UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Munsingwear, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $.01 per share
- --------------------------------------------------------------------------------
(Title of Class of Securities)
62632020
-------------------------------------------------------
(CUSIP Number)
Francisco A. Lorenzo
333 Clay Street
Suite 4040
Houston, TX 77002
(713) 658-9594
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
January 15, 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 |X|.
<PAGE>
<TABLE>
<CAPTION>
SCHEDULE 13D
- ---------------------------------------------------------------------------------------------------------------------------------
CUSIP No. 62632020 Page 2 of 18 Pages
--------
- ---------------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Francisco A. Lorenzo
(Intentionally Omitted)
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
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
- ------ --------------------------------------------------------------------------------------------------------------------------
------ ------------------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES ------ ------------------------------------------------------------------------------------------------------
------ ------------------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 114,700 shares
------ ------------------------------------------------------------------------------------------------------
EACH ------ ------------------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
------ ------------------------------------------------------------------------------------------------------
PERSON ------ ------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
114,700 shares
------ ------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
114,700 shares
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.66%
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- ------ --------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
SCHEDULE 13D
- ---------------------------------------------------------------------------------------------------------------------------------
CUSIP No. 62632020 Page 3 of 18 Pages
--------
- ---------------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Savoy Partners, Inc.
(Intentionally Omitted)
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(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
- ------ --------------------------------------------------------------------------------------------------------------------------
------ ------------------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES ------ ------------------------------------------------------------------------------------------------------
------ ------------------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 52,500 shares
------ ------------------------------------------------------------------------------------------------------
EACH ------ ------------------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
------ ------------------------------------------------------------------------------------------------------
PERSON ------ ------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
52,500 shares
------ ------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
52,500 shares
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.59%
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- ------ --------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
SCHEDULE 13D
- ---------------------------------------------------------------------------------------------------------------------------------
CUSIP No. 62632020 Page 4 of 18 Pages
--------
- ---------------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Jet Capital Corporation
(Intentionally Omitted)
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(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
- ------ --------------------------------------------------------------------------------------------------------------------------
------ ------------------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES ------ ------------------------------------------------------------------------------------------------------
------ ------------------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 42,200 shares
------ ------------------------------------------------------------------------------------------------------
EACH ------ ------------------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
------ ------------------------------------------------------------------------------------------------------
PERSON ------ ------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
42,200 shares
------ ------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
42,200 shares
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.08%
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- ------ --------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
SCHEDULE 13D
- ---------------------------------------------------------------------------------------------------------------------------------
CUSIP No. 62632020 Page 5 of 18 Pages
--------
- ---------------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Trust for Benefit of Nicole Patricia Lorenzo - 1992 Trust
(Intentionally Omitted)
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
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
- ------ --------------------------------------------------------------------------------------------------------------------------
------ ------------------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES ------ ------------------------------------------------------------------------------------------------------
------ ------------------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 5,000 shares
------ ------------------------------------------------------------------------------------------------------
EACH ------ ------------------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
------ ------------------------------------------------------------------------------------------------------
PERSON ------ ------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
5,000 shares
------ ------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,000 shares
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.25%
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- ------ --------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
SCHEDULE 13D
- ---------------------------------------------------------------------------------------------------------------------------------
CUSIP No. 62632020 Page 6 of 18 Pages
--------
- ---------------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Francisco A. Lorenzo, As Custodian for Mercedes Ana Lorenzo
(Intentionally Omitted)
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
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
