UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
---------------------------
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a)
AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a)
(Amendment No. 1)
INSIGNIA FINANCIAL GROUP, INC.
(f/k/a INSIGNIA/ESG HOLDINGS, INC.)
-----------------------------------
(Name of Issuer)
Common Stock, par value $.01 per share
--------------------------------------
(Title of Class of Securities)
45767A 10 5 (Common Stock)
--------------------------------------
(CUSIP Number)
Andrew L. Farkas
Insignia Financial Group, Inc.
375 Park Avenue
New York, New York 10152
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of PERSONS Authorized to Receive Notices
and Communications)
December 1, 1998
-------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing persons has previously filed a statement on Schedule
13G to report the acquisition that is the subject of this Schedule 13D,
and is filing this schedule because of Rule 13d-1(e), 13(d)-1(f) or 13(d)-
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 Rule
13d-7(b) for other parties to whom copies are to be sent.
(Continued on following pages)
<PAGE>
SCHEDULE 13D
CUSIP No. 45767A 10 5
- ---------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
MV, Inc.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(Intentionally Omitted)
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not applicable
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES None
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 251,757
REPORTING --------------------------------------------------------------
PERSONS 9 SOLE DISPOSITIVE POWER
WITH None
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
251,757
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSONS
251,757
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 45767A 10 5
- ---------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
Andrew L. Farkas
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(Intentionally Omitted)
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not applicable
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 146,661
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 1,620,984
REPORTING --------------------------------------------------------------
PERSONS 9 SOLE DISPOSITIVE POWER
WITH 146,661
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,620,984
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSONS
1,767,645
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.3%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 45767A 10 5
- ---------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
Metro Shelter Directives, Inc.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(Intentionally Omitted)
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [x ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not applicable
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES None
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 1,333,979
REPORTING --------------------------------------------------------------
PERSONS 9 SOLE DISPOSITIVE POWER
WITH None
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,133,979
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSONS
1,133,979
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.3%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 45767A 10 5
- ---------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
R.A.F. Resources
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(Intentionally Omitted)
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not applicable
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES None
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 235,004
REPORTING --------------------------------------------------------------
PERSONS 9 SOLE DISPOSITIVE POWER
WITH None
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
235,004
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSONS
235,004
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.1%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 45767A 10 5
- ---------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
F III, Inc.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(Intentionally Omitted)
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not applicable
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES None
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 244
REPORTING --------------------------------------------------------------
PERSONS 9 SOLE DISPOSITIVE POWER
WITH None
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
244
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSONS
244
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
less than 1%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 45767A 10 5
- ---------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
Metropolitan Asset Group, Ltd.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(Intentionally Omitted)
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [x ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not applicable
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES None
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 1,133,979
REPORTING --------------------------------------------------------------
PERSONS 9 SOLE DISPOSITIVE POWER
WITH None
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,133,979
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSONS
1,133,979
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.3%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 45767A 10 5
- ---------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
Robin L. Farkas
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(Intentionally Omitted)
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not applicable
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 51,130
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 235,004
REPORTING --------------------------------------------------------------
PERSONS 9 SOLE DISPOSITIVE POWER
WITH 51,130
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
235,004
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSONS
286,134
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.4%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 45767A 10 5
- ---------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
Metropolitan Acquisition Partners IV, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(Intentionally Omitted)
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not applicable
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES none
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH none
REPORTING --------------------------------------------------------------
PERSONS 9 SOLE DISPOSITIVE POWER
WITH none
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
none
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSONS
none
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
none
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 45767A 10 5
- ---------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
Metropolitan Acquisition Partners V, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(Intentionally Omitted)
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not applicable
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES none
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH none
REPORTING --------------------------------------------------------------
PERSONS 9 SOLE DISPOSITIVE POWER
WITH none
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
none
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSONS
none
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
none
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
<PAGE>
Amendment No. 1
to
Statement on Schedule 13D
Pursuant to Rule 13d-1
under the
Securities Exchange Act of 1934, As Amended
The undersigned hereby amend Items 1 though 5 of the Statement on Schedule
13D filed on their behalf for the event, dated December 1, 1998, with the
Securities and Exchange Commission. Unless otherwise indicated, capitalized
terms used herein and not otherwise defined shall have the meaning ascribed to
them in such previously filed Statement on Schedule 13D.
