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<CAPTION>
- ----------------- U.S. SECURITIES AND EXCHANGE COMMISSION ----------------------------
| F O R M 4 | Washington, D.C. 20549 | OMB APPROVAL |
- ----------------- |--------------------------|
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP |OMB Number 3235-0287|
[ ] Check this box if |Expires: September 30,1998|
no longer Subject Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, |Estimated ave. burden |
to Section 16. Section 17(a) of the Public Utility Holding Company Act of 1935 or |hours per response.....0.5|
Section 30(f) of the Investment Company Act 1940 ----------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
|1.Name and Address of Reporting Person* |2.Issuer Name and Ticker or Trading Symbol |6.Relationship of Reporting Person to |
| | | Issuer (Check all Applicable) |
| Pacific USA Holdings Corporation (1) | Monaco Finance, Inc.; MONFA | |
| | | Director X 10% Owner |
|----------------------------------------|------------------------------------------------|--- --- |
| (Last) (First) (MI)|3.IRS or Soc. Sec. No. |4.Statement for Month/ | Officer Other |
| | of Reporting Person | Year |---(give title below) ---(Specify below)|
| 5999 Summerside Drive, Suite 112 | (Voluntary) | | Senior Vice President, CFO |
| | | September 1998 |----------------------------------------|
|----------------------------------------| |------------------------|7. Individual or Joint/Group Filing |
| (Street) | |5.If Amendment, Date of | (Check Applicable Line) |
| | | Original (Month/Year) | |
| | | | Form filed by One Reporting Person |
| Dallas TX 75252 | 75-2255876 | |--- |
| | | | X Form filed by More than One |
| | | |--- Reporting Person |
|----------------------------------------------------------------------------------------------------------------------------------|
| (City) (State) (Zip) |
| TABLE I - Non-Derivative Securities Acquired, Disposed of or Beneficially Owned |
|----------------------------------------------------------------------------------------------------------------------------------|
|1.Title of Security |2.Transac- |3.Trans. |4.Security Acquired (A) or |5.Amount of |6. |7.Nature of Indirect|
| (Instr. 3) | tion Date | Code | Disposed of (D) | Securities |Own.| Beneficial |
| |(Mon/Day/Yr)|(Instr.8)| (Instr. 3, 4 & 5) | Beneficially |Form| Ownership |
| | |---------|-------------------------------| Owned at End of|(D) | (Instr. 4) |
| | | | | |(A) | | Month |or | |
| | |Code| V | Amount |(D) | Price | (Instr. 3 & 4) |(I) | |
|-------------------------------|------------|----|----|----------------|----|---------|-----------------|----|--------------------|
|<S> |<C> |<C> |<C> |<C> |<C> |<C> |<C> |<C> |<C> |
|-------------------------------|------------|----|----|----------------|----|---------|-----------------|----|--------------------|
| Class A Common Stock | 09/01/1998 | (J)| | 4,698,157 | A | $0.95 | 7,009,309 | I | (2,3) |
| | | | | | |per share| | | |
- ------------------------------------------------------------------------------------------------------------------------------------
Reminder: Report on a separate line for each class securities owned directly or indirectly. SEC 1474 (7-98)
*If the form is filed by more than one reporting person, see Instruction 4(b)(v).