- ------ --------------------------------------------------------------------------------------------------------------------------
------ ------------------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES ------ ------------------------------------------------------------------------------------------------------
------ ------------------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 5,000 shares
------ ------------------------------------------------------------------------------------------------------
EACH ------ ------------------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
------ ------------------------------------------------------------------------------------------------------
PERSON ------ ------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
5,000 shares
------ ------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,000 shares
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.25%
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- ------ --------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
SCHEDULE 13D
- ---------------------------------------------------------------------------------------------------------------------------------
CUSIP No. 62632020 Page 7 of 18 Pages
--------
- ---------------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Francisco A. Lorenzo, As Custodian for Carolina Grace Lorenzo
(Intentionally Omitted)
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
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
- ------ --------------------------------------------------------------------------------------------------------------------------
------ ------------------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES ------ ------------------------------------------------------------------------------------------------------
------ ------------------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 5,000 shares
------ ------------------------------------------------------------------------------------------------------
EACH ------ ------------------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
------ ------------------------------------------------------------------------------------------------------
PERSON ------ ------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
5,000 shares
------ ------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,000 shares
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.25%
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- ------ --------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
SCHEDULE 13D
- ---------------------------------------------------------------------------------------------------------------------------------
CUSIP No. 62632020 Page 8 of 18 Pages
--------
- ---------------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Francisco A. Lorenzo, As Custodian for Timon Francis Lorenzo
(Intentionally Omitted)
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
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
- ------ --------------------------------------------------------------------------------------------------------------------------
------ ------------------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES ------ ------------------------------------------------------------------------------------------------------
------ ------------------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 5,000 shares
------ ------------------------------------------------------------------------------------------------------
EACH ------ ------------------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
------ ------------------------------------------------------------------------------------------------------
PERSON ------ ------------------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
5,000 shares
------ ------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,000 shares
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_|
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.25%
- ------ --------------------------------------------------------------------------------------------------------------------------
- ------ --------------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- ------ --------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
Page 9 of 18 Pages
Item 1. Security and Issuer
The class of equity securities to which this statement relates is the
common stock, par value $.01 per share (the "Common Stock"), of Munsingwear,
Inc., a Delaware corporation (the "Issuer"). The address of the Issuer's
principal executive offices is 8000 West 78th Street, Suite 400, Minneapolis,
Minnesota 55439.
Item 2. Identity and Background
This statement is being filed by: Francisco A. Lorenzo; Savoy Partners,
Inc.; Jet Capital Corporation; Trust for Benefit of Nicole Patricia Lorenzo -
1992 Trust; Francisco A. Lorenzo, as Custodian for Mercedes Ana Lorenzo;
Francisco A. Lorenzo, as Custodian for Carolina Grace Lorenzo; and Francisco A.
Lorenzo, as Custodian for Timon Francis Lorenzo (collectively, the "Reporting
Persons").
The principal occupation of Francisco A. Lorenzo is Chairman of the
Board of Savoy Capital, Inc., a private investment banking company, whose
address is 333 Clay Street, Suite 4040, Houston, Texas, 77002. Savoy Partners,
Inc. and Jet Capital Corporation are private investment companies controlled by
Mr. Lorenzo.
Annexed hereto and incorporated herein by reference are Schedule A,
which sets forth the addresses and citizenship or state or incorporation of each
of the Reporting Persons, and Schedule B, which sets forth certain information
required by Item 2 of Schedule 13D with respect to the directors and officers of
Savoy Partners, Inc. and Jet Capital Corporation and with respect to the
trustees of the Trust for Benefit of Nicole Patricia Lorenzo - 1992 Trust.
During the last five years, none of the Reporting Persons, nor (to the
knowledge of the Reporting Persons) any of the other persons referred to on
Schedule B, (i) has been convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors), or (ii) was a party to a civil proceeding
of a judicial or administrative body of competent jurisdiction and as a result
of such proceeding was or is subject to judgment, decree, or final order
enjoining future violations of, or prohibiting or mandating activities subject
to, federal or state securities laws or finding any violation with respect to
such laws.
Information with respect to each of the Reporting Persons is given
solely by such Reporting Person, and no Reporting Person has responsibility for
the accuracy or completeness of information filed by any other Reporting Person.
The filing of this Schedule 13D (including all amendments thereto) does
not constitute an admission by any of the persons making this filing that such
persons are a "group" for purposes of Section 13(d)(3) of the Securities and
Exchange Act of 1934 (the "Act").
