---

       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

          Thursday, August 29, 2019, Vol. 20, No. 173

                           Headlines



C O L O M B I A

AVIANCA HOLDINGS: "Bankrupt" Flub Video Sends Shares to Record Low


D O M I N I C A N   R E P U B L I C

DOMINICAN REPUBLIC: Could Face a Hurricane by Today


E C U A D O R

GUAYAQUIL MERCHANT: Fitch Affirms BB- Rating on $175MM Notes


J A M A I C A

JAMAICA: Decline in Alumina Production Not Expected, PIOJ Says
JAMAICA: Workers' Pension Scheme to Allow Flexible Contribution


P U E R T O   R I C O

ASCENA RETAIL: Lenders Said to Raise Bankruptcy Concerns
LUBY'S INC: Adds Two New Independent Board Members
MARINE ENVIRONMENTAL: $2.45M Sale of Two Vessels to Offshore Ok


V E N E Z U E L A

PETROLEOS DE VENEZUELA: Venezuelan Reserves Jump on Cash Transfer


X X X X X X X X

LATAM: Slightly Weakened Storm Still Affecting Parts of the Region

                           - - - - -


===============
C O L O M B I A
===============

AVIANCA HOLDINGS: "Bankrupt" Flub Video Sends Shares to Record Low
------------------------------------------------------------------
Ezra Fieser at Bloomberg News reports that Avianca Holdings SA
plunged to a record low after the Colombia-based airline's chairman
was seen in a leaked internal video telling employees that the
company is "bankrupt."

The stock dropped as much as 15% in Bogota trading before paring
losses, according to Bloomberg News.

Kriete was trying to reiterate to employees the urgency of getting
back to profitability, said Carlos Enrique Rodriguez, head of
equity research at Bogota-based brokerage Ultraserfinco, Bloomberg
News notes.  Instead, his comments wiped out more than $40 million
of market capitalization, as the video surfaced on social media
after markets closed Aug. 26, Bloomberg News relates.

Bloomberg News discloses that the company quickly tried to qualify
the statement, taken from a video in which Chairman Roberto Kriete
is seated aside Chief Executive Officer Anko van der Werff at a
company meeting, saying his message was taken out of context.

Kriete "used the colloquial term 'bankrupt'", though the company is
not in any bankruptcy or insolvency process, the airline said,
Bloomberg News says.

A new management team, led by Kriete, who took over as chairman in
May following a corporate shakeup, is attempting to turnaround the
money-losing airline by cutting unprofitable routes, selling some
assets and reducing debt, Bloomberg News adds.

As reported by Troubled Company Reporter on Aug. 9, 2019,  Avianca
Holdings S.A.'s working capital deficit was US$1,095.2 million at
December 31, 2018.  The deficit was US$640.0 million at December
31, 2017.

At December 31, 2018, the Company had total current assets of
US$1.1 billion and total current liabilities of US$2.2 billion. At
December 31, 2017, the Company had total current assets of US$1.3
billion and total current liabilities of US$1.9 billion.

On July 25, 2019, The Class Action Reporter reported that S&P
Global Ratings lowered its issuer credit rating on Avianca Holdings
S.A. to 'SD' from 'CCC+' and kept
the 'CCC' issue-level ratings on CreditWatch with negative
implications. Additionally, S&P lowered its issuer credit and
issue-level ratings on LifeMiles LTD to 'B-' from 'B'. The
downgrade follows Avianca's announcement that it missed the
payments on several long-term leases and on the principal on some
loan obligations, which constitutes an event of default.




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

DOMINICAN REPUBLIC: Could Face a Hurricane by Today
---------------------------------------------------
Dominican Today reports that the National Hurricane Center said the
fourth tropical storm of this year's Atlantic hurricane season will
strengthen as it progresses through the Lesser Antilles.

It said Tropical Storm Dorian could reach hurricane force by Aug.
27, as it moves through the eastern Caribbean, according to
Dominican Today.

The storm's center was around 692 kilometers (430 miles)
east-southeast of Barbados on Aug. 25, the report notes.

The storm's path places it in the Dominican Republic as a category
1 hurricane by late Aug. 29, the report adds.

