<PAGE> 1
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OMB APPROVAL
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OMB Number 3235-0145
Expires: August 31, 1991
Estimated average burden hours
per response........ 14.90
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. )*
Capsure Holdings Corp.
- --------------------------------------------------------------------------------
(NAME OF ISSUER)
Common Stock, par value $.05 per share
- --------------------------------------------------------------------------------
(TITLE OF CLASS OF SECURITIES)
140673104
- --------------------------------------------------------------------------------
(CUSIP NUMBER)
Susan Obuchowski
Two N. Riverside Plaza, Suite 600, Chicago, IL 60606 (312) 466-4010
- --------------------------------------------------------------------------------
(NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON AUTHORIZED TO RECEIVE NOTICES AND
COMMUNICATIONS)
September 24, 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]. (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 1 of 21
<PAGE> 2
CUSIP No. 140673104 13D Page 2 of 21
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Samuel Zell
###-##-####
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [x]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
| 7 SOLE VOTING POWER
| 658,451
NUMBER OF |-------------------------------------------------------------
SHARES | 8 SHARED VOTING POWER
BENEFICIALLY |
OWNED BY |-------------------------------------------------------------
EACH REPORTING | 9 SOLE DISPOSITIVE POWER
PERSON WITH | 658,451
|-------------------------------------------------------------
| 10 SHARED DISPOSITIVE POWER
|
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,118,733
- --------------------------------------------------------------------------------
12 CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 3
CUSIP No. 140673104 13D Page 3 of 21
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Samuel Zell Revocable Trust U/T/A 01/17/90
###-##-####
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [x]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
- --------------------------------------------------------------------------------
| 7 SOLE VOTING POWER
| 608,451
NUMBER OF |-------------------------------------------------------------
SHARES | 8 SHARED VOTING POWER
BENEFICIALLY |
OWNED BY |-------------------------------------------------------------
EACH REPORTING | 9 SOLE DISPOSITIVE POWER
PERSON WITH | 608,451
|-------------------------------------------------------------
| 10 SHARED DISPOSITIVE POWER
|
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
608,451
- --------------------------------------------------------------------------------
12 CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.9%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
00
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 4
CUSIP No. 140673104 13D Page 4 of 21
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Alphabet Partners, an Illinois general partnership
36-3002855
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [x]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
- --------------------------------------------------------------------------------
| 7 SOLE VOTING POWER
| 730,141
NUMBER OF |-------------------------------------------------------------
SHARES | 8 SHARED VOTING POWER
BENEFICIALLY |
OWNED BY |-------------------------------------------------------------
EACH REPORTING | 9 SOLE DISPOSITIVE POWER
PERSON WITH | 730,141
|-------------------------------------------------------------
| 10 SHARED DISPOSITIVE POWER
|
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
730,141
- --------------------------------------------------------------------------------
12 CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.7%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 5
CUSIP No. 140673104 13D Page 5 of 21
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ZFT Partnership, an Illinois general partnership
36-3022976
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [x]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
- --------------------------------------------------------------------------------
| 7 SOLE VOTING POWER
| 730,141
NUMBER OF |-------------------------------------------------------------
SHARES | 8 SHARED VOTING POWER
BENEFICIALLY |
OWNED BY |-------------------------------------------------------------
EACH REPORTING | 9 SOLE DISPOSITIVE POWER
PERSON WITH | 730,141
|-------------------------------------------------------------
| 10 SHARED DISPOSITIVE POWER
|
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
730,141
- --------------------------------------------------------------------------------
12 CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.7%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 6
CUSIP No. 140673104 13D Page 6 of 21
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Ann Lurie
###-##-####
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [x]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
| 7 SOLE VOTING POWER
| 973,520
NUMBER OF |-------------------------------------------------------------
SHARES | 8 SHARED VOTING POWER
BENEFICIALLY |
OWNED BY |-------------------------------------------------------------
