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- ----------------- 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 ----------------------------
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|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 Corp.(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) | | |
| | | March 1998 |----------------------------------------|
|----------------------------------------| |------------------------|7. Individual or Joint/Group Filing |
| (Street) | 75-2255876 |5.If Amendment, Date of | (Check Applicable Line) |
| | | Original (Month/Year) | |
| | | | Form filed by One Reporting Person |
|Dallas TX 75252 | | |--- |
| | | | 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 | 03/04/1998 | J | | 811,152 | D |$2.00 per|2,311,152 (2) |(3) |(3) |
| | | | | | |share | | | |
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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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FORM 4 (continued) TABLE II - Derivative Securities Acquired, Disposed of, Beneficially Owned
(e.g., puts, calls, warrants, options, convertible security)
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|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% Cumula-|(5) |03/04|J | |2,433,457 | |03/04|None |Class A |1,216,728 |$2.00/sh |2,433,457 |(4) |(4) |
|tive Conv-| |/1998| | | | |/1998| | | | | | | |
|ertible | | | | | | | | | | | | | | |
- ------------------------------------------------------------------------------------------------------------------------------------
Explanation of Responses:
(1) Designated Filer. See attached Supplement A for group beneficial owners.
(2) Includes 1,500,000 shares of Class A Common Stock, previously acquired 4/25/97.
(3) 1,500,000 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. 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
owned subsidiary of Pacific Southwest Bank, which is a wholly
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, Chief Financial Officer 03/31/1998
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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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
<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
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") are referred to below in this
Supplement B to Form 4 Pacific, Consumer, Pacific Financial, PSB, and First CF
are directly or indirectly wholly owned by Pacific Electric.
Pursuant to the terms of an Amended and Restated Asset Purchase Agreement,
dated January 8, 1998, by and among Monaco, Pacific, PSB, NAFCO Holding Company
LLC, a Delaware limited liability company and wholly owned subsidiary of Pacific
("NAFCO"), and Advantage Funding Group, Inc., a Delaware corporation and
partially owned subsidiary of Pacific (the "Purchase Agreement"), Pacific sold
to Monaco sub-prime automobile loans having an unpaid principal balance of
$81,115,232.89, consisting of the following loans: (1) Loans with a
$59,211,732.89 principal balance owned by NAFCO and (2) Loans with a
$21,903,500.00 principal balance owned by Advantage. In exchange for the loans,
Monaco paid $77,870,623.60, of which $73,003,709.60 was paid in cash. Monaco
paid the remaining $4,866,914 by issuing to Pacific 2,433,457 shares of Monaco's
8% Cumulative Convertible Preferred Stock, Series 1998-1 valued at $2.00 per
share. Each share of Preferred Stock is convertible at any time into one-half
share of Class A Common Stock, or an aggregate of up to 1,216,728 shares of
Class A Common Stock. Such shares of Preferred Stock will be held by PSB's
wholly owned subsidiary, First CF.
Also, pursuant to the terms of the Purchase Agreement, PSB entered in to a
Loan Loss Reimbursement Agreement whereby PSB agreed to reimburse Monaco for up
to 15% of certain losses incurred by Monaco in connection with the loans
acquired from NAFCO and Advantage. In consideration therefor, Monaco paid PSB
an amount equal to 2% of the principal amount of the acquired loans in the form
of 811,152 shares of Class A Common Stock, valued at $2.00 per share. Such
shares of Class A Common Stock will be held by PSB's wholly owned subsidiary,
First CF.
Also, pursuant to the terms of the Purchase Agreement, Monaco may be
obligated to make additional payments to NAFCO based on the performance of
certain other assets acquired from NAFCO and the results of operations, if any,
with loan originators previously associated with NAFCO. If there are any
pre-tax earnings associated with these assets and/or operations for calendar
years 1998 and 1999, Monaco is obligated to pay NAFCO amounts equal to two and
one-half (2-1/2) times such pre-tax earnings in the form of shares of Monaco's
Class A Common Stock valued at the average daily closing price of such stock on
the Nasdaq Stock Market for the last ten days of such calendar year. The number
of shares of Class A Common Stock which Monaco may be required to issue to NAFCO
pursuant to these agreements cannot be determined at present.
<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 March 31, 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
