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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 2 )*
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WHX CORPORATION
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
929248102
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(CUSIP Number)
FEBRUARY 4, 2000
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
/ / Rule 13d-1(b)
/X/ Rule 13d-1(c)
/ / Rule 13d-1(d)
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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 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).
Page 1 of 8
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CUSIP No. 929248102 13G Page 2 of 8
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(1) Names of Reporting Persons.
CANYON CAPITAL ADVISORS LLC
I.R.S. Identification Nos. of above persons (entities only).
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(2) Check the Appropriate Box if a Member (a) /X/
of a Group (See Instructions) (b) / /
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(3) SEC Use Only
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(4) Citizenship or Place of Organization
DELAWARE
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Number of Shares (5) Sole Voting Power
Beneficially 825,000
Owned by --------------------------------------------------
Each Reporting (6) Shared Voting Power
Person With: 0
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(7) Sole Dispositive Power
825,000
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(8) Shared Dispositive Power
0
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(9) Aggregate Amount Beneficially Owned by Each Reporting Person
825,000
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(10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions) / /
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(11) Percent of Class Represented by Amount in Row (9)
5.7%
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(12) Type of Reporting Person (See Instructions)
IA
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CUSIP No. 929248102 13G Page 3 of 8
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(1) Names of Reporting Persons.
MITCHELL R. JULIS
I.R.S. Identification Nos. of above persons (entities only).
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(2) Check the Appropriate Box if a Member (a) /X/
of a Group (See Instructions) (b) / /
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(3) SEC Use Only
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(4) Citizenship or Place of Organization
UNITED STATES
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Number of Shares (5) Sole Voting Power
Beneficially 0
Owned by --------------------------------------------------
Each Reporting (6) Shared Voting Power
Person With: 825,000
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(7) Sole Dispositive Power
0
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(8) Shared Dispositive Power
825,000
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(9) Aggregate Amount Beneficially Owned by Each Reporting Person
825,000
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(10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions) / /
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(11) Percent of Class Represented by Amount in Row (9)
5.7%
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(12) Type of Reporting Person (See Instructions)
IN
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CUSIP No. 929248102 13G Page 4 of 8
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(1) Names of Reporting Persons.
JOSHUA S. FRIEDMAN
I.R.S. Identification Nos. of above persons (entities only).
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(2) Check the Appropriate Box if a Member (a) /X/
of a Group (See Instructions) (b) / /
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(3) SEC Use Only
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(4) Citizenship or Place of Organization
UNITED STATES
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Number of Shares (5) Sole Voting Power
Beneficially 0
Owned by --------------------------------------------------
Each Reporting (6) Shared Voting Power
Person With: 825,000
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(7) Sole Dispositive Power
0
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(8) Shared Dispositive Power
825,000
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(9) Aggregate Amount Beneficially Owned by Each Reporting Person
825,000
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(10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions) / /
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(11) Percent of Class Represented by Amount in Row (9)
5.7%
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(12) Type of Reporting Person (See Instructions)
IN
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CUSIP No. 929248102 13G Page 5 of 8
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(1) Names of Reporting Persons.
R. CHRISTIAN B. EVENSEN
I.R.S. Identification Nos. of above persons (entities only).
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(2) Check the Appropriate Box if a Member (a) /X/
of a Group (See Instructions) (b) / /
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(3) SEC Use Only
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(4) Citizenship or Place of Organization
UNITED STATES
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Number of Shares (5) Sole Voting Power
Beneficially 0
Owned by --------------------------------------------------
Each Reporting (6) Shared Voting Power
Person With: 825,000
--------------------------------------------------
(7) Sole Dispositive Power
0
--------------------------------------------------
(8) Shared Dispositive Power
825,000
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(9) Aggregate Amount Beneficially Owned by Each Reporting Person
825,000
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(10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions) / /
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(11) Percent of Class Represented by Amount in Row (9)
5.7%
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(12) Type of Reporting Person (See Instructions)
IN
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ITEM 1.
(a) Name of Issuer
WHX Corporation
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(b) Address of Issuer's Principal Executive Offices
110 East 59th Street
New York, NY 10022
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ITEM 2.
(a) Name of Person Filing
This Schedule 13G is being filed on behalf of the following
persons*:
(i) Canyon Capital Advisors LLC ("CCA")
(ii) Mitchell R. Julis
(iii) Joshua S. Friedman
(iv) R. Christian B. Evensen
CCA is the investment advisor to the following persons:
(i) The Value Realization Fund, L.P. ("VRF")
(ii) The Value Realization Fund B, L.P. ("VRFB")
(iii) The Canyon Value Realization Fund (Cayman), Ltd. ("CVRF")
* Attached as Exhibit A is a copy of an agreement among the
persons filing (as specified hereinabove) that this Schedule
13G is being filed on behalf of each of them.
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(b) Address of Principal Business Office or, if none, Residence
The principal business office of the persons comprising the group
filing this Schedule 13G is located at 9665 Wilshire Boulevard,
Suite 200, Beverly Hills, CA 90212.
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(c) Citizenship
CCA: a Delaware limited liability company
VRF: a Delaware limited partnership
VRFB: a Delaware limited partnership
CVRF: a Cayman Island corporation
Mitchell R. Julis: United States
Joshua S. Friedman: United States
R. Christian B. Evensen: United States
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(d) Title of Class of Securities
The class of securities beneficially owned by the persons filing
this statement is common stock.
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(e) CUSIP Number
929248102
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ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SECTIONS 240.13d-1(b) OR
240.13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A: ONE OF
THE FOLLOWING
Not applicable as this Schedule 13G is filed pursuant to
Rule 13d 1(c).
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ITEM 4. OWNERSHIP
The information in items 1 and 5 through 11 on the cover pages (pp. 2-5)
on this Schedule 13G is hereby incorporated by reference.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following. / /
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON
CCA is an investment advisor to various managed accounts, including VRF,
VRFB and CVRF with the right to receive or the power to direct the receipt of
dividends from, or the proceeds from the sale of the securities held by such
managed accounts. Messrs. Julis, Friedman and Evensen are the sole general
partners of entities which own 100% of CCA.
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.
Page 7 of 8
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ITEM 10. CERTIFICATION
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
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 11, 2000
CANYON CAPITAL ADVISORS LLC,
A DELAWARE LIMITED LIABILITY COMPANY
By: /s/ Joshua S. Friedman
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Name: Joshua S. Friedman
Title: Managing Director
JOSHUA S. FRIEDMAN
/s/ Joshua S. Friedman
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MITCHELL R. JULIS
/s/ Mitchell R. Julis
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R. CHRISTIAN B. EVENSEN
/s/ R. Christian B. Evensen
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Page 8 of 8
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EXHIBIT 99A
EXHIBIT A
AGREEMENT REGARDING JOINT FILING
The undersigned hereby agree and consent to the joint filing on their
behalf of this Schedule 13G in connection with their beneficial ownership of
the common stock of WHX Corporation.
Dated: February 11, 2000
CANYON CAPITAL ADVISORS LLC,
A DELAWARE LIMITED LIABILITY COMPANY
By: /s/ Joshua S. Friedman
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Name: Joshua S. Friedman
Title: Managing Director
JOSHUA S. FRIEDMAN
/s/ Joshua S. Friedman
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MITCHELL R. JULIS
/s/ Mitchell R. Julis
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R. CHRISTIAN B. EVENSEN
/s/ R. Christian B. Evensen
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EXHIBIT A