EACH REPORTING | 9 SOLE DISPOSITIVE POWER
PERSON WITH | 973,520
|-------------------------------------------------------------
| 10 SHARED DISPOSITIVE POWER
|
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
973,520
- --------------------------------------------------------------------------------
12 CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 7
CUSIP No. 140673104 13D Page 7 of 21
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Ann Lurie Revocable Trust U/T/A 12/22/89
###-##-####
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [x]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
- --------------------------------------------------------------------------------
| 7 SOLE VOTING POWER
| 486,760
NUMBER OF |-------------------------------------------------------------
SHARES | 8 SHARED VOTING POWER
BENEFICIALLY |
OWNED BY |-------------------------------------------------------------
EACH REPORTING | 9 SOLE DISPOSITIVE POWER
PERSON WITH | 486,760
|-------------------------------------------------------------
| 10 SHARED DISPOSITIVE POWER
|
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
486,760
- --------------------------------------------------------------------------------
12 CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.1%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
00
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 8
CUSIP No. 140673104 13D Page 8 of 21
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
LFT Partnership, an Illinois general partnership
36-6527526
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [x]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) OR 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
- --------------------------------------------------------------------------------
| 7 SOLE VOTING POWER
| 486,760
NUMBER OF |-------------------------------------------------------------
SHARES | 8 SHARED VOTING POWER
BENEFICIALLY |
OWNED BY |-------------------------------------------------------------
EACH REPORTING | 9 SOLE DISPOSITIVE POWER
PERSON WITH | 486,760
|-------------------------------------------------------------
| 10 SHARED DISPOSITIVE POWER
|
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
486,760
- --------------------------------------------------------------------------------
12 CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.1%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 9
SCHEDULE 13D
CUSIP NUMBER 140673104
Item 1. Securities and Issuer
The Statement relates to the common stock, par value $.05 per share
("Common Stock") of Capsure Holdings Corp. (the "Issuer"). The
Issuer's principal executive offices are at Two North Riverside Plaza,
Chicago, IL 60606.
Item 2. Identity and Background
(a) - (c) This Statement is being filed by the following persons
or entities:
1) Samuel Zell
2) Samuel Zell Revocable Trust under trust agreement dated
January 17, 1990 (the "Zell Trust")
3) Alphabet Partners, an Illinois general partnership
("Alphabet Partners")
4) ZFT Partnership, an Illinois general partnership
("ZFT Partnership")
5) Ann Lurie
6) Ann Lurie Revocable Trust under trust agreement dated
December 22, 1989 (the "Lurie Trust")
7) LFT Partnership, an Illinois general partnership
("LFT Partnership").
Mr. Zell, the Zell Trust, Alphabet Partners, ZFT Partnership, Mrs.
Lurie, the Lurie Trust and LFT Partnership are collectively the
"Reporting Persons". The business address for all of the Reporting
Persons is Two N. Riverside Plaza, Suite 600, Chicago, IL 60606.
Certain information concerning the Reporting Persons is set forth in
Appendix A hereto.
(d) and (e) None of the Reporting Persons, nor, to the best
knowledge of the Reporting Persons, any of the persons listed in
Appendix A hereto, have, during the last five years (i) been
convicted in a criminal proceeding (excluding traffic violations or
similar misdemeanors), or (ii) been 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 a judgment, decree or
final order enjoining future violations of, or prohibiting activities
subject to federal or state securities laws or finding any violation
with respect to such laws.
Item 3. Source and Amount of Funds or Other Consideration
No funds were expended in the acquisition of the 3,042,253 shares of
Common Stock reported herein. The Reporting Persons acquired the
shares of Common Stock reported herein in a series of distributions
from Equity Holdings, an Illinois general partnership ("Equity
Holdings"). For a more complete explanation, see Item 5. of Amendment
Number 7 to Schedule 13D for Equity Holdings which is attached hereto
as Exhibit 1 and is incorporated herein by reference.
Page 9 of 21
<PAGE> 10
Item 4. Purpose of Transaction
The purpose of the Reporting Persons' acquisition of shares of Common
Stock pursuant to a series of distributions discussed in Exhibit 1,
which is incorporated herein by reference, was to restructure the
Reporting Persons' manner of ownership of the Common Stock reported
herein. The Reporting Persons hold the Common Stock for investment
purposes.
The Reporting Persons do not have any plans or proposals of the type
referred to in clauses (a) through (j) of Item 4. of Schedule 13D.
Item 5. Interest in Securities of the Issuer
(a) To the best knowledge of the Reporting Persons, there are
15,624,749 shares of Common Stock outstanding as of the date hereof.