PAGE: 1 OF 2
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<CAPTION>
FORM 4 (continued) TABLE II - Derivative Securities Acquired, Disposed of, Beneficially Owned
(e.g., puts, calls, warrants, options, convertible security)
- ------------------------------------------------------------------------------------------------------------------------------------
|1.Title of|2.Conver-|3. |4.Tran- |5.Number of |6.Date |7.Title and Amount |8.Price of|9.Number |10. |11.Nature |
|Derivative|sion or |Trans| saction| Derivative |Exercisable| of Underlying |Derivative| of |Own.| of |
|Security |Exercise |Date | Code | Securities |and | Securities |Security |Derivative|Form|Indirect |
|(Instr. 3)|Price of |(Mon/|(Instr.8)| Acquired (A) or |Expiration | (Instr. 3 & 4) |(Instr. 5)|Securities|of |Beneficial|
| |Deriva- | Day/| | Disposed of (D) |Date | | |Benefi- |Deri|Ownership |
| |tive |Year)| | (Instr. 3, 4 & 5) |(Month/Day/| | |cially |Sec.|(Instr. 4)|
| |Security | | | | Year) | | |Owned at |Dir.| |
| | | | | |-----------|---------------------| |End of |(D) | |
| | | | | | | | |Amount or | |Month |or | |
| | | |---------|---------------------|Date |Exp. | Title |Number of | |(Instr. 4)|Ind.| |
| | | |Code| V | (A) | (D) |Exbl.|Date | |Shares | | |(I) | |
|----------|---------|-----|----|----|----------|----------|-----|-----|----------|----------|----------|----------|----|----------|
|<S> |<C> |<C> |<C> |<C> |<C> |<C> |<C> |<C> |<C> |<C> |<C> |<C> |<C> |<C> |
|----------|---------|-----|----|----|----------|----------|-----|-----|----------|----------|----------|----------|----|----------|
| 8% cumu- | (5) | 9/1/| J | | | 77,221 | 3/4/|None | Class A |1,178,118 | $2.00/sh | 2,356,236| I | (4) |
| lative | |1998 | | | | |1998 | | |(5) | | | | |
| Convert- | | | | | | | | | | | | | | |
| ible | | | | | | | | | | | | | | |
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<FN>
Explanation of Responses:
1 Designated Filer. See attached Supplement A for group beneficial owners.
2 6,198,157 shares of Class A Common Stock are owned directly by Consumer Finance Holdings, Inc., which is a wholly
owned subsidiary of Pacific USA Holdings Corp., which is a wholly owned subsidiary of Pacific Electric Wire & Cable
Co., Ltd.
3 811,152 shares of Class A Common Stock are owned directly by First CF Corp., which is a wholly owned subsidiary
of Pacific Southwest Bank, which is a wholly owned subsidiary of Pacific Financial Group, Inc., which is a wholly
owned subsidiary of Pacific USA Holdings Corp., which is a wholly owned subsidiary of Pacific Electric Wire & Cable
Co., Ltd.
4 8% Cumulative Convertible Preferred Stock, Series 1998-1 owned directly by First CF Corp., which is a wholly
owned subsidiary of Pacific Southwest Bank, which is a wholly owned subsidiary of Pacific Financial Group, Inc., which
is a wholly owned subsidiary of Pacific USA Holdings Corp., which is a wholly owned subsidiary of Pacific Electric
Wire & Cable Co., Ltd.
5 See Explanation J.
J See attached Supplement B for explanation of transaction.
** See attached signature page for remainder of group beneficial owners.
PACIFIC USA HOLDINGS CORP.
**Intentional misstatements or omissions of facts constitute Federal /s/ Bill C. Bradley 10/09/1998
Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). -------------------------------------------- ----------
**Signature of Reporting Person Date
Note: File three copies of this form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure. SEC 1474 (7-98)
Potential persons who are to respond to the collection of information contained in this form are not
required to respond unless the form displays a currently valid OMD Number
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<PAGE>
SUPPLEMENT A TO FORM 4
Form 4 Statement, March 1998
Name of Reporting Person
- ---------------------------
Name of Issuer
----------------
Pacific USA Holdings, Corp.
Monaco Finance, Inc.: MONFA
PACIFIC ELECTRIC WIRE & CABLE CO., LTD.
4th Fl., 285 Chung Hsiao East Road, Section 4
Taiipei, Taiwan, Republic of China
Tax ID No.: N/A -- Foreign Corporation
PACIFIC USA HOLDINGS CORP.
5999 Summerside Drive, Suite 112
Dallas, Texas 75252
Tax ID No.: 75-2255876
CONSUMER FINANCE HOLDINGS, INC.
5999 Summerside Drive, Suite 112
Dallas, Texas 75252
Tax ID No.: 75-2704763
PACIFIC SOUTHWEST BANK
800 North Shoreline Blvd.
Suite 200 South Tower
Corpus Christi, Texas 78401
Tax ID No.: 74-2520389
PACIFIC FINANCIAL GROUP, INC.
c/o The Corporation Trust Company
Corporation Trust Center
1209 Orange Street
Wilmington, Delaware 19801
Tax ID No.: 51-0350769
FIRST CF CORP.
