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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13G
Under the Securities Act of 1934
(Amendment No. 1)
American Banknote Corporation
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(Name of Issuer)
Common Stock, Par Value $.01 Per Share
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(Title of Class of Securities)
024490104
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(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 7 Pages
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1 Name of Reporting Person Steven A. Van Dyke
I.R.S. Identification No. of Above Person Not applicable
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2 Check the Appropriate Box if a Member of a Group (See Instructions) (a) [ ]
(b) [X]
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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 5 Sole Voting Power
of Shares 3,405,150
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Beneficially 6 Shared Voting Power
Owned by 0
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Each 7 Sole Dispositive Power
Reporting 3,405,150
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Person 8 Shared Dispositive Power
With 0
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9 Aggregate Amount Beneficially Owned by Each Reporting Person
3,405,150
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10 Check Box 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)
16.33%
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12 Type of Reporting Person (See Instructions)
IN, HC
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CUSIP No. 024490104 13G Page 3 of 7 Pages
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1 Name of Reporting Person Tower Investment Group, Inc.
I.R.S. Identification No. of Above Person 59-2924229
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2 Check the Appropriate Box if a Member of a Group (See Instructions) (a) [ ]
(b) [X]
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3 SEC Use Only
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4 Citizenship or Place of Organization
Florida
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Number 5 Sole Voting Power
of Shares 3,379,150
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Beneficially 6 Shared Voting Power
Owned by 0
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Each 7 Sole Dispositive Power
Reporting 3,379,150
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Person 8 Shared Dispositive Power
With 0
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9 Aggregate Amount Beneficially Owned by Each Reporting Person
3,379,150
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10 Check Box 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)
16.20%
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12 Type of Reporting Person (See Instructions)
HC
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CUSIP No. 024490104 13G Page 4 of 7 Pages
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1 Name of Reporting Person Bay Harbour Management, L.C.
I.R.S. Identification No. of Above Person 59-3418243
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2 Check the Appropriate Box if a Member of a Group (See Instructions) (a) [ ]
(b) [X]
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3 SEC Use Only
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4 Citizenship or Place of Organization
Florida
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Number 5 Sole Voting Power
of Shares 3,379,150
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Beneficially 6 Shared Voting Power
Owned by 0
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Each 7 Sole Dispositive Power
Reporting 3,379,150
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Person 8 Shared Dispositive Power
With 0
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9 Aggregate Amount Beneficially Owned by Each Reporting Person
3,379,150
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10 Check Box 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)
16.20%
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12 Type of Reporting Person (See Instructions)
IA
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CUSIP No. 024490104 13G Page 5 of 7 Pages
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This Amendment No. 1 amends and supplements the Statement on Schedule 13G
(the "Schedule 13G") originally filed with the Securities and Exchange
Commission (the "Commission") on November 10, 1997, by 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. Capitalized terms not defined herein have
the meanings assigned thereto in the Schedule 13G.
Item 4 of the Schedule 13G is hereby amended in its entirety to read as follows:
Item 4(a) Amount Beneficially Owned:
As of February 28, 1998, Bay Harbour may be deemed to be the
beneficial owner of 3,379,150 shares of Common Stock of American
Banknote Corporation as a result of voting and dispositive power
that it held with respect to the 3,379,150 shares of Common Stock
of American Banknote Corporation held for the account of five
private investment funds and eight managed accounts.
As of February 28, 1998, Tower may be deemed to be the beneficial
owner of the 3,379,150 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 February 28, 1998, Mr. Van Dyke may be deemed to be the
beneficial owner of 3,405,150 shares of Common Stock of American
Banknote Corporation, consisting of (i) the 3,379,150 shares of
Common Stock deemed to be beneficially owned by Bay Harbour as
referred to above and (ii) the 26,000 shares of Common Stock
owned by Mr. Van Dyke, individually. Mr. Van Dyke is the sole
stockholder and President of Tower.
Item 4(b) Percent of Class:
16.33% (16.20% beneficially owned by Tower and Bay Harbour)
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CUSIP No. 024490104 13G Page 6 of 7 Pages
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Item 4(c) Number of shares as to which Bay Harbour has:
(i) sole power to vote or direct the vote: 3,379,150
(ii) shared power to vote or to direct the vote: 0
(iii) the sole power to dispose of or to direct the disposition
of: 3,379,150
(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: 3,379,150
(ii) shared power to vote or to direct the vote: 0
(iii) the sole power to dispose of or to direct the disposition
of: 3,379,150
(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.
Number of shares as to which Mr. Van Dyke has:
(i) sole power to vote or direct the vote: 3,405,150
(ii) shared power to vote or to direct the vote: 0
(iii) the sole power to dispose of or to direct the disposition
of: 3,405,150
(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.
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CUSIP No. 024490104 13G Page 7 of 7 Pages
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SIGNATURES
After reasonable inquiry and to the best of their knowledge and belief,
each of the undersigned certify that the information set forth in this amendment
is true, complete and correct.
Date: March 3, 1998 BAY HARBOUR MANAGEMENT, L.C.
By: /s/ Steven A. Van Dyke
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Steven A. Van Dyke
President and Chief Executive
Officer
Dated: March 3, 1998 TOWER INVESTMENT GROUP, INC.
By: /s/ Steven A. Van Dyke
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Steven A. Van Dyke, President
Dated: March 3, 1998 /s/ Steven A. Van Dyke
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Steven A. Van Dyke