As of the date hereof, the Reporting Persons may be deemed to own the
following shares which represent the following percentages of the
shares of Common Stock outstanding:
<TABLE>
<CAPTION>
REPORTING PERSON NUMBER OF SHARES PERCENTAGE OF OUTSTANDING
---------------- ---------------- -------------------------
<S> <C> <C>
Samuel Zell 2,118,733(1) 13.5%(1)
Samuel Zell Revocable
Trust U/T/A 01/17/90 608,451 3.9%
Alphabet Partners 730,141 4.7%
ZFT Partnership 730,141 4.7%
Ann Lurie 973,520(2) 6.2%(2)
Ann Lurie Revocable
Trust U/T/A 12/22/89 486,760 3.1%
LFT Partnership 486,760 3.1%
</TABLE>
(1) Includes 608,451 shares beneficially owned by the Zell Trust;
730,141 shares beneficially owned by Alphabet Partners; 730,141
shares beneficially owned by ZFT Partnership; and options to
purchase 50,000 shares which are currently exercisable and
beneficially owned by Mr. Zell.
(2) Includes 486,760 shares beneficially owned by the Lurie Trust;
and 486,760 shares beneficially owned by LFT Partnership.
Arthur A. Greenberg is the sole trustee of the ten trusts which are
the general partners of Alphabet Partners. Mr. Greenberg
beneficially owns 27,250 shares of Common Stock. Additionally, a
trust in which Mr. Greenberg is the beneficiary, beneficially owns
2,000 shares
Page 10 of 21
<PAGE> 11
of Common Stock. Mr. Greenberg disclaims beneficial ownership of
the shares beneficially owned by such trust.
Sheli Z. Rosenberg is the sole trustee of the fifteen trusts which are
the general partners of ZFT Partnership. Mrs. Rosenberg
beneficially owns 22,706 shares of Common Stock and options to
purchase 40,000 shares which are currently exercisable.
(b) Samuel Zell has the sole power to vote or to direct the vote
of (assuming the exercise of the options to purchase 50,000 shares of
Common Stock) and the sole power to dispose or to direct the
disposition of the options to purchase 50,000 shares of Common Stock
beneficially owned by him. Mr. Zell, as trustee of the Zell Trust,
has the sole power to vote or direct the vote and the sole power to
dispose or to direct the disposition of the 608,451 shares
beneficially owned by the Zell Trust. Mr. Zell has no power to vote
or to direct the vote and no power to dispose or to direct the
disposition of the 1,460,282 shares beneficially owned by Alphabet
Partners and ZFT Partnership, but as beneficiary of all of the trusts
which are the partners of Alphabet Partners and ZFT Partnership may be
deemed to be the beneficial owner of such shares. Mr. Zell disclaims
beneficial ownership of such shares owned by Alphabet Partners and ZFT
Partnership.
Arthur A. Greenberg, as sole trustee of the ten trusts which are the
general partners of Alphabet Partners, has the sole power to vote or
to direct the vote and the sole power to dispose or to direct the
disposition of the 730,141 shares beneficially owned by Alphabet
Partners. Mr. Greenberg disclaims beneficial ownership of such
shares.
Sheli Z. Rosenberg, as sole trustee of the fifteen trusts which are
the general partners of ZFT Partnership, has the sole power to vote or
to direct the vote and the sole power to dispose or to direct the
disposition of the 730,141 shares beneficially owned by ZFT
Partnership. Mrs. Rosenberg disclaims beneficial ownership of such
shares.
Ann Lurie, as the trustee of the Lurie Trust, has the sole power to
vote and to direct the vote and the sole power to dispose and to
direct the disposition of the 486,760 shares beneficially owned by the
Lurie Trust. Ann Lurie, as the sole trustee of the six trusts which
are the general partners of LFT Partnership, has the sole power to
vote or to direct the vote and the sole power to dispose or to direct
the disposition of the 486,760 shares beneficially owned by LFT
Partnership. Mrs. Lurie disclaims beneficial ownership of the 486,760
shares beneficially owned by LFT Partnership.
(c) The only transactions in Common Stock by the Reporting Persons
are described in Item 5. of Amendment Number 7 to Schedule 13D of
Equity Holdings which is filed herewith as Exhibit 1 and is
incorporated herein by reference.
