<PAGE> 1
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
Amendment No.1 on Form 13D
WESTCORP
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $1.00 Par Value
- --------------------------------------------------------------------------------
(Title of Class of Securities)
957907108
- --------------------------------------------------------------------------------
(CUSIP Number)
ERNEST S. RADY
President
23 Pasteur
Irvine, California 92718-3804
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
May 31, 1988
- --------------------------------------------------------------------------------
(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 [x].
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 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).
Continued on following page(s))
Page 1 of 26 Pages
<PAGE> 2
CUSIP NO. 957907108 13D PAGE 2 OF 26 PAGES
<TABLE>
<S> <C> <C> <C>
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
THE ERNEST S. RADY TRUST
Social Security No. ###-##-####
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS*
PF
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
6 CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
NUMBER OF 7 SOLE VOTING POWER
SHARES SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 9 SOLE DISPOSITIVE POWER
REPORTING SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
PERSON
WITH 10 SHARED DISPOSITIVE POWER
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 63.68% (based on 16,321,282 shares outstanding)
14 TYPE OF REPORTING PERSON*
OO
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 3
CUSIP NO. 957907108 13D PAGE 3 OF 26 PAGES
<TABLE>
<S> <C> <C> <C>
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
EVELYN S. RADY TRUST
Social Security No. ###-##-####
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS*
PF
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
6 CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
NUMBER OF 7 SOLE VOTING POWER
SHARES SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 9 SOLE DISPOSITIVE POWER
REPORTING SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
PERSON
WITH 10 SHARED DISPOSITIVE POWER
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 63.68% (based on 16,321,282 shares outstanding)
14 TYPE OF REPORTING PERSON*
OO
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 4
CUSIP NO. 957907108 13D PAGE 4 OF 26 PAGES
<TABLE>
<S> <C> <C> <C>
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
AVRETT ENTERPRISES, LTD.
I.R.S. ID NO. (No I.R.S. ID No. as it is a Canadian corporation)
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS*
WC
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
6 CITIZENSHIP OR PLACE OF ORGANIZATION
CANADA
NUMBER OF 7 SOLE VOTING POWER
SHARES SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 9 SOLE DISPOSITIVE POWER
REPORTING SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
PERSON
WITH 10 SHARED DISPOSITIVE POWER
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 63.68% (based on 16,321,282 shares outstanding)
14 TYPE OF REPORTING PERSON*
CO
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 5
CUSIP NO. 957907108 13D PAGE 5 OF 26 PAGES
<TABLE>
<S> <C> <C> <C>
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
SILPIT INDUSTRIES CO., LTD.
I.R.S. ID NO. (No I.R.S. ID No. as it is a Canadian corporation)
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS*
WC
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
6 CITIZENSHIP OR PLACE OF ORGANIZATION
CANADA
NUMBER OF 7 SOLE VOTING POWER
SHARES SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 9 SOLE DISPOSITIVE POWER
REPORTING SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
PERSON
WITH 10 SHARED DISPOSITIVE POWER
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 63.68% (based on 16,321,282 shares outstanding)
14 TYPE OF REPORTING PERSON*
CO
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 6
CUSIP NO. 957907108 13D PAGE 6 OF 26 PAGES
<TABLE>
<S> <C> <C> <C>
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
MEMRAD HOLDINGS, LTD.
I.R.S. ID NO. (No I.R.S. ID No. as it is a Canadian corporation)
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS*
WC
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
6 CITIZENSHIP OR PLACE OF ORGANIZATION
CANADA
NUMBER OF 7 SOLE VOTING POWER
SHARES SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 9 SOLE DISPOSITIVE POWER
REPORTING SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
PERSON
WITH 10 SHARED DISPOSITIVE POWER
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 63.68% (based on 16,321,282 shares outstanding)
14 TYPE OF REPORTING PERSON*
CO
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 7
CUSIP NO. 957907108 13D PAGE 7 OF 26 PAGES
<TABLE>
<S> <C> <C> <C>
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
AMERICAN ASSETS, INC.
