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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
MONACO FINANCE, INC.
- --------------------------------------------------------------------------------
(Name of Issuer)
Class A Common Stock and Class B Common Stock
- --------------------------------------------------------------------------------
(Title of Class of Securities)
608868-105
- --------------------------------------------------------------------------------
(CUSIP Number)
Cathryn L. Porter, Chief General Counsel
3200 Southwest Freeway, Suite 1220
Houston, Texas 77027 (713) 871-0111
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
February 6, 1997
- --------------------------------------------------------------------------------
(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 [ ]. (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 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 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
<PAGE>
SCHEDULE 13D
- -------------------------------------------------------------------------------
CUSIP No. 608868-105 Page 2 of 13 Pages
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Pacific USA Holdings Corp.
IRS Identification No. 75-2255876
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
(See Item 3)
- ------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
- ------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF --------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 0 Class A
OWNED BY 0 Class B (See Item 5)
EACH --------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON WITH 0
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 Class A
0 Class B (See Item 5)
- ------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0 Class A
0 Class B (See Item 5)
- ------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Class A 0%
Class B 0%
- ------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
- -------------------------------------------------------------------------------
CUSIP No. 608868-105 Page 3 of 13 Pages
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Pacific Electric Wire & Cable Co., Ltd.
IRS Identification No. -- N/A -- Foreign Corporation
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
(See Item 3)
- ----------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Taiwan, Republic of China
- ------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF --------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 0 Class A
OWNED BY 0 Class B (See Item 5)
EACH --------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON WITH 0
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 Class A
0 Class B (See Item 5)
- ------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0 Class A
0 Class B
- ------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- ------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Class A 0%
Class B 0%
- ------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
1. Security and Issuer.
This Statement relates to the Class A common stock, $.01 par value, and
Class B common stock, $.01 par value, of Monaco Finance, Inc., a Colorado
corporation (the "Issuer" or "Monaco"). The address of the Issuer's principal
executive offices is 370 Seventeenth Street, Suite 5060, Denver, Colorado,
80202.
2. Identity and Background.
(a) Name: This Statement is being filed by Pacific USA Holdings Corp.,
a Texas corporation ("Pacific"), and Pacific Electric Wire & Cable Co., Ltd., a
Taiwanese limited company ("Pacific Electric"). Pacific is a 93.5% owned
subsidiary of Pacific Electric. The executive officers and directors of Pacific
and Pacific Electric are set forth in Item 2(c) of this Statement. The filing of
this Statement shall not be construed as an admission that Pacific or Pacific
Electric, or any of its executive officers or directors are, for the purposes of
Section 13(d) or 13(g) of the Securities Exchange Act of 1934, as amended (the
"Exchange Act"), the beneficial owners of any securities covered by this
Statement or that this schedule is required to be filed by such persons.
(b) Business Address: The business address of Pacific is 5999
Summerside Drive, Suite 112, Dallas, Texas 75252. The business address of
Pacific Electric is 4th Fl., 285, Chung Hsiao East Road, Section 4, Taipei,
Taiwan, Republic of China. The business address of Pacific's and Pacific
Electric's respective executive officers and directors are set forth in Item
2(c) of this Statement.
(c) Present Principal Occupation or Employment: Pacific is a
diversified holding company engaged in the financial services, real estate and
technology industries. Pacific Electric is a general business conglomerate
founded on the electric cable and wire industry, engaged in manufacturing,
telecommunications and technology. The present principal occupation or
employment of Pacific's and Pacific Electric's respective executive officers and
directors and the name and address of any corporation or other organizations in
which such employment is conducted are as follows:
Board of Directors of Pacific
<TABLE>
<S> <C> <C> <C>
- ----------------------------------------------------------------------------------------------------------------------------------
Name Business Address Present Principal Citizenship
Occupation
- ----------------------------------------------------------------------------------------------------------------------------------
Tung Yu-jeh Pacific Electric Wire & Cable Co., Ltd. Chairman of the Board Taiwan, ROC
4th Fl., 285, Chung Hsiao East Road, Pacific Electric Wire Cable
Section 4 Co., Ltd.
