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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
(RULE 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13D-1(b) (c) AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(b)
(AMENDMENT NO. 1)1
GAYLORD CONTAINER CORP.
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
368145108
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(CUSIP Number)
N/A
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
/X/ Rule 13d-1(b)
/X/ Rule 13d-1(c)
/ / Rule 13d-1(d)
- --------
1 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 the disclosures provided in a prior cover page.
The information required in 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 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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CUSIP No. 368145108 13G Page 2 of 18 Pages
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
James B. Rubin
Resurgence Asset Management International, L.L.C. (1)
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5 SOLE VOTING POWER
666,567 (1)
---------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY -0-
OWNED BY EACH ---------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH 666,567 (1)
---------------------------------------------------
8 SHARED DISPOSITIVE POWER
-0-
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
666,567 (1)
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* / /
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.3020%
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12 TYPE OF REPORTING PERSON*
IA
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*SEE INSTRUCTION BEFORE FILLING OUT!
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CUSIP No. 368145108 13G Page 3 of 18 Pages
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(1) Resurgence Asset Management International, L.L.C. ("RAMI") exercises
voting and dispositive power over Issuer's securities (a) solely in
RAMI's capacity as sole special shareholder of and sole investment
advisor of M.D. Sass Corporate Resurgence Partners International, Ltd.,
and (b) solely in RAM's capacity as sole special shareholder and sole
investment advisor to M.D. Sass Re/Enterprises International, Ltd.
Accordingly, RAMI, may be deemed to share voting and dispositive power
with each of M.D. Sass Corporate Resurgence Partners International Ltd.
and M.D. Sass Re/Enterprise International Ltd. Mr. James B. Rubin
serves as Chief Investment Officer and is responsible for the
day-to-day activities of RAMI.
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CUSIP No. 368145108 13G Page 4 of 18 Pages
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
James B. Rubin
Re/Enterprise Asset Management, L.L.C. (1)
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5 SOLE VOTING POWER
2,220,398 (1)
---------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY -0-
OWNED BY EACH ---------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH 2,220,398 (1)
---------------------------------------------------
8 SHARED DISPOSITIVE POWER
-0-
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,220,398 (1)
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* / /
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.3369%
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12 TYPE OF REPORTING PERSON*
IA
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*SEE INSTRUCTION BEFORE FILLING OUT!
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CUSIP No. 368145108 13G Page 5 of 18 Pages
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(1) Re/Enterprise Asset Management L.L.C. ("REAM") exercises voting and
dispositive power over the Issuer's securities (a) as the sole investment
advisor to two employee pension plans and (b) as general partner and sole
investment advisor of M.D. Sass Re/Enterprise L.P. ("Enterprise") and
M.D. Sass Re/Enterprise II, L.P. ("Enterprise II"). Accordingly, REAM may
be deemed to share voting and dispositive power with each of the pension
plans and with Enterprise and Enterprise II. Mr. James B. Rubin serves as
Chief Investment Officer and is responsible for the day-to-day activities
of RAM.
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CUSIP No. 368145108 13G Page 6 of 18 Pages
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
M.D. Sass Parallax Partners, L.P. (1)
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5 SOLE VOTING POWER
204,080 (1)
---------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY -0-
OWNED BY EACH ---------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH 204,080 (1)
---------------------------------------------------
8 SHARED DISPOSITIVE POWER
-0-
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
204,080 (1)
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* / /
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
.3986%
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12 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTION BEFORE FILLING OUT!
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CUSIP No. 368145108 13G Page 7 of 18 Pages
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(1) M.D. Sass Parallax Partners L.P., ("Parallax") is a limited partnership.
Voting and dispositive power over the Issuer's securities is through
Parallax's general partner, MDS GPU, L.L.C.
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CUSIP No. 368145108 13G Page 8 of 18 Pages
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Devonshire Capital Partners, L.L.C. (1)
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Nevada
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5 SOLE VOTING POWER
110,000 (1)
---------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY -0-
OWNED BY EACH ---------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH 110,000 (1)
---------------------------------------------------
8 SHARED DISPOSITIVE POWER
-0-
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
110,000 (1)
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* / /
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
.2149%
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12 TYPE OF REPORTING PERSON*
OO
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*SEE INSTRUCTION BEFORE FILLING OUT!