I.R.S. ID NO. 95-249-3347
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS*
WC
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
6 CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
NUMBER OF 7 SOLE VOTING POWER
SHARES SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 9 SOLE DISPOSITIVE POWER
REPORTING SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
PERSON
WITH 10 SHARED DISPOSITIVE POWER
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 63.68% (based on 16,321,282 shares outstanding)
14 TYPE OF REPORTING PERSON*
CO
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 8
CUSIP NO. 957907108 13D PAGE 8 OF 26 PAGES
<TABLE>
<S> <C> <C> <C>
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
SORB HOLDINGS, INC.
I.R.S. ID NO. 33-0013526
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS*
WC
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
6 CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
NUMBER OF 7 SOLE VOTING POWER
SHARES SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 9 SOLE DISPOSITIVE POWER
REPORTING SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
PERSON
WITH 10 SHARED DISPOSITIVE POWER
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 63.68% (based on 16,321,282 shares outstanding)
14 TYPE OF REPORTING PERSON*
CO
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 9
CUSIP NO. 957907108 13D PAGE 9 OF 26 PAGES
<TABLE>
<S> <C> <C> <C>
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CANPAC ENTERPRISES, LTD.
I.R.S. ID NO. (No I.R.S. ID No. as it is a Canadian corporation)
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS*
WC
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
6 CITIZENSHIP OR PLACE OF ORGANIZATION
CANADA
NUMBER OF 7 SOLE VOTING POWER
SHARES SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 9 SOLE DISPOSITIVE POWER
REPORTING SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
PERSON
WITH SHARED DISPOSITIVE POWER
10
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 63.68% (based on 16,321,282 shares outstanding)
14 TYPE OF REPORTING PERSON*
CO
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 10
CUSIP NO. 957907108 13D PAGE 10 OF 26 PAGES
<TABLE>
<S> <C> <C> <C>
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
WESTERN INSURANCE HOLDINGS, INC.
I.R.S. ID NO. 95-2890041
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS*
WC
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
6 CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
NUMBER OF 7 SOLE VOTING POWER
SHARES SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 9 SOLE DISPOSITIVE POWER
REPORTING SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
PERSON
WITH 10 SHARED DISPOSITIVE POWER
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 63.68% (based on 16,321,282 shares outstanding)
14 TYPE OF REPORTING PERSON*
IC
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 11
CUSIP NO. 957907108 13D PAGE 11 OF 26 PAGES
<TABLE>
<S> <C> <C> <C>
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
INSURANCE COMPANY OF THE WEST
I.R.S. ID NO. 95-2769232
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS*
WC
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
6 CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
NUMBER OF 7 SOLE VOTING POWER
SHARES SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 9 SOLE DISPOSITIVE POWER
REPORTING SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
PERSON
WITH 10 SHARED DISPOSITIVE POWER
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 63.68% (based on 16,321,282 shares outstanding)
14 TYPE OF REPORTING PERSON*
IC
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 12
CUSIP NO. 957907108 13D PAGE 12 OF 26 PAGES
<TABLE>
<S> <C> <C> <C>
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
EXPLORER INSURANCE COMPANY
I.R.S. ID NO. 94-2784519
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS*
WC
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
6 CITIZENSHIP OR PLACE OF ORGANIZATION
ARIZONA
NUMBER OF 7 SOLE VOTING POWER
SHARES PLEASE SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 9 SOLE DISPOSITIVE POWER
REPORTING PLEASE SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
PERSON
WITH 10 SHARED DISPOSITIVE POWER
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
PLEASE SEE ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 63.68% (based on 16,321,282 shares outstanding)
14 TYPE OF REPORTING PERSON*
IC
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 13
ITEM 1. SECURITY AND ISSUER.
Common Stock, $1.00 par value
WESTCORP
23 Pasteur Road
Irvine, CA 92718-3804
ITEM 2. IDENTITY AND BACKGROUND.
ERNEST S. RADY TRUST
(a) Ernest S. Rady Trust, Ernest S. Rady, Trustee
(b) The Trust's principal business address is:
10140 Campus Point Drive
San Diego, California 92121
Attn: Ernest S. Rady, Trustee
(c) Mr. Rady, the Trustee of the above referenced trust is the Chairman,
President and Chief Executive Officer of the Issuer and is an
executive officer and/or director of many of the reporting parties
included in this Schedule 13D.
(d) Current conviction during the last five years: None
(e) Securities laws proceedings: None.