Standard & Poor's credit rating for Dominican Republic stands at
BB- with stable outlook (2015). Moody's credit rating for
Dominican Republic was last set at Ba3 with stable outlook (2017).
Fitch's credit rating for Dominican Republic was last reported at
BB- with stable outlook (2016).



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

GUAYAQUIL MERCHANT: Fitch Affirms BB- Rating on $175MM Notes
------------------------------------------------------------
Fitch Ratings affirmed the the $175 million outstanding series
2019-1 notes issued by Guayaquil Merchant Voucher Receivables
Limited at 'BB-'. The Rating Outlook was revised to Stable from
Negative following the revision of Banco Guayaquil S.A.'s Outlook
on Aug. 26, 2019.  

The transaction is backed by future flows due from American
Express, Visa International Service Association and Mastercard
International Incorporated related to international merchant
vouchers acquired by BG in Ecuador. Fitch's ratings reflect timely
payment of interest and principal on a quarterly basis.

KEY RATING DRIVERS

Originator's Credit Quality: The rating of this future flow
transaction is tied to the credit quality of the originator, BG. On
Aug. 26, 2019, Fitch affirmed BG's Long-Term Issuer Default Rating
(IDR) at 'B-' and revised the Outlook to Stable from Negative
mirroring the revision of Ecuador's Outlook on Aug. 21, 2019. The
bank's ratings continue to be highly influenced by its operating
environment.

Going Concern Assessment Score: Fitch uses a going concern
assessment (GCA) score to gauge the likelihood that the originator
of a future flow transaction will stay in operation throughout the
transaction's life. Fitch assigned a GCA score of 'GC2' to BG based
on the bank's systemic importance. The score allows for a maximum
of four notches above the local currency IDR of the originator, but
additional factors limit the maximum uplift.

Notching Uplift from IDR: The 'GC2' allows for a maximum four
notch-rating uplift from the bank's Long-Term IDR pursuant to
Fitch's future flow methodology. However, the agency currently
limits the rating uplift for the future flow program to three
notches from BG's IDR due to factors including Ecuador's lack of
last resort lender and exposure to de-dollarization risk when it
comes to flow volumes. Fitch also reserves the maximum notching
uplift for originator's rated at the lower end of the rating
scale.

Potential Volatility of the Future Receivables: While international
AmEx, Mastercard and Visa acquiring flows benefit from BG's
longstanding credit card business, the transaction is exposed to a
potential drop in tourism caused by natural events, an economic
downturn and/or potential political or social unrest. Additionally,
the transaction includes ATM acquired vouchers, which could exhibit
more volatility or be subject to an ATM freeze.

However, flows still support a projected quarterly debt service
coverage ratio (DSCR) of more than 4.0x the maximum quarterly debt
service payment and 2.5x utilizing point-of-sale flows only, which
would remain in line with the assigned rating level. International
merchant voucher volumes have been relatively stable. Flow levels
observed from January 2019 to May 2019 are trending higher when
compared with the first five months of the past two years.

No Lender of Last Resort: Ecuador is a U.S. dollarized economy
without a true lender of last resort. While certain mechanisms are
in place to help fend off a banking system crisis, this weakness
limits the transaction rating.

De-Dollarization Risk: While the dollarization system anchors
macroeconomic stability, the risk of de-dollarization exists. It
would only occur in an extreme scenario but would be a major shock
to the Ecuadorean system.

Future Flow Debt Size: The future flow issuance is expected to
represent approximately 4.1% of BG's total liabilities and
approximately 27.2% of its non-deposit funding utilizing financials
as of June 2019. Fitch considers the ratio of future flow debt to
overall liabilities small enough to allow the financial future flow
ratings up to the maximum uplift indicated by the GCA score.

Reduced Redirection and Diversion Risk: The structure mitigates
certain sovereign risks by collecting cash flows offshore until
investors are paid. Fitch believes diversion risk is mitigated by
notice, consent and agreements (C&As) obligating AmEx, Visa and
Mastercard to remit payments to the collection accounts controlled
by the trustee.

