SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Amendment No. 7 to
SCHEDULE 13D
Under the Securities Exchange Act of 1934
The Leslie Fay Company Inc.
---------------------------
(Name of Issuer)
Common Stock, $ .01 par value
(Title of Class of Securities)
527016109
---------
(CUSIP Number)
Abbe L. Dienstag, Esq.
Kramer, Levin, Naftalis & Frankel
919 Third Avenue
New York, New York 10022
(212) 715-9100
--------------
(Name, Address and Telephone Number of
Person Authorized to Receive Notices
and Communications)
November 6, 1997 /1/
---------------
(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: |_|
Page 1 of 11 pages
- --------
/1/ The Reporting Persons believe that the Common Stock, $.01 par value, of the
Issuer has not been registered pursuant to Section 12 of the Securities
Exchange Act (the "Act") and, therefore, they are not required pursuant to
Rule 13(d)1 of the Act to file this Amendment No. 7 to Schedule 13D.
<PAGE>
SCHEDULE 13D
CUSIP No. 527016109 Page 2 of 11 Pages
- --------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DICKSTEIN & CO., L.P. 13-3321472
- --------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) SEE ITEM 5
- --------------------------------------------------------------------------------
3) SEC USE ONLY
- --------------------------------------------------------------------------------
4) SOURCE OF FUNDS
WC
- --------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
- --------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- --------------------------------------------------------------------------------
7) SOLE VOTING POWER
Not Applicable
NUMBER
OF 8) SHARED VOTING POWER
SHARES 910,919 (See Item 5)
BENEFICIALLY
OWNED BY 9) SOLE DISPOSITIVE POWER
EACH Not Applicable
REPORTING
PERSON 10) SHARED DISPOSITIVE POWER
WITH 910,919 (See Item 5)
- --------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
910,919 (See Item 5)
- --------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES
|_|
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
26.8% (See Item 5)
- --------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
PN
- 2 -
<PAGE>
SCHEDULE 13D
CUSIP No. 527016109 Page 3 of 11 Pages
- --------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DICKSTEIN FOCUS FUND L.P. 13-3746015
- --------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) SEE ITEM 5
- --------------------------------------------------------------------------------
3) SEC USE ONLY
- --------------------------------------------------------------------------------
4) SOURCE OF FUNDS
WC
- --------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
- --------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- --------------------------------------------------------------------------------
7) SOLE VOTING POWER
Not Applicable
NUMBER
OF 8) SHARED VOTING POWER
SHARES 147,613 (See Item 5)
BENEFICIALLY
OWNED BY 9) SOLE DISPOSITIVE POWER
EACH Not Applicable
REPORTING
PERSON 10) SHARED DISPOSITIVE POWER
WITH 147,613 (See Item 5)
- --------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
147,613 (See Item 5)
- --------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES
|_|
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.3% (See Item 5)
- --------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
PN
- 3 -
<PAGE>
SCHEDULE 13D
CUSIP No. 527016109 Page 4 of 11 Pages
- --------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DICKSTEIN INTERNATIONAL LIMITED
- --------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) SEE ITEM 5
- --------------------------------------------------------------------------------
3) SEC USE ONLY
- --------------------------------------------------------------------------------
4) SOURCE OF FUNDS
WC
- --------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
- --------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
BRITISH VIRGIN ISLANDS
- --------------------------------------------------------------------------------
7) SOLE VOTING POWER
Not Applicable
NUMBER
OF 8) SHARED VOTING POWER
SHARES 163,390 (See Item 5)
BENEFICIALLY
OWNED BY 9) SOLE DISPOSITIVE POWER
EACH Not Applicable
REPORTING
PERSON 10) SHARED DISPOSITIVE POWER
WITH 163,390 (See Item 5)
- --------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
163,390 (See Item 5)
- --------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.8% (See Item 5)
- --------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
CO
- 4 -
<PAGE>
SCHEDULE 13D
CUSIP No. 527016109 Page 5 of 11 Pages
- --------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DICKSTEIN PARTNERS, L.P. 13-3544838
- --------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) SEE ITEM 5
- --------------------------------------------------------------------------------
3) SEC USE ONLY
- --------------------------------------------------------------------------------
4) SOURCE OF FUNDS
AF
- --------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
- --------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- --------------------------------------------------------------------------------
7) SOLE VOTING POWER
Not Applicable
NUMBER
OF 8) SHARED VOTING POWER
SHARES 1,058,532 (See Item 5)
BENEFICIALLY
OWNED BY 9) SOLE DISPOSITIVE POWER
EACH Not Applicable
REPORTING
PERSON 10) SHARED DISPOSITIVE POWER
WITH 1,058,532 (See Item 5)
- --------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,058,532 (See Item 5)
- --------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
31.1% (See Item 5)
- --------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
PN
- 5 -
<PAGE>
SCHEDULE 13D
CUSIP No. 527016109 Page 6 of 11 Pages
