SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
FINAL AMENDMENT
NAL Financial Group Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
62872M106
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(CUSIP Number)
November 10, 1998
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(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 Statement and is filing this
Statement because of Rule 13d-1(b)(3) or (4), check the following box:
[ ]
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CUSIP No......................................................62872M106
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________________________________________________________________________________
1. NAME OF REPORTING PERSON..................................Conseco, Inc.
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________________________________________________________________________________
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON............35-1468632
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________________________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ X ] (b) [ ]
________________________________________________________________________________
3. SEC USE ONLY
________________________________________________________________________________
4. SOURCE OF FUNDS.....................................................N/A
________________________________________________________________________________
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
________________________________________________________________________________
6. CITIZENSHIP OR PLACE OF ORGANIZATION................Indiana Corporation
________________________________________________________________________________
Number of 7. SOLE VOTING POWER.......................................-0-
---
Shares ___________________________________________________________
Beneficially 8. SHARED VOTING POWER.....................................-0-
---
Owned By ___________________________________________________________
Each 9. SOLE DISPOSITIVE POWER..................................-0-
---
Reporting _______________________________________________________________
Person With 10. SHARED DISPOSITIVE POWER................................-0-
---
________________________________________________________________________________
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
________________________________________________________________________________
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES SHARES
[ ]
________________________________________________________________________________
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
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________________________________________________________________________________
14. TYPE OF REPORTING PERSON.........................................HC, CO
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CUSIP No......................................................62872M106
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________________________________________________________________________________
1. NAME OF REPORTING PERSON.............................CIHC, Incorporated
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S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON............51-0356511
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________________________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ X ] (b) [ ]
________________________________________________________________________________
3. SEC USE ONLY
________________________________________________________________________________
4. SOURCE OF FUNDS.....................................................N/A
---
________________________________________________________________________________
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 Corporation
________________________________________________________________________________
Number of 7. SOLE VOTING POWER..................................... -0-
---
Shares ___________________________________________________________
Beneficially 8. SHARED VOTING POWER.....................................0
----
Owned By ___________________________________________________________
Each 9. SOLE DISPOSITIVE POWER.................................-0-
----
Reporting ___________________________________________________________
Person With 10. SHARED DISPOSITIVE POWER................................0
----
________________________________________________________________________________
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
________________________________________________________________________________
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES SHARES
[ ]
________________________________________________________________________________
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
----
________________________________________________________________________________
14. TYPE OF REPORTING PERSON.........................................HC, CO
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CUSIP No......................................................62872M106
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________________________________________________________________________________
1. NAME OF REPORTING PERSON............Conseco Private Capital Group, Inc.
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S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON............35-1882445
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________________________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ X ] (b) [ ]
________________________________________________________________________________
3. SEC USE ONLY
________________________________________________________________________________
4. SOURCE OF FUNDS.....................................................N/A
---
________________________________________________________________________________
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
________________________________________________________________________________
6. CITIZENSHIP OR PLACE OF ORGANIZATION................Indiana Corporation
________________________________________________________________________________
Number of 7. SOLE VOTING POWER......................................-0-
-----
Shares ___________________________________________________________
Beneficially 8. SHARED VOTING POWER......................................0
----
Owned By ___________________________________________________________
Each 9. SOLE DISPOSITIVE POWER.................................-0-
-----
Reporting ___________________________________________________________
Person With 10. SHARED DISPOSITIVE POWER.................................0
----
________________________________________________________________________________
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
________________________________________________________________________________
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES SHARES
[ ]
________________________________________________________________________________
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
------
________________________________________________________________________________
14. TYPE OF REPORTING PERSON............................................CO
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Item 1. Security and Issuer
This Final Amendment to Schedule 13D is being filed by Conseco, Inc.
("Conseco"), CIHC, Incorporated, a wholly-owned subsidiary of Conseco ("CIHC"),
and Conseco Private Capital Group, Inc., a wholly-owned subsidiary of Conseco
("CPCG"), relating to the Common Stock (the "Common Stock"), $.15 par value, of
NAL Financial Group Inc. (the "Company"). This is the final amendment for
Conseco, CIHC and CPCG, because the Common Stock and all rights of the holders
relating thereto were canceled and extinguished under a Plan of Reorganization
pursuant to the Confirmation Order issued by the United States Bankruptcy Court
for the Southern District of Florida on October 1, 1998. On November 4, 1998,
the Company filed a Form 15 with the Commission requesting withdrawal of the
Common Stock from registration under Section 12(g) of the Securities Exchange
Act of 1934 pursuant to Reg. 12g-4(a)(1)i).