RATING SENSITIVITIES

The transaction's ratings are sensitive to changes in the credit
quality of Banco Guayaquil S.A. The ratings are sensitive to
changes to the bank's IDR; the ability of the credit card acquiring
business line to continue operating, as reflected by the GCA score;
and changes in the sovereign environment and ratings assigned to
the Ecuadorian sovereign. Changes to Fitch's view of the bank's GCA
score could lead to a change in the transaction's rating.
Additionally, the merchant voucher programs could also be sensitive
to significant changes in the credit quality of AmEx, Visa or
Mastercard to a lesser extent.

The transaction's ratings are sensitive to the performance of the
securitized business line. The expected quarterly DSCR is
approximately 4.0x and should be able to withstand a significant
decline in cash flows in the absence of other issues. Fitch
performed sensitivity analysis on the strength of collections.
Severe reductions in coverage levels could result in rating
downgrades.



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

JAMAICA: Decline in Alumina Production Not Expected, PIOJ Says
--------------------------------------------------------------
RJR News reports that the Planning Institute of Jamaica (PIOJ),
says it does not expect a decline in alumina production in the near
term despite proposed cut backs in the sector.

Senior Director at the PIOJ James Stewart, says while the Institute
continues to monitor discussions, there is no sign of a production
slowdown, according to RJR News.

"There are some issues that are still under negotiations. No final
decision has been made yet as to the cutback. Alpart still records
increases each month, as we look at the data. So as of now, there
has been no decline, particularly for July to September," he said,
the report notes.

Concerning the move to install L-E-D streetlights across the
island, he said it has started to produce positive results, the
report relays.

"What we have observed is that sometime since late 2018, the JPSCo
had embarked on changing out these lights to the LED lights which
are more energy sufficient and that we suspect is one of the
reasons that has led to the reduced consumption of energy for
street lighting purposes," Mr. Stewart disclosed, the report adds.

As reported in the Troubled Company Reporter-Latin America on June
27, 2019, RJR News said that Steven Gooden, Chief Executive Officer
of NCB Capital Markets, is warning that the increasing liquidity in
the Jamaican economy might result in heightened risk to the
financial market if left unchecked.  This, he said, is against the
background of the local administration seeking to reduce the debt
to GDP to 60% by the end of the 2025/26 fiscal year, which will see
Government repaying more than J$600 billion which will get back
into the system, according to RJR News.

JAMAICA: Workers' Pension Scheme to Allow Flexible Contribution
---------------------------------------------------------------
RJR News reports that Tourism Minister Edmund Bartlett said the
Tourism Workers' Pension Scheme will allow for flexible
contributions through the use of individual retirement savings
accounts.

Mr. Bartlett explained that each tourism worker who joins the
scheme will have his or her own retirement savings account with
their contributions, employers' contributions and interest
accumulated, according to RJR News.

He added that the pension scheme will facilitate breaks in
contribution due to periods of unemployment or overseas employment,
the report notes.

Mr. Bartlett explained that being employed to a multi-national
company will not cause a break in contributions if the employee is
paid from the company's headquarters in Jamaica. However, the break
would come if the employee is paid from another jurisdiction, the
report notes.

The Tourism Workers' Pension Scheme is expected to come into effect
in 2020, the report adds.

As reported in the Troubled Company Reporter-Latin America on June
27, 2019, RJR News said that Steven Gooden, Chief Executive Officer
of NCB Capital Markets, is warning that the increasing liquidity in
the Jamaican economy might result in heightened risk to the
financial market if left unchecked.  This, he said, is against the
background of the local administration seeking to reduce the debt
to GDP to 60% by the end of the 2025/26 fiscal year, which will see
Government repaying more than J$600 billion which will get back
into the system, according to RJR News.



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

ASCENA RETAIL: Lenders Said to Raise Bankruptcy Concerns
--------------------------------------------------------
Ascena Retail Group, Inc., the Mahwah, New Jersey-based company
that owns women's retailers Ann Taylor, Loft, Lane Bryant and
Dressbarn, owes $1.4 billion to lenders and isn't returning their
phone calls, according to a New York Post report.

Ascena Retail Group hasn't missed debt payments, but more than 40
lenders are nervous that Ascena may be eyeing bankruptcy, the Post
reports, citing a source.

"It's been radio silence from Ascena and the lenders are just
spooked at this point," the source told the Post.

