UNITED STATES
SSECURITIES AND EXCHANGE COMMISSION
WASHINTON, DC 20549
SCHEDULE 13G
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)
LTV CORP
(Name of Issuer)
COMMON STOCK
(Title of Class of Securities)
501921100
(CUSIP Number)
Basso Securities Ltd.
1281 East Main Street
Stamford, Connecticut 06902
(203) 324-8400
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
-with copies to-
Ricardo W. Davidovich, Esq.
Tannenbaum Helpern Syracuse & Hirschtritt
900 Third Avenue - 13th Floor
New York, NY 10022
December 20, 2000
(Date of Event Which Requires Filing of this Statement)
Check the following box to designate the rule pursuant to which this Schedule
is filed:
Rule 13d-1(b)
X Rule 13d-1(c)
Rule 13d-1(d)
The information required in the remainder of this cover page shall 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 .
CUSIP No. 501921100
1. Name of Reporting Person I.R.S. Identification Nos. of Above Persons
(entities only)
Basso Securities Ltd.
2. Check the Appropriate Box If A Member Of A Group (See Instructions)
(a)
(b)
3. SEC Use Only
4. Citizen Or Place Of Organization: Delaware
Number of Shares 5. Sole Voting Power 547,450 shares of preferred security
convertible into 7,448,057.250 shares of common stock
Beneficially
Owned by 6. Shared Voting Power 0
Each
Reporting 7. Sole Dispositive Power 547,450 shares of preferred security
convertible into 7,448,057.250 shares of
common stock
Person
With 8. Shared Dispositive Power 0
9. Aggregate Amount Beneficially Owned by Each Reporting Person
547,450 shares of preferred security convertible into 7,448,057.250 shares of
common stock
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instruction)
11. Percent of Class Represented by Amount in Row 9 6.9% of Common Stock
12. Type of Reporting Person (See Instructions) CO
CUSIP No. 501921100
Item 1: Security and Issuer
1(a) Name of Issuer
LTV Corp (the "Issuer")
1(b) Address of Issuer's Principal Executive Offices
200 Public Square
Cleveland, OH 44114-2308
United States
Item 2: Identity and Background
2(a) Name of person Filing:
Basso Securities Ltd.
2(b) Address of Principal Business Office or, if none, Residence:
The address of the reporting person is:
1281 East Main Street
Stamford, CT 06902
2(c) Citizenship/ Corporation organized
Delaware, USA
2(d) Title of Class of Security
Common Stock
2(e) Cusip Number
501921100
Item 3: If this statement is filed pursuant to Rule 13d-1(b) or 13d-2(c)
promulgated under the Securities Exchange Act of 1934, check whether the
filing is a: or 13d-2(b), the person filing is a:
CUSIP No. 156708109
a. Broker or Dealer registered under Section 15 of the Act,
b. Bank as defined in Section 3(a)(6) of the Act,
c. Insurance Company as defined in Section 3(a)(19) of the Act,
d. Investment Company registered under Section 8 of the Investment Company Act,
e. Investment Adviser in accordance with Rule 13d-1(b)(1)(ii)(E),
f. Employee Benefit Plan, or Endowment Fund in accordance with
Rule 13d-1(b)(ii)(F),
g. Parent Holding Company or Control Person, in accordance with
Rule 13d-1(b)(ii)(G);
(Note: see Item 7)
h. A saving association as defined in Section 3(b) of the Federal Deposit
Insurance Act (12
U.S.C. 1813)
i. A church plan that is excluded form the definition of an investment
company under section
3(c)(14) of the Investment Company Act of 1940;
j. Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
Item 4: Ownership
4(a) Amount Beneficially Owned
As of December 29,2000, an aggregate of 547,450 shares of preferred security
convertible into 7,448,057.25 shares of common stock were beneficially owned
by Basso Securities Ltd., as an advisor (portfolio manager) to certain funds
managed by DKR Management Company Inc. (DKRMCI) (formerly, AIG International
Management Company, Inc.), as follows: (I) 284,350
preferred shares (convertible into 3,868,581.75 shares of the common stock)
were held by AIG SoundShore Holdings Ltd. (2) 133,475 preferred shares
(convertible into 1,815,927.375 shares of
the common stock) were held by AIG SoundShore Opportunity Holding Fund Ltd.
and (3) 129,625 preferred shares (convertible into 1,763,548.125 shares of
the common stock) were held by AIG SoundShore Strategic Holding Fund Ltd.
Basso Securities Ltd. disclaims beneficial ownership of
the holdings reported herein.
4(b) Percent of Class
6.9%
4(c) Number of shares as to which the person has
(i) Sole Power to vote or to direct the vote
547,450 shares of preferred security convertible into 7,448,057.250 shares
of common stock
CUSIP No. 156708109
(ii) Shared power to vote or to direct the vote
0
(iii) Sole power to dispose or to direct the disposition of
547,450 shares of preferred security convertible into 7,448,057.250 shares
of common stock
(iv) Shared power to dispose or to direct the disposition of
0
Instruction:
For computation regarding securities which represent a right to acquire an
underlying security see
Rule 13d-3(d)(1).
Item 5: Ownership of Five Percent or less of a Class
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more
than five percent of the class of securities, check the following
Instruction: Dissolution of a group requires a response to this item.
Item 6: Ownership of More than Five percent on Behalf of Another Person.
Basso Securities Ltd. has entered into an Advisory Services Agreement with
DKR Management Company Inc. (DKRMCI) (formerly, AIG International Management
Company, Inc. ("AIGMCI"), a registered investment adviser, to act as the
portfolio manager to certain funds managed by DKRMCI. As such, DKRMCI,
the investment advisor to the funds managed by Basso Securities Ltd., has
more than five percent interest in the security and has the right to receive
or the power to direct the receipt of dividends from, or the proceeds from
the sale of, such security.
Item 7: Reported on By the Parent Holding Company.
If a parent holding company has filed this schedule, pursuant to
Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit
stating the identity and the Item 3 classification of the relevant
subsidiary. If a parent holding company has filed this schedule pursuant to
Rule 13d-1(c), attach an exhibit stating the identity of each member of the
group.
Not Applicable
CUSIP No. 156708109
Item 8: Identification and Classification of Members of the Group.
If a group his filed this schedule pursuant to Rule 13d-1(b)(ii)(H), so
indicate under item 3(h) and attach an exhibit stating the identity and
Item 3 classification of each member of the group. If a group has filed
this schedule pursuant to Rule 13d-1(c), attach an exhibit stating the
identity of each member of the group.
Not Applicable
Item 9: Notice of Dissolution of Group
Notice of dissolution of a group may be furnished as an exhibit stating the
date of the dissolution and that all further filings with respect to
transactions in the security reported on will be filed, if required,
by members of he group, in their individual capacity. See item 5.
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 not acquired and are not held for the
purpose of or with the effect of changing 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.
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.
Date: January 2, 2001
/s/ Howard I. Fischer
Signature
Howard I. Fischer, President
The percentage was calculated by dividing 7,448,057.250 shares which the
preferred securities held by Basso Securities Ltd. would be exercisable
into by 107,251,057.3 (which represents the sum of 99,803,000 shares
(outstanding based on the latest information provided by Bloomberg) and
7,448,057.25 shares (representing the number of shares that would be held
by Basso Securities upon the exercise of the preferred security)).
