<PAGE> 1
SCHEDULE 13D
(RULE 13d-101)
Information to be Included in Statements Filed Pursuant to Rule 13d-1(a) and
Amendments Thereto Filed Pursuant to Rule 13d-2(a)
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 3)*
Capsure Holdings Corp.
- -------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $0.05 per share
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(Title of Class of Securities)
140673104
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(CUSIP Number)
Susan Obuchowski
Two North Riverside Plaza, Suite 600, Chicago, IL 60606 (312) 466-4010
- -------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
September 30, 1997
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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 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 13d-1(a) for other parties to whom copies
are to be sent.
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
<PAGE> 2
<TABLE>
<CAPTION>
CUSIP NO. 140673104 Page 2 of 14
<S> <C>
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1 Names of Reporting Persons/I.R.S. Identification Nos. of Above Persons
Samuel Zell
###-##-####
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2 Check the Appropriate Box if a Member of a Group (a) [ ]
(See Instructions) (b) [X]
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3 SEC Use Only
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4 Source of Funds (See Instructions)
N/A
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5 Check if Disclosure of Legal Proceedings is Required Pursuant to
Item 2(d) or 2(e)
[ ]
- -------------------------------------------------------------------------------
6 Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
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 if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
(See Instructions)
- -------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
0%
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14 Type of Reporting Person (See Instructions)
IN
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</TABLE>
<PAGE> 3
<TABLE>
<CAPTION>
CUSIP NO. 140673104 Page 3 of 14
<S> <C>
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1 Names of Reporting Persons/I.R.S. Identification Nos. of Above Persons
Samuel Zell Revocable Trust U/T/A 01/17/90
###-##-####
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2 Check the Appropriate Box if a Member of a Group (a) [ ]
(See Instructions) (b) [X]
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3 SEC Use Only
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4 Source of Funds (See Instructions)
N/A
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5 Check if Disclosure of Legal Proceedings is Required Pursuant to
Item 2(d) or 2(e)
[ ]
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6 Citizenship or Place of Organization
Illinois
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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 if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
(See Instructions)
- -------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
0%
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14 Type of Reporting Person (See Instructions)
OO
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</TABLE>
<PAGE> 4
<TABLE>
<CAPTION>
CUSIP NO. 140673104 Page 4 of 14
<S> <C>
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1 Names of Reporting Persons/I.R.S. Identification Nos. of Above Persons
Alphabet Partners, an Illinois general partnership
36-3002855
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2 Check the Appropriate Box if a Member of a Group (a) [ ]
(See Instructions) (b) [X]
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3 SEC Use Only
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4 Source of Funds (See Instructions)
N/A
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5 Check if Disclosure of Legal Proceedings is Required Pursuant to
Item 2(d) or 2(e)
[ ]
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6 Citizenship or Place of Organization
Illinois
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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 if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
(See Instructions)
- -------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
0%
- -------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
PN
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</TABLE>
<PAGE> 5
<TABLE>
<CAPTION>
CUSIP NO. 140673104 Page 5 of 14
<S> <C>
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1 Names of Reporting Persons/I.R.S. Identification Nos. of Above Persons
ZFT Partnership, an Illinois general partnership
36-3022976
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2 Check the Appropriate Box if a Member of a Group (a) [ ]
(See Instructions) (b) [X]
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3 SEC Use Only
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4 Source of Funds (See Instructions)
N/A
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5 Check if Disclosure of Legal Proceedings is Required Pursuant to
Item 2(d) or 2(e)
[ ]
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6 Citizenship or Place of Organization
Illinois
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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 if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
(See Instructions)
- -------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
0%
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14 Type of Reporting Person (See Instructions)
PN
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</TABLE>
<PAGE> 6
<TABLE>
<CAPTION>
CUSIP NO. 140673104 Page 6 of 14
<S> <C>
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1 Names of Reporting Persons/I.R.S. Identification Nos. of Above Persons
LFT Partnership, an Illinois general partnership
36-6527526
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2 Check the Appropriate Box if a Member of a Group (a) [ ]
(See Instructions) (b) [X]
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3 SEC Use Only
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4 Source of Funds (See Instructions)
N/A
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5 Check if Disclosure of Legal Proceedings is Required Pursuant to
Item 2(d) or 2(e)
[ ]
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6 Citizenship or Place of Organization
Illinois
- -------------------------------------------------------------------------------
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 if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