The Post recounts that last month, the lending group made up of
some 40 lenders, including Franklin Resources, Eaton Vance, Lord
Abbett, and Greywolf Capital, retained Milbank as legal counsel
because of all the uncertainty over what the retailer might do
next.

                      Wind Down of Dressbarn

Ascena in May 2019 announced that its Dressbarn unit, which employs
6,400 people, will wind down its retail operations and close all
650 stores.  All stores of the 57-year-old fashion chain are
expected to close by the end of 2019.  In July, Dressbarn commenced
store closing or inventory clearance event sales at 53 stores that
are slated for closure by the end of August.

Dressbarn in July said it has engaged Gordon Brothers Retail
Partners to assist with the eventual closure of all stores.  It
added that it has retained Hilco Streambank to solicit interest in
the intellectual property assets of Dressbarn, which include U.S.
and international trademarks, domain names, and other assets.

Dressbarn is negotiating with landlords on a termination of
unexpired leases by August or December.  If landlords balk, the
retailer will owe over $302 million in rent to landlords.
Dressbarn reportedly warned of a bankruptcy filing if less than 90%
of the landlords agree to relieve the retailer of its lease
obligations.

                      About Ascena Retail

Ascena Retail Group, Inc. (NASDAQ:ASNA), a Delaware corporation, is
a national specialty retailer of apparel for women and tween girls,
with annual revenue of $5.6 billion for fiscal 2018.  Ascena Retail
through its retail brands operates ecommerce websites and 3,500
stores throughout the United States, Canada and Puerto Rico.  Its
store chains cover premium fashion (Ann Taylor, LOFT, and Lou &
Grey), plus fashion (Lane Bryant, Catherines and Cacique), and
value fashion (Dressbarn) segments, and for tween girls under the
kids fashion segment (Justice).

Dressbarn offers an assortment of women's clothing for every day
and occasion.  Dressbarn was founded by Elliot S. Jaffe and Roslyn
S. Jaffe in 1962.  The single store in Stamford, Connecticut grew
to a nationwide chain of 650 stores.  In May 2019, Dressbarn said
that it will shutter all brick-and-mortar locations by the end of
2019.

Ascena reported a net loss of $303.5 million on $4.039 billion of
net sales for the 9 months ended May 4, 2019, compared with a net
loss of $72.9 million on $4.047 billion of net sales during the
same period in 2018.

Ascena's balance sheet at May 4, 2019, showed $3.239 billion in
total assets against $2.729 billion in liabilities.

LUBY'S INC: Adds Two New Independent Board Members
--------------------------------------------------
Luby's, Inc., has added John Morlock and Randolph Read, new
independent directors, to its Board of Directors.

In addition to two new directors, Gerald Bodzy assumed the role of
independent chairman of the Board of Directors, while former
chairman Gasper Mir will remain as an independent director on the
Board.  Dr. Judith Craven is retiring from the Board of Directors.

Gerald Bodzy, Luby's chairman of the Board, commented, "We are
pleased to welcome Mr. Morlock and Mr. Read to Luby's Board of
Directors.  Mr. Morlock is a veteran restaurant executive with
extensive operations and franchise experience.  Mr. Morlock will
join the Personnel and Administration Committee as well as the
Executive Compensation Committee.  Mr. Read has broad executive and
public board experience across multiple industries and will join
the Finance and Audit Committee.  We believe both of these talented
and experienced leaders will provide considerable value to our
Board of Directors."

John Morlock has served in C-suite and various leadership positions
for more than 30 years.  He is an accomplished results-oriented
leader with a proven track record of success.  Morlock's experience
includes three initial public offerings, two of which were
restaurant
franchises -- Boston Market and Potbelly Sandwich Works.

In addition, Morlock has led multiple companies through
turnarounds with enhanced culture shifts, while pushing
operational
excellence that realized meaningful growth.  Over the span of his
career, Morlock has worked in management and executive roles with
other branded franchises, including Einstein Bagel, Blockbuster,
Clubhouse International, Spin Cycle Inc, Sbarro Inc. and Hale and
Hearty Soups, LLC.