Item 1. Security and Issuer.
Item 1 is amended in its entirety by replacing the first paragraph with the
following:
This Statement on Schedule 13D relates to the common stock, par value $0.01
per share (the "Common Stock"), of Insignia Financial Group, Inc. (f/k/a
Insignia/ESG Holdings, Inc.). Effective October 30, 1998, Insignia/ESG Holdings,
Inc. changed its name to Insignia Financial Group, Inc. (the "Issuer"). The
address of the principal executive offices of the Issuer is: 200 Park Avenue,
New York, NY 10166.
Item 2. Identity and Background.
Item 2 is amended by deleting paragraphs (a), (c) and (g) and the last
paragraph. Paragraph (g) should be replaced with the following:
g. Metropolitan Asset Group, Ltd. Metropolitan Asset Group, Ltd.
("MAG") is a corporation organized under the laws of the State of New York. MAG
is the sole stockholder of MSD. MAG is owned by AF. The principal business of
MAG is investment banking. The address of each of the principal business and the
principal office of MAG is 113 Spring Street, New York, NY 10012.
The last paragraph should be replaced with the following:
AF, RF, MSD, MV, MAG, the Related Limited Partnership and F III are
collectively referred to herein as the "Reporting Persons." The Report Persons
constitute a "group" for purposes of Section 13(d)(3) of the Securities Exchange
Act of 1934, as amended. None of the Reporting Persons have been convicted in a
criminal proceeding (excluding traffic violations or similar misdemeanors)
during the past five years. None of the Reporting Persons was a party to a civil
proceeding of a judicial or administrative body of competent jurisdiction, the
result of which was or is subject to a judgment, decree or final order enjoining
future violations of, or prohibiting or mandating activities subject to, federal
or state securities laws or finding any violation with respect to such laws
during the past five years.
<PAGE>
Item 3. Source and Amount of Funds or Other Consideration.
Item 3 is amended in its entirety by replacing the first paragraph with the
following:
Effective December 1, 1998, each of Metropolitan Acquisition Partners IV,
L.P. ("MAP IV") and Metropolitan Acquisition Partners V, L.P. ("MAP V")
distributed a total of 1,712,866 shares of Common Stock (the "Distribution") to
the respective partners of each of MAP IV and MAP V. No consideration was paid
for the Distribution by the partners. As a result of the Distribution, MAP IV
and MAP V no longer own shares of Common Stock, and therefore, no longer have a
reporting requirement under Section 13(d) of the Securities Exchange Act of
1934, as amended.
Item 4. Purpose of Transaction.
Item 4 is amended by adding the following after the first paragraph:
The purpose of the Distribution by MAP IV and MAP V was to provide
liquidity to the respective partners of each of MAP IV and MAP V.
Item 5. Interest in Securities of the Issuer
Item 5 is amended by replacing the existing information with the following:
As of December 1, 1998, the Reporting Persons beneficially held interests
in the Common Stock as follows:
<TABLE>
<CAPTION>
Beneficial Ownership Voting Power Dispositive Power
------------------------ -------------------- --------------------
% of
Reporting Persons Shares Outstanding Sole Shared Sole Shared
- ---------------- ------ ----------- ---- ------ ---- ------
<S> <C> <C> <C> <C> <C> <C>
Metro Shelter Directives, Inc. 1,133,979 5.3% -- 1,133,979 -- 1,133,979
Metropolitan Asset Group, 1,133,979 5.3% -- 1,133,979 -- 1,133,979
Ltd.
R.A.F. Resources 235,004 1.1% -- 235,004 -- 235,004
MV, Inc. 251,757 1.2% -- 251,757 -- 251,757
F III, Inc. 244 * -- 244 -- 244
Robin L. Farkas 292,801 1.4% 51,130 235,004 51,130 235,004
Andrew L. Farkas 1,767,645 8.3% 146,661 1,620,984 146,661 1,620,984
- --------------
*Less than 1%
</TABLE>
MSD's beneficial ownership of Common Stock includes its direct ownership of
1,133,979 shares, of which 539,088 were received in the Distribution by MAP IV.