The Company's principal executive offices are located at 500 Cypress
Creek Road West, Suite 590, Ft. Lauderdale, Florida 33309.
Item 2. Identity and Background
Not amended. See Amendment No. 1 and 3 to Schedule 13D, dated June 25,
1997, and October 1, 1997, respectively, previously filed.
Item 3. Source and Amount of Funds or Other Consideration
Not applicable
Item 4. Purpose of Transaction
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The Common Stock and all rights of the holders thereof were canceled
and extinguished under a Plan of Reorganization pursuant to the Confirmation
Order issued by the United States Bankruptcy Court for the Southern District of
Florida on October 1, 1998. As part of the Plan of Reorganization, Conseco and
an unrelated creditor of the Company were issued Class A New Equity Interests
and Class B New Equity Interests of the Company. On November 4, 1998, the
Company filed with the Commission a Form 15 requesting withdrawal of the Common
Stock from registration under Section 12(g) of the Securities Exchange Act of
1934 pursuant to Reg. 12g- (4)(a)(1)(i).
Item 5. Interest in Securities of the Issuer
(a) Not applicable.
(b) Not applicable.
(c) Not applicable.
(d) Not applicable.
(e) On October 30, 1998, The Effective Date of the Plan of
Reorganization, Conseco, CIHC, and CPCG ceased to be beneficial owners of more
than five percent of the Common Stock.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer
Not amended. See Amendment No. 1 to Schedule 13D, dated June 25, 1997,
Amendment No. 2 to Schedule 13D, dated August 22, 1997, and Amendment No. 3 to
Schedule 13D, dated October 1, 1997.
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Item 7. Material to Be Filed as Exhibits
(1) Joint Filing Agreement by and among Conseco, CIHC and CPCG;
*(2) Securities Purchase Agreement, dated April 23, 1996, by and among the
Company, BSLIC and GARCO;
*(3) Warrant to purchase 500,000 shares of Common Stock issued to Conseco
April 23, 1996;
*(4) Warrant to purchase 15,000 shares of Common Stock issued to Conseco
April 23, 1996;
*(5) Stockholders' Agreement, dated April 23, 1996, by and among GARCO,
BSLIC, the Company and the shareholders named therein;
*(6) Registration Rights Agreement, dated April 23, 1996, by and among the
Company, GARCO and BSLIC;
*(7) Registration Rights Agreement, dated April 23, 1996, by and between the
Company and Conseco;
*(8) $5,000,000 9% Subordinated Convertible Debenture issued to GARCO, dated
April 23, 1996; and
*(9) $5,000,000 9% Subordinated Convertible Debenture issued to BSLIC,
dated April 23, 1996.
**(10) First Amendment to 9% Subordinated Convertible Debenture, dated April
23, 1996, issued to BSLIC.
**(11) First Amendment to 9% Subordinated Convertible Debenture, dated April
23, 1996, issued to GARCO.
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**(12) First Amendment to Warrant to Purchase Common Stock in connection
with the warrant for 500,000 shares issued to Conseco.
**(13) First Amendment to Warrant to Purchase Common Stock in connection with
the warrant for 15,000 shares issued to Conseco.
**(14) Warrant to Purchase 257,000 shares of Common Stock issued to CPCG
dated June 23, 1997.
***(15) Investment Agreement by and between Conseco and the Company dated
August 22, 1997.
***(16) Letter Agreement between Conseco and Merrill Lynch dated August 22,
1997.
***(17) Letter Agreement between Conseco and Westminster Capital, Inc. dated
August 22, 1997.
***(18) Letter Agreement between Conseco and Michael Karp dated August 22,
1997.
****(19) Certificate of Designation of Series A Preferred Stock of NAL Financial
Group Inc.
****(20) Amendment to Registration Rights Agreement by and among the Company,
BSLIC, GARCO and CIHC, dated October 1, 1997.
