein Sandler to:

   a. advise the Committee with respect to its rights, duties,
      and powers in the Chapter 11 Cases;

   b. assist and advise the Committee in its consultations with
      the Debtors relative to the administration of the Chapter
      11 Cases;

   c. assist the Committee in analyzing the claims of the
      Debtors' creditors and the Debtors' capital structure and
      in negotiating with holders of claims and equity interests;

   d. assist the Committee in its investigation of the acts,
      conduct, assets, liabilities, and financial condition of
      the Debtors and of the operation of the Debtors'
      businesses;

   e. assist the Committee in its investigation of the liens and
      claims of the holders of the Debtors' pre-petition debt and
      the prosecution of any claims or causes of action revealed
      by such investigation;

   f. assist the Committee in its analysis of, and negotiations
      with, the Debtors or any third party concerning matters
      related to, among other things, the assumption or rejection
      of certain leases of nonresidential real property and
      executory contracts, asset dispositions, financing of other
      transactions and the terms of one or more plans of
      reorganization for the Debtors and accompanying disclosure
      statements and related plan documents;

   g. assist and advise the Committee as to its communications to
      unsecured creditors regarding significant matters in the
      Chapter 11 Cases;

   h. represent the Committee at hearings and other proceedings;

   i. review and analyze applications, orders, statements of
      operations, and schedules filed with the Court and advise
      the Committee as to their propriety;

   j. assist the Committee in preparing pleadings and
      applications as may be necessary in furtherance of the
      Committee's interests and objectives;

   k. prepare, on behalf of the Committee, any pleadings,
      including without limitation, motions, memoranda,
      complaints, adversary complaints, objections, or comments
      in connection with any of the foregoing; and

   l. perform such other legal services as may be required or are
      otherwise deemed to be in the interests of the Committee in
      accordance with the Committee's powers and duties as set
      forth in the Bankruptcy Code, Bankruptcy Rules, or other
      applicable law.

Lowenstein Sandler will be paid at these hourly rates:

     Partners                         $600-$1,195
     Senior Counsel and Counsel       $420-$700
     Associates                       $315-$595
     Paralegals and Assistants        $115-$310

Lowenstein Sandler will also be reimbursed for reasonable
out-of-pocket expenses incurred.

In accordance with the U.S. Trustee Guidelines, Lowenstein Sandler
shall apply for compensation for professional services rendered
and reimbursement of expenses incurred in connection with the
Debtors' Chapter 11 Cases in compliance with sections 330 and 331
of the Bankruptcy Code and applicable provisions of the Bankruptcy
Rules, Local Rules and any other applicable procedures and orders
of the Court.  Lowenstein Sandler also intends to make every
effort to comply with the U.S. Trustee's requests for information
and additional disclosures as set forth in the U.S. Trustee
Guidelines, both in connection with the Application and the
interim and final fee applications to be filed by Lowenstein
Sandler in these Capter 11 Cases.

Mary E. Seymour, a partner of Lowenstein Sandler LLP, assured the
Court that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and (a) is not
creditors, equity security holders or insiders of the Debtors; (b)
has not been, within two years before the date of the filing of
the Debtors' chapter 11 petition, directors, officers or employees
of the Debtors; and (c) does not have an interest materially
adverse to the interest of the estate or of any class of creditors
or equity security holders, by reason of any direct or indirect
relationship to, connection with, or interest in, the Debtors, or
for any other reason.

Lowenstein Sandler can be reached at:

     Mary E. Seymour, Esq.
     LOWENSTEIN SANDLER LLP
     65 Livingston Avenue
     Roseland, NJ 07068
     Tel: (973) 597-2500
     Fax: (973) 597-2400

                 About Short Bark Industries, Inc.

Short Bark Industries, Inc. -- http://www.shortbark.com/--
provides military apparels for the Department of Defense, law
enforcement industry. The company's manufactured items in the
military category include military MOLLE, medium and large
rucksacks, assault packs, IWCS, ACU, ABU, BDU, helmet covers,
FROG, A2CU and more. It offers men and boys suits, over garments,
bag, and coats. The company holds over 120,000+ square feet of
manufacturing capacity with operations in Florida, Puerto Rico and
Tennessee.

