<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 22)
READING & BATES CORPORATION
---------------------------
(Name of Issuer)
Common Stock, $.05 par value
----------------------------
(Title of Class of Securities)
755281 70 6
-----------
(CUSIP Number)
Paul B. Loyd, Jr.
901 Threadneedle, Suite 200
Houston, Texas 77079
(713) 496-5000
--------------------------------------
(Name, address and telephone number of person authorized
to receive notices and communications)
November 15, 1994
--------------------------------------
(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 this statement: / /
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CUSIP NO. 755281 70 6 Page 2 of 28 Pages
- ---------------------- -------------------
- -------------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
BCL Investment Partners, L.P.
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) / /
(b) /x/
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Source of Funds
AF, BK
- --------------------------------------------------------------------------------
5. Check Box if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e) / /
- --------------------------------------------------------------------------------
6. Citizenship or Place of Organization
Delaware
- --------------------------------------------------------------------------------
Number of 7. Sole Voting Power
Shares 0
Beneficially 8. Shared Voting Power
Owned by 0
Each Reporting 9. Sole Dispositive Power
Person With 0
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
____
- --------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
0%
- --------------------------------------------------------------------------------
14. Type of Reporting Person
PN
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
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CUSIP NO. 755281 70 6 Page 3 of 28 Pages
- ---------------------- -------------------
- -------------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Life Line Investments Ltd.
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) / /
(b) /x/
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Source of Funds
BK, AF
- --------------------------------------------------------------------------------
5. Check Box if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e) / /
- --------------------------------------------------------------------------------
6. Citizenship or Place of Organization
Liberia
- --------------------------------------------------------------------------------
Number of 7. Sole Voting Power
Shares 3,771,054
Beneficially 8. Shared Voting Power
Owned by 0
Each Reporting 9. Sole Dispositive Power
Person With 3,771,054
10. Shared Dispositive Power
0
- --------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
3,771,054
- --------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
____
- --------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
6.3%
- --------------------------------------------------------------------------------
14. Type of Reporting Person
CO
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
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CUSIP NO. 755281 70 6 Page 4 of 28 Pages
- ---------------------- -------------------
- -------------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Dedicated Holdings Ltd.
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) / /
(b) /x/
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Source of Funds
BK, AF
- --------------------------------------------------------------------------------
5. Check Box if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e) / /
- --------------------------------------------------------------------------------
6. Citizenship or Place of Organization
Liberia
- -----------------------------------------------
Number of 7. Sole Voting Power
Shares 6,734
Beneficially 8. Shared Voting Power
Owned by 0
Each Reporting 9. Sole Dispositive Power
Person With 6,734
10. Shared Dispositive Power
0
- --------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
6,734
- --------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
____
- --------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
0%
- --------------------------------------------------------------------------------
14. Type of Reporting Person
CO
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
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CUSIP NO. 755281 70 6 Page 5 of 28 Pages
- ---------------------- -------------------
- -------------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Financial Investments Ltd.
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) / /
(b) /x/
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Source of Funds
BK, AF
- --------------------------------------------------------------------------------
5. Check Box if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e) / /
- --------------------------------------------------------------------------------
6. Citizenship or Place of Organization
Liberia
- --------------------------------------------------------------------------------
Number of 7. Sole Voting Power
Shares 1,469,242
Beneficially 8. Shared Voting Power
Owned by 0
Each Reporting 9. Sole Dispositive Power
Person With 1,469,242
10. Shared Dispositive Power
0
- --------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
1,469,242
- --------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
____
- --------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
2.5%
- --------------------------------------------------------------------------------
14. Type of Reporting Person
CO
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
<PAGE>
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CUSIP NO. 755281 70 6 Page 6 of 28 Pages
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1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Greenwing Investments, Inc.
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) / /
(b) /x/
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Source of Funds
BK
- --------------------------------------------------------------------------------
5. Check Box if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e) / /
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6. Citizenship or Place of Organization
Delaware
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Number of 7. Sole Voting Power
Shares 1,352,491 (1,327,271 held of record by Greenwing Ltd.)
Beneficially 8. Shared Voting Power
Owned by 0
Each Reporting 9. Sole Dispositive Power
Person With 1,352,491 (1,327,271 held of record by Greenwing Ltd.)