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CUSIP No. 368145108 13G Page 9 of 18 Pages
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(1) The manager of Devonshire Capital Partners, L.L.C. ("Devonshire"), Thomas
A. Larken, is responsible for ordinary management and investment decisions.
However, voting of certain securities in which Devonshire owns more than 5%
of the voting power must be approved of a majority of the Class A members
is required. Class A members of Devonshire are James B. Rubin, Guadalupe G.
Rubin and Thomas A. Larkin.
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CUSIP No. 368145108 13G Page 10 of 18 Pages
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
J.B. Rubin & Company Profit Sharing Plan (1)
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
N/A
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5 SOLE VOTING POWER
43,420 (1)
---------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY -0-
OWNED BY EACH ---------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH 43,420 (1)
---------------------------------------------------
8 SHARED DISPOSITIVE POWER
-0-
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
43,420 (1)
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* / /
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
.0848%
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12 TYPE OF REPORTING PERSON*
EP
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*SEE INSTRUCTION BEFORE FILLING OUT!
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CUSIP No. 368145108 13G Page 11 of 18 Pages
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(1) The trustee of J.B. Rubin & Company Profit Sharing Plan is
James B. Rubin.
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CUSIP No. 368145108 13G Page 12 of 18 Pages
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ITEM 1(a). Name of Issuer: Gaylord Container Corp.
ITEM 1(b). Address of Issuer's Principal Executive Offices:
500 Lake Cook Road
Suite 400
Deerfield, Illinois 60015
ITEM 2(a). Name of Person Filing: Resurgence Asset Management International,
L.L.C. ("RAMI")
Re/Enterprise Asset Management, L.L.C.
("REAM")
M.D. Sass Parallax Partners, L.P.
("Parallax")
Devonshire Capital Partners, L.L.P.
("Devonshire")
J.B. Rubin & Company Profit Sharing
Plan (the "Plan")
ITEM 2(b). Address of Principal Business Office, or, if none, Residence:
The address for each of RAMI, REAM, ParaMax, Devonshire, and
the Plan is:
10 New King Street
First Floor
White Plains, New York 10864
ITEM 2(c). Citizenship: U.S.A.
ITEM 2(d). Title of Class of Securities: Common Stock
ITEM 2(e). CUSIP Number: 368145108
ITEM 3. If this Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b)
or (c), Check Whether the Person Filing is a:
(a) / / Broker or dealer registered under Section 15 of the
Exchange Act;
(b) / / Bank as defined in Section 3(a)(6) of the Exchange
Act;
(c) / / Insurance company as defined in Section 3(a)(19) of
the Exchange Act;
(d) / / Investment company registered under Section 8 of the
Investment Company Act;
(e) /X/ An investment advisor in accordance with Rule
13d-1(b)(1)(ii)(E);
(f) /X/ An employee benefit plan or endowment fund in accordance
with Rule 13d- 1(b)(1)(ii)(G);
(g) /X/ A parent holding company or control person in accordance
with Rule 13d-1(b) (1)(ii)(G);
(h) / / A savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act;
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CUSIP No. 368145108 13G Page 13 of 18 Pages
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(i) / / A church plan that is excluded from the
definition of an investment company under Section
3(c)(14) of the Investment Company Act;
(j) / / Group, in accordance with Rule
13d-1(b)(1)(ii)(J).
If this statement is filed pursuant to Rule 13d-1(c),
check this box. /X/
ITEM 4. Ownership:
(a) Amount Beneficially Owned:
See Item 9 of each cover page
(b) Percent of Class:
See Item 11 of each cover page
(c) Number of shares as to which such persons has:
(i) sole power to vote or to direct the vote:
See Item 5 of each cover page
(ii) shared power to vote or to direct the vote:
See Item 6 of each cover page
(iii) sole power to dispose or to direct the disposition of:
See Item 7 of each cover page
(iv) shared power to dispose or to direct the disposition
of:
See Item 8 of each cover page
ITEM 5. Ownership of Five Percent or Less of a Class: N/A
If this statement is being filed to report the fact that as of
the date hereof the reporting person has ceased to be the
beneficial owner of more than five percent of the class of
securities, check the following [ ].
INSTRUCTION. Dissolution of a group requires a response
to this item.
