<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 3 )*
SEARCH CAPITAL GROUP, INC.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
- --------------------------------------------------------------------------------
(Title of Class of Securities)
2812207-10-8
-----------------------------------
(CUSIP Number)
Larry E. Levey, Hall Financial Group, Inc., 750 N. St. Paul, Suite 200,
Dallas, TX 75201 Telephone: 214/953-1155
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
October 17, 1996
-----------------------------------
(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 / /.
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.)
NOTE: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are to
be sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page 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 (however, see
the Notes).
<PAGE> 2
SCHEDULE 13D
CUSIP NO. 812207-10-8 PAGE 1 OF 5 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
HALL FINANCIAL GROUP, INC.
75-1298736
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
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
NUMBER OF
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
11,880,180
OWNED BY
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 11,180,180
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11,880,180
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
32.8
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
INCLUDED BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND SIGNATURE ATTESTATION.
<PAGE> 3
SCHEDULE 13D
CUSIP NO. 812207-10-8 PAGE 2 OF 5 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
PHOENIX/INWOOD CORPORATION
75-2430745
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
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
TEXAS
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
11,880,180
OWNED BY
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
11,880,180
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11,880,180
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
32.8
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
INCLUDED BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND SIGNATURE ATTESTATION.
<PAGE> 4
SCHEDULE 13D
CUSIP NO. 812207-10-8 PAGE 3 OF 5 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
HALL PHOENIX/INWOOD, LTD.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
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
TEXAS
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
11,880,180
OWNED BY
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
11,880,180
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11,880,180
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
32.8
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
INCLUDED BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND SIGNATURE ATTESTATION.
<PAGE> 5
SCHEDULE 13D
CUSIP NO. 812207-10-8 PAGE 4 OF 5 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CRAIG HALL
###-##-####
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
- --------------------------------------------------------------------------------
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 OF AMERICA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 100,000
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
11,880,180
OWNED BY
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 100,000
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
11,880,180
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11,880,180
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
33.0
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
INCLUDED BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND SIGNATURE ATTESTATION.
<PAGE> 6
SCHEDULE 13D
CUSIP NO. 812207-10-8 PAGE 5 OF 5 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
LARRY E. LEVEY
###-##-####
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
- --------------------------------------------------------------------------------
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 OF AMERICA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 101,300
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
18,167
OWNED BY
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 101,300
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
18,167
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
119,467
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.4
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
INCLUDED BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND SIGNATURE ATTESTATION.
<PAGE> 7
AMENDMENT NO. 3 TO SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
ITEM 1. SECURITY AND ISSUER
This Amendment No. 3 to Schedule 13D relates to the $0.01 par value
Common Stock of Search Capital Group, Inc. ("Search"), whose principal
executive offices are located at 700 N. Pearl, Suite 400, L.B. 401, Dallas,
Texas 75201- 2809.
ITEM 2. IDENTITY AND BACKGROUND
Item 2 is amended by deleting the first paragraph in its entirety and
substituting the following paragraph therefor:
This Schedule 13D is filed on behalf of Hall Financial Group,
Inc., a Delaware corporation ("HFG"), Phoenix/Inwood Corporation, a
Texas corporation ("PIC"), Hall Phoenix/Inwood, Ltd., a Texas limited
partnership ("HPI"), Craig Hall, an individual, and Larry E. Levey, an
individual (collectively, the "Reporting Persons"), each of whose
principal office is located at 750 N. St. Paul, Suite 200, Dallas,
Texas 75201. PIC is a wholly-owned subsidiary of HFG and the general
partner of HPI. The principal business of HFG, PIC and HPI is real
estate investment and property management.
Subparagraphs (a) through (f) of Item 2 are unchanged.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
Item 3 is amended by the addition of the following paragraph:
Mr. Levey and his wife acquired shares Search equity
securities with $46,573 of personal funds. In their capacity as
directors of Search, Mr. Hall and Mr. Levey have each been granted
warrants to purchase shares of the Common Stock of Search. Such
warrants were granted without cash consideration and are presently
unexercised.
ITEM 4. PURPOSE OF TRANSACTION
Item 4 is amended by deleting the prior response in its entirety and
substituting the following therefor:
HFG, PIC and HPI (the "Reporting Persons") initially acquired
equity securities of Search primarily for investment. HPI has
subsequently exercised its right to designate two directors to
Search's Board of Directors with
Amendment No. 3 to Schedule 13D Page 7
of Hall Financial Group, Inc.
<PAGE> 8
a view toward influencing management of Search. (See, Item 6.)
The Reporting Persons are presently evaluating HPI's
investment in Search in light of the management, business, operations,
financial condition and prospects of Search, the market for Search
securities and the business strategies of the Reporting Persons. As a
result of such evaluation, the Reporting Persons may determine to make
future additional purchases of the equity securities of Search (either
in the open market or in private transactions) or to decrease or
entirely dispose of their holdings of the equity securities of Search.
