Document
United States
Securities and Exchange Commission
Washington, D.C. 20549
Schedule 13D
Under the Securities Act of 1934
Amendment No.: *
Name of Issuer: MFC Bancorp Limited
Title of Class Securities: Common Stock
Cusip Number: 55271X103
(Name, Address and Telephone Number of Person Authorized To
Receive Notices and Communications)
Sven B. Karlen, Jr., Grandview Partners, L.P., Two International
Place, 24th Floor, Boston, MA 02110 (617)856-8877
(Date of Event which requires Filing of this Statement)
September 24, 1997
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 Rule 13d-1(b)
(3) or (4), check the following box [ ].
Note: Six copies of this statement, including all exhibits, should
be filed with the Commission. See rule 13d-1 (a) for other parties
to whom copies are 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 the 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 and 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).
Cusip No. 552-71X-103
1. Name of Reporting Person
I.R.S. Identification No. of Above Person
Sven B. Karlen, Jr.
2. Check the Appropriate Box if a Member of a Group
a.
b.
3. SEC Use Only
4. Source of Funds
WC
5. Check if Disclosure of Legal Proceedings is Required Pursuant
To Items 2 (d) or 2 (e)
6. Citizenship or Place of Operation
USA
Number of Shares Beneficially Owned by Each Reporting Person with:
7. Sole Voting Power:
748,000
8. Shared Voting Power:
9. Sole Dispositive Power:
748,000
10. Shared Dispositive Power:
11. Aggregate Amount Beneficially Owned by Each Reporting Person
748,000
12. Check Box if the Aggregate Amount in Row (11) Excludes Certain
Shares
13. Percent of Class Represented by Amount in Row (11)
6.07%
14. Type of Reporting Person
IN
Item 1. Security and Issuer
This statement relates to shares of common stock (the "Common
Stock") of MFC Bancorp Ltd. (MFC). MFC's principal executive
office is located at 13 Route de Florissant, 7th Floor, 1206 Geneva
12, Switzerland.
Item 2. Identity and Background
This statement is being filed by Sven B. Karlen Jr.,
Grandview Partners, L.P. and Svenvest Partners L.P. Their address
is Two International Place, 24th Floor, Boston, Massachusetts,
02110. Mr. Karlen is the sole general partner of Grandview
Partners, L.P., and is the sole managing general partner of
Svenvest Partners, L.P.
Sven B. Karlen Jr. has not, during the last five years, been
convicted in a criminal proceeding.
Sven B. Karlen Jr. has not, during the last five years, been
a party to a civil proceeding of a judicial or administrative body
of competent jurisdiction which resulted in a judgment, decree or
final order enjoying future violations of, or prohibiting or
mandating activities subject to, federal or state securities laws
or finding any violations with respect to such laws.
Sven B. Karlen Jr. is a citizen of the United States of
America.
Item 3. Source and Amount of Funds or Other Consideration
As of the date here of, Sven B. Karlen Jr. beneficially owns
748,000 shares of MFC's Common Stock. All 748,000 shares are held
by managed accounts over which Mr. Karlen has investment
discretion. The 748,000 shares were purchased in open market
transactions at an aggregate cost of $5,283,164. The funds for
the purchase of the Common Stock held in separate accounts or
partnership accounts over which Mr. Karlen has investment
discretion have come from each account's or each partnership's own
funds. Certain of the shares beneficially owned by Mr. Karlen are
held in commingled margin accounts maintained with Montgomery
Securities, Auerbach, Pollak and Richardson, Inc. and Spear, Leeds
& Kellogg, which from time to time have debit balances. Because
other securities are held in such accounts it is impracticable to
determine the amount borrowed, if any, with respect to the shares
of Common Stock purchased.
Item 4. Purpose of Transaction
The shares of Common Stock beneficially owned by Sven B.
Karlen Jr. were acquired for, and are being held for, investment
purposes.
Sven B. Karlen Jr. has no plan or proposal which relates to,
or would result in, any of the actions enumerated in item 4 of the
instructions to Schedule 13D.
Item 5. Interest in Securities of the Issuer
As of the date hereof, Sven B. Karlen Jr. is the beneficial
owner of 748,000 shares of MFC's common stock. As of August 29,
1997, there are currently believed to be 12,313,000 shares of
MFC's Common Stock outstanding. Therefore, Mr. Karlen
beneficially owns 6.07% of the outstanding shares of MFC's Common
Stock. Mr. Karlen has the sole power to vote, direct to vote,
dispose of or direct the disposition of all the shares of MFC
Common Stock that he currently beneficially owns.
Item 6. Contracts, Arrangements, Understandings or Relationships
with Respect to Securities of the Issuer
Sven B. Karlen Jr. has no contract, arrangement,
understanding or relationship with any person with respect to the
Common Stock of MFC.
Item 7. Material to be Filed as Exhibits
Attached hereto as Exhibit A is a description of the
transactions in the Common Stock of MFC that were effected by Sven
B. Karlen, Jr. during the past 60 days.
Signature
The undersigned, after reasonable inquiry and to the best of
his knowledge and belief, certifies that the information set forth
in this statement is true, complete and correct.
September 24, 1997
Date
/S/ Sven B. Karlen, Jr.
Signature
Exhibit A:
Daily Transactions
MFC-Common Stock
Trade Date Number of Shares Price Per Share Value
9/11/97 6,675 $8.10 $54,068
9/15/97 13,700 $8.25 $113,025
9/16/97 28,800 $8.81 $253,728
9/18/97 12,800 $9.75 $124,800
9/19/97 26,200 $10.65 $279,030
9/22/97 23,500 $10.84 $254,740
9/23/97 5,000 $10.55 $52,750
9/24/97 62,000 $10.91 $676,420