Short Bark and EXO SBI, LLC, sought bankruptcy protection (Bankr.
D. Del., Lead Case No. 17-11502) on July 10, 2017. The petitions
were signed by Phil Williams, CEO and chairman.

The Debtors listed total assets of $10 million to $50 million and
total liabilities of $10 million to $50 million.

Bielli & Klauder, LLC serves as lead bankruptcy counsel to the
Debtors.  The Debtors hired SSG Advisors, LLC and Young America
Capital, LLC as investment banker.

On July 18, 2017, the Office of the U.S. Trustee appointed an
official committee of unsecured creditors.  The Committee hired
Lowenstein Sandler LLP, as counsel, Gellert Scali Busenkell &
Brown, LLC, as Delaware counsel, and Teneo Restructuring and Teneo
Capital LLC, as investment banker.


SHORT BARK: Committee Hires Gellert Scali as Delaware Counsel
-------------------------------------------------------------
The Official Committee of Unsecured Creditors of Short Bark
Industries, Inc., et al., seeks authorization from the U.S.
Bankruptcy Court for the District of Delaware to retain Gellert
Scali Busenkell & Brown, LLC, as Delaware counsel to the
Committee.

The Committee requires Gellert Scali to:

   (a) provide legal advice regarding local rules, practices and
       procedures and provide substantive and strategic advice
       on how to accomplish Committee goals, bearing in mind that
       the Delaware Bankruptcy Court expects Delaware counsel to
       be involved on all aspects of bankruptcy proceedings;

   (b) draft, review and comment on drafts of documents to ensure
       compliance with local rules, practices and procedures;

   (c) take the lead on discrete pleading and matters as
       appropriate and requested, while ensuring that there is no
       duplication of services with Lowenstein;

   (d) draft, file and serve documents as requested by Lowenstein
       Sandler LLP;

   (e) prepare certificates of no objection, certifications of
       counsel and notices of fee applications;

   (f) print documents and pleadings for hearings, prepare
       binders of documents and pleadings for hearings;

   (g) appear in Court and at any meeting of creditors on behalf
       of the Committee in its capacity as Delaware counsel;

   (h) monitor the docket for filings and coordinating with
       Lowenstein on pending matters that may need responses;

   (i) participate in calls with the Committee; and

   (j) provide additional legal and administrative support to
       Lowenstein, as requested.

Gellert Scali will be paid at these hourly rates:

     Partner                       $425
     Associates/Of Counsel         $280
     Paraprofessionals             $105-$210

Gellert Scali will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Michael Busenkell, a partner of Gellert Scali Busenkell & Brown,
LLC, assured the Court that the firm is a "disinterested person"
as the term is defined in Section 101(14) of the Bankruptcy Code
and (a) is not creditors, equity security holders or insiders of
the Debtors; (b) has not been, within two years before the date of
the filing of the Debtors' chapter 11 petition, directors,
officers or employees of the Debtors; and (c) does not have an
interest materially adverse to the interest of the estate or of
any class of creditors or equity security holders, by reason of
any direct or indirect relationship to, connection with, or
interest in, the Debtors, or for any other reason.

Gellert Scali can be reached at:

     Michael Busenkell, Esq.
     GELLERT SCALI BUSENKELL & BROWN, LLC
     1201 N. Orange Street, Suite 300
     Wilmington, DE 19801
     Tel: (302) 425-5800

                 About Short Bark Industries, Inc.

Short Bark Industries, Inc. -- http://www.shortbark.com/--
provides military apparels for the Department of Defense, law
enforcement industry. The company's manufactured items in the
military category include military MOLLE, medium and large
rucksacks, assault packs, IWCS, ACU, ABU, BDU, helmet covers,
FROG, A2CU and more. It offers men and boys suits, over garments,
bag, and coats. The company holds over 120,000+ square feet of
manufacturing capacity with operations in Florida, Puerto Rico and
Tennessee.

Short Bark and EXO SBI, LLC, sought bankruptcy protection (Bankr.
D. Del., Lead Case No. 17-11502) on July 10, 2017. The petitions
were signed by Phil Williams, CEO and chairman.

The Debtors listed total assets of $10 million to $50 million and
total liabilities of $10 million to $50 million.

Bielli & Klauder, LLC serves as lead bankruptcy counsel to the
Debtors.  The Debtors hired SSG Advisors, LLC and Young America
Capital, LLC as investment banker.