(f) Citizenship: CANADA
EVELYN S. RADY TRUST
(a) Evelyn S. Rady Trust, Ernest S. Rady, Trustee
(b) The Trust's principal business address is:
10140 Campus Point Drive
San Diego, California 92121
Attn: Ernest S. Rady, Trustee
(c) Mr. Rady, the Trustee of the above referenced trust is the Chairman,
President and Chief Executive Officer of the Issuer and is an
executive officer and/or director of many of the reporting parties
included in this Schedule 13D.
(d) Current conviction during the last five years: None
(e) Securities laws proceedings: None
(f) Citizenship: CANADA
AVRETT ENTERPRISES, LTD.
(a) Avrett Enterprises, Ltd.
(b) The principal business address is:
Avrett Enterprises, Ltd.
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
(c) Current conviction during the last five years: None
(d) Securities laws proceedings: None
Page 13 of 26 Pages
<PAGE> 14
(e) Canadian corporation.
SILPIT INDUSTRIES CO., LTD.
(a) Silpit Industries Co., Ltd.
(b) The principal business address is:
Silpit Industries Co., Ltd.
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
(c) California corporation.
(d) Securities Laws proceedings: None
MEMRAD HOLDINGS, LTD.
(a) Memrad Holdings, Ltd.
(b) The principal business address is:
Memrad Holdings, Ltd.
203-213 Notre Dame Avenue
Winnipeg, Manitoba
Canada R3B 1N3
(c) Canadian corporation.
(d) Securities Laws proceedings: None
AMERICAN ASSETS, INC.
(a) American Assets, Inc.
(b) The principal business address is:
American Assets, Inc.
10140 Campus Point Drive
San Diego, CA 92121
(c) California corporation.
(d) Securities Laws proceedings: None
SORB HOLDINGS, INC.
(a) Sorb Holdings, Inc.
(b) The principal business address is:
Sorb Holdings, Inc.
10140 Campus Point Drive
San Diego, CA 92121
(c) Canadian corporation.
(d) Securities Laws proceedings: None
CANPAC ENTERPRISES, LTD.
(a) Canpac Enterprises, Ltd.
(b) The principal business address is:
Page 14 of 26 Pages
<PAGE> 15
Canpac Enterprises, Ltd.
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
(c) Canadian corporation.
(d) Securities Laws proceedings: None
WESTERN INSURANCE HOLDINGS, INC.
(a) Western Insurance Holdings, Inc.
(b) The principal business address is:
Western Insurance Holdings, Inc.
10140 Campus Point Drive
San Diego, CA 92121
(c) California corporation.
(d) Securities Laws proceedings: None
INSURANCE COMPANY OF THE WEST
(a) Insurance Company of the West
(b) The principal business address is:
Insurance Company of the West
10140 Campus Point Drive
San Diego, CA 92121
(c) California corporation.
(d) Securities Laws proceedings: None
EXPLORER INSURANCE COMPANY
(a) Explorer Insurance Company
(b) The principal business address is:
Explorer Insurance Company
10140 Campus Point Drive
San Diego, CA 92121
(c) Arizona corporation.
(d) Securities Laws proceedings: None
Identification of Members of the Group
The Ernest S. Rady Trust
(a) Ernest S. Rady, Trustee
Evelyn Shirley Rady
(a) Ernest S. Rady, Trustee
Page 15 of 26 Pages
<PAGE> 16
Avrett Enterprises, Ltd.
(a) Avrett Enterprises, Ltd.
<TABLE>
<CAPTION>
Names and Addresses of Officers Title
------------------------------- -----
and Directors as of May 31, 1988
--------------------------------
<S> <C>
Sylvia Silverberg President, Director
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
Evelyn Rady Vice President, Director
1820 La Jolla Rancho Road
La Jolla, CA 92037
Nora Kaufman Secretary, Treasurer, Director
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
</TABLE>
Silpit Industries Co., Ltd.
<TABLE>
<CAPTION>
Names and Addresses of Officers Title
------------------------------- -----
and Directors as of May 31, 1988
--------------------------------
<S> <C> <C>
(a) Silpit Industries Co., Ltd.