(See Instructions)
- -------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
0%
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14 Type of Reporting Person (See Instructions)
PN
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</TABLE>
<PAGE> 7
<TABLE>
<CAPTION>
CUSIP NO. 140673104 Page 7 of 14
<S> <C>
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1 Names of Reporting Persons/I.R.S. Identification Nos. of Above Persons
Ann Lurie Revocable Trust U/T/A 12/22/89
###-##-####
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2 Check the Appropriate Box if a Member of a Group (a) [ ]
(See Instructions) (b) [X]
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3 SEC Use Only
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4 Source of Funds (See Instructions)
N/A
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5 Check if Disclosure of Legal Proceedings is Required Pursuant to
Item 2(d) or 2(e)
[ ]
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6 Citizenship or Place of Organization
Illinois
- -------------------------------------------------------------------------------
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 if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
(See Instructions)
- -------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
0%
- -------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
OO
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</TABLE>
<PAGE> 8
<TABLE>
<CAPTION>
CUSIP NO. 140673104 Page 8 of 14
<S> <C>
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1 Names of Reporting Persons/I.R.S. Identification Nos. of Above Persons
Ann and Robert H. Lurie Family Foundation
36-3486274
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2 Check the Appropriate Box if a Member of a Group (a) [ ]
(See Instructions) (b) [X]
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3 SEC Use Only
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4 Source of Funds (See Instructions)
N/A
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5 Check if Disclosure of Legal Proceedings is Required Pursuant to
Item 2(d) or 2(e)
[ ]
- -------------------------------------------------------------------------------
6 Citizenship or Place of Organization
Illinois
- -------------------------------------------------------------------------------
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 if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
(See Instructions)
- -------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
0%
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14 Type of Reporting Person (See Instructions)
CO
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</TABLE>
<PAGE> 9
<TABLE>
<CAPTION>
CUSIP NO. 140673104 Page 9 of 14
<S> <C>
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1 Names of Reporting Persons/I.R.S. Identification Nos. of Above Persons
Equity Capsure Limited Partnership, an Illinois limited partnership
36-4122677
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2 Check the Appropriate Box if a Member of a Group (a) [ ]
(See Instructions) (b) [X]
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3 SEC Use Only
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4 Source of Funds (See Instructions)
N/A
- -------------------------------------------------------------------------------
5 Check if Disclosure of Legal Proceedings is Required Pursuant to
Item 2(d) or 2(e)
[ ]
- -------------------------------------------------------------------------------
6 Citizenship or Place of Organization
Illinois
- -------------------------------------------------------------------------------
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 if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
(See Instructions)
- -------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
0%
- -------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
PN
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</TABLE>
<PAGE> 10
<TABLE>
<CAPTION>
CUSIP NO. 140673104 Page 10 of 14
<S> <C>
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1 Names of Reporting Persons/I.R.S. Identification Nos. of Above Persons
Arlington Leasing Co., a Nevada corporation
88-0132727
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2 Check the Appropriate Box if a Member of a Group (a) [ ]
(See Instructions) (b) [X]
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3 SEC Use Only
- -------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
N/A
- -------------------------------------------------------------------------------
5 Check if Disclosure of Legal Proceedings is Required Pursuant to
Item 2(d) or 2(e)
[ ]
- -------------------------------------------------------------------------------
6 Citizenship or Place of Organization
Nevada
- -------------------------------------------------------------------------------
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 if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
(See Instructions)
- -------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
0%
- -------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
CO
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</TABLE>
<PAGE> 11
Page 11 of 14
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 4. PURPOSE OF TRANSACTION.
The purpose of the Reporting Persons' disposition of the shares of
Common Stock reported herein was to exchange the Reporting Persons'
Common Stock for an equal amount of CNA Surety Corporation common
stock, par value $0.01 per share ("CNA Surety Common Stock") in
accordance with the terms of the Reorganization Agreement dated as
of December 19, 1996 and as amended as of July 14, 1997 (as
amended, the "Reorganization Agreement"), among the Issuer,
Continental Casualty Company, an Illinois corporation, and certain
of its affiliates (collectively, "CCC"), CNA Surety Corporation, a
Delaware corporation, all of whose outstanding shares are owned by
CCC ("CNA Surety") and Surety Acquisition Company, a Delaware
corporation and a wholly-owned subsidiary of CNA Surety
("Acquisition"). Pursuant to the Reorganization Agreement, the
Issuer merged with and into Acquisition on September 30, 1997 (the
"Merger") and as a result, the Issuer became a wholly-owned
subsidiary of CNA Surety. Upon effectiveness of the Merger, each
outstanding share of Common Stock converted into the right to
receive one share of CNA Surety Common Stock. As a result of the
Merger, the Common Stock was delisted from the New York Stock
Exchange and the Common Stock became eligible for termination of
registration pursuant to Section 12(g)(4) of the Securities
Exchange Act of 1934.