- --------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DICKSTEIN PARTNERS INC. 13-3537972
- --------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) SEE ITEM 5
- --------------------------------------------------------------------------------
3) SEC USE ONLY
- --------------------------------------------------------------------------------
4) SOURCE OF FUNDS
AF
- --------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
- --------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- --------------------------------------------------------------------------------
7) SOLE VOTING POWER
Not Applicable
NUMBER
OF 8) SHARED VOTING POWER
SHARES 1,221,922 (See Item 5)
BENEFICIALLY
OWNED BY 9) SOLE DISPOSITIVE POWER
EACH Not Applicable
REPORTING
PERSON 10) SHARED DISPOSITIVE POWER
WITH 1,221,922 (See Item 5)
- --------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,221,922 (See Item 5)
- --------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
35.9% (See Item 5)
- --------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
CO
- 6 -
<PAGE>
SCHEDULE 13D
CUSIP No. 527016109 Page 7 of 11 Pages
- --------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
MARK DICKSTEIN
- --------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) SEE ITEM 5
- --------------------------------------------------------------------------------
3) SEC USE ONLY
- --------------------------------------------------------------------------------
4) SOURCE OF FUNDS
PF, AF
- --------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
- --------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
- --------------------------------------------------------------------------------
7) SOLE VOTING POWER
40,000
NUMBER
OF 8) SHARED VOTING POWER
SHARES 1,221,922 (See Item 5)
BENEFICIALLY
OWNED BY 9) SOLE DISPOSITIVE POWER
EACH 40,000
REPORTING
PERSON 10) SHARED DISPOSITIVE POWER
1,221,922 (See Item 5)
- --------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,261,922 (See Item 5)
- --------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- --------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
37.1% (See Item 5)
- --------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
IN
- 7 -
<PAGE>
Amendment No. 7 to
Schedule 13D
This amends the Schedule 13D dated August 15, 1997 (the "Schedule
13D"), as amended by Amendment No. 1 dated August 21, 1997, Amendment No. 2
dated August 28, 1997, Amendment No. 3 dated September 5, 1997, Amendment No. 4
dated September 10, 1997, Amendment No. 5 dated September 19, 1997 and Amendment
No. 6 dated September 24, 1997 filed by Dickstein & Co., L.P. ("Dickstein &
Co."), Dickstein Focus Fund L.P. ("Dickstein Focus"), Dickstein International
Limited ("Dickstein International"), Dickstein Partners, L.P. ("Dickstein
Partners"), Dickstein Partners Inc. ("Dickstein Inc.") and Mark Dickstein with
respect to the Common Stock, $.01 par value (the "Common Stock"), of The Leslie
Fay Company, Inc., a Delaware corporation (the "Company"). Notwithstanding this
Amendment No. 7, the Schedule 13D speaks as of its date. Capitalized terms used
without definition have the meanings ascribed to them in the Schedule 13D.
I. Item 3 of the Schedule 13D "Source and Amount of Funds or Other
Consideration," is amended and restated as follows:
"The shares of Common Stock reported to be owned by Dickstein & Co.,
Dickstein Focus, Dickstein International and Mark Dickstein were acquired in the
open market or in negotiated transactions. The total cost of the reported shares
by Dickstein & Co., Dickstein Focus, Dickstein International and Mark Dickstein
is $7,434,849, $1,223,567, $1,300,046 and $210,050, respectively. Such costs
were funded out of working capital (and in the case of Mark Dickstein, personal
funds), which may, at any given time, include margin loans made by brokerage
firms in the ordinary course of business."
II. Items 5(a) and 5(c) of the Schedule 13D "Interest in Securities of
the Issuer" are amended and restated as follows:
"(a) The Reporting Persons beneficially own an aggregate of 1,261,922
shares of Common Stock, representing approximately 37.1% of the Common Stock
outstanding. Dickstein & Co. owns 910,919 of such shares, representing
approximately 26.8% of the Common Stock outstanding, Dickstein Focus owns
147,613 of such shares, representing approximately 4.3% of the Common Stock
outstanding, Dickstein International owns 163,390 of such shares, representing
approximately 4.8% of the Common Stock outstanding, and Mark Dickstein owns
40,000 of such shares, representing approximately 1.2% of the Common Stock
outstanding.2 The Common Stock was issued pursuant to the Issuer's Amended Joint
Plan of Reorganization (the "POR") dated December 5, 1996. The POR was
consummated on June 4, 1997.
As described in prior amendments to the Scheldule 13D filed by the
Reporting Persons, on May 1, 1997, certain of the Reporting Persons agreed to
purchase from a third party (such third party or its successor being referred to
herein as "Seller"), on an "if and when issued" basis pending the consummation
of the POR, an aggregate of 540,000 shares of Common Stock at a price of $6.25
per share. 430,368 of the shares of Common Stock included in this transaction
settled on July 23, 1997 after the consummation of the POR and the 109,632 share
balance of the shares of Common Stock included in this transaction settled on
November 3, 1997 through November 10, 1997. All of these shares are included in
the percentages stated above. 85,269 of these shares were acquired by Dickstein
& Co., 16,242 of these shares were acquired by Dickstein International and 8,121
of these shares were acquired by Mark Dickstein (See Item 6 below).