MSD's shared voting and dispositive power results from its relationship with AF
and MAG.
<PAGE>
MAG's beneficial ownership of Common Stock includes 1,133,979 shares
directly owned by MSD. MAG's shared voting and dispositive power results from
its relationship as the sole stockholder of MSD and its relationship with AF.
The Related Limited Partnership's ownership of Common Stock includes its
direct ownership of 235,004 shares, of which 117,502 were received in the
Distribution by MAP IV. The Related Limited Partnership's shared voting and
dispositive power results from its relationship with AF and RF.
MV's beneficial ownership of Common Stock includes its direct ownership of
251,757 shares, of which 121,319 were received in the Distribution by MAP V.
MV's shared voting and dispositive power results from its relationship with AF.
F III's beneficial ownership of Common Stock includes its direct ownership
of 244 shares, of which 122 shares were received in the Distribution by MAP IV.
F III's shared voting and dispositive power results from its relationship with
AF.
RF's beneficial ownership of Common Stock includes (i) 51,130 shares
directly owned RF and (ii) all of the shares owned by the Related Limited
Partnership. RF disclaims beneficial ownership of the 6,667 shares owned by his
wife. RF's shared dispositive power with respect to the shares owned by the
Related Limited Partnership results from his status as a general partner of the
Related Limited Partnership.
AF's beneficial ownership of Common Stock includes (i) 146,661 shares
directly owned by AF, (ii) 1,133,979 shares directly owned by MSD, (iii) all of
the 235,004 shares directly owned by the Related Limited Partnership, (iv)
251,757 shares directly owned by MV, and (v) 244 shares directly owned by F III.
AF's shared voting and dispositive power results from his relationships as the
sole stockholder of MAG, MV and F III, and as a general partner of the Related
Limited Partnership.
Acquisitions and Dispositions Since the Last Filing on Schedule 13D
- -------------------------------------------------------------------
In the Distribution, MAP IV distributed 587,526 shares to its limited
partners and 587,526 shares to MSD. Of the 587,526 shares distributed to the
limited partners, 117,504 shares were distributed to the Related Limited
partnership and 122 shares were distributed to F III.
In the Distribution, MAP V distributed 413,703 shares to its limited
partners and 124,111 shares to MV.
Of the 587,526 shares distributed to MSD, MSD distributed 35,220 shares to
each to Mr. Jeffrey Goldberg and 4,406 shares to each of Messrs. James Aston,
Frank Garrison and Ronald Uretta pursuant to agreements that AF had with each of
these individuals.
Of the 124,111 shares distributed to MV, MV distributed 930 shares to each
of Messrs. James Aston, Frank Garrison and Ronald Uretta pursuant to agreements
that AF had with each of these individuals.
Other than as set forth above, the Reporting Persons did not have any
transactions in the Common Stock since the most recent filing on Schedule 13D.
<PAGE>
SIGNATURES
After reasonable inquiry and to the best knowledge and belief of the
undersigned, the information set forth in this statement is true, complete, and
correct.
Dated: December 17, 1998
Metropolitan Acquisition Partners V, L.P.
By: MV, Inc., the General Partner
By: /s/ Andrew L. Farkas
-------------------------------
Andrew L. Farkas
President
MV, Inc.
By: /s/ Andrew L. Farkas
-------------------------------
Andrew L. Farkas
President
/s/ Andrew L. Farkas
-----------------------------------
Andrew L. Farkas
Metropolitan Acquisition Partners IV, L.P.
By: Metro Shelter Directives, Inc.,
the General Partner
By: /s/ Andrew L. Farkas
-------------------------------
Andrew L. Farkas
President
Metro Shelter Directives, Inc.
By: /s/ Andrew L. Farkas
-------------------------------
Andrew L. Farkas
President
<PAGE>
By: /s/ Robin L. Farkas
-------------------------------
Robin L. Farkas
F III, Inc.
By: /s/ Andrew L. Farkas
-------------------------------
Andrew L. Farkas
President
R.A.F. Resources
By: /s/ Andrew L. Farkas
-------------------------------
General Partner
Metropolitan Asset Group, Ltd.
By: /s/ Andrew L. Farkas
-------------------------------
Andrew L. Farkas
President
<PAGE>