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) and (b) As a result of the Merger described in Section 4 above,
the Reporting Persons no longer beneficially own any equity
securities of the Issuer.
<PAGE> 12
Page 12 of 14
(c) The only transactions in Common Stock by the Reporting Persons
were the transactions previously described in Item 4 hereto.
On September 19, 1997, Sheli Z. Rosenberg exercised options to
purchase 5,000 shares of Common Stock at $4.00 per share, 1,250
shares of Common Stock at $4.75 per share and 5,000 shares of
Common Stock at $3.75 per share, from her personal funds.
On September 23, 1997 Arthur A. Greenberg exercised options to
purchase 1,500 shares of Common Stock at $3.00 per share and 1,500
shares of Common Stock at $3.50 per share, from his personal funds.
(e) The Reporting Parties ceased to be beneficial owners of more
than five percent of the Common Stock upon effectiveness of the
Merger on September 30, 1997, as described in Section 4 above.
ITEM 7. MATERIALS TO BE FILED AS EXHIBITS.
Exhibit 9 Reorganization Agreement, dated as of December 19, 1997
and as amended July 14, 1997 among Issuer, CCC, CNA
Surety and Acquisition (incorporated herein by reference
to Appendix A of the Registration Statement on Form S-4,
dated as of August 15, 1997, of CNA Surety)
<PAGE> 13
Page 13 of 14
SIGNATURES
After reasonable inquiry, and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
Equity Capsure Limited Partnership, Arlington Leasing Co., a Nevada
an Illinois limited partnership corporation
By: Samuel Zell Revocable Trust
U/T/A 1/17/90, general partner By: /s/ Samuel Zell
-----------------------------------
By: /s/ Samuel Zell Samuel Zell, President
- ------------------------------------
Samuel Zell, Trustee
Ann Lurie Revocable Trust
U/T/A 12/22/89
Samuel Zell Revocable Trust
U/T/A 1/17/90 By: /s/ Ann Lurie
-----------------------------------
By: /s/ Samuel Zell Ann Lurie, Trustee
- ------------------------------------
Samuel Zell, Trustee /s/ Ann Lurie
-----------------------------------
Ann Lurie
/s/ Samuel Zell
- ------------------------------------
Samuel Zell Ann and Robert H. Lurie
Family Foundation
ZFT Partnership, an Illinois general By: /s/ Ann Lurie
partnership -----------------------------------
By: Samuel Zell Trust, a general partner Ann Lurie, President
By: /s/ Sheli Z. Rosenberg
- ------------------------------------
Sheli Z. Rosenberg, Trustee
LFT Partnership, an Illinois general
partnership
By: Jesse Trust, a general partner
By: /s/ Ann Lurie
- -------------------------------------
Ann Lurie, Trustee
Alphabet Partners, an Illinois general
partnership
By: SZA Trust, a general partner
By: /s/Arthur A. Greenberg
- -------------------------------------
Arthur A. Greenberg, Trustee Dated: October 10, 1997
<PAGE> 14
Page 14 of 14
EXHIBIT INDEX
<TABLE>
<CAPTION>
EXHIBIT NUMBER DESCRIPTION PAGE
- -------------- ----------- ----
<S> <C> <C>
1 Amendment Number 7 to Schedule *
13D for Equity Holdings
2 Joint Filing Agreement dated September *
24, 1996
3 Voting Agreement among Equity, CCC, *
Bruce A. Esselborn and Rod F. Dammeyer
4 Irrevocable Proxy of Equity *
5 Amended and Restated Joint Filing Agreement *
dated December 19, 1996
6 Letter from the Lurie Foundation to CCC *
dated May 23, 1997
7 Irrevocable Proxy of the Lurie Foundation *
8 Second Amended and Restated Joint Filing *
Agreement dated May 23, 1997
9 Reorganization Agreement dated as of **
December 19, 1997 and amended July 14,
1997 among Issuer, CCC, CNA Surety and
Acquisition
</TABLE>
* Previously filed
** Incorporated herein by reference to Appendix A of the Registration
Statement on Form S-4 dated as of August 15, 1997 of CNA Surety.
