AMERICAN BANKNOTE CORP
SC 13G, 1997-11-10
COMMERCIAL PRINTING
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                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

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                                  SCHEDULE 13G

                        Under the Securities Act of 1934

                          American Banknote Corporation
 
        --------------------------------------------------------------

                                (Name of Issuer)

                     Common Stock, Par Value $.01 Per Share

         --------------------------------------------------------------

                         (Title of Class of Securities)

                                    024490104

         --------------------------------------------------------------

                                 (CUSIP Number)

         --------------------------------------------------------------


The information required in the remainder of this cover page (except any items
to which the form provides a cross-reference) 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.




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CUSIP No. 024490104                   13G                      Page 2 of 8 Pages

- --------------------------------------------------------------------------------
1      Name of Reporting Person     Steven A. Van Dyke

       I.R.S. Identification No. of Above Person   Not applicable

- --------------------------------------------------------------------------------
2      Check the Appropriate Box if a Member of a Group (See Instructions)(a)[ ]
                                                                          (b)[X]
- --------------------------------------------------------------------------------
3      SEC Use Only

- --------------------------------------------------------------------------------
4      Citizenship or Place of Organization
       United States

- --------------------------------------------------------------------------------
   Number of        5     Sole Voting Power
    Shares                2,287,950

                  --------------------------------------------------------------
  Beneficially      6     Shared Voting Power
    Owned by              0

                  --------------------------------------------------------------
 Each Reporting     7     Sole Dispositive Power
                          2,287,950
 
                 ---------------------------------------------------------------
  Person With       8     Shared Dispositive Power
                          0

- --------------------------------------------------------------------------------
9      Aggregate Amount Beneficially Owned by Each Reporting Person
       2,287,950

- --------------------------------------------------------------------------------
10     Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares (See
       Instructions)                                                         [ ]

- --------------------------------------------------------------------------------
11     Percent of Class Represented by Amount in Row (9)
       11.3%

- --------------------------------------------------------------------------------
12     Type of Reporting Person (See Instructions)

       IN, HC

- --------------------------------------------------------------------------------






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CUSIP No. 024490104                   13G                      Page 3 of 8 Pages

- --------------------------------------------------------------------------------
1      Name of Reporting Person     Tower Investment Group, Inc.

       I.R.S. Identification No. of Above Person   59-2924229

- --------------------------------------------------------------------------------
2      Check the Appropriate Box if a Member of a Group (See Instructions)(a)[ ]
                                                                          (b)[X]
- --------------------------------------------------------------------------------
3      SEC Use Only

- --------------------------------------------------------------------------------
4      Citizenship or Place of Organization
       Florida

- --------------------------------------------------------------------------------
    Number of       5     Sole Voting Power
     Shares               2,287,950

                  --------------------------------------------------------------
  Beneficially      6     Shared Voting Power
    Owned by              0

                  --------------------------------------------------------------
      Each          7     Sole Dispositive Power
    Reporting             2,287,950

                  --------------------------------------------------------------
  Person With       8     Shared Dispositive Power
                          0

- --------------------------------------------------------------------------------
9      Aggregate Amount Beneficially Owned by Each Reporting Person
       2,287,950

- --------------------------------------------------------------------------------
10     Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares (See
       Instructions)                                                         [ ]

- --------------------------------------------------------------------------------
11     Percent of Class Represented by Amount in Row (9)
       11.3%

- --------------------------------------------------------------------------------
12     Type of Reporting Person (See Instructions)

       HC

- --------------------------------------------------------------------------------





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CUSIP No. 024490104                   13G                      Page 4 of 8 Pages

- --------------------------------------------------------------------------------
1      Name of Reporting Person     Bay Harbour Management, L.C.

