UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(RULE 13d - 102)
Information to be included in statements filed pursuant to
13d-1(b), (c) and (d) and amendments thereto filed pursuant to
13d-2(b)
(Amendment No. )*
(Name of Issuer)
Cityscape Financial Corp. (the "Issuer").
(Title of Class of Securities)
Common Stock, $0.01 par value
(CUSIP Number) 178778106
Stephen M. Schultz, Esq., Kleinberg, Kaplan, Wolff & Cohen,
P.C., 551 Fifth Avenue, 18th Floor, New York, New York 10176,
Tel: (212) 986-6000
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
(Date of Event which Requires Filing of this Statement)
February 24, 1998
Check the appropriate box to designate the rule pursuant to
which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-(c)
Rule 13d-1(d)
Note: Six copies of this statement, including all exhibits,
should be filed with the Commission. See Rule 13d-7(b) 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 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 ("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).
(Continued on the Following Pages)
(Page 1 of 10 Pages)<PAGE>
1. NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES
ONLY)
Elliott Associates, L.P., a Delaware Limited
Partnership
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)
(b)
2. SEC USE ONLY
3. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON
WITH
4. SOLE VOTING POWER
3,937,600
5. SHARED VOTING POWER
0
6. SOLE DISPOSITIVE POWER
3,937,600
7. SHARED DISPOSITIVE POWER
0
8. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
3,937,600
9. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES*
10. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.8%
11. TYPE OF REPORTING PERSON*
PN
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-10
(INCLUDING THE CERTIFICATION IN ITEM 10(a) or 10(b) AS
APPLICABLE), AND THE SIGNATURE ATTESTATION.
<PAGE>
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES
ONLY)
Westgate International, L.P., a Cayman Islands
Limited Partnership
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)
(b)
2 SEC USE ONLY
3 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands, British West Indies
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON
WITH
4 SOLE VOTING POWER
0
5 SHARED VOTING POWER
3,959,806
6 SOLE DISPOSITIVE POWER
0
7 SHARED DISPOSITIVE POWER
3,959,806
8 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
3,959,806
9 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES*
10 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.8%
11 TYPE OF REPORTING PERSON*
PN
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-10
(INCLUDING THE CERTIFICATION IN ITEM 10(a) or 10(b) AS
APPLICABLE), AND THE SIGNATURE ATTESTATION.
<PAGE>
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES
ONLY)
Martley International, Inc., a Delaware corporation
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)
(b)
2 SEC USE ONLY
3 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON
WITH
4 SOLE VOTING POWER
0
5 SHARED VOTING POWER
3,959,806
6 SOLE DISPOSITIVE POWER
0
7 SHARED DISPOSITIVE POWER
3,959,806
8 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
3,959,806
9 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
EXCLUDES CERTAIN SHARES*
10 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.8%
11 TYPE OF REPORTING PERSON*
CO
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-10
(INCLUDING THE CERTIFICATION IN ITEM 10(a) or 10(b) AS
APPLICABLE), AND THE SIGNATURE ATTESTATION.
<PAGE>
ITEM 1(a).Name of Issuer:
Cityscape Financial Corp. (the "Issuer").
Item 1(b).Address of Issuer's Principal Executive Offices:
565 Taxter Road
Elmsford, New York 10523
Item 2(a). Name of Persons Filing:
The names of the persons filing this statement on
Schedule 13G are: Elliott Associates, L.P., a Delaware
limited partnership, and its wholly-owned subsidiaries
("Elliott"), Westgate International, L.P., a Cayman
Islands limited partnership ("Westgate"), and Martley
International, Inc., a Delaware corporation ("Martley").
Paul E. Singer ("Singer") and Braxton Associates, L.P., a
Delaware limited partnership ("Braxton LP"), which is
controlled by Singer, are the general partners of Elliott.
Hambledon, Inc., a Cayman Islands corporation
("Hambledon"), is the sole general partner of Westgate.
Martley is the investment manager for Westgate. Martley
expressly disclaims equitable ownership of and pecuniary
interest in any Common Stock.
Item 2(b).Address of Principal Business Office or, if None,
Residence:
ELLIOTT
The business address of Elliott is 712 Fifth
Avenue, 36th Floor, New York, New York 10019.
SINGER
The business address of Singer is 712 Fifth Avenue,
36th Floor, New York, New York 10019.
BRAXTON LP
The business address of Braxton LP is 712 Fifth
Avenue, 36th Floor, New York, New York 10019.
WESTGATE
The business address of Westgate is Westgate
International, L.P., c/o Midland Bank Trust Corporation
(Cayman) Limited, P.O. Box 1109, Mary Street, Grand
Cayman, Cayman Islands, British West Indies.
HAMBLETON
The business address of Hambledon is
Hambleton, Inc., c/o Midland Bank Trust Corporation
(Cayman) Limited, P.O. Box 1109, Mary Street, Grand
Cayman, Cayman Islands, British West Indies.
MARTLEY INTERNATIONAL, INC.
The business address of Martley is 712 Fifth Avenue,
36th Floor, New York, New York 10019.
Item 2(c).Citizenship:
Elliott Associates, L.P. is a Limited Partnership
formed under the laws of Delaware.