David S. Kaufman President, Director
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
G.L. Stoddart Vice President
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
Nora Kaufman Secretary, Treasurer, Director
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
Evelyn Rady Director
1820 La Jolla Rancho Road
La Jolla, CA 92037
</TABLE>
Page 16 of 26 Pages
<PAGE> 17
<TABLE>
<S> <C>
Sylvia Silverberg Director
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
Allan Kaufman Director
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
</TABLE>
Memrad Holdings, Ltd.
<TABLE>
<CAPTION>
Names and Addresses of Officers Title
------------------------------- -----
and Directors as of May 31, 1988
--------------------------------
<S> <C> <C>
(a) Memrad Holdings, Ltd.
Ernest S. Rady President, Director
1820 La Jolla Rancho Road
La Jolla, CA 92037
Marjorie Blankstein Vice President, Director
203-213 Notre Dame Avenue
Winnipeg, Manitoba
Canada R3B 1N3
Morley Blankstein Vice President
203-213 Notre Dame Avenue
Winnipeg, Manitoba
Canada R3B 1N3
Mindel Olenick Secretary, Treasurer, Director
203-213 Notre Dame Avenue
Winnipeg, Manitoba
Canada R3B 1N3
Thomas Z. Olenick Vice President
203-213 Notre Dame Avenue
Winnipeg, Manitoba
Canada R3B 1N3
Norman Edwards Assistant Secretary
203-213 Notre Dame Avenue
Winnipeg, Manitoba
Canada R3B 1N3
</TABLE>
Page 17 of 26 Pages
<PAGE> 18
American Assets, Inc.
(a) American Assets, Inc., a California corporation
<TABLE>
<CAPTION>
Names and Addresses of Officers Title
------------------------------- -----
and Directors as of May 31, 1988
--------------------------------
<S> <C>
Ernest S. Rady Chairman, Director
1820 La Jolla Rancho Road
La Jolla, CA 92037
Jeffrey B. Davis President, Director
10140 Campus Point Drive
San Diego, CA 92121
Joanne Torres Secretary, Vice President
10140 Campus Point Drive
San Diego, CA 92121
Mark Singerman Vice President
10140 Campus Point Drive
San Diego, CA 92121
Allen Garrett Vice President
10140 Campus Point Drive
San Diego, CA 92121
Dan E. Cotton Chief Financial Officer, Director
10140 Campus Point Drive
San Diego, CA 92121
</TABLE>
Sorb Holdings, Inc.
<TABLE>
<CAPTION>
Names and Addresses of Officers Title
------------------------------- -----
and Directors as of May 31, 1988
--------------------------------
<S> <C> <C>
(a) Sorb Holdings, Inc.
Ernest S. Rady President, Director
1820 La Jolla Rancho Road
La Jolla, CA 92037
Douglas J. Peacher Director
10140 Campus Point Drive
San Diego, CA 92121
</TABLE>
Page 18 of 26 Pages
<PAGE> 19
<TABLE>
<S> <C>
Jeffrey B. Davis Director
10140 Campus Point Drive
San Diego, CA 92121
Dan E. Cotton Secretary, Chief Financial Officer, Director
10140 Campus Point Drive
San Diego, CA 92121
</TABLE>
Canpac Enterprises, Ltd.
(a) Canpac Enterprises, Ltd.
<TABLE>
<CAPTION>
Names and Addresses of Officers Title
------------------------------- -----
and Directors as of May 31, 1988
--------------------------------
<S> <C>
Ernest S. Rady President, Director
1820 La Jolla Rancho Road
La Jolla, CA 92037
Nora Kaufman Vice President, Director
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
David Kaufman Secretary, Director
70 Arthur Street
Winnipeg, Manitoba
Canada R3B 1G7
Evelyn Rady Treasurer, Director
1820 La Jolla Rancho Road
La Jolla, CA 92037
</TABLE>
Western Insurance Holdings, Inc.
<TABLE>
<CAPTION>
Names and Addresses of Officers Title
------------------------------- -----
and Directors as of May 31, 1988
--------------------------------
<S> <C> <C>
(a) Western Insurance Holdings, Inc.