       I.R.S. Identification No. of Above Person   59-3418243

- --------------------------------------------------------------------------------
2      Check the Appropriate Box if a Member of a Group (See Instructions)(a)[ ]
                                                                          (b)[X]
- --------------------------------------------------------------------------------
3      SEC Use Only

- --------------------------------------------------------------------------------
4      Citizenship or Place of Organization

       Florida

- --------------------------------------------------------------------------------
   Number of        5     Sole Voting Power
    Shares                2,287,950

                  --------------------------------------------------------------
  Beneficially      6     Shared Voting Power
    Owned by              0

                  --------------------------------------------------------------
     Each           7     Sole Dispositive Power
   Reporting              2,287,950

                  --------------------------------------------------------------
  Person With       8     Shared Dispositive Power
                          0

- --------------------------------------------------------------------------------
9      Aggregate Amount Beneficially Owned by Each Reporting Person
       2,287,950

- --------------------------------------------------------------------------------
10     Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares (See
       Instructions)                                                         [ ]

- --------------------------------------------------------------------------------
11     Percent of Class Represented by Amount in Row (9)
       11.3%

- --------------------------------------------------------------------------------
12     Type of Reporting Person (See Instructions)

       IA

- --------------------------------------------------------------------------------





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CUSIP No. 024490104                   13G                      Page 5 of 8 Pages

Item 1(a)  Name of Issuer:

           American Banknote Corporation.

Item 1(b)  Address of Issuer's Principal Executive Offices:

           200 Park Avenue
           New York, New York  10166-4999

Item 2(a)  Name of Person(s) Filing:

           Bay Harbour Management, L.C. ("Bay Harbour"), Tower Investment Group,
           Inc. ("Tower"), as the majority stockholder of Bay Harbour, and
           Steven A. Van Dyke, in his capacity as the sole stockholder and
           President of Tower.

Item 2(b)  Address of Principal Business Office:

           The principal business address of Bay Harbour, Tower and Mr. Van Dyke
           is 777 South Harbour Island Boulevard, Suite 270, Tampa, Florida
           33602.

Item 2(c)  Citizenship:

           Bay Harbour - Florida
           Tower - Florida
           Mr. Van Dyke - United States

Item 2(d)  Title of Class of Securities:

           Common Stock, par value $.01 per share, of American Banknote
           Corporation.

Item 2(e)  CUSIP Number:

           024490104

Item 3     The person(s) filing is (are):

           Bay Harbour is an investment adviser registered under Section 203 of
           the Investment Advisers Act of 1940.

           Tower is a parent holding company of Bay Harbour.

           Mr. Van Dyke is a "parent holding company" of Bay Harbour.



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CUSIP No. 024490104                   13G                      Page 6 of 8 Pages

Item 4(a)  Amount Beneficially Owned:

           As of October 31, 1997, Bay Harbour may be deemed to be the
           beneficial owner of 2,287,950 shares of Common Stock of American
           Banknote Corporation as a result of voting and dispositive power that
           it held with respect to the 2,287,950 shares of Common Stock of
           American Banknote Corporation held for the account of four private
           investment funds and 17 managed accounts.

           As of October 31, 1997, Tower may be deemed to be the beneficial
           owner of the 2,287,950 shares of Common Stock of American Banknote
           Corporation deemed to be beneficially owned by Bay Harbour referred
           to above. Tower is the majority stockholder of Bay Harbour.

           As of October 31, 1997, Mr. Van Dyke may be deemed to be the
           beneficial owner of the 2,287,950 shares of Common Stock of American
           Banknote Corporation deemed to be beneficially owned by Bay Harbour
           referred to above. Mr. Van Dyke is the sole stockholder and President
           of Tower.

Item 4(b)  Percent of Class:

           11.3%

Item 4(c)  Number of shares as to which Bay Harbour has:

           (i)  sole power to vote or direct the vote:  2,287,950
           (ii)  shared power to vote or to direct the vote:  0
           (iii)  the sole power to dispose of or to direct the disposition of:
                  2,287,950
           (iv)  shared power to dispose of or to direct the disposition of:  0

           Bay Harbour does not currently possess any rights to acquire
           additional shares of American Banknote Corporation Common Stock.

           Number of shares as to which Tower has:

           (i)  sole power to vote or direct the vote:  2,287,950
           (ii)  shared power to vote or to direct the vote:  0
           (iii)  the sole power to dispose of or to direct the disposition of:
                  2,287,950
           (iv)  shared power to dispose of or to direct the disposition of:  0

           Tower does not currently possess any rights to acquire additional
           shares of American Banknote Corporation Common Stock.