Taipei, Taiwan, Republic of China
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 4 of 13
<PAGE>
<TABLE>
<S> <C> <C> <C>
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Sun Tao-tsun Pacific Electric Wire & Cable Co., Ltd. President Taiwan, ROC
4th Fl., 285, Chung Hsiao East Road, Pacific Electric Wire &
Section 4 Cable Co., Ltd.
Taipei, Taiwan, Republic of China
- ----------------------------------------------------------------------------------------------------------------------------------
Hu Hung-chiu Pacific Electric Wire & Cable Co., Ltd. Executive Vice President Taiwan, ROC
4th Fl., 285, Chung Hsiao East Road, and Chief Financial Officer
Section 4 Pacific Electric Wire &
Taipei, Taiwan, Republic of China Cable Co., Ltd.
- ----------------------------------------------------------------------------------------------------------------------------------
Lee Pon-yean Pacific Electric Wire & Cable Co., Ltd. Vice President Taiwan, ROC
4th Fl., 285, Chung Hsiao East Road, Pacific Electric Wire Cable
Section 4 Co., Ltd.
Taipei, Taiwan, Republic of China
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Tung Ching-yun c/o Pacific USA Holdings Corp Vice President, Pacific Taiwan, ROC
5999 Summerside Drive, #112 Electric Wire & Cable Co.,
Dallas, Texas 75252 Ltd., and Executive
Assistant: Office of the
Chairman
Pacific USA Holdings
Corp.
- ----------------------------------------------------------------------------------------------------------------------------------
Larry D. c/o Pacific USA Holdings Corp Chief Executive Officer United States
Horner 5999 Summerside Drive, #112 PUSA Investment
Dallas, Texas 75252 Company
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Bill C. Bradley c/o Pacific USA Holdings Corp Chief Executive Officer United States
5999 Summerside Drive, #112 Pacific USA Holdings
Dallas, Texas 75252 Corp.
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Board of Directors of Pacific Electric
<TABLE>
<S> <C> <C> <C>
- ----------------------------------------------------------------------------------------------------------------------------------
Name Business Address Present Principal Citizenship
Occupation
- ----------------------------------------------------------------------------------------------------------------------------------
Tung Yu-jeh c/o Pacific USA Holdings Corp Chairman of the Board Taiwan, ROC
5999 Summerside Drive, #112 Pacific Electric Wire Cable
Dallas, Texas 75252 Co., Ltd.
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 5 of 13
<PAGE>
<TABLE>
<S> <C> <C> <C>
- ----------------------------------------------------------------------------------------------------------------------------------
Lee Yu-tien Pacific Electric Wire & Cable Co., Ltd. Vice Board Chairman Taiwan, ROC
4th Fl., 285, Chung Hsiao East Road, Pacific Electric Wire &
Section 4 Cable Co., Ltd.
Taipei, Taiwan, Republic of China
- ----------------------------------------------------------------------------------------------------------------------------------
Sun Chen Shu- Pacific Electric Wire & Cable Co., Ltd. Executive Director Taiwan, ROC
chuan 4th Fl., 285, Chung Hsiao East Road, Pacific Electric Wire &
Section 4 Cable Co., Ltd.
Taipei, Taiwan, Republic of China
- ----------------------------------------------------------------------------------------------------------------------------------
Cheng I-chou Pacific Electric Wire & Cable Co., Ltd. Executive Director Taiwan, ROC
4th Fl., 285, Chung Hsiao East Road, Pacific Electric Wire &
Section 4 Cable Co., Ltd.
Taipei, Taiwan, Republic of China
- ----------------------------------------------------------------------------------------------------------------------------------
Chiao Ting-piao Pacific Electric Wire & Cable Co., Ltd. Executive Director Taiwan, ROC
4th Fl., 285, Chung Hsiao East Road, Pacific Electric Wire &
Section 4 Cable Co., Ltd.
