SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
SCHEDULE l3D
Under the Securities Exchange Act of 1934
(Amendment No. __)*
International Technology Corporation
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
US 4604651079
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(CUSIP Number)
with a copy to:
Krista L. Ward George J. Mazin
Stark Investments Lowenstein, Sandler, Kohl,
150 West Market Street Fisher & Boylan, P.A.
Mequon, WI 53092 65 Livingston Avenue
(414) 241-1810 Roseland, New Jersey 07068
(201) 992-8700
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(Name, Address and Telephone Number
of Person Authorized to Receive
Notices and Communications)
September 19, 1996
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(Date of Event which Requires Filing
of this Statement)
If the filing person has previously filed a statement on Schedule l3G 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 [ ].
Note: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule l3d-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).
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<PAGE>
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CUSIP NO. US 4604651079
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1) Names of Reporting Persons (S.S. or I.R.S. Identification Nos. of Above
Persons):
Michael A. Roth and Brian J. Stark (filing as joint filers pursuant to Rule
13(d)1(f)(1))
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2) Check the Appropriate Box if a Member of a Group (See Instructions):
(a) Not
(b) Applicable
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3) SEC Use Only
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4) Source of Funds (See Instructions):WC
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5) Check if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d)
or 2(e):
Not Applicable
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6) Citizenship or Place of Organization:
Wisconsin
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Number of 7) Sole Voting Power: 0
Share Beneficially -----------------------------------------------
Owned by 8) Shared Voting Power: 2,213,602*
Each Reporting -----------------------------------------------
Person With: 9) Sole Dispositive Power: 0
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10) Shared Dispositive Power: 2,213,602*
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11) Aggregate Amount Beneficially Owned by Each Reporting Person:
2,213,602*
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12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions):
Not Applicable
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13) Percent of Class Represented by Amount in Row (11):
5.75*
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14) Type of Reporting Person (See Instructions): IN
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* Includes: 1,878,963 Shares beneficially owned by Reliant Trading upon
the conversion of 438,928 shares of the Issuer's preferred stock and
334,639 Shares beneficially owned by Shepherd Trading Limited upon the
conversion of 78,172 shares of the Issuer's preferred stock. See Item 2
and Item 5 for additional details.
Item 1: Security and Issuer:
This statement relates to the Common Stock of International Technology
Corporation ("Shares"). The issuer has principal executive offices located at
23456 Hawthorne Boulevard, Suite 220, Torrance, California 90505.
Item 2: Identity and Background:
1.
a) Name: Brian J. Stark
b) Residence or Business Address: 1500 West Market Street
Mequon, WI 53092
c) Occupation: Investment Fund Manager
Staro Asset Management, L.L.C., Stark & Roth,
Inc., Staro Partners
1500 West Market Street
Mequon, WI 53092
d) Convictions: none
e) Civil Proceedings: none
f) Citizenship: United States
2.
a) Name: Michael A. Roth
b) Residence or Business Address: 1500 West Market Street
Mequon, WI 53092
c) Occupation: Investment Fund Manager
Staro Asset Management, L.L.C.,
Stark & Roth, Inc., Staro Partners
1500 West Market Street
Mequon, WI 53092
d) Convictions: none
e) Civil Proceedings: none
f) Citizenship: United States
3.
a) Name: Staro Partners
b) State of Organization: Wisconsin
c) Principal Business: Securities Trading
d) Address of principal business: 1500 West Market Street
Mequon, WI 53092
e) Address of Principal Office: same
f) Convictions: none
g) Civil proceedings: none
4.
a) Name: Reliant Trading
b) State of Organization: Wisconsin
c) Principal Business: Securities Trading
d) Address of principal business: 1500 West Market Street
Mequon, WI 53092
e) Address of Principal Office: same
f) Convictions: none
g) Civil proceedings: none
5.
a) Name: Shepherd Trading Limited
b) State of Organization: British Virgin Islands
c) Principal Business: Securities Trading
Address of principal business: c/o International Fund
Administration, Ltd.