Item 3. Source and Amount of Funds
The source and amount of funds (excluding commissions) used by the
Reporting Persons to purchase the shares of Common Stock reported in Item 5
below were as follows:
<TABLE>
<CAPTION>
Name Source of Funds Amount
- ---- --------------- ------
<S> <C> <C>
Savoy Partners, Inc. Working Capital $401,300
Jet Capital Corporation Working Capital $335,000
</TABLE>
<PAGE>
Page 10 of 18 Pages
<TABLE>
<CAPTION>
Name Source of Funds Amount
- ---- --------------- ------
<S> <C> <C>
Trust for Benefit of Nicole Patricia Trust Funds $40,600
Lorenzo - 1992 Trust
Francisco A. Lorenzo, As Custodian Custodial Funds $39,400
for Mercedes Ana Lorenzo
Francisco A. Lorenzo, As Custodian Custodial Funds $39,500
for Carolina Grace Lorenzo
Francisco A. Lorenzo, As Custodian Custodial Funds $40,200
for Timon Francis Lorenzo
</TABLE>
Item 4. Purpose of Transaction
The Reporting Persons purchased the shares of Common Stock referred to
above for investment. Depending upon the availability of additional shares of
Common Stock at prices and on other terms that would make the purchase of such
shares desirable and upon other relevant factors, including those referred to in
this Item 4, the Reporting Persons may acquire additional shares of Common Stock
through open market or private transactions, including direct purchases from the
Issuer.
The Reporting Persons have considered various means by which the value
of the Common Stock could be enhanced, and have had preliminary discussions with
the management of the Issuer and with certain significant shareholders regarding
such matters and intend to seek such further discussions as the Reporting
Persons deem appropriate. Any determination by the Reporting Persons regarding
any such matters will depend on the results of such discussions and the
Reporting Persons' evaluation of other relevant factors, including those
referred to in this Item 4.
The Reporting Persons have determined to seek representation on the
Board of Directors of the Issuer and intend to pursue that objective in meetings
with the management of the Issuer or significant shareholders, as the Reporting
Persons deem appropriate.
Except as set forth above, none of the Reporting Persons has any
present plans or proposals which relate to or would result in any of the
following: (a) the acquisition by any person of additional securities of the
Issuer, or the disposition of securities of the Issuer; (b) an extraordinary
corporate transaction, such as a merger, reorganization or liquidation,
involving the Issuer; (c) a sale or transfer of a material amount of assets of
the Issuer; (d) any change in the present Board of Directors or management of
the Issuer, including any plans or proposals to change the number or term of
directors or to fill any existing vacancies on the board; (e) any material
change in the present capitalization or dividend policy of the Issuer; (f) any
other material change in the Issuer's business or corporate structure; (g)
changes in the Issuer's charter, bylaws or instruments corresponding thereto or
other actions which may impede the acquisition or control of the Issuer by any
person; (h) causing a class of securities of the Issuer to be delisted from a
national securities exchange or to cease to be authorized to be quoted in an
inter-dealer quotation system of a registered national securities association;
(i) a class of equity securities of the Issuer becoming eligible for termination
of registration pursuant to Section 12(g)(4) of the Act; or (j) any action
similar to any of those enumerated above.
<PAGE>
Page 11 of 18 Pages
Notwithstanding anything contained herein, each of the Reporting
Persons intends to review on a continuing basis its interest in the Issuer and
reserves the right, depending on its evaluation of relevant factors, including
without limitation, the Issuer's financial condition, results of operations,
business and prospects, other developments concerning the Issuer, current and
anticipated future trading prices of the Common Stock, other opportunities
available to such Reporting Person, conditions in the securities markets and
general economic and industry conditions and other business or legal
considerations applicable to the Issuer or such Reporting Person, to purchase
additional shares of Common Stock or to dispose of all or a portion of its
holdings of Common Stock, or to change its intention with respect to any or all
of the matters referred to in this Item 4.
Item 5. Interest in Securities of the Company
(a) and (b) The aggregate number of shares and percentage of the
outstanding shares of Common Stock (based on the number of shares reported by
the Issuer to be outstanding at October 7, 1995) owned by each of the Reporting
Persons is as follows:
<TABLE>
<CAPTION>
Name Number of Shares Percentage
- ---- ---------------- ----------
<S> <C> <C>
Savoy Partners, Inc. 52,500 shares(1) 2.59%(1)
Jet Capital Corporation 42,200 shares(1) 2.08%(1)
Trust for Benefit of Nicole Patricia 5,000 shares(1) 0.25%(1)
Lorenzo - 1992 Trust
Francisco A. Lorenzo, As Custodian for 5,000 shares 0.25%
Mercedes Ana Lorenzo
Francisco A. Lorenzo, As Custodian for 5,000 shares 0.25%
Carolina Grace Lorenzo
Francisco A. Lorenzo, As Custodian for 5,000 shares 0.25%
Timon Francis Lorenzo
<FN>
(1) Francisco A. Lorenzo shares voting and dispositive power with respect to the
shares of Common Stock owned by Savoy Partners, Inc., Jet Capital
Corporation and the Trust for Benefit of Nicole Patricia Lorenzo - 1992
Trust. Accordingly, Mr. Lorenzo may be deemed to be the beneficial owner of
all of the 114,700 shares owned by the Reporting Persons, representing 5.66%
of the outstanding shares of Common Stock. Schedule B annexed hereto and
incorporated herein by reference sets forth certain information as to the
person with whom Mr. Lorenzo shares voting or dispositive power with respect
to shares of Common Stock owned by the Trust for Benefit of Nicole Patricia
Lorenzo - 1992 Trust.
