SECURITIES & EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13D/A
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2(a)
(Amendment No. 3)*
Westmoreland Coal Company
(Name of Issuer)
Common Stock
(Title of Class of Securities)
960878106
(CUSIP Number)
Jeffrey L. Gendell
200 Park Avenue, Suite 3900, New York, New York 10166 (212) 692-3695
(Name, address and telephone number of person
authorized to receive notices and communications)
December 28, 2000
(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 Rule 13d-1(e), 13d-1(f) or 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 Rule 13d-7 for
other parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 10 Pages)
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*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 purposes 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).
<PAGE>
CUSIP No. 960878106 13D Page 2 of 10 Pages
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(1) NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS (ENTITIES ONLY)
Tontine Partners, L.P.
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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 **
WC
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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
Delaware
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NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
202,690
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
202,690
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(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
202,690
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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 **
PN
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 960878106 13D Page 3 of 10 Pages
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(1) NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS (ENTITIES ONLY)
Tontine Management, L.L.C.
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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 **
WC
-----------------------------------------------------------------------------
(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
Delaware
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NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
202,690
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
202,690
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(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
202,690
-----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
2.9%
-----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON **
OO
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 960878106 13D Page 4 of 10 Pages
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(1) NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS (ENTITIES ONLY)
Tontine Overseas Associates, L.L.C.
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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 **
WC
-----------------------------------------------------------------------------
(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
-0-
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
43,630
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
43,630
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(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
43,630
-----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
0.6%
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(14) TYPE OF REPORTING PERSON **
IA
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 960878106 13D Page 5 of 10 Pages
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(1) NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS.
OF ABOVE PERSONS (ENTITIES ONLY)
Jeffrey L. Gendell
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) SOURCE OF FUNDS **
WC
-----------------------------------------------------------------------------
(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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NUMBER OF (7) SOLE VOTING POWER
549,000
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
246,320
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
549,000
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
246,320
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(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
795,320
-----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
11.2%
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(14) TYPE OF REPORTING PERSON **
IN
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 960878106 13D Page 6 of 10 Pages
Item 1. Security and Issuer.
The Schedule 13D filed on March 26, 1999 by Jeffrey L. Gendell, as
amended by Amendment No. 1 filed on July 12, 2000(the "Schedule 13D"), as
further amended by Amendment No. 2 filed on September 25, 2000, relating to
the common stock, $2.50 par value (the "Common Stock") of Westmoreland Coal
Company (the "Company")is hereby amended further by this Amendment No. 3 to
the Schedule 13D. The Company's principal executive offices are located at
14th Floor, 2 North Cascade Avenue, Colorado Springs, Colorado 80903.
Item 2. Identity and Background.
(a) This statement is filed by:
(i) Tontine Partners, L.P., a Delaware limited partnership
("TP"), with respect to the shares of Common Stock directly
owned by it;
(ii) Tontine Management, L.L.C., a Delaware limited liability company
("TM"), with respect to the shares of Common Stock
directly owned by TP;
(iii) Tontine Overseas Associates, L.L.C., a Delaware limited
liability company ("TOA"), which serves as investment
manager to Tontine Overseas Fund, Ltd., a company organized
under
the laws of the Cayman Islands ("TOF")with respect to the shares
of Common Stock owned by TOF; and
(iv) Mr. Jeffrey L. Gendell ("Mr. Gendell") with respect to the
shares of Common Stock directly owned by him, TP and TOF.
The foregoing persons are hereinafter sometimes
collectively referred to as the "Reporting Persons." Any
disclosures herein with respect to persons other than the
Reporting Persons are made on information and belief after
making inquiry to the appropriate party.
(b) The address of the principal business and principal office of TP
and TM is 200 Park Avenue, Suite 3900, New York, New York
10166. The business address of Mr. Gendell is 200 Park Avenue,
Suite 3900, New York, New York 10166.
(c) The principal business of TP is serving as a private investment
limited partnership investing primarily in financial
institutions.
The principal business of TM is serving as general partner to TP.
The principal business of TOA is that of an investment adviser
engaging in the purchase and sale of securities on behalf of
clients. Mr. Gendell serves as the Managing Member of TM and
TOA.
(d) None of the Reporting Persons has, during the last five years,
been convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors).
(e) None of the Reporting Persons has, during the last five years,
been
a party to a civil proceeding of a judicial or administrative body
of competent jurisdiction and, as a result of such proceeding,
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.
<PAGE>
CUSIP No. 960878106 13D Page 7 of 10 Pages
(f) TP is a limited partnership organized under the laws of the State
of Delaware. Each of TM and TOA is a limited liability company organized
under
the laws of the State of Delaware. Mr. Gendell is a United States citizen.
Item 3. Source and Amount of Funds and Other Consideration.