Westgate International, L.P. is a Limited
Partnership formed under the laws of the Cayman Islands,
British West Indies.
Martley International, Inc. is a corporation formed
under the laws of Delaware.
Item 2(d).Title of Class of Securities
Common Stock, $0.01 par value (the "Securities").
Item 2(e).CUSIP Number: 178778106
Item 3. If This Statement is Filed Pursuant to Rule 13d-
1(b), or 13d-2(b) or (c), Check Whether the Person
Filing is a:
(a) Broker or dealer registered under Section 15 of
the Exchange Act.
(b) Bank as defined in Section 3(a)(6) of the
Exchange Act.
(c) Insurance company defined in Section 3(a)(19)
of the Exchange Act.
(d) Investment company registered under Section 8
of the Investment Company Act.
(e) An investment adviser in accordance with Rule
13d-1(b)(1)(ii)(E).
(f) An employee benefit plan or endowment fund in
accordance with Rule 13d-1(b)(1)(ii)(F).
(g) A parent holding company or control person in
accordance with Rule 13d-1(b)(1)(ii)(G).
(h) A savings association as defined in Section
3(b) of the Federal Deposit Insurance Act.
(i) A church plan that is excluded from the
definition of an investment company under
Section 3(c)(14) of the Investment Company Act;
(j) Group, in accordance with Rule
13d-1(b)(1)(ii)(J).
If this statement is filed pursuant to Rule 13d-1(c),
check this box
Item 4. Ownership.
Provide the following information regarding the aggregate
number and percentage of the class of securities of the
issuer identified in Item 1.
(a) Amount beneficially owned: Certain of the
Securities shown below as owned by the reporting
persons are deemed to be beneficially owned by such
reporting persons through their ownership of
convertible securities of the Issuer. Because of
current limitations on the ability of the reporting
persons to convert such convertible securities, the
reporting persons own an aggregate of 4,998,425
shares of Securities of the Issuer, constituting an
aggregate of 9.9% of all of the outstanding
Securities.
(b) Percent of class: Elliott has beneficial ownership
of 3,937,600 shares of the Securities constituting
7.8% of all outstanding Securities. Westgate and
Martley together have beneficial ownership of
3,959,806 shares of the Securities, constituting
7.8% of all of the outstanding Securities.
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote
Elliott has sole power to vote or
direct the vote of 3,937,600 shares of the
Securities of the Issuer.
(ii) Shared power to vote or to direct the vote
Westgate and Martley together have
shared power to vote or direct the vote of
3,959,806 shares of the Securities of the
Issuer.
(iii) Sole power to dispose or to direct the
disposition of
Elliott has sole power to dispose or
direct the disposition of 3,937,600 shares of
the Securities of the Issuer.
(iv) Shared power to dispose or to direct the
disposition of
Westgate and Martley together have
shared power to dispose or direct the
disposition of 3,959,806 shares of the
Securities of the Issuer.
In accordance with rule 13d-1(k), the reporting
persons have executed a Joint Filing Agreement
annexed hereto as Exhibit A.
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact
that as of the date hereof the reporting person has
ceased to be the beneficial owner of more than five
percent of the class of securities, check the
following [ ].
Item 6. Ownership of More than Five Percent on Behalf of
Anther Person.
Not applicable.
Item 7. Identification and Classification of the Subsidiary
Which Acquired the Security Being Reported on by
the Parent Holding Company.
Not applicable.
Item 8. Identification and Classification of Members of the
Group.
Not applicable.
Item 9. Notice of Dissolution of Group.
Not applicable.
Item 10. Certification.
By signing below the undersigned hereby certifies
that, to the best of its knowledge and belief, the
Securities were not acquired and are not held for
the purpose of or with the effect of changing or
influencing the control of the Issuer of the
Securities and were not acquired and are not held
in connection with or as a participant in any
transaction having that purpose or effect.
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of its knowledge
and belief, each of the undersigned certifies that the
information with respect to it set forth in this statement is
true, complete, and correct.
Dated: ELLIOTT ASSOCIATES, L.P.
March 6, 1998
By:/s/Paul E. Singer
Paul E. Singer
General Partner
WESTGATE INTERNATIONAL, L.P.
By: Martley International, Inc., as
Investment Manager
By:/s/Paul E. Singer
Paul E. Singer
President
MARTLEY INTERNATIONAL, INC.
By:/s/Paul E. Singer
Paul E. Singer
President
<PAGE>
EXHIBIT A
JOINT FILING AGREEMENT
The undersigned hereby agree that the statement on
Schedule 13G with respect to the Common Stock of Cityscape
Financial Inc., dated March 6, 1998 is, and any further
amendments thereto signed by each of the undersigned shall be,
filed on behalf of each of the undersigned pursuant to and in
accordance with the provisions of Rule 13d-1(k) under the
Securities Exchange Act of 1934, as amended.
Dated as of: March 6, 1998
ELLIOTT ASSOCIATES, L.P. WESTGATE INTERNATIONAL, L.P.
By:/s/Paul E. Singer By: Martley International,
Paul E. Singer Inc.,
General Partner as Investment Manager
By:/s/Paul E. Singer
Paul E. Singer
President
MARTLEY INTERNATIONAL, INC.
By:/s/Paul E. Singer
Paul E. Singer
President