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CUSIP No. 024490104                   13G                      Page 7 of 8 Pages

           Number of shares as to which Mr. Van Dyke has:

           (i)  sole power to vote or direct the vote:  2,287,950
           (ii)  shared power to vote or to direct the vote:  0
           (iii)  the sole power to dispose of or to direct the disposition of:
                  2,287,950
           (iv)  shared power to dispose of or to direct the disposition of:  0

           Mr. Van Dyke does not currently possess any rights to acquire
           additional shares of American Banknote Corporation Common Stock.

Item 5.    Ownership of Five Percent or Less of a Class.

           Inapplicable.

Item 6.    Ownership of More than 5% on Behalf of Another Person.

           The limited partners of the partnerships and the investors in the
           managed accounts for which Bay Harbour acts as an investment adviser
           have the right to participate in the receipt of dividends from, or
           proceeds from the sale of, securities held by their funds or
           accounts, as the case may be. No such fund, single limited partner of
           any of such funds nor any investor in a managed account holds a
           beneficial interest in the American Banknote Corporation Common Stock
           which would cause such person to be deemed the beneficial owner of
           more than five percent of the outstanding Common Stock of American
           Banknote Corporation.

Item 7.    Identification and Classification of the Subsidiary Which Acquired
           the Security Being Reported on By the Parent Holding Company. 

           See Item 3 hereof.

Item 8.    Identification and Classification of Members of the Group.

           Inapplicable.

Item 9.    Notice of Dissolution of the Group.

           Inapplicable.

Item 10.   Certification.

           By signing below each of the undersigned certifies that, to the best
           of such person's knowledge and belief, the securities referred to
           above were acquired in the ordinary course



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CUSIP No. 024490104                   13G                      Page 8 of 8 Pages

           of business and were not acquired for the purpose of and do
           not have the effect of changing or influencing the control of the
           issuer or such securities and were not acquired in connection with or
           as a participant in any transaction have such purpose or effect.

                                    SIGNATURE

        After reasonable inquiry and to the best of their knowledge and belief,
each of the undersigned certify that the information set forth in this statement
is true, complete and correct.

Date:  November 10, 1997  BAY HARBOUR MANAGEMENT, L.C.

                                       By:         STEVEN A. VAN DYKE
                                          -------------------------------------
                                          Name:  Steven A. Van Dyke
                                          Title:  President and Chief Executive
                                                  Officer

Dated:  November 10, 1997                TOWER INVESTMENT GROUP, INC.

                                         By:         STEVEN A. VAN DYKE
                                          -------------------------------------
                                          Name:  Steven A. Van Dyke
                                          Title:  President

Dated:  November 10, 1997                           STEVEN A. VAN DYKE
                                          -------------------------------------
                                                    Steven A. Van Dyke



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                                  Exhibit Index

Exhibit I      Joint Filing Agreement, dated November 10, 1997, by and among Bay
               Harbour Management, L.C., Tower Investment Group, Inc. and
               Steven A. Van Dyke




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                                                                       Exhibit I

                             Joint Filing Agreement

        The undersigned acknowledge and agree that the foregoing statement on
Schedule 13G is filed on behalf of each of the undersigned and that all
subsequent amendments to this statement shall be filed on behalf of each of the
undersigned without the necessity of filing additional joint filing agreements.
The undersigned acknowledge that each shall be responsible for the timely filing
of such amendments, and for the completeness and accuracy of the information
concerning it contained therein, but shall not be responsible for the
completeness and accuracy of the information concerning the others, except to
the extent that it knows or has reason to believe that such information is
inaccurate.

        This Agreement may be executed counterparts and each of such
counterparts taken together shall constitute one and the same instrument.

Date:  November 10, 1997                  BAY HARBOUR MANAGEMENT, L.C.

                                          By:    STEVEN A. VAN DYKE
                                             --------------------------
                                             Name:  Steven A. Van Dyke
                                             Title: President and Chief
                                             Executive Officer

Date:  November 10, 1997                  TOWER INVESTMENT GROUP, INC.

                                          By:    STEVEN A. VAN DYKE
                                             --------------------------
                                              Name:  Steven A. Van Dyke
                                              Title:  President


Dated:  November 10, 1997                        STEVEN A. VAN DYKE
                                             --------------------------
                                                 Steven A. Van Dyke



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