The net investment cost (including commissions, if any) of the shares of
Common Stock directly owned by TP, TOF and Mr. Gendell is approximately
$3,748,317. Neither TM nor TOA owns directly any shares of Common Stock.
The shares of Common Stock purchased by TP, TOF and Mr. Gendell were
purchased with working capital and on margin. TP's margin transactions are
with ING Barings Furman Selz LLC, on such firm's usual terms and conditions.
All or part of the shares of Common Stock directly owned by TP, TOF and
Mr. Gendell may from time to time be pledged with one or more banking
institutions or brokerage firms as collateral for loans made by such bank(s)
or
brokerage firm(s) to TP, TOF and Mr. Gendell, respectively. Such loans bear
interest at a rate based upon the broker's call rate from time to time in
effect. Such indebtedness may be refinanced with other banks or broker-
dealers.
*****************************
Item 5. Interest in Securities of the Issuer.
A. Tontine Partners, L.P.
(a) Aggregate number of shares beneficially owned: 202,690
Percentage: 2.9% The percentages used herein and in
the rest of Item 5 are calculated based upon the 7,069,663 shares of Common
Stock issued and outstanding as of November 1, 2000 as reflected in the
Company's Form 10-Q for the period ending September 30, 2000.
(b) 1. Sole power to vote or direct vote: -0-
2. Shared power to vote or direct vote: 202,690
3. Sole power to dispose or direct the disposition: -0-
4. Shared power to dispose or direct the disposition:
202,690
(c) The trading dates, number of shares of Common Stock
purchased
or sold and the price per share for all transactions by TP in the Common Stock
within the last sixty days, which were all in the open market, are set forth
in
Schedule A and are incorporated by reference.
(d) TM, the general partner of TP, has the power to direct the
affairs of TP, including decisions respecting the receipt of dividends from,
and the disposition of the proceeds from the sale of, the shares. Mr. Gendell
is the Managing Member of TM and in that capacity directs its operations.
(e) Not Applicable.
B. Tontine Management, L.L.C.
(a) Aggregate number of shares beneficially owned: 202,690
Percentage: 2.9%
(b) 1. Sole power to vote or direct vote: -0-
2. Shared power to vote or direct vote: 202,690
3. Sole power to dispose or direct the disposition: -0-
4. Shared power to dispose or direct the disposition:
202,690
<PAGE>
CUSIP No. 960878106 13D Page 8 of 10 Pages
(c) TM did not enter into any transactions in the Common Stock
of the Company within the last sixty days. The trading dates, number of
shares of Common Stock purchased or sold and the price per share for all
transactions in the Common Stock within the last sixty days on behalf of TP,
which were all in the open market, are set forth in Schedule A, and are
incorporated by reference.
(d) Not applicable.
(e) Not applicable.
C. Tontine Overseas Associates, L.L.C.
(a) Aggregate number of shares beneficially owned: 43,630
Percentage: 0.6%
(b) 1. Sole power to vote or direct vote: -0-
2. Shared power to vote or direct vote: 43,630
3. Sole power to dispose or direct the disposition: -0-
4. Shared power to dispose or direct the disposition: 43,630
(c) TOA did not enter into any transactions in the Common Stock
of the Company within the last sixty days.
(d) Each of the clients of TOA has the power to direct the
receipt of dividends from or the proceeds of the sale of such shares.
(e) Not applicable.
D. Jeffrey L. Gendell
(a) Aggregate number of shares beneficially owned: 795,320
Percentage: 11.2%
(b) 1. Sole power to vote or direct vote: 549,000
2. Shared power to vote or direct vote: 246,320
3. Sole power to dispose or direct the disposition: 549,000
4. Shared power to dispose or direct the disposition:
246,320
(c) The trading dates, number of shares of Common Stock
purchased
or sold and the price per share for all transactions in the Common Stock
within
the last sixty days on behalf of TP, which were all in the open market, are
set forth in Schedule A, and are incorporated by reference.
(d) Not applicable.
(e) Not applicable.
<PAGE>
CUSIP No. 960878106 13D Page 9 of 10 Pages
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
DATED: January 4, 2001
/s/ JEFFREY L. GENDELL
---------------------
Jeffrey L. Gendell, individually, and as
managing member of
Tontine Management, L.L.C.,
general partner of
Tontine Partners, L.P., and
as managing member of
Tontine Overseas Associates, L.L.C.,
<PAGE>
CUSIP No. 960878106 13D Page 10 of 10 Pages
Schedule A
Tontine Partners, L.P.
Price Per Share
Date of Number of Shares (including commissions,
Transaction Purchased/(Sold) if any)
12/28/00 16,000 $8.49
12/29/00 15,000 $9.03
01/02/01 25,000 $9.00
01/03/01 22,200 $8.94