10. Shared Dispositive Power
0
- --------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
1,352,491
- --------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
____
- --------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
2.3%
- --------------------------------------------------------------------------------
14. Type of Reporting Person
CO
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- --------------------------------------------------------------------------------
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CUSIP NO. 755281 70 6 Page 7 of 28 Pages
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1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
N & M Holding N.V.
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) / /
(b) /x/
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Source of Funds
BK, AF
- --------------------------------------------------------------------------------
5. Check Box if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e) / /
- --------------------------------------------------------------------------------
6. Citizenship or Place of Organization
Netherlands Antilles
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Number of 7. Sole Voting Power
Shares 5,066,352
Beneficially 8. Shared Voting Power
Owned by 0
Each Reporting 9. Sole Dispositive Power
Person With 5,066,352
10. Shared Dispositive Power
0
- --------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
5,066,352
- --------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
____
- --------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
8.5%
- --------------------------------------------------------------------------------
14. Type of Reporting Person
CO
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- --------------------------------------------------------------------------------
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CUSIP NO. 755281 70 6 Page 8 of 28 Pages
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1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Workships Intermediaries N.V.
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) / /
(b) /x/
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Source of Funds
BK, AF
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5. Check Box if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e) / /
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6. Citizenship or Place of Organization
Netherlands Antilles
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Number of 7. Sole Voting Power
Shares 1,842,425
Beneficially 8. Shared Voting Power
Owned by 0
Each Reporting 9. Sole Dispositive Power
Person With 1,842,425
10. Shared Dispositive Power
0
- --------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
1,842,425
- --------------------------------------------------------------------------------
12. Check if the 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
CO
- --------------------------------------------------------------------------------
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CUSIP NO. 755281 70 6 Page 9 of 28 Pages
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1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Incomare Holdings, Inc.
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) / /
(b) /x/
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Source of Funds
BK, AF
- --------------------------------------------------------------------------------
5. Check Box if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e) / /
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6. Citizenship or Place of Organization
Panama
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Number of 7. Sole Voting Power
Shares 1,610,999
Beneficially 8. Shared Voting Power
Owned by 0
Each Reporting 9. Sole Dispositive Power
Person With 1,610,999
10. Shared Dispositive Power
0
- --------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
1,610,999
- --------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
____
- --------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
2.7%
- --------------------------------------------------------------------------------
14. Type of Reporting Person
CO
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<PAGE>
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CUSIP NO. 755281 70 6 Page 10 of 28 Pages
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- -------------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Torarica N.V.
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) / /
(b) /x/
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Source of Funds
BK, AF
- --------------------------------------------------------------------------------
5. Check Box if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e)
- --------------------------------------------------------------------------------
6. Citizenship or Place of Organization
Netherlands Antilles
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Number of 7. Sole Voting Power
Shares 146,454
Beneficially 8. Shared Voting Power
Owned by 0
Each Reporting 9. Sole Dispositive Power
Person With 146,454
10. Shared Dispositive Power
0
- --------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
146,454
- --------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
____
- --------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
0.2%
- --------------------------------------------------------------------------------
14. Type of Reporting Person
CO
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CUSIP NO. 755281 70 6 Page 11 of 28 Pages
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1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Forreal Ltd.
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) /x/
(b) / /
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Source of Funds
BK, AF
- --------------------------------------------------------------------------------
5. Check Box if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e) / /
- --------------------------------------------------------------------------------
6. Citizenship or Place of Organization
Jersey, Channel Islands
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Number of 7. Sole Voting Power
Shares 73,227
Beneficially 8. Shared Voting Power
Owned by 0
Each Reporting 9. Sole Dispositive Power
Person With 73,227
10. Shared Dispositive Power
0
- --------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
73,227
- --------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
____
- --------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
0.1%
- --------------------------------------------------------------------------------
14. Type of Reporting Person
CO
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CUSIP NO. 755281 70 6 Page 12 of 28 Pages
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- -------------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
RBY, Ltd.
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) / /
(b) /x/
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Source of Funds
AF
- --------------------------------------------------------------------------------
5. Check Box if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e) / /
- --------------------------------------------------------------------------------
6. Citizenship or Place of Organization
Delaware
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Number of 7. Sole Voting Power
Shares 2,517,409
Beneficially 8. Shared Voting Power
Owned by 0
Each Reporting 9. Sole Dispositive Power
Person With 2,517,409
10. Shared Dispositive Power
0
- --------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
2,517,409
- --------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
____
- --------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
4.2%
- --------------------------------------------------------------------------------
14. Type of Reporting Person
PN
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
<PAGE>
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CUSIP NO. 755281 70 6 Page 13 of 28 Pages
- ---------------------- -------------------
- -------------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Paul B. Loyd, Jr.