Based on such evaluation, the Reporting Persons may also seek to
remove, replace and/or add persons serving as directors and/or
executive officers of Search. Except as set forth herein, the
Reporting Persons have no present plans or proposals which relate to
or would result in any of the actions specified in clauses (a) through
(j) of Item 4 of Schedule 13D.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
Item 5 is amended by deleting the prior response in its entirety and
substituting the following therefor:
(a) HPI has acquired 4,138,378 shares of the Common Stock
of Search and 2,032,812 shares of the Preferred Stock of Search. Each
share of the Search Preferred Stock is convertible into two shares of
Search Common Stock. HPI also has the right to acquire 3,676,178
shares of the Common Stock of Search pursuant to certain warrants
which are presently exercisable. Therefore, HFG, PIC and HPI
beneficially own 11,880,180 shares of the Common Stock of Search.
Based upon information obtained from Search, as of the date hereof
HFG, PIC and HPI beneficially own approximately 32.8% of the Common
Stock of Search.
As the sole director, President and a significant
shareholder of HFG, Mr. Hall may be deemed to beneficially own all
shares of Search Common Stock held by any of HFG, PIC or HPI. In his
capacity as a director of Search, Mr. Hall has been granted warrants
to purchase 100,000 shares of the Common Stock of Search. Therefore,
Mr. Hall beneficially owns 11,980,180 shares of the Common Stock of
Search. Based upon information obtained from Search, as of the date
hereof Mr. Hall beneficially owns approximately 33.0% of the Common
Stock of Search.
Mr. Levey owns 1,300 shares of the Common Stock of
Search and may be deemed to beneficially own 5,931 shares of the
Common Stock and 6,118 shares of the Preferred Stock of Search held by
his spouse. In his capacity as a director of
Amendment No. 3 to Schedule 13D Page 8
of Hall Financial Group, Inc.
<PAGE> 9
Search, Mr. Levey has been granted warrants to purchase 100,000 shares
of the Common Stock of Search. Therefore, Mr. Levey beneficially owns
119,467 shares of the Common Stock of Search. Based upon information
obtained from Search, as of the date hereof Mr. Levey beneficially
owns approximately 0.4% of the Common Stock of Search.
The foregoing beneficial ownership is computed in
accordance with Rule 13d-3(d)(1) promulgated under the Exchange Act of
1934.
(b) HFG, PIC, HPI and Mr. Hall share the power to vote
and to dispose of the Common Stock of Search acquired by HPI. Mr.
Hall has the sole power to dispose of warrants to purchase 100,000
shares of the Common Stock of Search and, upon exercise, will have the
sole power to vote such shares of the Common Stock. Mr. Levey has the
sole power to vote and to dispose of 1,300 shares of the Common Stock
of Search and shares with his spouse the right to vote and to dispose
of 5,931 shares of the Common Stock and 6,118 shares of the Preferred
Stock of Search. Mr. Levey also has the sole power to dispose of
warrants to purchase 100,000 shares of the Common Stock of Search and,
upon exercise, will have the sole power to vote such shares of the
Common Stock.
Mr. Levey's spouse, Linda Levey, is a self-employed
clinical social worker whose business address is 12740 Hillcrest,
Suite 214, Dallas, Texas. Mrs. Levey has not, during the last five
years, been convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors) or been subject to a judgment,
decree or final order enjoining future violations of, or prohibiting
or mandating activities subject to, federal or state securities law or
been found in violation with respect to such laws. Mrs. Levey is
citizen of the United States.
(c) Not applicable.
(d) No other person is known to have the right to receive
or the power to direct the receipt of dividends from, or the proceeds
from the sale of, such securities.
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER
Item 6 is amended by the addition of the following paragraph:
HPI has requested that Search effect the registration under
the Securities Act of its (i) 4,138,378 shares of the Common Stock of
Search, (ii) 2,032,812 shares of the Preferred Stock
Amendment No. 3 to Schedule 13D Page 9
of Hall Financial Group, Inc.
<PAGE> 10
of Search, (iii) 676,178 Plan Warrants for the purchase of Common
Stock of Search, and (iv) 4,741,802 shares of the Common Stock of
Search issuable to HPI upon conversion of the Preferred Stock and
exercise of the Plan Warrants. HPI has also designated Mr. Hall and
Mr. Levey for election to the Search of Board of Directors.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Not applicable.
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: October 17, 1996
HALL FINANCIAL GROUP, INC.
By: /s/ LARRY E. LEVEY
-------------------------------------
Larry E. Levey, Senior Vice President
PHOENIX/INWOOD CORPORATION
By: /s/ LARRY E. LEVEY
-------------------------------------
Larry E.Levey, Vice President
HALL PHOENIX/INWOOD, LTD.
By: PHOENIX/INWOOD CORPORATION
By: /s/ LARRY E. LEVEY
-------------------------------------
Larry E. Levey, Vice President
/s/ CRAIG HALL
-------------------------------------
Craig Hall
/s/ LARRY E. LEVEY
-------------------------------------
Larry E. Levey
Amendment No. 3 to Schedule 13D Page 10
of Hall Financial Group, Inc.
