UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 16)*
GIANT GROUP, LTD.
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(Name of Issuer)
COMMON STOCK, PAR VALUE $.01 PAR VALUE
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(Title of Class of Securities)
374503100
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(CUSIP Number)
Burt Sugarman
c/o GIANT GROUP, LTD.
9000 Sunset Boulevard
10th Floor
Los Angeles, California 90069
(310) 273-5678
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(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
March 30, 1998
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(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.)
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 to be sent.
*The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect to a
subject class of securities, and for any subsequent amendment
containing information which would alter disclosures provided in
a prior cover page.
The information required on 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 liabilities of this section of the Act but shall be
subject to all other provisions of the Act (however, see the Notes).
Page 1 of 5 pages
<PAGE>
SCHEDULE 13D
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CUSIP No. 374503100 Page 2 of 5 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
BURT SUGARMAN
S.S. #. ###-##-####
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E) [X]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.
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7 SOLE VOTING POWER
NUMBER OF
2,988,672 shares (includes options to
SHARES purchase 1,799,202 shares).
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BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
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EACH 9 SOLE DISPOSITIVE POWER
REPORTING 2,988,672 shares (includes options to
purchase 1,799,202 shares).
PERSON WITH -------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,988,672 shares (includes options to purchase 1,799,202
shares).
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [X]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
60.0%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
Item 1. Security and Issuer. This statement relates to
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the Common Stock, par value $.01 per share (the "Common Stock"),
of GIANT GROUP, LTD., a Delaware corporation (the "Company"),
the principal executive offices of which are located at 9000
Sunset Boulevard, 16th floor, Los Angeles, California 90069.
This statement is the 16th amendment to a Schedule 13D initially
filed by Burt Sugarman on January 13, 1982. Except to the extent
amended herein, the information as set forth in his Schedule 13D,
as amended, remains in effect.
Item 5. Interest in Securities of the Issuer.
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(a) and (b) The following table sets forth information
with respect to Common Stock beneficially owned by Mr. Sugarman
as of April 2, 1998 (based upon 3,180,655 shares outstanding as
of March 31, 1998):
Number of Nature of Beneficial Approximate % of
Shares Ownership Outstanding Shares
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2,988,672(1) Sole Voting and 60.0%
Investment Power
(1) Includes 1,799,202 shares under presently exercisable
options, of which options for 1,599,202 shares are exercisable at
$6.75 per share expiring in March 2005, and options for 200,000
shares are exercisable at $8.25 per share expiring in September
2006.
Mr. Sugarman's wife owns 109,050 shares of the Company's
Common Stock. Mr. Sugarman disclaims beneficial ownership of the
Company's securities owned by his wife. She exercises her own
investment decision in effecting transactions in the Company's
securities and uses her own personal funds in payment for such
securities.
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<PAGE>
(c) During the 60 days preceding April 2, 1998, Mr.
Sugarman's spouse had the following open-market purchases of the
Company's Common Stock:
Trade Number Total
Date of Shares Cost
------ --------- -----
March 19, 1998 10,000 $ 55,504
March 25, 1998 7,000 38,417
March 26, 1998 5,000 27,442
March 30, 1998 15,000 85,129
April 1, 1998 51,500 286,017
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<PAGE>
SIGNATURE
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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: April 2, 1998
/s/ Burt Sugarman
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Burt Sugarman
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