Taipei, Taiwan, Republic of China
- ----------------------------------------------------------------------------------------------------------------------------------
Sun Tao-tsun Pacific Electric Wire & Cable Co., Ltd. President Taiwan, ROC
4th Fl., 285, Chung Hsiao East Road, Pacific Electric Wire &
Section 4 Cable Co., Ltd.
Taipei, Taiwan, Republic of China
- ----------------------------------------------------------------------------------------------------------------------------------
Hu Hung-chiu Pacific Electric Wire & Cable Co., Ltd. Executive Vice President Taiwan, ROC
4th Fl., 285, Chung Hsiao East Road, and Chief Financial Officer
Section 4 Pacific Electric Wire &
Taipei, Taiwan, Republic of China Cable Co., Ltd.
- ----------------------------------------------------------------------------------------------------------------------------------
Lee Chao-chun Pacific Electric Wire & Cable Co., Ltd. Director Taiwan, ROC
4th Fl., 285, Chung Hsiao East Road, Pacific Electric Wire &
Section 4 Cable Co., Ltd.
Taipei, Taiwan, Republic of China
- ----------------------------------------------------------------------------------------------------------------------------------
Lee Pon-yean Pacific Electric Wire & Cable Co., Ltd. Vice President Taiwan, ROC
4th Fl., 285, Chung Hsiao East Road, Pacific Electric Wire Cable
Section 4 Co., Ltd.
Taipei, Taiwan, Republic of China
- ----------------------------------------------------------------------------------------------------------------------------------
Liu Wei-kang Pacific Electric Wire & Cable Co., Ltd. Director Taiwan, ROC
4th Fl., 285, Chung Hsiao East Road, Pacific Electric Wire &
Section 4 Cable Co., Ltd.
Taipei, Taiwan, Republic of China
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 6 of 13
<PAGE>
<TABLE>
<S> <C> <C> <C>
- ----------------------------------------------------------------------------------------------------------------------------------
Tung Ching-yun c/o Pacific USA Holdings Corp Executive Assistant: Office Taiwan, ROC
5999 Summerside Drive, #112 of the Chairman Pacific
Dallas, Texas 75252 USA Holdings Corp.
- ----------------------------------------------------------------------------------------------------------------------------------
Lee Ta-jen Pacific Electric Wire & Cable Co., Ltd. Director Taiwan, ROC
4th Fl., 285, Chung Hsiao East Road, Pacific Electric Wire &
Section 4 Cable Co., Ltd.
Taipei, Taiwan, Republic of China
- ----------------------------------------------------------------------------------------------------------------------------------
Chiao Yu-chi Pacific Electric Wire & Cable Co., Ltd. Director Taiwan, ROC
4th Fl., 285, Chung Hsiao East Road, Pacific Electric Wire &
Section 4 Cable Co., Ltd.
Taipei, Taiwan, Republic of China
- ----------------------------------------------------------------------------------------------------------------------------------
Sun Tao-chi Pacific Electric Wire & Cable Co., Ltd. Director Taiwan, ROC
4th Fl., 285, Chung Hsiao East Road, Pacific Electric Wire &
Section 4 Cable Co., Ltd.
Taipei, Taiwan, Republic of China
- ----------------------------------------------------------------------------------------------------------------------------------
Lee Ta-cheng Pacific Electric Wire & Cable Co., Ltd. Vice President Taiwan, ROC
4th Fl., 285, Chung Hsiao East Road, Pacific Electric Wire &
Section 4 Cable Co., Ltd.
Taipei, Taiwan, Republic of China
- ----------------------------------------------------------------------------------------------------------------------------------
Cheng Chao- Pacific Electric Wire & Cable Co., Ltd. Vice President Taiwan, ROC
chun 4th Fl., 285, Chung Hsiao East Road, Pacific Electric Wire &
Section 4 Cable Co., Ltd.
Taipei, Taiwan, Republic of China
- ----------------------------------------------------------------------------------------------------------------------------------
Sun Tao-heng Pacific Electric Wire & Cable Co., Ltd. Vice President Taiwan, ROC
4th Fl., 285, Chung Hsiao East Road, Pacific Electric Wire &
Section 4 Cable Co., Ltd.
