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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED
PURSUANT TO RULES 13d-1(b)(c), AND (d) AND AMENDMENTS
THERETO FILED PURSUANT TO RULE 13d-2(b)
(Amendment No. 2)
Under the Securities Act of 1934
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)
December 31, 1998
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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:
[X] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
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 (the "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 10 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 (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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5 Sole Voting Power
Number of
Shares 77,620
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Beneficially 6 Shared Voting Power
Owned by
2,875,266
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Each 7 Sole Dispositive Power
Reporting
77,620
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Person With 8 Shared Dispositive Power
2,875,266
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9 Aggregate Amount Beneficially Owned by Each Reporting Person
2,952,886
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10 Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares [ ]
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11 Percent of Class Represented by Amount in Row (9)
14.89%
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12 Type of Reporting Person
IN, HC
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CUSIP No. 024490104 13G Page 3 of 10 Pages
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1 Name of Reporting Person Douglas P. Teitelbaum
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 (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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5 Sole Voting Power
Number of
Shares 0
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Beneficially 6 Shared Voting Power
Owned by
2,875,266
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Each 7 Sole Dispositive Power
Reporting
0
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Person With 8 Shared Dispositive Power
2,875,266
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9 Aggregate Amount Beneficially Owned by Each Reporting Person
2,875,266
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10 Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares [ ]
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11 Percent of Class Represented by Amount in Row (9)
14.50%
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12 Type of Reporting Person
IN, HC
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CUSIP No. 024490104 13G Page 4 of 10 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 (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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5 Sole Voting Power
Number of
Shares 2,875,266
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Beneficially 6 Shared Voting Power
Owned by
0
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Each 7 Sole Dispositive Power
Reporting
2,875,266
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Person With 8 Shared Dispositive Power
0
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9 Aggregate Amount Beneficially Owned by Each Reporting Person
2,875,266
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10 Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares [ ]
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11 Percent of Class Represented by Amount in Row (9)
14.50%
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12 Type of Reporting Person
HC
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CUSIP No. 024490104 13G Page 5 of 10 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 (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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5 Sole Voting Power
Number of
Shares 2,875,266
------------------------------------------------------------------
Beneficially 6 Shared Voting Power
Owned by
0
------------------------------------------------------------------
Each 7 Sole Dispositive Power
Reporting
2,875,266
------------------------------------------------------------------
Person With 8 Shared Dispositive Power
0
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9 Aggregate Amount Beneficially Owned by Each Reporting Person
2,875,266
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10 Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares [ ]
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11 Percent of Class Represented by Amount in Row (9)
14.50%
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12 Type of Reporting Person
IA
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CUSIP No. 024490104 13G Page 6 of 10 Pages
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This Amendment No. 2 amends and supplements the Statement on Schedule
13G, originally filed with the Securities and Exchange Commission on February
12, 1998, as amended on March 5, 1998 (the "Schedule 13G"), by Bay Harbour
Management, L.C., Tower Investment Group, Inc., as the majority stockholder of
Bay Harbour, and Steven A. Van Dyke, in his capacity as the sole stockholder and
president of Tower. Since the filing of the Schedule 13G, Douglas P. Teitelbaum
has become a stockholder of Tower. Capitalized terms contained herein but not
otherwise defined have the meanings ascribed to them in the Schedule 13G.
Item 1(b) Address of Issuer's Principal Executive Offices:
Item 1(b) is hereby amended in its entirety to read as follows:
410 Park Avenue
New York, New York 10022-4407
Item 2(a) Name of Person(s) Filing:
Item 2(a) is hereby amended in its entirety to read as follows:
Bay Harbour Management, L.C. ("Bay Harbour"), Tower Investment Group,
Inc. ("Tower"), as the majority stockholder of Bay Harbour, Steven A.
Van Dyke ("Mr. Van Dyke"), in his capacity as a stockholder and
president of Tower, and Douglas P. Teitelbaum ("Mr. Teitelbaum"), in
his capacity as a stockholder of Tower.
Item 2(b) Address of Principal Business Office:
Item 2(b) is hereby amended in its entirety to read as follows:
The principal business address of Bay Harbour, Tower and Mr. Van Dyke
is 777 South Harbour Island Boulevard, Suite 270, Tampa, Florida
33602. Mr. Teitelbaum's principal business address is 885 Third
Avenue, 34th Floor, New York, NY 10022.
Item 2(c) Citizenship:
Item 2(c) is hereby amended in its entirety to read as follows:
Bay Harbour - Florida
Tower - Florida
Mr. Van Dyke - United States
Mr. Teitelbaum - United States
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CUSIP No. 024490104 13G Page 7 of 10 Pages
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Item 2(d) Title of Class of Securities:
Item 2(d) is hereby amended in its entirety to read as follows:
Common Stock, par value $.01 per share, of American Banknote
Corporation ("American Banknote Common Stock").
Item 3 The person(s) filing is (are):
Item 3 is hereby amended in its entirety to read as follows:
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.