(d) and (e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships With Respect
to Securities of the Issuer
Page 11 of 21
<PAGE> 12
The individuals disclosed in Item 2. hereof hold the following
positions with the Issuer:
(i) Samuel Zell is Chairman of the Board of Directors and Chief
Executive Officer;
(ii) Sheli Z. Rosenberg is Vice President, Assistant
Secretary and a member of the Board of Directors; and
(iii) Arthur A. Greenberg is Senior Vice President and Treasurer.
Arlington Leasing Co., a Nevada corporation ("Arlington"), which
separately has filed a Schedule 13D and Amendments thereto, is part
of a consolidated group with Equity Group Investments, Inc., an
Illinois corporation ("EGI"), as its parent. EGI's shareholders
include Alphabet Partners, ZFT Partnership, LFT Partnership and
certain of the trusts which are partners of Alphabet Partners, ZFT
Partnership and LFT Partnership. As a result of the ownership of EGI
and subsequently Arlington, the Reporting Persons and Arlington may be
deemed to be members of a "group" as that term is defined in Section
13 (d)(3) of the Securities Act of 1934, as amended.
Item 7. Materials to Be Filed as Exhibits
Exhibit 1 - Amendment Number 7 to Schedule 13D for Equity Holdings.
Exhibit 2 - Joint Filing Agreement dated as of September 24, 1996.
SIGNATURES
After reasonable inquiry, and the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
/s/ Samuel Zell /s/ Ann Lurie
- ------------------------ -----------------------
Samuel Zell Ann Lurie
Samuel Zell Revocable Trust Ann Lurie Revocable Trust
U/T/A 01/17/90 U/T/A 12/22/89
/s/ Samuel Zell /s/ Ann Lurie
- ------------------------ -----------------------
Samuel Zell, Trustee Ann Lurie, Trustee
Page 12 of 21
<PAGE> 13
Alphabet Partners, an Illinois LFT Partnership
general partnership By: Jesse Trust, a general partner
By: SZA Trust, a general partner
/s/ Arthur A. Greenberg /s/ Ann Lurie
- ------------------------ -----------------------
Arthur A. Greenberg, Trustee Ann Lurie, Trustee
ZFT Partnership, an Illinois
general partnership
By: Samuel Zell Trust, a general partner
/s/ Sheli Z. Rosenberg
- ------------------------
Sheli Z. Rosenberg, Trustee
DATED: October 4, 1996
Page 13 of 21
<PAGE> 14
APPENDIX A
SCHEDULE 13D
CUSIP NUMBER 140673104
SAMUEL ZELL:
Mr. Zell is Chairman of the Board of Directors of Equity Group
Investments, Inc. ("EGI") and Equity Financial and Management Company ("EFM").
Both firms are privately owned affiliated investment management firms. Mr.
Zell is also Chairman of the Board and Chief Executive Officer of the Issuer.
Mr. Zell is a citizen of the United States of America.
SAMUEL ZELL REVOCABLE TRUST UNDER TRUST AGREEMENT DATED JANUARY 17, 1990:
Mr. Zell is the trustee and beneficiary of the Samuel Zell Revocable Trust
under trust agreement dated January 17, 1990 (the "Zell Trust"). The Zell
Trust is an Illinois trust. Information concerning Mr. Zell is above.
ALPHABET PARTNERS, AN ILLINOIS GENERAL PARTNERSHIP:
Alphabet Partners is composed of ten trusts created for the benefit of Mr.
Zell which share equally in the partnership. Arthur A. Greenberg is the sole
trustee of the ten trusts. Mr. Greenberg is a principal in the accounting
firm, Greenberg & Pociask, P.C. and an Executive Vice President of EGI. Mr.
Greenberg is also a Senior Vice President and Treasurer of the Issuer. Mr.
Greenberg is a citizen of the United States of America.
ZFT PARTNERSHIP, AN ILLINOIS GENERAL PARTNERSHIP:
ZFT Partnership is composed of fifteen trusts created for the benefit
of Mr. Zell which share equally in the partnership. Sheli Z. Rosenberg is the
sole trustee of the fifteen trusts. Mrs. Rosenberg is President and Chief
Executive Officer of EGI and EF&M and a principal in the law firm,
Rosenberg & Liebentritt, P.C. Mrs. Rosenberg is also a Vice President,
Assistant Secretary and a member of the Board of Directors of the Issuer. Mrs.