Taipei, Taiwan, Republic of China
- ----------------------------------------------------------------------------------------------------------------------------------
Yuan Pei-yu Pacific Electric Wire & Cable Co., Ltd. President Taiwan, ROC
4th Fl., 285, Chung Hsiao East Road, Pacific Systems, Inc.
Section 4
Taipei, Taiwan, Republic of China
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 7 of 13
<PAGE>
<TABLE>
<S> <C> <C> <C>
- ----------------------------------------------------------------------------------------------------------------------------------
H. Baba c/o Pacific Electric Wire & Cable Co., Sumitomo Electric Ind., Japan
Ltd. Ltd: c/o Pacific Electric
4th Fl., 285, Chung Hsiao East Road, Wire & Cable Co., Ltd.
Section 4 4th Fl., 285, Chung Hsiao
Taipei, Taiwan, Republic of China East Road,
Section 4
Taipei, Taiwan, Republic
of China
- ----------------------------------------------------------------------------------------------------------------------------------
Chang-Min- Pacific Electric Wire & Cable Co., Ltd. Chairman Taiwan, ROC
chiang 4th Fl., 285, Chung Hsiao East Road, Greenbay Entertainment
Section 4 Co., Ltd.
Taipei, Taiwan, Republic of China
- ----------------------------------------------------------------------------------------------------------------------------------
Tony Yuan Pacific Electric Wire & Cable Co., Ltd. Director Taiwan, ROC
4th Fl., 285, Chung Hsiao East Road, Pacific Electric Wire &
Section 4 Cable Co., Ltd.
Taipei, Taiwan, Republic of China
- ----------------------------------------------------------------------------------------------------------------------------------
Tung Hsiu-chun Pacific Electric Wire & Cable Co., Ltd. Director Taiwan, ROC
4th Fl., 285, Chung Hsiao East Road, Pacific Electric Wire &
Section 4 Cable Co., Ltd.
Taipei, Taiwan, Republic of China
- ----------------------------------------------------------------------------------------------------------------------------------
Kao Ching-chu Pacific Electric Wire & Cable Co., Ltd. Supervisor Taiwan, ROC
4th Fl., 285, Chung Hsiao East Road, Pacific Electric Wire &
Section 4 Cable Co., Ltd.
Taipei, Taiwan, Republic of China
- ----------------------------------------------------------------------------------------------------------------------------------
Chin Yung Pacific Electric Wire & Cable Co., Ltd. Supervisor Taiwan, ROC
4th Fl., 285, Chung Hsiao East Road, Pacific Electric Wire &
Section 4 Cable Co., Ltd.
Taipei, Taiwan, Republic of China
- ----------------------------------------------------------------------------------------------------------------------------------
Tung Hsiu-shing Pacific Electric Wire & Cable Co., Ltd. Supervisor Taiwan, ROC
4th Fl., 285, Chung Hsiao East Road, Pacific Electric Wire &
Section 4 Cable Co., Ltd.
Taipei, Taiwan, Republic of China
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 8 of 13
<PAGE>
Executive Officers of Pacific
<TABLE>
<S> <C> <C> <C>
- ----------------------------------------------------------------------------------------------------------------------------------
Name Business Address Present Principal Citizenship
Occupation
- ----------------------------------------------------------------------------------------------------------------------------------
Larry D. Horner c/o Pacific USA Holdings Corp Chairman of the Board of United States
5999 Summerside Drive, #112 Pacific USA Holdings
Dallas, Texas 75252 Corp., CEO of PUSA
Investment Corp.
- ----------------------------------------------------------------------------------------------------------------------------------
Bill C. Bradley c/o Pacific USA Holdings Corp Chief Executive Officer United States
5999 Summerside Drive, #112 Pacific USA Holdings
Dallas, Texas 75252 Corp.
- ----------------------------------------------------------------------------------------------------------------------------------
Michael K. c/o Pacific USA Holdings Corp Chief Financial Officer United States
McCraw 5999 Summerside Drive, #112 Pacific USA Holdings
Dallas, Texas 75252 Corp.