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) / /
(b) /x/
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Source of Funds
BK, OO
- --------------------------------------------------------------------------------
5. Check Box if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e) / /
- --------------------------------------------------------------------------------
6. Citizenship or Place of Organization
United States
- --------------------------------------------------------------------------------
Number of 7. Sole Voting Power - 1,459,291, of which 1,327,271 shares are
Shares registered in the name of Greenwing Ltd. and 25,220 are
Beneficially registered in the name of Greenwing Investments, Inc.
Owned by
Each Reporting 8. Shared Voting Power - 0
Person With
9. Sole Dispositive Power - 1,459,291, of which 1,327,271
shares are registered in the name of Greenwing Ltd. and
25,220 are registered in the name of Greenwing Investments,
Inc.
10. Shared Dispositive Power - 0
- --------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
1,459,291
- --------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
____
- --------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
2.4%
- --------------------------------------------------------------------------------
14. Type of Reporting Person
IN
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
<PAGE>
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CUSIP NO. 755281 70 6 Page 14 of 28 Pages
- ---------------------- -------------------
- -------------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Serife Investments N.V.
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) / /
(b) /x/
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Source of Funds
AF,BK
- --------------------------------------------------------------------------------
5. Check Box if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e) / /
- --------------------------------------------------------------------------------
6. Citizenship or Place of Organization
Netherlands Antilles
- --------------------------------------------------------------------------------
Number of 7. Sole Voting Power
Shares 0
Beneficially 8. Shared Voting Power
Owned by 0
Each Reporting 9. Sole Dispositive Power
Person With 0
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
____
- --------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
0%
- --------------------------------------------------------------------------------
14. Type of Reporting Person
IN
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
<PAGE>
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CUSIP NO. 755281 70 6 Page 15 of 28 Pages
- ---------------------- -------------------
- -------------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Willem Cordia
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) / /
(b) /x/
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Source of Funds
BK,AF
- --------------------------------------------------------------------------------
5. Check Box if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e) / /
- --------------------------------------------------------------------------------
6. Citizenship or Place of Organization
The Netherlands
- --------------------------------------------------------------------------------
Number of 7. Sole Voting Power
Shares 0
Beneficially 8. Shared Voting Power
Owned by 3,453,424
Each Reporting 9. Sole Dispositive Power
Person With 0
10. Shared Dispositive Power
3,453,424
- --------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
3,453,424
- --------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
____
- --------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
5.8%
- --------------------------------------------------------------------------------
14. Type of Reporting Person
IN
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
<PAGE>
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CUSIP NO. 755281 70 6 Page 16 of 28 Pages
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- -------------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Macko Laqueur
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) / /
(b) /x/
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Source of Funds
BK,AF
- --------------------------------------------------------------------------------
5. Check Box if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e) / /
- --------------------------------------------------------------------------------
6. Citizenship or Place of Organization
The Netherlands
- --------------------------------------------------------------------------------
Number of 7. Sole Voting Power
Shares 0
Beneficially 8. Shared Voting Power
Owned by 1,842,425
Each Reporting 9. Sole Dispositive Power
Person With 0
10. Shared Dispositive Power
1,842,425
- --------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
1,842,425
- --------------------------------------------------------------------------------
12. Check if the 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
IN
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
<PAGE>
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CUSIP NO. 755281 70 6 Page 17 of 28 Pages
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 22)
This Amendment No. 22 amends and restates (to the extent required by
applicable regulations) the Schedule 13D (the "Schedule 13D") filed on September
11, 1989 with the Securities and Exchange Commission (as amended by Amendments
No. 1 through No. 21 thereto) by BCL Investment Partners, L.P., a Delaware
limited partnership ("BCL") and the other Reporting Persons listed in Item 2
hereof, regarding their beneficial ownership of shares of common stock, $.05 par
value (the "Common Stock"), of Reading & Bates Corporation (the "Company").
Capitalized terms used herein without being defined herein have the meaning
heretofore given to them in this Schedule 13D.
