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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 2)
HomeFed Corporation
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(Name of Issuer)
Common Stock, $.01 par value 436919104
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(Title of class of securities) (CUSIP number)
Stephen E. Jacobs, Esq.
Weil, Gotshal & Manges LLP
767 Fifth Avenue
New York, New York 10153
(212) 310-8000
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(Name, address and telephone number of person authorized to
receive notices and communications)
JULY 8, 1999
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(Date of event which requires filing of this statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [_].
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, as amended (the "Exchange Act"), or otherwise subject to the liabilities
of that Section of the Exchange Act but shall be subject to all other provisions
of the Exchange Act.
(Continued on following page(s))
(Page 1 of 6 Pages)
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CUSIP No. 436919104 13D Page 2 of 6
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1 NAME OF REPORTING PERSON: TRUST UNDER TRUST AGREEMENT DATED AUGUST 14, 1998 BETWEEN
LEUCADIA NATIONAL CORPORATION AND JOSEPH A. ORLANDO, AS
TRUSTEE
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON:
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [X]
(B) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS: WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION: NEW YORK
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NUMBER OF 7 SOLE VOTING POWER: NONE
SHARES
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BENEFICIALLY 8 SHARED VOTING POWER: 50,675,812
OWNED BY
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EACH 9 SOLE DISPOSITIVE POWER: 50,675,812
REPORTING
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PERSON WITH 10 SHARED DISPOSITIVE POWER: NONE
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 50,675,812
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 89.6%
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14 TYPE OF REPORTING PERSON: 00
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CUSIP No. 436919104 13D Page 3 of 6
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1 NAME OF REPORTING PERSON: IAN M. CUMMING
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON:
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [X]
(B) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS: NOT APPLICABLE
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION: USA
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NUMBER OF 7 SOLE VOTING POWER: NONE
SHARES
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BENEFICIALLY 8 SHARED VOTING POWER: 50,675,812
OWNED BY
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EACH 9 SOLE DISPOSITIVE POWER: NONE
REPORTING
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PERSON WITH 10 SHARED DISPOSITIVE POWER: NONE
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 50,675,812
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 89.6%
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14 TYPE OF REPORTING PERSON: IN
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(1) All of such shares of common stock of HomeFed Corporation are directly owned
by a Trust under a Trust Agreement dated August 14, 1998 between Leucadia
National Corporation for the benefit of its shareholders of record on August 25,
1998 and Joseph A. Orlando, as Trustee.
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CUSIP No. 436919104 13D Page 4 of 6
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1 NAME OF REPORTING PERSON: JOSEPH S. STEINBERG
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON:
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [X]
(B) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS: NOT APPLICABLE
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION: USA
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NUMBER OF 7 SOLE VOTING POWER: NONE
SHARES
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BENEFICIALLY 8 SHARED VOTING POWER: 50,675,812
OWNED BY
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EACH 9 SOLE DISPOSITIVE POWER: NONE
REPORTING
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PERSON WITH 10 SHARED DISPOSITIVE POWER: NONE
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 50,675,812
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 89.6%
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14 TYPE OF REPORTING PERSON: IN
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</TABLE>
(1) All of such shares of common stock of HomeFed Corporation are directly owned
by a Trust under a Trust Agreement dated August 14, 1998 between Leucadia
National Corporation for the benefit of its shareholders of record on August 25,
1998 and Joseph A. Orlando, as Trustee.
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This Statement is Amendment No. 2 to the Statement on Schedule
13D (the "Schedule 13D") filed with the Securities and Exchange Comission by The
Trust Under Agreement Dated August 14, 1998 between Leucadia National
Corporation and Joseph A. Orlando, as Trustee, Ian M. Cumming and Joseph S.
Steinberg, on August 24, 1998, as previously amended, relating to HomeFed
Corporation, a Delaware corporation (the "Company"). Capitalized terms used
herein and not defined herein have the meanings ascribed thereto in the Schedule
13D.
Item 3. Source and Amount of Funds or Other Consideration.
See Item 4 below, the text of which is incorporated herein by
reference.
Item 4. Purpose of Transaction.
On July 8, 1999, the Trust acquired an aggregate of 46,557,826
shares of Common Stock pursuant to previously disclosed stock purchase
agreements. The aggregate purchase price for these shares was $8,380,400, of
which $6,710,300 was advanced to the Company at the time the stock purchase
agreements were executed. The remaining unpaid portion of the purchase price for
these shares ($1,670,100) was paid to the Company by the Trust on July 8, 1999.
On May 26, 1999, the Company increased the size of its Board
of Directors from five to six directors and appointed Mr. Cumming to the
Company's Board of Directors. Four members of the Company's Board of Directors
are currently affiliated with Leucadia.
Except as described above, the Beneficial Owners have no plans
or intentions which would result in or relate to any of the transaction
described in subpargraphs (a) through (g) of Item 4 of Schedule 13D.
Item 5. Interest in Securities of the Issuer.
(a) and (b). As of July 8, 1999, each of the Trust, Joseph S.
Steinberg and Ian M. Cumming, may be deemed to beneficially own, for purposes of
Section 13(d) of the Exchange Act, 50,675,812 shares of HomeFed Common Stock,
representing approximately 89.6% of the outstanding Common Stock.
Each of Joseph S. Steinberg and Ian M. Cumming share voting
power with respect to the Shares. Pursuant to the terms of the Trust Agreement,
the Trustee has sole power to dispose of the Shares.
(c). Except as described herein, none of the Beneficial Owners
effected any transactions in shares of Common Stock during the past 60 days.
5
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SIGNATURE
After reasonable inquiry and to the best of its knowledge and
belief, the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: July 12, 1999
TRUST UNDER TRUST AGREEMENT DATED
AUGUST 14, 1998 BETWEEN LEUCADIA
NATIONAL CORPORATION AND JOSEPH A.
ORLANDO, AS TRUSTEE
By: /s/ Joseph A. Orlando
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Joseph A. Orlando, as Trustee
/s/ Joseph S. Steinberg
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Joseph S. Steinberg
/s/ Ian M. Cumming
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Ian M. Cumming
6
