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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13G
INFORMATION STATEMENT PURSUANT TO RULES 13D-1 AND 13D-2
UNDER THE SECURITIES ACT OF 1934
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AMENDMENT NO. 1
AMERICAN PAD & PAPER CO.
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(NAME OF ISSUER)
COMMON STOCK, $.01 PAR VALUE 028816106
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(TITLE OF CLASS OF SECURITIES) (CUSIP NUMBER)
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.)
(Continued on following page(s))
(Page 1 of 6 Pages)
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NYFS07...:\56\45256\0001\6822\SCH1218N.48A
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CUSIP No. 028816106 13G Page 2 of 6
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1 NAME OF REPORTING PERSON: ENTRUST CAPITAL INC.
S.S. OR I.R.S. IDENTIFICATION NO. OF 13-3933026
ABOVE PERSON:
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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 CITIZENSHIP OR PLACE OF DELAWARE
ORGANIZATION:
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NUMBER OF 5 SOLE VOTING POWER: 0
SHARES
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BENEFICIALLY 6 SHARED VOTING POWER: 1,990,215
OWNED BY
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EACH 7 SOLE DISPOSITIVE POWER: 0
REPORTING
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PERSON WITH 8 SHARED DISPOSITIVE POWER: 2,947,855
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9 AGGREGATE AMOUNT BENEFICIALLY 2,947,855
OWNED BY REPORTING PERSON:
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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): 10.63%
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12 TYPE OF REPORTING PERSON: IA
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Item 1
(a) Name of Issuer
American Pad & Paper Co.
(b) Address of Issuer's Principal Executive Offices
17304 Preston RD., Suite 700
Dallas, Texas 75252
Item 2
(a) Name of Person Filing
See Item 1 of the Cover Page attached hereto
(b) Address of Principal Business Office or, if none, Residence
650 Madison Avenue
New York, New York 10022
(c) Citizenship
See Item 4 of the Cover Page attached hereto
(d) Title of Class of Securities
Common Stock, par value $.01 per share
(e) CUSIP Number
028816106
Item 3
(e) EnTrust Capital Inc. is an Investment Adviser registered under
section 203 of the Investment Advisers Act of 1940
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Item 4
(a) Amount Beneficially Owned
See Item 9 of the Cover Page attached hereto
(b) Percent of Class
See Item 11 of the Cover Page attached hereto
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote
See Item 5 of the Cover Page attached hereto
(ii) shared power to vote or to direct the vote
See Item 6 of the Cover Page attached hereto
(iii) sole power to dispose or to direct the disposition of
See Item 7 of the Cover Page attached hereto
(iv) shared power to dispose or to direct the disposition of
See Item 8 of the Cover Page attached hereto
Item 5
Ownership of Five Percent or Less of a Class
Not applicable
Item 6
Ownership of More than Five Percent on Behalf of Another Person
Not applicable
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Item 7
Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on By the Parent Holding Company
Not applicable
Item 8
Identification and Classification of Members of the Group
Not applicable
Item 9
Notice of Dissolution of Group
Not applicable
Item 10
Certification
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the
ordinary course 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 of such securities and were not acquired in connection
with or as a participant in any transaction having such purposes or
effect.
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SIGNATURE
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.
April 10, 1998
EnTrust Capital Inc.
/s/ Mark S. Fife
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Name: Mark S. Fife
Title: Principal