****(21) Consent by Stockholder to Action without a Meeting, dated October 2,
1997 and executed by CIHC.
****(22) Credit Agreement, dated as of November 22, 1996, among Conseco, the
lenders party thereto and the
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agents party thereto including NationsBank, N.A. (South) is
incorporated herein by reference to Exhibit 4.17 of Conseco's Report on
Form 8-K dated December 17, 1996.
****(23) Credit Agreement among Conseco and First Union National Bank, dated
as of September 30, 1997.
****(24) Form of 9% Subordinated Convertible Debenture is incorporated herein
by reference to Exhibit 4.2 of the Company's Registration Statement on
Form SB-2, Registration No. 33-97948, filed on October 25, 1995.
****(25) 10% Subordinated Convertible Debenture in the principal amount of
$2,250,000 payable to Bridge Rope & Co. is incorporated herein by
reference to Exhibit 4.15 of the Company's September 1996 10- QSB.
****(26) 0% Subordinated Convertible Debenture in the principal amount of
$2,750,000 payable to Kane & Co. is incorporated herein by reference to
Exhibit 4.16 of the Company's September 1996 10-QSB.
****(27) Agreement for Sale of Debentures between Michael Karp and Conseco.
****(28) Agreement for Sale of Debentures between Merrill Lynch Convertible
Fund, Inc. and Conseco.
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****(29) Agreement for Sale of Debentures between Merrill Lynch World Income
Fund, Inc. and Conseco.
****(30) Agreement for Sale of Debentures between Westminster Capital, Inc. and
Conseco.
****(31) Second Amendment to 9% Subordinated Convertible Debenture Dated April
23, 1996 by and between the Company and CIHC, dated October 1, 1997,
related to the BSLIC Debenture.
****(32) Second Amendment to 9% Subordinated Convertible Debenture Dated April
23, 1996 by and between the Company and CIHC, dated October 1, 1997,
related to the GARCO Debenture.
****(33) Amendment to Subordinated Convertible Debenture, by and between the
Company and CIHC, dated October 1, 1997, related to the Westminster
Capital, Inc. debenture.
****(34) Amendment to Subordinated Convertible Debenture, by and between the
Company and CIHC, dated October 1, 1997, related to the Kane & Co.
debenture.
****(35) Amendments to Subordinated Convertible Debentures, by and between the
Company and CIHC, dated October 1, 1997, related to the Karp
debentures.
****(36) Amendment to Subordinated Convertible Debenture, by and between the
Company and CIHC, dated October 1, 1997, related to the Bridge Rope &
Co. debenture.
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__________
* Incorporated by reference from Schedule 13D, dated April 23, 1996.
** Incorporated by reference from Amendment No. 1 to Schedule 13D, dated
June 25, 1997.
*** Incorporated by reference from Amendment No. 2 to Schedule 13D, dated
August 22, 1997.
**** Incorporated by reference from Amendment No. 3 to Schedule 13D, dated
October 1, 1997.
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SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief,
we certify that the information set forth in this statement is true, complete
and correct.
Date: November 10, 1998.
CONSECO, INC.
By:/s/James S. Adams
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James S. Adams,
Senior Vice President
CIHC, INCORPORATED
By:/s/David Hill
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David Hill,
Vice President and Assistant
Secretary
CONSECO PRIVATE CAPITAL GROUP,
INC.
By:/s/James S. Adams
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James S. Adams,
Senior Vice President
Joint Filing Agreement
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This will confirm the agreement by and among all the undersigned that
the Amendment No. 4 to Schedule 13D filed on or about this date with respect to
the beneficial ownership of the undersigned of shares of the Common Stock, $.15
par value, of NAL Financial Group, Inc. is being filed on behalf of each of the
undersigned. This agreement may be executed in two or more counterparts, each of
which shall be deemed an original, but all of which together shall constitute
one and the same instrument.
Date: November 10, 1998.
CONSECO, INC.
By:/s/James S. Adams
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James S. Adams,
Senior Vice President
CIHC, INCORPORATED
By:/s/David Hill
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David Hill,
Vice President and Assistant
Secretary
CONSECO PRIVATE CAPITAL GROUP,
INC.
By:/s/James S. Adams
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James S. Adams,
Senor Vice President