- ----------------------------------------------------------------------------------------------------------------------------------
Cathryn L. c/o Pacific USA Holdings Corp Chief General Counsel United States
Porter 3200 Southwest Freeway Pacific USA Holdings
Suite 1220 Corp.
Houston, Texas 77027
- ----------------------------------------------------------------------------------------------------------------------------------
Kristie A. Lipes c/o Pacific USA Holdings Corp Chief Administrative United States
5999 Summerside Drive, #112 Officer
Dallas, Texas 75252 Pacific USA Holdings
Corp.
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 9 of 13
<PAGE>
Executive Officers of Pacific Electric
<TABLE>
<S> <C> <C> <C>
- ----------------------------------------------------------------------------------------------------------------------------------
Name Business Address Present Principal Citizenship
Occupation
- ----------------------------------------------------------------------------------------------------------------------------------
Tung Yu-jeh Pacific Electric Wire & Cable Co., Ltd. Chairman Taiwan, ROC
4th Fl., 285, Chung Hsiao East Road, Pacific Electric Wire &
Section 4 Cable Co., Ltd.
Taipei, Taiwan, Republic of China
- ----------------------------------------------------------------------------------------------------------------------------------
Sun Tao-tsun Pacific Electric Wire & Cable Co., Ltd. President Taiwan, ROC
4th Fl., 285, Chung Hsiao East Road, Pacific Electric Wire &
Section 4 Cable Co., Ltd.
Taipei, Taiwan, Republic of China
- ----------------------------------------------------------------------------------------------------------------------------------
Hu Hung-chiu Pacific Electric Wire & Cable Co., Ltd. Executive Vice President Taiwan, ROC
4th Fl., 285, Chung Hsiao East Road, and Chief Financial Officer
Section 4 Pacific Electric Wire &
Taipei, Taiwan, Republic of China Cable Co., Ltd.
- ----------------------------------------------------------------------------------------------------------------------------------
Sun Tao-heng Pacific Electric Wire & Cable Co., Ltd. Vice President Taiwan, ROC
4th Fl., 285, Chung Hsiao East Road, Pacific Electric Wire &
Section 4 Cable Co., Ltd.
Taipei, Taiwan, Republic of China
- ----------------------------------------------------------------------------------------------------------------------------------
Lee Pon-yean Pacific Electric Wire & Cable Co., Ltd. Vice President Taiwan, ROC
4th Fl., 285, Chung Hsiao East Road, Pacific Electric Wire &
Section 4 Cable Co., Ltd.
Taipei, Taiwan, Republic of China
- ----------------------------------------------------------------------------------------------------------------------------------
Lee Ta-cheng Pacific Electric Wire & Cable Co., Ltd. Vice President Taiwan, ROC
4th Fl., 285, Chung Hsiao East Road, Pacific Electric Wire &
Section 4 Cable Co., Ltd.
Taipei, Taiwan, Republic of China
- ----------------------------------------------------------------------------------------------------------------------------------
Cheng Chao- Pacific Electric Wire & Cable Co., Ltd. Vice President Taiwan, ROC
chun 4th Fl., 285, Chung Hsiao East Road, Pacific Electric Wire &
Section 4 Cable Co., Ltd.
Taipei, Taiwan, Republic of China
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
Page 10 of 13
<PAGE>
<TABLE>
<S> <C> <C> <C>
- ----------------------------------------------------------------------------------------------------------------------------------
Tung Ching-yun c/o Pacific USA Holdings Corp Vice President Taiwan, ROC
5999 Summerside Drive, #112 Pacific Electric Wire &
Dallas, Texas 75252 Cable Co., Ltd., Executive
Assistant: Office of the
Chairman Pacific USA
Holdings Corp.
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
(d) Criminal Convictions: During the last five years, neither Pacific,
Pacific Electric nor any of their respective executive officers or directors
have been convicted in a criminal proceeding, excluding traffic violations and
similar misdemeanors.