</FN>
</TABLE>
Except as set forth above, neither any Reporting Person nor (to the
knowledge of the Reporting Persons) any person referred to on Schedule B
beneficially owns any shares of Common Stock.
<PAGE>
Page 12 of 18 Pages
(c) Certain information concerning the transactions in the Common Stock
effected during the past 60 days by the Reporting Persons is as follows:
<TABLE>
<CAPTION>
Name Date Number of Shares Purchase or Sale Price per Share
---- ---- ---------------- ---------------- ---------------
<S> <C> <C> <C> <C>
Savoy Partners, Inc. 12/22/95 200 Purchase 6.375
01/15/96 1,800 Purchase 7.375
01/16/96 200 Purchase 7.250
01/17/96 300 Purchase 7.500
01/22/96 11,500 Purchase 7.500
Jet Capital Corporation 01/04/96 2,400 Purchase 6.625
01/05/96 100 Purchase 6.625
01/10/96 4,500 Purchase 7.125
</TABLE>
All of such transactions were effected on the New York Stock Exchange.
(d) No other person has the right to receive or the power to direct the
receipt of dividends from, or the profits from the sale of, the shares of Common
Stock owned by the Reporting Persons.
Item 6. Contracts, Arrangements, Understandings or Relationships With Respect
to Securities of the Issuer
Except as may be elsewhere described in this statement on Schedule 13D,
none of the Reporting Persons, nor (to the knowledge of the Reporting Persons)
any person referred to on Schedule B, has any contracts, arrangements,
understandings or relationships (legal or otherwise) with respect to any
securities of the Issuer, including but not limited to transfer or voting of any
of the securities, finder's fees, joint ventures, loan or option agreements,
puts or calls, guarantees of profits, division of profits or loss, or the giving
or withholding of proxies.
Item 7. Material To Be Filed as Exhibits
<TABLE>
<CAPTION>
Exhibit Number Title
-------------- -----
<S> <C> <C>
1 Joint Filing Agreement
</TABLE>
<PAGE>
Page 13 of 18 Pages
SIGNATURES
After reasonable inquiry and to the best knowledge and belief of each
person or entity set forth below, each such person or entity certifies that the
information set forth in this Statement is true, complete, and correct.
Dated: January 24, 1996
/s/ Francisco A. Lorenzo
- ------------------------------------
Francisco A. Lorenzo
SAVOY PARTNERS, INC.
By /s/ Francisco A. Lorenzo
----------------------------------
Francisco A. Lorenzo
President
JET CAPITAL CORPORATION
By /s/ Francisco A. Lorenzo
----------------------------------
Francisco A. Lorenzo
President
TRUST FOR BENEFIT OF
NICOLE PATRICIA LORENZO - 1992 TRUST
By /s/ Francisco A. Lorenzo
----------------------------------
Francisco A. Lorenzo
Trustee
<PAGE>
Page 14 of 18 Pages
FRANCISCO A. LORENZO, AS CUSTODIAN
FOR MERCEDES ANA LORENZO
/s/ Francisco A. Lorenzo
- ------------------------------------
Francisco A. Lorenzo
FRANCISCO A. LORENZO, AS CUSTODIAN
FOR CAROLINA GRACE LORENZO
/s/ Francisco A. Lorenzo
- ------------------------------------
Francisco A. Lorenzo
FRANCISCO A. LORENZO, AS CUSTODIAN
FOR TIMON FRANCIS LORENZO
/s/ Francisco A. Lorenzo
- ------------------------------------
Francisco A. Lorenzo
<PAGE>
Page 15 of 18 Pages
SCHEDULE A
Certain Information
Regarding Reporting Persons
---------------------------
<TABLE>
<CAPTION>
Citizenship
or
Name and Address State of Incorporation
- ---------------- ----------------------
<S> <C>
Francisco A. Lorenzo United States
333 Clay Street
Houston, TX 77002
Savoy Partners, Inc. Delaware
333 Clay Street
Houston, TX 77002
Jet Capital Corporation Delaware
333 Clay Street
Houston, TX 77002
Trust for Benefit of Nicole Patricia Lorenzo - 1992 Trust United States
c/o Savoy Capital, Inc.
