<PAGE>
-------------------------------
OMB APPROVAL
-------------------------------
OMB Number: 3235-0145
Expires: November 30, 1999
Estimated average burden
hours per response . . . 14.90
-------------------------------
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b), (c) and(d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2
(Amendment No. 1)1
NAB Asset Corporation
(Name of Issuer)
Common Stock, par value $0.10 per share
(Title of Class of Securities)
628712200
(CUSIP Number)
February 7, 2000
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
Rule 13d-1(b)
X Rule 13d-1(c)
Rule 13d-1(d)
- ---------------------------
1 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 the 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 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>
13G
===============================
CUSIP No. 628712200
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Partners, L.P.
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ] **
** The reporting persons making this filing hold an aggregate of
252,957 Shares, which is 5.0% of the class of securities.
The reporting person on this cover page, however, is a beneficial
owner only of the securities reported by it on this cover page.
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- ----------------------=========================================================
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 89,358
------=========================================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
89,358
- ---------======================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
89,358
- ---------======================================================================
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.8%
- ---------======================================================================
12 TYPE OF REPORTING PERSON*
PN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 25 Pages
<PAGE>
13G
===============================
CUSIP No. 628712200
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Institutional Partners, L.P.
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ] **
** The reporting persons making this filing hold an aggregate of
252,957 Shares, which is 5.0% of the class of securities.
The reporting person on this cover page, however, is a beneficial
owner only of the securities reported by it on this cover page.
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- ----------------------=========================================================
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 82,296
------=========================================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
82,296
- ---------======================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
82,296
- ---------======================================================================
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.6%
- ---------======================================================================
12 TYPE OF REPORTING PERSON*
PN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 25 Pages
<PAGE>
13G
===============================
CUSIP No. 628712200
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Institutional Partners II, L.P.
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ] **
** The reporting persons making this filing hold an aggregate of
252,957 Shares, which is 5.0% of the class of securities.
The reporting person on this cover page, however, is a beneficial
owner only of the securities reported by it on this cover page.
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- ----------------------=========================================================
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 21,418
------=========================================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
21,418
- ---------======================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
21,418
- ---------======================================================================
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.4%
- ---------======================================================================
12 TYPE OF REPORTING PERSON*
PN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 25 Pages
<PAGE>
13G
===============================
CUSIP No. 628712200
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Tinicum Partners, L.P.
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ] **
** The reporting persons making this filing hold an aggregate of
252,957 Shares, which is 5.0% of the class of securities.
The reporting person on this cover page, however, is a beneficial
owner only of the securities reported by it on this cover page.
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- ----------------------=========================================================
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 28,702
------=========================================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
28,702
- ---------======================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
28,702
- ---------======================================================================
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.6%
- ---------======================================================================
12 TYPE OF REPORTING PERSON*
PN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 5 of 25 Pages
<PAGE>
13G
===============================
CUSIP No. 628712200
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Management, L.L.C.
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ] **
** The reporting persons making this filing hold an aggregate of
252,957 Shares, which is 5.0% of the class of securities.
The reporting person on this cover page, however, may be deemed a
beneficial owner only of the securities reported by it on this cover
page.
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ----------------------=========================================================
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 31,183
------=========================================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
31,183
- ---------======================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
31,183
- ---------======================================================================
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.6%
- ---------======================================================================
12 TYPE OF REPORTING PERSON*
IA, OO
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 6 of 25 Pages
<PAGE>
13G
===============================
CUSIP No. 628712200
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Partners, L.L.C.
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ] **
** The reporting persons making this filing hold an aggregate of
252,957 Shares, which is 5.0% of the class of securities.
The reporting person on this cover page, however, may be deemed a
beneficial owner only of the securities reported by it on this cover
page.
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ----------------------=========================================================
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 221,774
------=========================================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
221,774
- ---------======================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
221,774
- ---------======================================================================
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.4%
- ---------======================================================================
12 TYPE OF REPORTING PERSON*
OO
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 7 of 25 Pages
<PAGE>
13G
===============================
CUSIP No. 628712200
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Enrique H. Boilini
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ] **
** The reporting persons making this filing hold an aggregate of
252,957 Shares, which is 5.0% of the class of securities.
The reporting person on this cover page, however, may be deemed a
beneficial owner only of the securities reported by it on this cover
page.
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Argentina
- ----------------------=========================================================
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 252,957
------=========================================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
252,957
- ---------======================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
252,957
- ---------======================================================================
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.0%
- ---------======================================================================
12 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 8 of 25 Pages
<PAGE>
13G
===============================
CUSIP No. 628712200
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
David I. Cohen
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ] **
** The reporting persons making this filing hold an aggregate of
252,957 Shares, which is 5.0% of the class of securities.
The reporting person on this cover page, however, may be deemed a
beneficial owner only of the securities reported by it on this cover
page.
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
South Africa
- ----------------------=========================================================
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 252,957
------=========================================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
252,957
- ---------======================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
252,957
- ---------======================================================================
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.0%
- ---------======================================================================
12 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 9 of 25 Pages
<PAGE>
13G
===============================
CUSIP No. 628712200
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Joseph F. Downes
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ] **
** The reporting persons making this filing hold an aggregate of
252,957 Shares, which is 5.0% of the class of securities.
The reporting person on this cover page, however, may be deemed a
beneficial owner only of the securities reported by it on this cover
page.
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ----------------------=========================================================
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 252,957
------=========================================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
252,957
- ---------======================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
252,957
- ---------======================================================================
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.0%
- ---------======================================================================
12 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 10 of 25 Pages
<PAGE>
13G
===============================
CUSIP No. 628712200
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
William F. Duhamel
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ] **
** The reporting persons making this filing hold an aggregate of
252,957 Shares, which is 5.0% of the class of securities.