Rosenberg is a citizen of the United States of America.
ANN LURIE:
Mrs. Lurie is a private investor. Mrs. Lurie is a citizen of the United
States of America.
ANN LURIE REVOCABLE TRUST UNDER TRUST AGREEMENT DATED DECEMBER 22, 1989:
Mrs. Lurie is the trustee and beneficiary of the Ann Lurie Revocable Trust
under trust agreement dated December 22, 1989 (the "Lurie Trust"). The Lurie
Trust is an Illinois trust. Information concerning Mrs. Lurie is above.
LFT PARTNERSHIP, AN ILLINOIS GENERAL PARTNERSHIP:
LFT Partnership is composed of six trusts each created for one of Mrs.
Lurie's six children which each shares equally in the partnership. Mrs. Lurie
is the sole trustee of the six trusts. Information concerning Mrs. Lurie is
above.
Page 14 of 21
<PAGE> 15
EXHIBIT INDEX
Exhibit Number Description Page
- -------------- ----------- ----
1 Amendment Number 7 to Schedule 13D for Equity Holdings. 16
2 Joint Filing Agreement dated September 24, 1996 20
Page 15 of 21
<PAGE> 1
EXHIBIT 1
------------------------------
OMB APPROVAL
------------------------------
OMB Number 3235-0145
Expires: August 31, 1991
Estimated average burden hours
per response........ 14.90
------------------------------
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 7 )*
Capsure Holdings Corp.
- --------------------------------------------------------------------------------
(NAME OF ISSUER)
Common Stock, par value $.05 per share
- --------------------------------------------------------------------------------
(TITLE OF CLASS OF SECURITIES)
140673104
- --------------------------------------------------------------------------------
(CUSIP NUMBER)
Sheli Z. Rosenberg, Rosenberg & Liebentritt, P.C.
Two N. Riverside Plaza, Suite 600, Chicago, IL 60606 (312) 466-3990
- --------------------------------------------------------------------------------
(NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON AUTHORIZED TO RECEIVE NOTICES AND
COMMUNICATIONS)
September 24, 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 our 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 16 of 21
<PAGE> 2
EXHIBIT 1
CUSIP No. 140673104 13D Page 2 of 4
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Equity Holdings
36-3206542
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [x]
- --------------------------------------------------------------------------------
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
Illinois
- --------------------------------------------------------------------------------
| 7 SOLE VOTING POWER
| 0
NUMBER OF |-------------------------------------------------------------
SHARES | 8 SHARED VOTING POWER
BENEFICIALLY |
OWNED BY |-------------------------------------------------------------
EACH REPORTING | 9 SOLE DISPOSITIVE POWER
PERSON WITH | 0
|-------------------------------------------------------------
| 10 SHARED DISPOSTIVE POWER
|
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- --------------------------------------------------------------------------------
12 CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
Page 17 of 21
<PAGE> 3
EXHIBIT 1
Issuer: Capsure Holdings Corp.
CUSIP: 140673104
Reporting Person: Equity Holdings
ONLY THOSE ITEMS AMENDED ARE REPORTED HEREIN.
CAPITALIZED TERMS NOT OTHERWISE DEFINED HEREIN SHALL HAVE
THE SAME MEANING AS THEY HAVE IN THE INITIAL
SCHEDULE 13D AND AMENDMENTS THERETO
Item 5. Interest in Securities of the Issuer
(a), (c) and (e)
On September 24, 1996, Equity Holdings ("EH") distributed the 3,042,253
shares of Common Stock it owned to its partners: 608,451 shares to Samuel
Zell, Trustee of the Samuel Zell Revocable Trust under trust agreement dated
January 17, 1990 and 2,433,802 shares to B/S Investments, an Illinois general
partnership ("B/S"). B/S then distributed the 2,433,802 shares to its four
partners: 1) 730,141 shares to Alphabet Partners, an Illinois general
partnership; 2) 486,760 shares to Anda Partnership, a Nevada general
partnership ("Anda"); 3) 486,760 shares to LFT Partnership, an Illinois
general partnership; and 4) 730,141 shares to ZFT Partnership, an Illinois
general partnership.