On July 18, 2017, the Office of the U.S. Trustee appointed an
official committee of unsecured creditors.  The Committee hired
Lowenstein Sandler LLP, as counsel, Gellert Scali Busenkell &
Brown, LLC, as Delaware counsel, and Teneo Restructuring and Teneo
Capital LLC, as investment banker.


SHORT BARK: Creditors' Panel Hires Teneo as Financial Advisor
-------------------------------------------------------------
The Official Committee of Unsecured Creditors of Short Bark
Industries, Inc., et al., seeks authorization from the U.S.
Bankruptcy Court for the District of Delaware to retain Teneo
Restructuring and Teneo Capital LLC, as investment banker and
financial advisor to the Committee.

The Committee requires Teneo to:

   a. review and analyze the Debtors' business, operations,
      assets, financial condition, business plan, strategy, and
      operating forecasts;

   b. evaluate the Debtors' strategic and financial alternatives;

   c. advise and attend meetings of the Committee as well as
      meetings with the Debtors or other third parties as
      appropriate in connection with the matters set forth
      herein;

   d. advise and assist the Committee in evaluating the financial
      aspects of any potential DIP loans or other financing by
      the Debtors;

   e. review any valuation of the Debtors or its assets;

   f. review and analyze any proposed capital structure for the
      Debtors;

   g. analyze any proposed financings;

   h. assist the Committee in developing, evaluating, structuring
      and negotiate the terms and conditions of a restructuring,
      plan of reorganization, or sale transaction;

   i. analyze any merger, divestiture, joint-venture, or
      investment transaction, including the proposed structure
      and form thereof;

   j. analyze any new debt or equity capital, including advice on
      the nature and terms of new securities;

   k. assist the Committee or participate in negotiations with
      the Debtor and other creditor groups; and

   l. provide the Committee with other appropriate general
      restructuring advice as the Committee and its counsel deems
      appropriate.

Teneo will be paid at these hourly rates:

   a) Compensation: During the term of this agreement, Teneo
      shall be paid a fee of $35,000 per month.

   b) Success Fee: Provided that the general unsecured creditors
      are paid in full, Teneo shall be paid a Success Fee of
      $200,000.

   c) Expense Reimbursement: Teneo shall be entitled to monthly
      reimbursement of documented out-of-pocket expenses incurred
      in connection with the services to be provided in the
      bankruptcy case.

Christopher K. Wu, president of Teneo Restructuring and Teneo
Capital LLC, assured the Court that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the
Bankruptcy Code and (a) is not creditors, equity security holders
or insiders of the Debtors; (b) has not been, within two years
before the date of the filing of the Debtors' chapter 11 petition,
directors, officers or employees of the Debtors; and (c) does not
have an interest materially adverse to the interest of the estate
or of any class of creditors or equity security holders, by reason
of any direct or indirect relationship to, connection with, or
interest in, the Debtors, or for any other reason.

Teneo can be reached at:

     Christopher K. Wu
     TENEO RESTRUCTURING AND TENEO CAPITAL LLC
     280 Park Avenue, 4th Floor
     New York, NY 10022
     Tel: (212) 886 1600
     Fax: (212) 886 9399
     E-mail: Info@TeneoHoldings.com

                 About Short Bark Industries, Inc.

Short Bark Industries, Inc. -- http://www.shortbark.com/--
provides military apparels for the Department of Defense, law
enforcement industry. The company's manufactured items in the
military category include military MOLLE, medium and large
rucksacks, assault packs, IWCS, ACU, ABU, BDU, helmet covers,
FROG, A2CU and more. It offers men and boys suits, over garments,
bag, and coats. The company holds over 120,000+ square feet of
manufacturing capacity with operations in Florida, Puerto Rico and
Tennessee.

Short Bark and EXO SBI, LLC, sought bankruptcy protection (Bankr.
D. Del., Lead Case No. 17-11502) on July 10, 2017. The petitions
were signed by Phil Williams, CEO and chairman.

The Debtors listed total assets of $10 million to $50 million and
total liabilities of $10 million to $50 million.

Bielli & Klauder, LLC serves as lead bankruptcy counsel to the
Debtors.  The Debtors hired SSG Advisors, LLC and Young America
Capital, LLC as investment banker.