Item 1. Security and Issuer.
The class of equity securities to which this statement relates is the
common stock, $.05 par value of Reading & Bates Corporation, a Delaware
corporation. The address of the principal executive offices of the Company is
901 Threadneedle, Suite 200, Houston, Texas 77079. To the best knowledge of
the Reporting Persons, as of October 24, 1994, the Company had 59,715,123 shares
of Common Stock outstanding.
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CUSIP NO. 755281 70 6 Page 18 of 28 Pages
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Item 2. Identity and Background.
This statement is being filed on behalf of the following (the
"Reporting Persons") :
1. BCL Investment Partners, L.P., a Delaware limited partnership
("BCL");
2. Life Line Investments Ltd., a Liberia corporation ("LLI");
3. Dedicated Holdings Ltd., a Liberia corporation ("DHL");
4. Financial Investments Ltd., a Liberia corporation ("FIL");
5. Greenwing Investments, Inc., a Delaware corporation
("Greenwing");
6. Serife Investments N.V., a Netherlands Antilles corporation
("Serife")
7. N&M Holding N.V., a Netherlands Antilles corporation ("N&M");
8. Workships Intermediaries, N.V., a Netherlands Antilles
corporation ("Workships");
9. Incomare Holdings, Inc., a Panama corporation ("Incomare");
10. Torarica N.V., a Netherlands Antilles corporation ("Torarica");
11. Forreal Ltd., a Jersey, Channel Island corporation ("Forreal");
12. RBY, Ltd., a Delaware limited partnership ("RBY");
13. Paul B. Loyd, Jr., a citizen of the United States ("Loyd");
14. William Cordia, a citizen of the Netherlands ("Cordia");
15. Macko Laqueur, a citizen of the Netherlands ("Laqueur").
BCL is a limited partnership of which Greenwing, Serife, LLI, DHL and FIL
are the
<PAGE>
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CUSIP NO. 755281 70 6 Page 19 of 28 Pages
- ---------------------- -------------------
general partners and RBY is the limited partner. N&M is an indirect wholly-
owned subsidiary of International Nederlanden Bank N.V. ("ING Bank"). Workships
and Serife are controlled by Laqueur and Cordia. LLI, DHL and FIL are
effectively controlled by Den norske Bank AS ("DNB"). Greenwing is controlled
by Loyd, who is the chairman and chief executive officer of the Company. RBY is
an indirect wholly-owned subsidiary of Chemical Banking Corporation. Incomare
is controlled by Cordia and his family. Torarica is controlled by G. Valkier.
Forreal is controlled by A. Wessels.
The Reporting Persons have heretofore jointly filed this Schedule 13D as
members of a group, by virtue of agreements among them concerning the voting and
disposition of shares of Common Stock. As a result of the events reported in
this Amendment, such agreements have terminated, and the Reporting Persons no
longer constitute a group with respect to beneficial ownership of shares of
Common Stock. Each Reporting Person will hereafter separately file any reports
required to be filed by it pursuant to Section 13 of the Securities Exchange Act
of 1934, as amended, including any amendments to this Schedule 13D insofar as it
relates to such Reporting Person.
Item 3. Source and Amount of Funds or Other Consideration
The shares of Common Stock acquired by Reporting Persons pursuant to the
distribution by BCL described in Item 5 are a portion of the shares of Common
Stock previously acquired by BCL in transactions heretofore described in this
Schedule 13D. The shares of Common Stock held by the Reporting Persons were
acquired through a series of
<PAGE>
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CUSIP NO. 755281 70 6 Page 20 of 28 Pages
- ---------------------- -------------------
transactions involving one or more of the following: (i) purchases of Company
debt, conversion of such debt into Class B stock of the Company, and conversion
of such Class B stock into Common Stock, (ii) purchases of debt of the Company
and conversion of such debt into Common Stock, (iii) purchases of Class B stock
of the Company and conversion of such Class B stock into Common Stock, (iv)
purchases of preferred stock of the Company and conversion of such preferred
stock into Common Stock, and (v) purchases of debt secured by offshore drilling
rigs leased by the Company, and the exchange of such debt with the Company for
Common Stock.
Item 4. Interest in Securities of the Issuer.
BCL no longer owns any shares of Common Stock.
LLI beneficially owns 3,771,054 shares of Common Stock, representing
approximately 6.3% of the Common Stock outstanding, as to which it has sole
voting power and sole dispositive power.