Mr. Read currently serves as president and CEO of Nevada Strategic
Credit Investments, LLC.  Previously he held the title of CEO or
president of several notable firms including International Capital
Markets Group, American Strategic Investments, Wynn Development
Co., Greenspun Corporation, and certain Knowledge Universe
entities.  Mr. Read currently serves as chairman of New York REIT
Liquidating LLC and Audit Committee chairman of SandRidge Energy,
Inc. and has previously served on several other company boards.
Throughout his career he has achieved record results for a variety
of operations, including record asset values, values on
disposition, revenues, profits, return on equity, and financings.

                         About Luby's

Houston, Texas- based Luby's, Inc. (NYSE: LUB) --
http://www.lubysinc.com/-- operated 125 restaurants nationally as
of Aug. 19, 2019: 79 Luby's Cafeterias, 45 Fuddruckers, and one
Cheeseburger in Paradise restaurant.  Luby's is the franchisor for
102 Fuddruckers franchise locations across the United States
(including Puerto Rico), Canada, Mexico, Colombia, and Panama.
Luby's Culinary Contract Services provides food service management
to 32 sites consisting of healthcare, corporate dining locations,
sports stadiums, and sales through retail grocery stores.

Luby's reported a net loss of $33.56 million for the year ended
Aug. 29, 2018, compared to a net loss of $23.26 million for the
year ended Aug. 30, 2017.  As of June 5, 2019, Luby's had $192.06
million in total assets, $81.91 million in total liabilities, and
$110.15 million in total shareholders' equity.

Grant Thornton LLP, in Houston, Texas, issued a "going concern"
qualification in its report on the consolidated financial
statements for the year ended Aug. 29, 2018, noting that the
Company sustained a net loss of approximately $33.6 million and net
cash used in operating activities of approximately $8.5 million.

The Company's term and revolving debt of approximately $39.5
million is due May 1, 2019.  The Company was in default of certain
debt covenants of its term and revolving credit agreements maturing
on May 1, 2019.  On Aug. 24, 2018, the lenders agreed to waive the
existing events of default resulting from any breach of certain
financial covenants or the limitation on maintenance capital
expenditures, in each case that may have occurred during the period
from and including May 9, 2018 until Aug. 24, 2018, and any related
events of default.  Additionally, the lenders agreed to waive the
requirements that the Company comply with certain financial
covenants until Dec. 31, 2018, at which time the Company will be in
default without an additional waiver or alternative financing.
These conditions, along with other matters, raise substantial doubt
about the Company's ability to continue as a going concern.

MARINE ENVIRONMENTAL: $2.45M Sale of Two Vessels to Offshore Ok
---------------------------------------------------------------
Judge Vincent F. Papalia of the U.S. Bankruptcy Court for the
District New Jersey authorized the private sale by Marine
Environmental Remediation Group, LLC and affiliate MER Group Puerto
Rico, LLC of the following two vessels: (i) Paragon MSS2 and (ii)
Seven Polaris to Offshore Equipment, LLC for $2.45 million, without
any further bidding or any auction being required.

The Debtors will escrow $1,221,000 corresponding to 55.5% of the
second installment payment of $2.2 million due under the terms of
the sale agreement to Offshore.

The sale of the Vessels is free and clear of all Interests, with
any such Interest, only as may have existed at the time of the
sale, to attach to the actual proceeds of the sale of the Vessel
received.

Notwithstanding the foregoing, the Debtors will have all rights,
options, protections, and privileges, including as against
Offshore, pursuant to the Sale Agreement and Amendment dated Aug.
20, 2019 and applicable law.

The Debtors will use reasonable, good faith efforts to obtain
insurance on the Vessels that the Debtors deem to be acceptable in
their business judgment for the period up to the closing of the
sale to Offshore.

The protections, remedies and rights of the Debtors pursuant to or
described in the Order will be cumulative.

The Debtors will file a budget detailing their proposed future
expenditures.

A case management conference will be held on Sept. 26, 2019 at
10:00 a.m.

The Motion of the Acting United States Trustee Under 11 U.S.C.
Section 1112(b) for an Order Converting Case to Chapter 7, or, in
the Alternative, Dismissing Case is adjourned to Sept. 26, 2019 at
10:00 a.m..

