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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b),(c), AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(b)
Kasper A.S.L., Ltd.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $.01 per share
- --------------------------------------------------------------------------------
(Title of Class of Securities)
485808-10-9
------------------------------------
(CUSIP Number)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[X] Rule 13d-1(d)
*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 in 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).
SEC 1745 (2-95)
Page 1 of 5 pages
<PAGE>
13G
CUSIP No. 485808-10-9 Page 2 of 5 Pages
------------ --- ---
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Arthur S. Levine
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
N/A
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY 527,371
OWNED BY
EACH
REPORTING
PERSON
WITH 6 SHARED VOTING POWER
7 SOLE DISPOSITIVE POWER
527,371
8 SHARED DISPOSITIVE POWER
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
527,371
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[ ]
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
7.2%
12 TYPE OF REPORTING PERSON*
IN
*SEE INSTRUCTIONS BEFORE FILLING OUT!
SEC 1745 (2-95)
Page 2 of 5 pages
<PAGE>
13G
CUSIP No. 45808-10-9 Page 3 of 5 Pages
------------ --- ---
Item 1(a). Name of Issuer:
Kasper A.S.L., Ltd. (the "Company")
Item 1(b). Address of Issuer's Principal Executive Offices:
77 Metro Way
Secaucus, NJ 07094
Item 2(a). Name of Person Filing:
Arthur S. Levine
Item 2(b). Address of Principal Business Office or, if None, Residence:
c/o Kasper A.S.L., Ltd.
77 Metro Way
Secaucus, NJ 07094
Item 2(c). Citizenship:
United States
Item 2(d). Title of Class of Securities:
Common Stock, $.01 par value
Item 2(e). CUSIP Number:
485808-10-9
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or
13d-2(b), check whether the person filing is a:
Not Applicable
SEC 1745 (2-95)
Page 3 of 5 pages
<PAGE>
13G
CUSIP No. 485808-10-9 Page 4 of 5 Pages
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Item 4. Ownership. As of December 31, 1998:
(a) Amount beneficially owned: 527,371 shares of Common Stock.
Includes (i) 6,254 shares of Common Stock held for the benefit
of Mr. Levine as a creditor of the Company in connection with
the plan of reorganization of a predecessor company; (ii)
25,016 shares of Common Stock held by Alco Design Associates,
Inc., a company owned solely by Mr. Levine; and (iii) 496,101
shares of Common Stock issuable upon exercise of currently
exercisable options granted under the Company's 1997 Management
Stock Option Plan.
(b) Percent of class: 7.2%
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote: 527,371
(ii) Shared power to vote or direct the vote:
(iii) Sole power to dispose or direct the disposition of:
527,371
(iv) Shared power to dispose or direct the disposition of:
Item 5. Ownership of Five Percent or Less of a Class.
Not Applicable
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Not Applicable
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being reported on by the Parent Holding Company.
Not Applicable
Item 8. Identification and Classification of Members of the Group.
Not Applicable
Item 9. Notice of Dissolution of Group.
Not Applicable
SEC 1745 (2-95)
Page 4 of 5 pages
<PAGE>
13G
CUSIP No. 485808-10-9 Page 5 of 5 Pages
----------- --- ---
Item 10. Certification.
Not Applicable
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: February 9, 1999
/s/ Arthur S. Levine
--------------------------
Arthur S. Levine
SEC 1745 (2-95)
Page 5 of 5 pages