ITEM 6. Ownership of More than Five Percent on Behalf of Another Person:
See footnotes to each cover page
ITEM 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on by the Parent Holding Company:
ITEM 8. Identification and Classification of Members of the Group: N/A
ITEM 9. Notice of Dissolution of Group: N/A
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CUSIP No. 368145108 13G Page 14 of 18 Pages
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ITEM 10. Certifications.
By signing below, I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are not held for
the purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
The filing of this statement shall not be construed as an admission
that the reporting person is, for purposes of Section 13(d) or 13(g) of the Act
or for any other purpose, the beneficial owner of all of the securities covered
by this statement.
SIGNATURE
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.
Dated: February 14, 2000 RESURGENCE ASSET MANAGEMENT,
INTERNATIONAL, L.L.C.
By: /s/ James B. Rubin
--------------------------------------
James B. Rubin, Manager
RE/ENTERPRISE ASSET MANAGEMENT, L.L.C.
By: /s/ James B. Rubin
--------------------------------------
James B. Rubin, Manager
M.D. SASS PARALLAX PARTNERS, L.P.
By: MDS GPU, L.L.C.
By: /s/ Martin D. Sass
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Martin D. Sass, Manager
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CUSIP No. 368145108 13G Page 15 of 18 Pages
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DEVONSHIRE CAPITAL PARTNERS, L.L.C.
By: /s/ James B. Rubin
--------------------------------------
James B. Rubin, Member
J.B. RUBIN & COMPANY PROFIT SHARING
PLAN
By: /s/ James B. Rubin
-----------------------------------
James B. Rubin, Trustee
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CUSIP No. 368145108 13G Page 16 of 18 Pages
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EXHIBIT INDEX TO SCHEDULE 13G
GAYLORD CONTAINER CORP.
EXHIBIT 1
Agreement between Resurgence Asset Management International, L.L.C. ("RAMI"),
Re/Enterprise Asset Management, L.L.C. ("REAM"), M.D. Sass Parallax Partners,
L.P. ("Parallax"), Devonshire Capital Partners, L.L.C. ("Devonshire") and J.B.
Rubin & Company Profit Sharing Plan (the "Plan").
EXHIBIT 2
Disclaimer of beneficial ownership by RAMI and REAM.
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CUSIP No. 368145108 13G Page 17 of 18 Pages
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EXHIBIT 1
AGREEMENT AS TO JOINT FILING OF SCHEDULE 13G
Each of the undersigned hereby affirms that it is individually eligible to use
Schedule 13G, and agrees that this Schedule 13G is filed on its behalf.
Dated: February 14, 2000
RESURGENCE ASSET MANAGEMENT
INTERNATIONAL, L.L.C.
By: /s/ James B. Rubin
--------------------------------------
James B. Rubin, Manager
RE/ENTERPRISE ASSET MANAGEMENT, L.L.C.
By: /s/ James B. Rubin
--------------------------------------
James B. Rubin, Manager
M.D. SASS PARALLAX PARTNERS, L.P.
By: MDS GPU, L.L.C.
By: /s/ Martin D. Sass
--------------------------------------
Martin D. Sass, Manager
DEVONSHIRE CAPITAL PARTNERS, L.L.C.
By: /s/ James B. Rubin
--------------------------------------
James B. Rubin, Member
J.B. RUBIN & COMPANY PROFIT SHARING
PLAN
By: /s/ James B. Rubin
-----------------------------------
James B. Rubin, Trustee
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CUSIP No. 368145108 13G Page 17 of 18 Pages
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EXHIBIT 2
DISCLAIMER OF BENEFICIAL OWNERSHIP
Each of the undersigned disclaims beneficial ownership of the securities
referred to in the Schedule 13G to which this exhibit is attached, and the
filing of this Schedule 13G shall not be construed as an admission that any of
the undersigned is, for the purpose of Section 13(d) or 13(g) of the Securities
Exchange Act of 1934, as amended, the beneficial owner of any securities covered
by this Schedule 13G.
Dated: February 14, 2000
RESURGENCE ASSET MANAGEMENT
INTERNATIONAL, L.L.C.
By: /s/ James B. Rubin
--------------------------------------
James B. Rubin, Manager
RE/ENTERPRISE ASSET MANAGEMENT, L.L.C.
By: /s/ James B. Rubin
--------------------------------------
James B. Rubin, Manager