- --------
2 Percentages are based upon 3,400,000 shares of Common Stock reported
outstanding as of August 2, 1997 in the Company's Quarterly Report on Form 10-Q
for the quarter ended July 5, 1997.
-8-
<PAGE>
As described in prior amendments to this Schedule 13D, on August 20,
1997, certain of the Reporting Persons agreed to purchase from the Seller an
aggregate of up to 133,995 shares of Common Stock at a price of $7.83 per share
(including commission) in a negotiated transaction. The purchase of 22,282
shares settled on November 3, 1997 through November 5, 1997. Of these shares,
15,797 were purchased by Dickstein & Co., 2,827 were purchased by Dickstein
Internaional and 3,658 were purchased by Dickstein Focus. The shares that have
settled are included in the percentages stated above as shares beneficially
owned by the Reporting Persons. The purchase of the remaining 111,713 shares is
contingent upon the issuance of the shares to a counterparty of the Seller,
which will depend upon resolution of certain pre- petition claims in the
Company's bankruptcy reorganization ("Pre-Petition Claims"). Of the remaining
shares, up to 79,198 shares would be acquired by Dickstein & Co., up to 14,173
shares would be acquired by Dickstein International and up to 18,342 shares
would be acquired by Dickstein Focus. These shares are not included in the
percentages stated above.
As described in prior amendments to the Schedule 13D, on September 2,
1997, certain of the Reporting Persons agreed to purchase from the Seller an
aggregate of up to 30,198 shares of Common Stock at a price of $11.08 per share
(including commission) in a negotiated transaction. The purchase of 4,965 shares
settled on November 3, 1997. Of these shares , 3,485 were purchased by Dickstein
& Co., 625 were purchased by Dickstein International and 855 were purchased by
Dickstein Focus. The shares that have settled are included in the percentages
stated above as shares beneficially owned by the Reporting Persons. The purchase
of the remaining 25,233 shares is contingent upon the issuance of the shares to
a counterparty of Seller, which will depend upon resolution of certain Pre-
Petition Claims. Of the remaining shares, up to 17,113 shares would be acquired
by Dickstein & Co., up to 3,175 shares would be acquired by Dickstein
International and up to 4,345 shares would be acquired by Dickstein Focus. These
shares are not included in the percentages stated above.
Mark Kaufman, a Vice President of Dickstein Inc., owns 1,000 shares of
Common Stock.
(c) Except for the transactions described in Item 5(a) above and the
transactions set forth on Schedule II to prior amendments to the Schedule 13D,
Schedule II to Amendment No. 3 to the Schedule 13D, Schedule II to Amendment No.
4 to the Schedule 13D and Schedule II to Amendment No. 5 to the Schedule 13D,
none of the persons identified in Item 2 has effected any transactions in the
Common Stock during the past 60 days."
III. Item 6 of the Schedule 13D "Contracts, Arrangements,
Understandings or Relationships with Respect to Securities of the Issuer." is
hereby amended by adding the following paragraph:
"Certain of the Reporting Persons have authorized their clearing
broker to loan up to 81,085 shares of Common Stock beneficially owned by
them, under standard market terms and conditions, for the benefit of the
Seller. The Reporting Persons understand that the loaned shares were used
by Seller to settle a portion of the May 1997 Trade desribed in item 5(a)."
- 9 -
<PAGE>
SIGNATURE
After reasonable inquiry and to the best knowledge and belief of the
undersigned, the undersigned certifies that the information set forth in this
Statement is true, complete and correct.
Date: November 10, 1997
DICKSTEIN & CO., L.P.
By: Alan Cooper, as Vice President of Dickstein
Partners Inc., the general partner of Dickstein
Partners, L.P., the general partner of Dickstein &
Co., L.P.
/s/ Alan Cooper
--------------------
Name: Alan Cooper
DICKSTEIN FOCUS FUND L.P.
By: Alan Cooper, as Vice President of Dickstein
Partners Inc., the general partner of Partners,
L.P., the general partner of Dickstein Focus Fund
L.P.
/s/ Alan Cooper
--------------------
Name: Alan Cooper
DICKSTEIN INTERNATIONAL LIMITED
By: Alan Cooper, as Vice President of Dickstein
Partners Inc., the agent of Dickstein
International Limited
/s/ Alan Cooper
--------------------
Name: Alan Cooper
DICKSTEIN PARTNERS, L.P.
By: Alan Cooper, as Vice President of Dickstein
Partners Inc., the general partner of Dickstein
Partners, L.P.
/s/ Alan Cooper
--------------------
Name: Alan Cooper
- 10 -
<PAGE>
DICKSTEIN PARTNERS INC.
By: Alan Cooper, as Vice President
/s/ Alan Cooper
--------------------
Name: Alan Cooper
Mark Dickstein
/s/ Mark Dickstein
---------------------
Name: Mark Dickstein
- 11 -