4144 North Central Expressway, Suite 106
Dallas, Texas 75204
Tax ID No.: 75-2672933
<PAGE>
SUPPLEMENT B TO FORM 4
Form 4 Statement, March 1998
Name of Reporting Person
- ---------------------------
Name of Issuer
----------------
Pacific USA Holdings, Corp.
Monaco Finance, Inc.: MONFA
For the Purposes of this supplement to Form 4, Pacific USA Holdings Corp.
("Pacific"), Pacific Electric Wire & Cable Co., Ltd. ("Pacific Electric"),
Consumer Finance Holdings, Inc. ("Consumer"), Pacific Financial Group, Inc.
("Pacific Financial"), Pacific Southwest Bank ("PSB"), and First CF Corp.
("First CF") together shall be the "Reporting Person." Pacific, Consumer,
Pacific Financial, PSB, and First CF are directly or indirectly wholly owned by
Pacific Electric.
On September 1, 1998, the Reporting Person entered into a Conversion and
Rights Agreement (the "Conversion Agreement") with the Issuer. In June and July
1998, Pacific USA loaned the Issuer the principal amount of $5,000,000.
Pursuant to the Conversion Agreement, $4,463,250 of the principal amount of the
loan was converted, effective July 1, 1998, into 4,698,157 shares of the
Company's Class A Common Stock at a conversion price of $.95 per share. The
conversion price is the book value per share of the Company's issued and
outstanding Common Stock as of June 30, 1998. The closing price of the Class A
Common Stock on the Nasdaq Stock Market was $.50 per share on June 30, 1998, and
$.38 per share on September 1, 1998. The unpaid principal balance of the loan,
$536,750, likewise is convertible into Class A Common Stock at a conversion
price of $.95 per share. In connection with the Conversion Agreement, the
Issuer and the Reporting Person agreed, subject to shareholder approval, to
reduce the price for conversion of the Preferred Stock into Class A Common Stock
by a factor of four thereby increasing the number of shares of Class A Common
Stock issuable upon full conversion of the Preferred Stock from 1,178,118 shares
to 4,712,472 shares, an increase of 3,534,354 shares.
Concurrently, the Reporting Person has repurchased delinquent loans sold
to the Issuer for the Issuer's cost of $2.6 million, and pursuant to the terms
of that certain Amended and Restated Purchase Agreement dated January 8, 1998,
and signed by Issuer, Pacific, PSB, NAFCO Holding Company, L.L.C., a wholly
owned subsidiary of Pacific, and Advantage Funding Group, Inc., a partially
owned subsidiary of Pacific, the Reporting Person has or will surrender 77,221
shares of the Issuer's 8% Cumulative Convertible Preferred Stock, Series 1998-1
("Preferred Stock") to the Issuer for cancellation which, in turn, reduces the
number of shares of Class A Common Stock to 1,173,793 shares that Reporting
Person will receive on conversion of the Preferred Stock.
<PAGE>
FORM 4 ADDITIONAL SIGNATURES
Form 4 Statement, March 1998
Name of Reporting
- -------------------
Name of Issuer
----------------
Pacific USA Holdings, Corp.
Monaco Finance, Inc.: MONFA
Dated October 1, 1998
Pacific Electric Wire & Cable Co., Ltd.
By: /s/ Tung Ching-yn
------------------------------
Tung Ching-yun
Vice-President
Consumer Finance Holdings, Inc.
By: /s/ Bill C. Bradley
-------------------------------
Bill C. Bradley
Chief Executive Officer
Pacific Southwest Bank
By: /s/ Bobby Hashaway
-----------------------------
Bobby Hashaway
Chief Financial Officer
Pacific Financial Group, Inc.
By: /s/ Sun Tao-Tsun
---------------------------
Sun Tao-Tsun
Chief Executive Office
First CF Corp.
By: /s/ Bobby Hashaway
-----------------------------
Bobby Hashaway
President
<PAGE>