On July 18, 2017, the Office of the U.S. Trustee appointed an
official committee of unsecured creditors.  The Committee hired
Lowenstein Sandler LLP, as counsel, Gellert Scali Busenkell &
Brown, LLC, as Delaware counsel, and Teneo Restructuring and Teneo
Capital LLC, as investment banker.


SHORT BARK: Hires Bielli & Klauder as Counsel
---------------------------------------------
Short Bark Industries, Inc., et al., seek authority from the U.S.
Bankruptcy Court for the District of Delaware to employ Bielli &
Klauder, LLC, as counsel to the Debtors.

Short Bark requires Bielli & Klauder to:

   a. provide the Debtors legal advice with respect to their
      powers and duties as debtors in possession in the continued
      operation of their business and management of their
      properties;

   b. assist in taking all necessary action to protect and
      preserve the Debtors' estates, including the prosecution of
      actions on the behalf of Debtors, the defense of any
      actions commenced against the Debtors, the negotiation of
      disputes in which the Debtors are involved, and the
      preparation of objections to claims filed against the
      Debtors' estates;

   c. prepare or assist in preparing of the Debtors all necessary
      schedules, statements, applications, answers, orders,
      reports, motions and notices in connection with the
      administration of the estates of the Debtors;

   d. prepare responses to applications, motions, other
      pleadings, notices, and other papers that may be filed and
      served in the bankruptcy Cases;

   e. appear before the Bankruptcy Court and such other courts as
      may be appropriate to represent the interests of the
      Debtors in matters that require representation and to
      represent and assist Debtors in negotiations with
      other parties in interests in the cases;

   f. advise the Debtors concerning actions they might take to
      collect and recovery property for the benefit of their
      estates;

   g. advise the Debtors concerning executory contracts and
      unexpired lease assumptions, assignments, and rejections;

   h. advise the Debtors in connection with the Debtors'
      contemplated sale of all or substantially all of their
      assets under section 363 of the Bankruptcy Code;

   i. advise the Debtors in formulating and preparing a chapter
      11 plan on behalf of the Debtors, the related disclosure
      statement, and any revisions, amendments relating to such
      documents, and all related materials, and advising and
      assist the Debtors in connection with the solicitation and
      confirmation processes; and

   j. perform all other necessary legal services for the Debtors
      which may be necessary in the Bankruptcy Cases.

Bielli & Klauder will be paid at these hourly rates:

   David M. Klauder, Member                $350
   Thomas Bielli, Member                   $350
   Nella Bloom, Of Counsel                 $325
   Cory P. Stephenson, Associate)          $205

Bielli & Klauder was retained by the Debtors on July 5, 2017.  At
that time, Unequal, Inc., on behalf of the Debtors, paid Bielli &
Klauder a $50,000 retainer to secure the payment of professional
fees, and case expenses to Bielli & Klauder.

Prior to the Petition Date, the firm incurred professional fees
and case expenses, including filing fees, for the preparation of
the Chapter 11 Cases in the amount of $21,061.50. The firm drew
down from the retainer to pay these fees and expenses, leaving a
balance of $28,938.50.

Bielli & Klauder will also be reimbursed for reasonable
out-of-pocket expenses incurred.

David M. Klauder, a member of Bielli & Klauder, LLC, assured the
Court that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and (a) is not
creditors, equity security holders or insiders of the Debtors; (b)
has not been, within two years before the date of the filing of
the Debtors' chapter 11 petition, directors, officers or employees
of the Debtors; and (c) does not have an interest materially
adverse to the interest of the estate or of any class of creditors
or equity security holders, by reason of any direct or indirect
relationship to, connection with, or interest in, the Debtors, or
for any other reason.

Bielli & Klauder can be reached at:

     David M. Klauder, Esq.
     BIELLI & KLAUDER, LLC
     1204 N. King Street
     Wilmington, DE 19801
     Tel: (302) 803-4600
     Fax: (302) 397-2557
     E-mail: cstephenson@bk-legal.com

                 About Short Bark Industries, Inc.

