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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 3 )*
LIBERTE INVESTORS INC.
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
530154-10-3
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(CUSIP Number)
WITH A COPY TO:
GERALD J. FORD MICHAEL M. BOONE
HUNTER'S GLEN/FORD, LTD. HAYNES AND BOONE, LLP
200 CRESCENT COURT, 901 MAIN STREET
SUITE 1350 SUITE 3100
DALLAS, TEXAS 75201 DALLAS, TEXAS 75202-3789
(214) 873-5131 (214) 651-5000
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
OCTOBER 24, 2000
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check
the following box. [ ]
Note: Schedules filed in paper format shall include a signed original and five
copies of the Schedule, including all exhibits. See Section 240.13d-7 for other
parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
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Page 2 of 7 Pages
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SCHEDULE 13D
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CUSIP No. - 530154-10-3
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (entities only)
Gerald J. Ford, individually and as the sole trustee and sole
grantor of Turtle Creek Revocable Trust
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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7 SOLE VOTING POWER 665,800
NUMBER OF
SHARES ----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER 8,002,439
OWNED BY
EACH ----------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER 665,800
PERSON
WITH ----------------------------------------------------
10 SHARED DISPOSITIVE POWER 8,002,439
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,668,239
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
42.79%
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14 TYPE OF REPORTING PERSON
IN
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Page 3 of 7 Pages
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SCHEDULE 13D
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CUSIP No. - 530154-10-3
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (entities only)
Jeremy B. Ford
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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7 SOLE VOTING POWER 596,500
NUMBER OF
SHARES ----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER 0
OWNED BY
EACH ----------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER 596,500
PERSON
WITH ----------------------------------------------------
10 SHARED DISPOSITIVE POWER 0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
596,500
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.9%
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14 TYPE OF REPORTING PERSON
IN
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Page 4 of 7 Pages
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This Amendment No. 3 to Schedule 13D is being filed by Gerald J. Ford, as an
individual and as sole trustee of the Turtle Creek Revocable Trust, Ford Diamond
Corporation, Hunter's Glen/Ford, Ltd. and Jeremy B. Ford to amend the Amendment
2 to Schedule 13D dated July 31, 2000 filed by Gerald J. Ford, as an individual
and as sole trustee of the Turtle Creek Revocable Trust, Ford Diamond
Corporation, Hunter's Glen/Ford, Ltd. and Jeremy B. Ford (the "Amendment No.
2"): (i) to amend Items 4, 7, 9, 11 and 13 of Gerald J. Ford's cover page, (ii)
to amend Items 7, 9, 11 and 13 of Jeremy B. Ford's cover page and (iii) to amend
Items 3, 4, 5, and 7 to incorporate the effects of items (i) and (ii), the
acquisition by Jeremy B. Ford of 330,000 shares of Liberte Investors Inc. common
stock, and the acquisition by Gerald J. Ford, as sole trustee and sole grantor
of the Turtle Creek Revocable Trust, of 20,000 shares of Liberte Investors Inc.
common stock.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
Item 3 is hereby amended by adding the following:
The $60,600 purchase price of the shares purchased by Gerald J. Ford, as sole
trustee and sole grantor of the Turtle Creek Revocable Trust, represents cash
from the Turtle Creek Revocable Trust's funds.
The $958,650 purchase price of the shares purchased by Jeremy B. Ford
represents funds distributed to Jeremy B. Ford from a trust established for his
benefit.
ITEM 4. PURPOSE OF THE TRANSACTION
Item 4 is hereby amended by adding the following:
Gerald J. Ford, as sole trustee and sole grantor of the Turtle Creek
Revocable Trust, and Jeremy B. Ford acquired the shares of common stock for
investment purposes. Except as described herein, neither has any present plans
or intentions which would result in or relate to any of the transactions
described in subparagraphs (a) through (j) of Item 4 of Schedule 13D.
Gerald J. Ford, as sole trustee and sole grantor of the Turtle Creek
Revocable Trust, and Jeremy B. Ford reserve the right to acquire additional
securities of Liberte Investors Inc., to dispose of such securities at any time,
or to formulate other purposes, plans or proposals regarding Liberte Investors
Inc. or any of its securities, to the extent deemed advisable in light of their
general investment policies, market conditions or other factors.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
Item 5 is hereby amended as follows:
(a) and (b).
Gerald J. Ford, as sole trustee and sole grantor of the Turtle Creek
Revocable Trust, is the record owner of 665,800 shares of Liberte Investors Inc.
common stock, which represents
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Page 5 of 7 Pages
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approximately 3.3% of Liberte Investors Inc.'s outstanding common stock. As sole
trustee and sole grantor of the Turtle Creek Revocable Trust, Gerald J. Ford has
sole voting and dispositive power over these shares.
Jeremy B. Ford is the record and beneficial owner of 596,500 shares of
Liberte Investors Inc. common stock, which represents approximately 2.9% of
Liberte Investors Inc.'s outstanding common stock, and is deemed to have sole
power to vote, or direct the vote of, and to dispose, or direct the disposition
of, these 596,500 shares of Liberte Investors Inc. common stock.
(c) The following table details the transactions in shares of common stock of
Liberte Investors Inc. by the Reporting Persons in the past 60 days.
<TABLE>
<CAPTION>
Date Transaction Quantity Price
---- ----------- -------- -----
<S> <C> <C> <C>
October 12, 2000 Open Market Purchase by Gerald J. Ford, 20,000 $3.00/share
as sole trustee and sole grantor of the
Turtle Creek Revocable Trust
October 24, 2000 Open Market Purchase by Jeremy B. Ford 330,000 $2.875/share
</TABLE>
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Exhibit F: Joint filing Agreement dated November 8, 2000, among Gerald
J. Ford, as an individual and as sole trustee of the Turtle
Creek Revocable Trust, Ford Diamond Corporation, Hunter's
Glen/Ford, Ltd. and Jeremy B. Ford.
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Page 6 of 7 Pages
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SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge
and belief, each of the undersigned certifies that the information set forth in
this statement is true, complete and correct.
November 8, 2000
/s/ GERALD J. FORD
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Gerald J. Ford, as an individual and as sole trustee of the
Turtle Creek Revocable Trust
November 8, 2000 FORD DIAMOND CORPORATION, a Texas corporation
By: /s/ GERALD J. FORD
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Name: Gerald J. Ford
Title: President
November 8, 2000 HUNTER'S GLEN/FORD, LTD, a Texas limited
partnership
By: /s/ GERALD J. FORD
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Name: Gerald J. Ford
Title: President
November 8, 2000
/s/ JEREMY B. FORD
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Jeremy B. Ford
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Page 7 of 7 Pages
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EXHIBIT F
Agreement Pursuant to Rule 13d-1(k) filed herewith
Pursuant to Rule 13d-1(k) promulgated under the Securities Exchange
Act of 1934, as amended, the undersigned agree that the statement to which this
Exhibit is attached is filed on behalf of each of them in the capacities set
forth below.
November 8, 2000
/s/ GERALD J. FORD
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Gerald J. Ford, as an individual and as sole trustee of the
Turtle Creek Revocable Trust
November 8, 2000 FORD DIAMOND CORPORATION, a Texas corporation
By: /s/ GERALD J. FORD
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Name: Gerald J. Ford
Title: President
November 8, 2000 HUNTER'S GLEN/FORD, LTD, a Texas limited
partnership
By: /s/ GERALD J. FORD
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Name: Gerald J. Ford
Title: President
November 8, 2000
/s/ JEREMY B. FORD
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Jeremy B. Ford