Ernest S. Rady Chairman of the Board
1820 La Jolla Rancho Road
La Jolla, CA 92037
Bernard M. Feldman President, Director
10140 Campus Point Drive
San Diego, CA 92121
</TABLE>
Page 19 of 26 Pages
<PAGE> 20
<TABLE>
<S> <C>
Richard S. King Secretary, Director
10140 Campus Point Drive
San Diego, CA 92121
H. Michael Freet Treasurer, Director
10140 Campus Point Drive
San Diego, CA 92121
</TABLE>
Insurance Company of the West
(a) Insurance Company of the West
<TABLE>
<CAPTION>
Names and Addresses of Officers Title
------------------------------- -----
and Directors as of May 31, 1988
--------------------------------
<S> <C>
Ernest S. Rady Chairman of the Board, Director
1820 La Jolla Rancho Road
La Jolla, CA 92037
Bernard M. Feldman President, Director
10140 Campus Point Drive
San Diego, CA 92121
Richard S. King Executive Vice President, Director
10140 Campus Point Drive
San Diego, CA 92121
Michael F. McAuliffe Director
10140 Campus Point Drive
San Diego, CA 92121
Bruce N. Moore Director
10140 Campus Point Drive
San Diego, CA 92121
Robert A. Nelson Director
10140 Campus Point Drive
San Diego, CA 92121
Douglas J. Peacher Director
10140 Campus Point Drive
San Diego, CA 92121
James B. Rathbun Director
10140 Campus Point Drive
San Diego, CA 92121
Herbert J. Solomon Director
</TABLE>
Page 20 of 26 Pages
<PAGE> 21
<TABLE>
<S> <C>
10140 Campus Point Drive
San Diego, CA 92121
H. Michael Freet Senior Vice President,
10140 Campus Point Drive Treasurer
San Diego, CA 92121
John L. Hannum Senior Vice President
10140 Campus Point Drive
San Diego, CA 92121
James Currie Senior Vice President
10140 Campus Point Drive
San Diego, CA 92121
James Austin Secretary
10140 Campus Point Drive
San Diego, CA 92121
</TABLE>
Explorer Insurance Company
(a) Explorer Insurance Company
<TABLE>
<CAPTION>
Names and Addresses of Officers Title
------------------------------- -----
and Directors as of May 31, 1988
--------------------------------
<S> <C>
Ernest S. Rady Chairman, Director
1820 La Jolla Rancho Road
La Jolla, CA 92037
Bernard M. Feldman President, Director
10140 Campus Point Drive
San Diego, CA 92121
Richard S. King Assistant Secretary, Director
10140 Campus Point Drive
San Diego, CA 92121
Walter M. Prayer Vice President
10140 Campus Point Drive
San Diego, CA 92121
James Austin Secretary
10140 Campus Point Drive
San Diego, CA 92121
</TABLE>
Page 21 of 26 Pages
<PAGE> 22
<TABLE>
<S> <C>
H. Michael Freet Treasurer
10140 Campus Point Drive
San Diego, CA 92121
</TABLE>
ITEM 3. SOURCE AND AMOUNT OF FUNDS AND OTHER CONSIDERATION.
The consideration paid for the securities purchased was cash from
working capital.
ITEM 4. PURPOSE OF TRANSACTION.
Investment
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
This filing is for the cumulative share holdings of an affiliated
group as of the close of business on May 31, 1988. The various entities named
in this Schedule 13D directly or indirectly collectively owned, as of such
date, 10,488,611 outstanding shares of Common Stock of the Issuer, representing
63.68% of the outstanding shares of Common Stock of the Issuer. Exhibit A
attached hereto and incorporated by this reference herein depicts the
relationship among the various affiliated companies in the "Rady" group. There
is no formal agreement to vote or dispose of the shares of the Issuer in a
particular manner. The dispositive and voting power of each of the trusts and
companies shown on Schedule A is made independent of the other, except to the
extent that Mr. and Mrs. Rady may be shareholders, officers and/or directors of
the various companies and in that respect are able to control disposition and
voting of the shares of the Issuer owned by each such company.
Transactions occurring in the most recent 60 days were acquisitions of
securities of the Issuer made by Insurance Company of the West as follows:
<TABLE>
<S> <C> <C>
1. 03/16/88 200
2. 03/18/88 700
3. 03/21/88 400
4. 03/22/88 1,700
5. 03/23/88 85,000
6. 04/06/88 600
7. 04/07/88 3,300
8. 04/08/88 15,000
9. 04/13/88 10,400
10. 04/14/88 8,100
11. 04/29/88 54,000
12. 05/02/88 9,200
13. 05/05/88 150,000
14. 05/31/88 62,400
</TABLE>
The above transactions reflect purchases of the securities on the open
market via the facilities of the American Stock Exchange and were made at
varying market prices.