Short Bark Industries, Inc. -- http://www.shortbark.com/--
provides military apparels for the Department of Defense, law
enforcement industry. The company's manufactured items in the
military category include military MOLLE, medium and large
rucksacks, assault packs, IWCS, ACU, ABU, BDU, helmet covers,
FROG, A2CU and more. It offers men and boys suits, over garments,
bag, and coats. The company holds over 120,000+ square feet of
manufacturing capacity with operations in Florida, Puerto Rico and
Tennessee.

Short Bark and EXO SBI, LLC, sought bankruptcy protection (Bankr.
D. Del., Lead Case No. 17-11502) on July 10, 2017. The petitions
were signed by Phil Williams, CEO and chairman.

The Debtors listed total assets of $10 million to $50 million and
total liabilities of $10 million to $50 million.

Bielli & Klauder, LLC serves as lead bankruptcy counsel to the
Debtors.  The Debtors hired SSG Advisors, LLC and Young America
Capital, LLC as investment banker.

On July 18, 2017, the Office of the U.S. Trustee appointed an
official committee of unsecured creditors.  The Committee hired
Lowenstein Sandler LLP, as counsel, Gellert Scali Busenkell &
Brown, LLC, as Delaware counsel, and Teneo Restructuring and Teneo
Capital LLC, as investment banker.


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


TRINIDAD  &  TOBAGO: TDC Retrenchments Will Destabilize Country
---------------------------------------------------------------
Reyad Hosein at Trinidad and Tobago Newsday reports that former
Minister of State in the Ministry of Finance, Rudranath
Indarsingh, said the retrenchment of over 100 workers from the
Tourism Development Company (TDC) will add to the growing list of
the unemployed and further destabilize the country.

In an interview with Newsday, Indarsingh said, "It is an
additional 114 families that will now be added to the 25,000
workers unemployed since the (Dr Keith) Rowley administration
assumed political office," according to Trinidad and Tobago
Newsday.

The report notes that the Couva South MP said the sending home of
the workers came at a particularly critical time when school is
going to re-open and parents have to buy books and uniforms for
their children.   He said government also continues to undermine
the principle of good industrial practices, the labor laws of T&T
and the Industrial Court, the report relays.

"At a time when the government has called upon labor and citizens
to make sacrifices, where are they getting money to hire senior
counsels to appeal the Industrial Court rulings?" he asked.

The report notes that Mr. Indarsingh said "Government has asked
labour to return to the table of national tripartite talks, but
one wonders how could labor trust a government that is behaving in
such a contentious, anti labor manner?  Further, they have failed
to grow and diversify the economy.  No one knows what these two
new entities are. Are these workers going to be reabsorbed?"

Labour Minister Jennifer Baptiste-Primus also got a scolding from
Indarsingh who said she has been silent since the closure of
Arcelor Mittal and Centrin, the report notes.  He said a proposed
national employment registry by Baptiste-Primus to deal with
retrenched workers, the report adds.


=================
V E N E Z U E L A
=================


PETROLEOS DE VENEZUELA: Tanker Untouched, Banks Wary to Issue LOC
-----------------------------------------------------------------
RJR News reports that an oil tanker carrying about a million
barrels of Venezuelan crude oil has been sitting near the
Louisiana coast for a month now, awaiting a letter of credit to
start unloading.

RJR News, citing Reuters, notes that the tanker, chartered by
Trafigura, carries crude for PBF Energy and the buyer has been
trying for weeks to find a bank willing to issue a letter of
credit -- which ensures that the amount due for the crude will be
paid within 30 days of delivery.

Only after a bank issues such a letter of credit to the benefit of
the seller can offloading begin, according to RJR News.

However, the problem is that the seller is PDVSA and banks are
wary of doing business with the Venezuelan state oil company amid
a sanction drive in Washington and the rapid turning of Caracas
into a pariah regime, the report relays.

As reported on Troubled Company Reporter-Latin America on July 13,
2017, S&P Global Ratings lowered its long-term foreign and local
currency sovereign credit ratings on the Bolivarian Republic of
Venezuela to 'CCC-' from 'CCC'. The outlook on the long-term
ratings is negative. S&P said, "We affirmed our 'C' short-term
foreign and local currency sovereign ratings. In addition, we
lowered our transfer and convertibility assessment on the
sovereign to 'CCC-' from 'CCC'."


                            ***********


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


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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, 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 Joseph Cardillo at
856-381-8268.


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