DHL beneficially owns 6,734 shares of Common Stock, representing less than
0.1% of the Common Stock outstanding, as to which it has sole voting power and
sole dispositive power.
<PAGE>
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CUSIP NO. 755281 70 6 Page 21 of 28 Pages
- ---------------------- -------------------
FIL beneficially owns 1,469,242 shares of Common Stock, representing
approximately 2.5% of the Common Stock outstanding, as to which it has sole
voting power and sole dispositive power.
Greenwing beneficially owns 1,352,491 shares of Common Stock, representing
approximately 2.3% of the Common Stock outstanding, as to which it may be deemed
to have sole voting power and sole dispositive power. Of these shares, (i)
1,327,271 are held in the name of Greenwing Ltd., a Texas limited partnership of
which Greenwing is the sole general partner, (ii) 5,220 are held in its own
name, and (iii) 20,000 are held by it in trust to satisfy any liabilities of
BCL.
N & M beneficially owns 5,066,352 shares of Common Stock, representing
approximately 8.5% of the Common Stock outstanding, as to which it has sole
voting power and sole dispositive power.
Workships beneficially owns 1,842,425 shares of Common Stock, representing
approximately 3.1% of the Common Stock outstanding, as to which it has sole
voting power and sole dispositive power.
Incomare beneficially owns 1,610,999 shares of Common Stock, representing
approximately 2.7% of the Common Stock outstanding, as to which it has sole
voting power and sole dispositive power.
<PAGE>
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CUSIP NO. 755281 70 6 Page 22 of 28 Pages
- ---------------------- -------------------
Torarica beneficially owns 146,454 shares of Common Stock, representing
approximately 0.2% of the Common Stock outstanding, as to which it has sole
voting power and sole dispositive power.
Forreal beneficially owns 73,227 shares, representing approximately 0.1% of
the Common Stock outstanding, as to which it has sole voting power and sole
dispositive power.
RBY beneficially owns 2,517,409 shares of Common Stock, representing
approximately 4.2% of the Common Stock outstanding, as to which it has sole
voting power and sole dispositive power.
Loyd beneficially owns 1,459,291 shares of Common Stock, representing
approximately 2.4% of the Common Stock outstanding. Loyd may be deemed to have
sole voting power and sole dispositive power over all such shares, of which
106,800 shares are registered in his name, 1,327,271 shares are registered in
the name of Greenwing Ltd., and 25,220 shares are registered in the name of
Greenwing. Loyd may be deemed to have sole voting power and sole dispositive
power over the shares held by Greenwing and Greenwing Ltd. by virtue of the fact
that Loyd owns 92.5% of the outstanding stock of Greenwing, which is the sole
general partner of Greenwing Ltd.
Serife no longer has beneficial ownership of any shares of Common Stock.
Cordia beneficially owns 3,453,424 shares of Common Stock, representing
approximately 5.8% of the Common Stock outstanding. Cordia may be deemed to
have shared dispositive power and shared voting power over all such shares,
consisting of
<PAGE>
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CUSIP NO. 755281 70 6 Page 23 of 28 Pages
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1,842,425 shares registered in the name of Workships and 1,610,999 shares
registered in the name of Incomare.
Laqueur beneficially owns 1,842,425 shares of Common Stock, representing
approximately 3.1% of the Common Stock outstanding. Laqueur may be deemed to
have shared dispositive power and shared voting power over all such shares,
consisting of 1,842,425 shares registered in the name of Workships.
During the past 60 days, the only transactions in the Common Stock that
were effected by the Reporting Persons were as hereinafter described.
Effective November 15, 1994, the partners of BCL entered into agreements
providing for the dissolution of BCL. Pursuant thereto, BCL distributed to its
partners an aggregate of 60,250 shares of Common Stock held by it. Of this
amount, BCL distributed 5,220 shares to Greenwing, 23,490 shares to Serife,
6,734 shares to DHL, 4,698 shares to FIL, 12,058 shares to LLI, and 8,050 shares
to RBY. In addition, BCL transferred 20,000 shares of Common Stock to Greenwing
to be held in trust by Greenwing to satisfy liabilities of BCL, including costs
incurred in connection with its dissolution. To the extent the shares so
transferred in trust to Greenwing are not required to be used to satisfy any
such liabilities, such shares will ultimately be conveyed by Greenwing to the
partners of BCL in the same proportions that the above described distribution by
BCL was made, and to that extent, the partners of BCL may be deemed to have a
continuing interest therein. As a result of the foregoing transactions, BCL no
longer holds any shares of Common Stock in its name.