Page 22 of 26 Pages
<PAGE> 23
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
SEE DISCUSSION UNDER ITEM 6 ABOVE
Additionally, pursuant to the provisions of the Ernest S. Rady Trust
and the Evelyn S. Rady Trust, Ernest S. Rady, as trustee, has the power to
sell, buy, retain, invest and reinvest the trusts' assets, which include the
shares of the Issuer's Common Stock.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
NONE
Page 23 of 26 Pages
<PAGE> 24
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.
<TABLE>
<S> <C>
Dated: 12/21/95 /s/ ERNEST S. RADY
--------------------- -----------------------------------------------------------
Ernest S. Rady, as trustee of the Ernest S. Rady Trust
Dated: 12/21/95 /s/ ERNEST S. RADY
--------------------- -----------------------------------------------------------
Ernest S. Rady, as trustee of the Evelyn Shirley Rady
American Assets, Inc.
Dated: 12/21/95 By: /s/ ERNEST S. RADY
--------------------- ------------------------------------------------------
Ernest S. Rady, President
Avrett Enterprises, Ltd.
Dated: 12/21/95 By: /s/ EVELYN RADY
--------------------- ------------------------------------------------------
Evelyn Rady, Vice President
Canpac Enterprises, Ltd.
Dated: 12/21/95 By: /s/ ERNEST S. RADY
--------------------- ------------------------------------------------------
Ernest S. Rady, President
Insurance Company of the West
Dated: 12/21/95 By: /s/ ERNEST S. RADY
--------------------- ------------------------------------------------------
Ernest S. Rady, President
Memrad Holdings, Ltd.
Dated: 12/21/95 By: /s/ ERNEST S. RADY
--------------------- ------------------------------------------------------
Ernest S. Rady, President
</TABLE>
Page 24 of 26 Pages
<PAGE> 25
<TABLE>
<S> <C>
Silpit Industries Co., Ltd.
Dated: 12/21/95 By: /s/ EVELYN RADY
--------------------- ------------------------------------------------------
Evelyn Rady, Director
Sorb Holdings, Inc.
Dated: 12/21/95 By: /s/ ERNEST S. RADY
--------------------- ------------------------------------------------------
Ernest S. Rady, President
Western Insurance Holdings, Inc.
Dated: 12/21/95 By: /s/ ERNEST S. RADY
--------------------- ------------------------------------------------------
Ernest S. Rady, President
Explorer Insurance Inc.
Dated: 12/21/95 By: /s/ ERNEST S. RADY
--------------------- ------------------------------------------------------
Ernest S. Rady, Chairman
</TABLE>
Page 25 of 26 Pages
<PAGE> 26
Exhibit A
Organizational Chart of Rady Entities Beneficially
Holding Shares in Westcorp as of 5/31/88
--------------------------
/ Ernest and Evelyn Rady /
--------------------------
/
--------------------------------------------------------
/ 50% C / / / / /50% C
--- / / / / ------
CSC / / / / Avrett
--- / / / / ------
/ 1% C / / / /
/ / / / 25.9% C / 35.9% C
/ 50.7% C / / / / /
/ / 50% C / / ------
------ / / / ----------- Silpit
Summit ---- / 50% C ------
------ / / /
/ / / / 20.5% C
/ / / /
/ 100% P / / ------
/ / / Canpac
------- ---------------- / ------
Memrad* ---------------------------------------------- /
------- / / /
/ 96% P / /-- 30.95% C / 16.74% C
/ / / /
-------- -------------------------- ------
American ------------------------ 52.03% C -------------- Sorb**
-------- ------
/
/ 60% C
/
--------
Westcorp
--------
* Union Assets Ltd. was merged into Memrad Holdings Ltd. effective November 30,
1986.
** Insurance Company of the West and Western Insurance Holdings, Inc. are
subsidiaries of Sorb Holdings, Inc. but no longer hold a direct or indirect
interest in Westcorp.
Page 26 of 26 Pages