48 Par-La Ville Road, Suite 464
Hamilton, HM 11 Bermuda
d) Address of Principal Office: same
e) Convictions: none
f) Civil proceedings: none
Item 3: Source and Amount of Funds or Other Consideration
All funds used by Reliant Trading to purchase Shares acquired by
Reliant Trading, upon conversion of the Issuer's preferred stock, were obtained
from the capital contributed by the limited partners of Stark Investments, L.P.
and general margin financing to Reliant Trading from brokers. The amount of
funds used in making the purchases was $8,036,619. The funds used by Shepherd
Trading Limited to purchase the Shares acquired by Shepherd Trading Limited,
upon conversion of the Issuer's preferred stock, were obtained from the capital
contributed by the shareholders of Shepherd Fund Limited. The amount of funds
used in making the purchase was $1,417,976.
Item 4: Purpose of Transaction
The acquisition of the Shares by Reliant Trading and by Shepherd
Trading Limited are solely for investment purposes. Further acquisitions, sales
or short sales of securities of the issuer may be made for investment purposes,
however, neither reporting person has present plans or intentions which relate
to or would result in any of the transactions required to be described in Item 4
of Schedule 13D.
Item 5: Interest in Securities of the Issuer
Based upon the information contained in International Technology
Corporation's quarterly report on Form 10-Q for the quarterly period ending
September 30, 1996, there were issued and outstanding 36,250,511 Shares. Messrs.
Stark and Roth beneficially own 2,213,602 Shares or 5.75% of the Shares.
1,878,963 of such Shares are held by Reliant Trading. Messrs. Stark and Roth
have shared power to vote or direct the vote and shared power to dispose or
direct the disposition of the1,878,963 Shares by virtue of their position as
members of STARO ASSET MANAGEMENT, L.L.C., the managing partner of Reliant
Trading. 334,639 Shares are held by Shepherd Trading Limited. Messrs. Stark and
Roth have shared power to vote or direct the vote and shared power to dispose or
direct the disposition of the 334,639 Shares by virtue of their position as
investment manager of Shepherd Trading Limited.
The following Table details the transactions by Reliant Trading and
Shepherd Trading Limited in shares of International Technology Corporation
during the past 60 days:
Shepherd Trading Limited
Date Quantity Price Transaction Type
7/2/96 4,922 17.75 Open Mkt. Purchases
9/4/96 7,500 18.25 Open Mkt. Purchase
9/4/96 200 18.25 Open Mkt. Purchase
9/9/96 1,850 18.50 Open Mkt. Purchase
9/9/96 1,200 18.50 Open Mkt. Purchase
9/9/96 3,000 2.87 Open Mkt. Sale
9/18/96 152,000 2.50 Open Mkt. Purchase
9/18/96 71,000 18.50 Open Mkt. Sale
9/19/96 62,500 18.12 Open Mkt. Purchase
9/19/96 8,500 18.00 Open Mkt. Purchase
9/19/96 152,000 2.50 Open Mkt. Sale
10/1/96 5,500 2.87 Open Mkt. Sale
10/1/96 7,100 18.37 Open Mkt. Purchase
10/3/96 7,606 2.87 Open Mkt. Sale
Reliant Trading
Date Quantity Price Transaction Type
7/2/96 24,378 17.75 Open Mkt. Purchase
9/4/96 7,500 18.25 Open Mkt. Purchase
9/9/96 3,000 2.87 Open Mkt. Sale
10/1/96 7,100 18.37 Open Mkt. Purchase
10/1/96 5,500 2.87 Open Mkt. Sale
10/3/96 2,394 2.87 Open Mkt. Sale
No other entity controlled by the reporting persons has traded Payco
American Corporation shares within the past 60 days.
Item 6: Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer.
See Item 2.
Item 7: Material to be filed as exhibits.
Exhibit 1: Agreement as to joint filing.
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EXHIBIT 1
AGREEMENT AS TO JOINT FILING
Dated November 27, 1996
The undersigned hereby agree that the Schedule 13D with respect to
International Technology Corporation dated as of the date hereof is filed on
behalf of each of the undersigned jointly pursuant to Rule 13d-1(f)(1).
/s/Brian J. Stark
______________________________
Brian J. Stark
/s/Michael A. Roth
______________________________
Michael A. Roth
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SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge and
belief, the undersigned hereby certifies that the information set forth in this
statement is true, complete and correct.
November 27, 1996
/s/Brian J. Stark
______________________________
Brian J. Stark
/s/ Michael A. Roth
_______________________________
Michael A. Roth
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL
CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001).