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CUSIP NO. 755281 70 6 Page 24 of 28 Pages
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Immediately following the effectiveness of the foregoing described
distribution by BCL, Serife conveyed to N&M 11,745 shares of Common Stock that
were distributed to Serife by BCL, and Serife conveyed to Workships 11,745
shares of Common Stock that were distributed to Serife by BCL.
Item 5. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer.
Effective November 15, 1994, (i) the Stockholders Agreement was terminated
and (ii) BCL distributed 62,250 shares of Common Stock to its partners and
conveyed 20,000 shares of Common Stock to Greenwing in trust to satisfy
liabilities of BCL. Concurrently therewith, the Reporting Persons ceased to
constitute or act as a group with respect to their ownership of shares Common
Stock. Henceforth, each Reporting Person shall separately make any reports
required pursuant to Section 13 of the Securities Exchange Act of 1934 with
regard to such Reporting Person's ownership of shares of Common Stock, including
any amendments to this Schedule 13D insofar as it pertains to such Reporting
Person.
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CUSIP NO. 755281 70 6 Page 25 of 28 Pages
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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: November 15, 1994
BCL INVESTMENT PARTNERS, L.P.
By GREENWING INVESTMENTS, INC.
General Partner
By: /s/ Paul B. Loyd, Jr.
----------------------------------------------
Paul B. Loyd, Jr.
President
LIFE LINE INVESTMENTS, LTD.
By: /s/ Paul B. Loyd, Jr.
----------------------------------------------
Paul B. Loyd, Jr.
Attorney-in-fact
DEDICATED HOLDINGS, LTD.
By: /s/ Paul B. Loyd, Jr.
----------------------------------------------
Paul B. Loyd, Jr.
Attorney-in-fact
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CUSIP NO. 755281 70 6 Page 26 of 28 Pages
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FINANCIAL INVESTMENTS, LTD.
By: /s/ Paul B. Loyd, Jr.
----------------------------------------------
Paul B. Loyd, Jr.
Attorney-in-fact
GREENWING INVESTMENTS, INC.
By: /s/ Paul B. Loyd, Jr.
----------------------------------------------
Paul B. Loyd, Jr.
President
SERIFE INVESTMENTS N.V.
By: /s/ Paul B. Loyd, Jr.
----------------------------------------------
Paul B. Loyd, Jr.
Attorney-in-fact
N & M HOLDING N.V.
By: /s/ Paul B. Loyd, Jr.
----------------------------------------------
Paul B. Loyd, Jr.
Attorney-in-fact
WORKSHIPS INTERMEDIARIES, N.V.
By: /s/ Paul B. Loyd, Jr.
----------------------------------------------
Paul B. Loyd, Jr.
Attorney-in-fact
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CUSIP NO. 755281 70 6 Page 27 of 28 Pages
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INCOMARE HOLDINGS, INC.
By: /s/ Paul B. Loyd, Jr.
----------------------------------------------
Paul B. Loyd, Jr.
Attorney-in-fact
TORARICA N.V.
By: /s/ Paul B. Loyd, Jr.
----------------------------------------------
Paul B. Loyd, Jr.
Attorney-in-fact
FORREAL LTD.
By: /s/ Paul B. Loyd, Jr.
----------------------------------------------
Paul B. Loyd, Jr.
Attorney-in-fact
RBY, LTD.
By: /s/ Paul B. Loyd, Jr.
----------------------------------------------
Paul B. Loyd, Jr.
Attorney-in-fact
/s/ Paul B. Loyd, Jr.
-------------------------------------------------
PAUL B. LOYD, JR.
<PAGE>
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CUSIP NO. 755281 70 6 Page 28 of 28 Pages
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WILLEM CORDIA
By: /s/ Paul B. Loyd, Jr.
----------------------------------------------
Paul B. Loyd, Jr.
Attorney-in-fact
MACKO LAQUEUR
By: /s/ Paul B. Loyd, Jr.
----------------------------------------------
Paul B. Loyd, Jr.
Attorney-in-fact