Mr. Teitelbaum is a "parent holding company" of Bay Harbour.
Item 4(a) Amount Beneficially Owned:
Item 4(a) is hereby amended in its entirety to read as follows:
As of December 31, 1998, Bay Harbour may be deemed to be the
beneficial owner of 2,875,266 shares of American Banknote Common Stock
as a result of voting and dispositive power that it held with respect
to the 2,875,266 shares of American Banknote Common Stock held for the
account of five private investment funds and seven managed accounts.
As of December 31, 1998, Tower may be deemed to be the beneficial
owner of the 2,875,266 shares of American Banknote Common Stock deemed
to be beneficially owned by Bay Harbour as referred to above. Tower
is the majority stockholder of Bay Harbour.
As of December 31, 1998, Mr. Van Dyke may be deemed beneficial owner
of 2,952,886 shares of American Banknote Common Stock, consisting of
(i) 2,875,266 shares of Common Stock deemed to be beneficially owned
by Bay Harbour as referred to above and (ii) 77,620 shares of Common
Stock beneficially owned by Mr. Van Dyke. Mr. Van Dyke is a
stockholder and President of Tower.
As of December 31, 1998, Mr. Teitelbaum may be deemed the beneficial
owner of 2,875,266 shares of American Banknote Common Stock, deemed to
be beneficially owned by Bay Harbour as referred to above. Mr.
Teitelbaum is a stockholder of Tower.
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CUSIP No. 024490104 13G Page 8 of 10 Pages
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Item 4(b) Percent of Class:
Item 4(b) is hereby amended in its entirety to read as follows:
14.89% (14.50% beneficially owned by Tower, Bay Harbour and
Mr. Teitelbaum)
Item 4(c) Number of shares as to which reporting persons have:
Item 4(c) is hereby amended in its entirety to read as follows:
Number of shares as to which Bay Harbour has:
(i) sole power to vote or direct the vote: 2,875,266
(ii) shared power to vote or to direct the vote: 0
(iii) the sole power to dispose of or to direct the disposition of:
2,875,266
(iv) shared power to dispose of or to direct the disposition of: 0
Number of shares as to which Tower has:
(i) sole power to vote or direct the vote: 2,875,266
(ii) shared power to vote or to direct the vote: 0
(iii) the sole power to dispose of or to direct the disposition of:
2,875,266
(iv) shared power to dispose of or to direct the disposition of: 0
Number of shares as to which Mr. Van Dyke has:
(i) sole power to vote or direct the vote: 77,620
(ii) shared power to vote or to direct the vote: 2,875,266
(iii) the sole power to dispose of or to direct the disposition of:
77,620
(iv) shared power to dispose of or to direct the disposition of:
2,875,266
Number of shares as to which Mr. Teitelbaum has:
(i) sole power to vote or direct the vote: 0
(ii) shared power to vote or to direct the vote: 2,875,266
(iii) the sole power to dispose of or to direct the disposition of: 0
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CUSIP No. 024490104 13G Page 9 of 10 Pages
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(iv) shared power to dispose of or to direct the disposition of:
2,875,266
Item 10. Certification.
Item 10 is hereby amended in its entirety to read as follows:
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 of business and 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.
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CUSIP No. 024490104 13G Page 10 of 10 Pages
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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: February 11, 1999 BAY HARBOUR MANAGEMENT, L.C.
By: /s/ Steven A. Van Dyke
___________________________________
Name: Steven A. Van Dyke
Title: President
Date: February 11, 1999 TOWER INVESTMENT GROUP, INC.
By: /s/ Steven A. Van Dyke
__________________________________
Name: Steven A. Van Dyke
Title: President
/s/ Steven A. Van Dyke
Date: February 11, 1999 _____________________________________
Steven A. Van Dyke
/s/ Douglas P. Teitelbaum
Date: February 11, 1999 _____________________________________
Douglas P. Teitelbaum
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Exhibit Index
The Exhibit Index is hereby amended in its entirety as follows:
Exhibit I Joint Filing Agreement, dated February 11, 1999, by and among Bay
Harbour Management, L.C., Tower Investment Group, Inc., Steven A.
Van Dyke and Douglas P. Teitelbaum.
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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 in counterparts and each of such
counterparts taken together shall constitute one and the same instrument.
Date: February 11, 1999 BAY HARBOUR MANAGEMENT, L.C.
By: /s/ Steven A. Van Dyke
____________________________________
Name: Steven A. Van Dyke
Title: President and Chief Executive
Officer
Date: February 11, 1999 TOWER INVESTMENT GROUP, INC.
By: /s/ Steven A. Van Dyke
____________________________________
Name: Steven A. Van Dyke
Title: President
/s/ Steven A. Van Dyke
Date: February 11, 1999 ________________________________________
Steven A. Van Dyke
/s/ Douglas P. Teitelbaum
Date: February 11, 1999 ________________________________________
Douglas P. Teitelbaum
