SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(Amendment No. 8)
Under the Securities Exchange Act of 1934
THE SEIBELS BRUCE GROUP, INC.
(Name of Issuer)
COMMON STOCK, $1 PER SHARE PAR VALUE
(Title of Class of Securities)
816006-10-0
(CUSIP Number)
David J. Levenson, Esq.
Venable, Baetjer, Howard & Civiletti, LLP
1201 New York Avenue, N.W., Suite 1000
Washington, DC 20005
(202) 962-4831
(Name, Address and Telephone Number
of Person Authorized to Receive Notices
and Communications)
November 6, 1995
(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(b)(3) or (4), check the following box / /.
Check the following box if a fee is being paid with the statement
/ /. (A fee is not required only if the reporting person: (1)
has a previous statement on file reporting beneficial ownership
of more than five percent of the class of securities described in
Item 1; and (2) has filed no amendment subsequent thereto
reporting beneficial ownership of five percent or less of such
class.) (See Rule 13d-7.)
Page 1 of 7 Pages
CUSIP No. 816006-10-0 Page 2 of 7
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON:
Saad. A. Alissa
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) /X/
(b) / /
3 SEC USE ONLY
4. SOURCE OF FUNDS:
PF
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e): / /
N/A
6. CITIZENSHIP OR PLACE OF ORGANIZATION:
Kingdom of Saudi Arabia
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
7. SOLE VOTING POWER
6,200
8. SHARED VOTING POWER
8,333,000
9. SOLE DISPOSITIVE POWER
6,200
10. SHARED DISPOSITIVE POWER
8,333,000
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
8,339,200
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES: / /
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
49.88%
14. TYPE OF REPORTING PERSON:
IN
CUSIP No. 816006-10-0 Page 3 of 7
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON:
Abdullatif Ali Alissa Est.
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): / /
N/A
6. CITIZENSHIP OR PLACE OF ORGANIZATION:
Kingdom of Saudi Arabia
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
7. SOLE VOTING POWER
8. SHARED VOTING POWER
4,175,000
9. SOLE DISPOSITIVE POWER
10. SHARED DISPOSITIVE POWER
4,175,000
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
4,175,000
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES: / /
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
24.97%
14. TYPE OF REPORTING PERSON:
OO
CUSIP No. 816006-10-0 Page 4 of 7
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON:
Financial Investors Limited
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) /X/
(b) / /
3 SEC USE ONLY
4. SOURCE OF FUNDS:
OO
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e): / /
N/A
6. CITIZENSHIP OR PLACE OF ORGANIZATION:
Cayman Islands
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
7. SOLE VOTING POWER
8. SHARED VOTING POWER
4,175,000
9. SOLE DISPOSITIVE POWER
10. SHARED DISPOSITIVE POWER
4,175,000
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
4,175,000
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES: / /
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
24.97%
14. TYPE OF REPORTING PERSON:
CO
CUSIP No. 816006-10-0 Page 5 of 7
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON:
General Investors Limited
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) /X/
(b) / /
3 SEC USE ONLY
4. SOURCE OF FUNDS:
OO
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e): / /
N/A
6. CITIZENSHIP OR PLACE OF ORGANIZATION:
Cayman Islands
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
7. SOLE VOTING POWER
8. SHARED VOTING POWER
8,333,000
9. SOLE DISPOSITIVE POWER
10. SHARED DISPOSITIVE POWER
8,333,000
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
8,333,000
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES: / /
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
49.85%
14. TYPE OF REPORTING PERSON:
CO
Page 6 of 7
SCHEDULE 13D
(Amendment No. 8)
NOTE: All capitalized terms used in this Amendment No. 7
and not defined herein shall have the same meaning as in the
statement of Saad A. Alissa and Abdullatif Ali Alissa Est. (the
"Establishment") on Schedule 13D dated January 11, 1994 and
amended by Amendment No. 1 to Schedule 13D dated January 24,
1994, Amendment No. 2 dated June 28, 1994, Amendment No. 3 dated
October 19, 1994, Amendment No. 4 dated December 14, 1994,
Amendment No. 5 dated February 13, 1995, Amendment No. 6 dated
September 27, 1995 and Amendment No 7 dated September 30, 1995.
Except as expressly stated below, there have been no material
changes in the information contained in such Schedule 13D, as
amended.
Item 4. Purpose of Transaction.
On November 6, 1995, Saad A. Alissa and Abdullatif Ali Alissa
Est. (together, the "Purchasers") filed a demand for arbitration with
the American Arbitration Association and The Seibels Bruce Group,
Inc. ("SBGI"). In such demand, the Purchasers contend that SBGI has
breached the Stock Purchase Agreement dated December 22, 1993 (the
"PurchaserAgreement") by (i) failing to pay a demand note (the
"Demand Note") in the amount of $439,167, as of December 31, 1994,
plus accrued interest, (ii) failing to comply with its obligations
concerning the size and membership of the Board of Directors and
(iii) failing to comply with its good faith obligation under the
Purchase Agreement to act in the best interest of the shareholders.
The Purchasers are seeking relief in the form of (i) monetary
damages in the amount of $439,167, plus accrued interest, on the
Demand Note, (ii) a determination that the Purchasers are entitled to
designate additional directors, (iii) a determination that the voting
and sale restrictions on the Purchasers shares of Common Stock
purchased under the Purchase Agreement are null and void and (iv)
such other relief as is appropriate.
Item 5. Interest in Securities of the Issuer.
The following table sets forth information with respect to
all transactions effected by and on behalf of the Filing Persons
since the last transaction reported in the last amendment
(Amendment No. 7) to this Schedule 13D.
Number Price
Trade of Type of Transaction Per
Date Shares Share
11/09/95 3000 Open Market Sale 1.500
11/09/95 7000 Open Market Sale 1.375
11/10/95 7000 Open Market Sale 1.375
Page 7 of 7
SIGNATURES
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.
ABDULLATIF ALI ALISSA EST.
Dated: 11/16/95 By: /s/ Saad A. Alissa
Saad A. Alissa, President
Dated: 11/16/95 By:/s/ Saad A. Alissa
Saad A. Alissa, (Individually)
GENERAL INVESTORS LIMITED
Dated: 11/16/95 By:/s/ Saad A. Alissa
Saad A. Alissa, Secretary
FINANCIAL INVESTORS LIMITED
Dated: 11/16/95 By:/s/ Saad A. Alissa
Saad A. Alissa, Secretary