(e) Court or Administrative Proceedings. During the last five years,
neither Pacific, Pacific Electric nor any of their respective executive officers
or directors have been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction as a result of which any of them
were or are subject to a judgment, decree or final order enjoining future
violations of, or prohibiting or mandating activities subject to, federal or
state securities laws or finding any violation with respect to such laws.
(f) Citizenship: Pacific is a Texas corporation. Pacific Electric is
incorporated as a Taiwanese limited company. The citizenship of each director
and executive officer of Pacific and Pacific Electric is set forth in Item 2(c)
of this Statement.
3. Source and Amount of Funds and Other Consideration:
Under a Securities Purchase Agreement dated October 29, 1996 (the
"Securities Purchase Agreement"), Pacific agreed to acquire 3,800,000
newly-issued shares of Class A common stock of Monaco. In addition, pursuant to
a Warrant (the "Warrant") issued to Pacific by Monaco on October 29, 1996,
Pacific had the right to purchase an additional 6,000,000 newly-issued shares of
Class A common stock. Moreover, Pacific entered into a Shareholder Option
Agreement ("Option Agreement") dated October 29, 1996 with Morris Ginsburg,
Sandler Family Partners, Ltd., and Irwin Sandler, significant shareholders of
Monaco's Class B common stock (the "Significant Shareholders"), pursuant to
which Pacific obtained the right to purchase 830,000 of the Class B common stock
of Monaco owned by such Significant Shareholders and such Significant
Shareholders also were given the right to "put" their Class B common stock to
Pacific. Pursuant to the Option Agreement the Significant Shareholders agreed to
vote 493,715 shares of Class B Common Stock over which they have a proxy as
directed by Pacific to the extent consistent with any fiduciary duties of the
grantor of such proxy.
On February 6, 1997, Pacific and Monaco entered into a Termination
Agreement which effected a termination of the Securities Purchase Agreement, the
Warrant and the Option Agreement.
Page 11 of 13
<PAGE>
The Significant Shareholders joined in the Termination Agreement to evidence the
termination of the Option Agreement. As a result of the Termination Agreement,
Pacific no longer has the obligation or right to acquire any shares of Monaco's
Class A Common Stock or Class B Common Stock.
4. Purpose of Transaction.
Pacific, through one or more subsidiaries or affiliates, is engaged in
the financing of consumer debt related to the automobile industry. Pacific
intended that upon consummation of the transactions contemplated by the
Securities Purchase Agreement, it would acquire control of Monaco. However, as a
result of the termination of each of the Securities Purchase Agreement, the
Warrant and the Option Agreement, Pacific will not be acquiring any securities
of Monaco and, therefore, will not control Monaco.
5. Interest in Securities of the Issuer.
(a) Pacific and Pacific Electric each have beneficial ownership of 0
shares of Monaco Class A Common Stock and 0 shares of Monaco Class B Common
Stock. The percentage of Monaco Class A Common Stock and Class B Common Stock
beneficially owned by each of Pacific and Pacific Electric is 0%.
(b) Pacific and Pacific Electric do not have any shared voting and
dispositive power with respect to any of the shares of Monaco Class A Common
Stock and Class B Common Stock.
(c) Except as described above, neither Pacific, Pacific Electric nor
any person named in Section 2(c) hereto owns beneficially any shares of Common
Stock of Monaco or has effected any transaction in shares of Common Stock of
Monaco during the sixty (60) days preceding the date of this Statement.
(d) Not applicable.
(e) February 6, 1997.
6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer.