Anda then distributed the 486,760 shares of Common Stock to its ten
partners which are all trusts created for the benefit of Ann Lurie. Such
trusts, pursuant to the trusts' agreements, then distributed the shares to their
primary beneficiary, Ann Lurie. Ann Lurie then contributed the 486,760 to her
revocable trust, the Ann Lurie Revocable Trust under trust agreement dated
December 22, 1989, of which she is the sole trustee.
As a result of the above, on September 24, 1996, EH ceased to be the
beneficial owner of more than five percent of Capsure Holdings Corp., formerly
Nucorp, Inc.
SIGNATURE
After reasonable inquiry, and the best of my knowledge and belief, I certify
that the information set forth in the statement is true, complete and correct.
DATED: October 4, 1996
EQUITY HOLDINGS
By: Samuel Zell, Trustee of the Samuel Zell
Revocable Trust dated January 17, 1990.
By: /s/ Samuel Zell
--------------------
Samuel Zell, Trustee
Page 18 of 21
<PAGE> 4
EXHIBIT 1
EXHIBIT INDEX
Exhibit Number Description Page
1 Loan Agreement dated January 13, 1989 between EH and Bank. *
7(a) Certain pages from the Registration Statement *
* Previously filed.
Page 19 of 21
<PAGE> 1
Exhibit 2
JOINT FILING AGREEMENT
AGREEMENT dated as of September 24, 1996 among Samuel Zell; Samuel Zell as
Trustee of the Samuel Zell Revocable Trust under trust agreement dated January
17, 1990; Alphabet Partners, an Illinois general partnership; ZFT Partnership,
an Illinois general partnership; Ann Lurie; Ann Lurie as Trustee of the Ann
Lurie Revocable Trust under trust agreement dated December 22, 1989; and LFT
Partnership, an Illinois general partnership (collectively the "Reporting
Persons").
WHEREAS, the Reporting Persons beneficially own shares of Common Stock,
par value $.05 per share, of Capsure Holdings Corp., a Delaware Corporation.
WHEREAS, the parties hereto may be deemed to constitute a "group" for
purposes of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended
(the "Act"); and
WHEREAS, each of the parties hereto desire by this Agreement to provide
for the joint filing of a Schedule 13D, and all amendments thereto, with the
Securities and Exchange Commission.
NOW, THEREFORE, the parties hereto agree as follows:
1. The parties hereto will join in the preparation and filing of a
single statement containing the information required by Schedule
13D, and all amendments thereto, and the Schedule 13D and all such
amendments will be filed on behalf of each party hereto;
2. Each party hereto will be responsible for the timely filing of the
Schedule 13D, and all amendments thereto, and for the
completeness and accuracy of the information concerning such party
contained therein. No party hereto will be responsible for the
completeness or accuracy of the information concerning any other
party contained in the Schedule 13D or any amendment thereto,
except to the extent such party knows or has reason to believe that
such information in inaccurate.
3. Susan Obuchowski will be designated as the person authorized to
receive notices and communications with respect to the Schedule 13D
and all amendments thereto.
4. This Agreement may be executed in counterparts, all of which when
taken together will constitute one and the same instrument.
Page 20 of 21
<PAGE> 2
Exhibit 2
IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the
date first above written.
/s/ Samuel Zell /s/ Ann Lurie
- ----------------------------- -----------------------------
Samuel Zell Ann Lurie
Samuel Zell Revocable Trust Ann Lurie Revocable Trust
U/T/A 01/17/90 U/T/A 12/22/89
/s/ Samuel Zell /s/ Ann Lurie
- ----------------------------- -----------------------------
Samuel Zell, Trustee Ann Lurie, Trustee
Alphabet Partners, an Illinois LFT Partnership
general partnership By: Jesse Trust, a general partner
By: SZA Trust, a general partner
/s/ Arthur A. Greenberg /s/ Ann Lurie
- ----------------------------- -----------------------------
Arthur A. Greenberg, Trustee Ann Lurie, Trustee
ZFT Partnership, an Illinois
general partnership
By: Samuel Zell Trust, a general partner
/s/ Sheli Z. Rosenberg
- -----------------------------
Sheli Z. Rosenberg, Trustee
Page 21 of 21