The Order is effective immediately upon entry, and any stay of its
effectiveness that might otherwise apply, including pursuant to
Federal Rules of Bankruptcy Procedure 6004(h) or 6006(d), will be
of no effect.

                  About Marine Environmental

MER Group -- http://www.mergroupllc.com-- provides ship recycling
services at facilities in the United States and Europe.  MER claims
to have pioneered an environmentally-sensitive process of
dismantling obsolete vessels that meets or exceeds all U.S. EPA,
OSHA, state and Commonwealth regulations.

Marine Environmental Remediation Group LLC and affiliate MER Group
Puerto Rico LLC filed voluntary petitions seeking relief under
Chapter 11 of the Bankruptcy Code (Bankr. D.N.J. Lead Case No.
19-18994) on May 1, 2019. In the petitions signed by Martin Vulaj,
CEO, the Debtors' estimated $1 million to $10 million in both
assets and liabilities.  The case is assigned to Judge Vincent F.
Papalia.  Jeffrey D. Vanacore, Esq., at Perkin Coie LLP, represents
the Debtors.



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

PETROLEOS DE VENEZUELA: Venezuelan Reserves Jump on Cash Transfer
-----------------------------------------------------------------
Patricia Laya at Bloomberg News reports that Venezuela's Central
Bank reported a $700 million increase in reserves coming from the
state oil company Petroleos de Venezuela, according to two people
with direct knowledge of the matter.

More than 80% of the money received by the central bank was in
Chinese yuan, two people said, according to Bloomberg News.  The
money is a result of months of delayed payments to PDVSA for crude
oil as both parties struggled to find a way to pay with existing
U.S. sanctions, one of the people said, Bloomberg News says.  The
jump recorded in official Central Bank data is the biggest for
Venezuela's international reserves since April of last year,
bringing reserves up to $8.8 billion, Bloomberg News notes.

PDVSA and central bank press officials didn't immediately respond
to requests for comment.

Reserves neared a three-decade low last month following months of
ongoing gold sales, Bloomberg News discloses.  While U.S. sanctions
have increasingly cut off Venezuela from the global financial
system, Nicolas Maduro's regime has been selling gold to firms in
places such as the United Arab Emirates and Turkey, Bloomberg News
adds.

As reported in Troubled Company Reporter-Latin America on June 3,
2019, Moody's Investors Service withdrew all the ratings of
Petroleos de Venezuela, S.A. including the senior unsecured and
senior secured ratings due to insufficient information. At the time
of withdrawal, the ratings were C and the outlook was stable.



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

LATAM: Slightly Weakened Storm Still Affecting Parts of the Region
------------------------------------------------------------------
Caribbean360.com reports that watches and warnings have been
discontinued for some islands but Tropical Storm Dorian is still
impacting parts of the Eastern Caribbean as it continues on a path
that will take it near Puerto Rico Aug. 28.

Heavy rains and gusty winds are still affecting the northern
Windward Islands and southern Leeward Islands, according to
Caribbean360.com.

In its advisory, the National Hurricane Centre (NHC) in Miami said
Tropical Storm Dorian was about 60 miles west northwest of St Lucia
and moving towards the west northwest at 13 miles per hour, the
report relays.

"This motion is expected to continue through tonight, followed by a
turn toward the northwest.   On the forecast track, the centre of
Dorian will move across the eastern and northeastern Caribbean Sea
during the next few days, passing near or south of Puerto Rico,
move near or over eastern Hispaniola, and move north of
Hispaniola.

"The centre of Dorian is forecast to move near the Turks and Caicos
and southeastern Bahamas," the NHC said, the report relays.

Although Dorian is a bit weaker, with maximum sustained winds down
to 50 miles per hour from 60 miles per hour, forecasters say slow
strengthening is expected during the next 48 hours, the report
notes.

"Dorian is forecast to be near hurricane strength when it moves
close to Puerto Rico and eastern Hispaniola," the NHC said, the
report discloses.

A tropical storm warning is in effect for Martinique, Puerto Rico
and portions of the Eastern Dominican Republic; while a tropical
storm watch remains in effect for Dominica and Saba and St.
Eustatius, the report adds.


                           *********


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 2019.  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.
.


                  * * * End of Transmission * * *