Other than as indicated elsewhere in this Statement, to the best
knowledge of Pacific and Pacific Electric, neither Pacific, Pacific Electric nor
any of the persons named in Section 2(c) hereto is a party to any contract,
arrangement, understanding, or relationship (legal or otherwise) with any person
with respect to any securities of the Issuer, including but not limited to, the
transfer or voting of any of the Issuer's securities, finder's fees, joint
ventures, loan or option arrangements, puts or
Page 12 of 13
<PAGE>
calls, guarantees of profits, division of profits or loss, or the giving or
withholding of proxies, except as follows:
(a) Concurrently with the execution of the Securities Purchase
Agreement, Monaco entered into a Loan Agreement with Pacific. The Loan Agreement
provides for a $3.0 million Term Loan by Pacific to Monaco, which Term Loan was
funded on November 1, 1996. The Term Loan matures on November 16, 1998, subject
to mandatory prepayment with the proceeds of the issuance of Class A common
stock pursuant to the Securities Purchase Agreement. The Term Loan bears
interest at 9.0% per annum with monthly payments of interest only during the
first year and monthly installments of principal and interest beginning in
December, 1997. The Term Loan is secured by a pledge of 100% of the outstanding
stock of MF Receivables Corp. I, Monaco's wholly-owned subsidiary, and is
subject to mandatory prepayments in the event of certain asset liquidations by
MF Receivables Corp. I, or the failure of MF Receivables Corp. I to maintain
certain financial ratios. The Term Loan is subject to acceleration in the event
that Monaco refuses to close the transactions contemplated by the Securities
Purchase Agreement, notwithstanding the satisfaction of its conditions to
closing or defaults on its obligations to pay liquidated damages as required by
the Securities Purchase Agreement. The Term Loan is also subject to acceleration
upon the occurrence of other events of default customary in commercial lending
transactions.
Pursuant to the Termination Agreement, the Term Loan will continue in
accordance with its terms and provisions.
7. Material to be Filed as Exhibits.
Exhibit A: Termination Agreement dated February 6, 1997
between Monaco Finance, Inc., a Colorado corporation
and Pacific USA Holdings Corp., a Texas corporation.
Signature
After reasonable inquiry and to the best of the undersigned's knowledge and
belief, the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Date: February 14, 1997 Pacific USA Holdings Corp.
By: /s/ Bill C. Bradley
------------------------------
Bill C. Bradley
Chief Executive Officer
Pacific Electric Wire & Cable Co., Ltd.
By: /s/ Tung Ching-yun
------------------------------
Tung Ching-yun
Vice President
Page 13 of 13
<PAGE>
EXHIBIT A
TERMINATION AGREEMENT
THIS TERMINATION AGREEMENT is made and entered into as of the 6th day
of February, 1997, between MONACO FINANCE, INC., a Colorado corporation (the
"Company"), and PACIFIC USA HOLDINGS CORP., a Texas corporation (the
"Purchaser").
The Company and Purchaser entered into a Securities Purchase Agreement
(the "Agreement") as of the 29th day of October 1996. The Company and Purchaser
agree as follows:
1. Termination of Agreement. The Company and Purchaser hereby terminate
the Agreement pursuant to Section 9(a)(i) of the Agreement. The Company and
Purchaser also terminate the Warrant and the Shareholder Option Agreement.
2. Deposit. The Company and Purchaser shall immediately direct Norwest
Bank Minnesota, N.A. ("Escrow Agent") to deliver the Escrowed Funds (as defined
in the Escrow Agreement dated as of October 29, 1996 among the Company,
Purchaser and Escrow Agent), to Purchaser.
3. Bridge Loan. The Bridge Loan shall continue in accordance with its
terms and provisions.
4. Defined Terms. All capitalized terms shall have the meanings set
forth in the Agreement unless otherwise defined herein.
IN WITNESS WHEREOF, each of the Company and Purchaser has caused this
Termination Agreement to be executed by its duly authorized representative.
MONACO FINANCE, INC., a
Colorado corporation
By: /s/ Morris Ginsburg
---------------------------------
Name: Morris Ginsburg
Title: President
PACIFIC USA HOLDINGS CORP., a
Texas corporation
By: /s/ Bill C. Bradley
---------------------------------
Name: Bill C. Bradley
Title: CEO
1
<PAGE>
The undersigned parties join in the execution of this Termination
Agreement to evidence the termination of the Shareholder Option Agreement.
/s/ Morris Ginsburg
---------------------------------
Morris Ginsburg
/s/ Irwin L. Sandler
---------------------------------
Irwin L. Sandler
Sandler Partners Family Partners, Ltd.
By: /s/ Irwin L. Sandler
-------------------------------------------
Irwin L. Sandler, General Partner
2