333 Clay Street
Houston, TX 77002
Francisco A. Lorenzo, As Custodian for Mercedes Ana Lorenzo United States
c/o Savoy Capital, Inc.
333 Clay Street
Houston, TX 77002
Francisco A. Lorenzo, As Custodian for Carolina Grace Lorenzo United States
c/o Savoy Capital, Inc.
333 Clay Street
Houston, TX 77002
Francisco A. Lorenzo, As Custodian for Timon Francis Lorenzo United States
c/o Savoy Capital, Inc.
333 Clay Street
Houston, TX 77002
</TABLE>
<PAGE>
Page 16 of 18 Pages
SCHEDULE B
Certain Information Regarding:
A. Directors and Officers of Savoy Partners, Inc. and Jet Capital Corporation
--------------------------------------------------------------------------
Gregory D. Aretakis is Vice President and director of each of Savoy
Partners, Inc. and Jet Capital Corporation. Mr. Aretakis, whose principal
occupation is Managing Director of Savoy Capital, Inc., is a U.S. citizen, and
his address is 333 Clay Street, Houston, Texas 77002.
William E. Johnson is a director of Savoy Partners, Inc. Mr. Johnson,
whose principal occupation is private investor, is a U.S. citizen, and his
address is P.O. Box 1285, Aspen, Colorado 81611.
Mildred Jones is Secretary and Treasurer of each of Savoy Partners,
Inc. and Jet Capital Corporation. Ms. Jones, whose principal occupation is Vice
President of Savoy Capital, Inc., is a U.S. citizen, and her address is 333 Clay
Street, Houston, Texas 77002.
Francisco A. Lorenzo is President and Managing Partner of Savoy
Partners, Inc., and is President of Jet Capital Corporation.
B. Trustees of Trust for Benefit of Nicole Patricia Lorenzo - 1992 Trust
---------------------------------------------------------------------
Francisco A. Lorenzo and his wife, Sharon N. Lorenzo, are co-trustees
of the Trust for Benefit of Nicole Patricia Lorenzo - 1992 Trust. Ms. Lorenzo is
a U.S. citizen, and her address is c/o Savoy Capital, Inc., 333 Clay Street,
Houston, Texas 77002.
<PAGE>
Page 17 of 18 Pages
EXHIBIT 1
JOINT FILING AGREEMENT
Each of the undersigned hereby agrees that the Schedule 13D, to which
this Agreement is attached as Exhibit 1, and all amendments thereto, may be
filed on behalf of each such person.
Dated: January 24, 1996
/s/ Francisco A. Lorenzo
- ------------------------------------
Francisco A. Lorenzo
SAVOY PARTNERS, INC.
By /s/ Francisco A. Lorenzo
----------------------------------
Francisco A. Lorenzo
President
JET CAPITAL CORPORATION
By /s/ Francisco A. Lorenzo
----------------------------------
Francisco A. Lorenzo
President
TRUST FOR BENEFIT OF
NICOLE PATRICIA LORENZO - 1992 TRUST
By /s/ Francisco A. Lorenzo
----------------------------------
Francisco A. Lorenzo
Trustee
<PAGE>
Page 18 of 18 Pages
FRANCISCO A. LORENZO, AS CUSTODIAN
FOR MERCEDES ANA LORENZO
/s/ Francisco A. Lorenzo
- ------------------------------------
Francisco A. Lorenzo
FRANCISCO A. LORENZO, AS CUSTODIAN
FOR CAROLINA GRACE LORENZO
/s/ Francisco A. Lorenzo
- ------------------------------------
Francisco A. Lorenzo
FRANCISCO A. LORENZO, AS CUSTODIAN
FOR TIMON FRANCIS LORENZO
/s/ Francisco A. Lorenzo
- ------------------------------------
Francisco A. Lorenzo