The reporting person on this cover page, however, may be deemed a
beneficial owner only of the securities reported by it on this cover
page.
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ----------------------=========================================================
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 252,957
------=========================================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
252,957
- ---------======================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
252,957
- ---------======================================================================
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.0%
- ---------======================================================================
12 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 11 of 25 Pages
<PAGE>
13G
===============================
CUSIP No. 628712200
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Fleur E. Fairman
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ] **
** The reporting persons making this filing hold an aggregate of
252,957 Shares, which is 5.0% of the class of securities.
The reporting person on this cover page, however, may be deemed a
beneficial owner only of the securities reported by it on this cover
page.
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ----------------------=========================================================
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 221,774
------=========================================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
221,774
- ---------======================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
221,774
- ---------======================================================================
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.4%
- ---------======================================================================
12 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 12 of 25 Pages
<PAGE>
13G
===============================
CUSIP No. 628712200
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Jason M. Fish
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ] **
** The reporting persons making this filing hold an aggregate of
252,957 Shares, which is 5.0% of the class of securities.
The reporting person on this cover page, however, may be deemed a
beneficial owner only of the securities reported by it on this cover
page.
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ----------------------=========================================================
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 252,957
------=========================================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
252,957
- ---------======================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
252,957
- ---------======================================================================
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.0%
- ---------======================================================================
12 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 13 of 25 Pages
<PAGE>
13G
===============================
CUSIP No. 628712200
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Andrew B. Fremder
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ] **
** The reporting persons making this filing hold an aggregate of
252,957 Shares, which is 5.0% of the class of securities.
The reporting person on this cover page, however, may be deemed a
beneficial owner only of the securities reported by it on this cover
page.
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ----------------------=========================================================
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 252,957
------=========================================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
252,957
- ---------======================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
252,957
- ---------======================================================================
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.0%
- ---------======================================================================
12 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 14 of 25 Pages
<PAGE>
13G
===============================
CUSIP No. 628712200
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Richard B. Fried
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ] **
** The reporting persons making this filing hold an aggregate of
252,957 Shares, which is 5.0% of the class of securities.
The reporting person on this cover page, however, may be deemed a
beneficial owner only of the securities reported by it on this cover
page.
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ----------------------=========================================================
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 252,957
------=========================================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
252,957
- ---------======================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
252,957
- ---------======================================================================
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.0%
- ---------======================================================================
12 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 15 of 25 Pages
<PAGE>
13G
===============================
CUSIP No. 628712200
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
William F. Mellin
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ] **
** The reporting persons making this filing hold an aggregate of
252,957 Shares, which is 5.0% of the class of securities.
The reporting person on this cover page, however, may be deemed a
beneficial owner only of the securities reported by it on this cover
page.
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ----------------------=========================================================
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 252,957
------=========================================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
252,957
- ---------======================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
252,957
- ---------======================================================================
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.0%
- ---------======================================================================
12 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 16 of 25 Pages
<PAGE>
13G
===============================
CUSIP No. 628712200
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Stephen L. Millham
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ] **
** The reporting persons making this filing hold an aggregate of
252,957 Shares, which is 5.0% of the class of securities.
The reporting person on this cover page, however, may be deemed a
beneficial owner only of the securities reported by it on this cover
page.
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ----------------------=========================================================
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 252,957
------=========================================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
252,957
- ---------======================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
252,957
- ---------======================================================================
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.0%
- ---------======================================================================
12 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 17 of 25 Pages
<PAGE>
13G
===============================
CUSIP No. 628712200
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Meridee A. Moore
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ] **
** The reporting persons making this filing hold an aggregate of
252,957 Shares, which is 5.0% of the class of securities.
The reporting person on this cover page, however, may be deemed a
beneficial owner only of the securities reported by it on this cover
page.
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ----------------------=========================================================
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 252,957
------=========================================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
252,957
- ---------======================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
252,957
- ---------======================================================================
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.0%
- ---------======================================================================
12 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 18 of 25 Pages
<PAGE>
13G
===============================
CUSIP No. 628712200
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Thomas F. Steyer
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ] **
** The reporting persons making this filing hold an aggregate of
252,957 Shares, which is 5.0% of the class of securities.
The reporting person on this cover page, however, may be deemed a
beneficial owner only of the securities reported by it on this cover
page.
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ----------------------=========================================================
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 252,957
------=========================================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
252,957
- ---------======================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
252,957
- ---------======================================================================
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.0%
- ---------======================================================================
12 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 19 of 25 Pages
<PAGE>
13G
===============================
CUSIP No. 628712200
===============================
- ---------======================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Mark C. Wehrly
- ---------======================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ X ] **
** The reporting persons making this filing hold an aggregate of
252,957 Shares, which is 5.0% of the class of securities.
The reporting person on this cover page, however, may be deemed a
beneficial owner only of the securities reported by it on this cover
page.
- ---------======================================================================
3 SEC USE ONLY
- ---------======================================================================
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ----------------------=========================================================
NUMBER OF 5 SOLE VOTING POWER
SHARES -0-
------=========================================================
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 252,957
------=========================================================
EACH 7 SOLE DISPOSITIVE POWER
REPORTING -0-
------=========================================================
PERSON WITH 8 SHARED DISPOSITIVE POWER
252,957
- ---------======================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
252,957
- ---------======================================================================
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES* [ ]
- ---------======================================================================
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.0%
- ---------======================================================================
12 TYPE OF REPORTING PERSON*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 20 of 25 Pages
<PAGE>
This Amendment No. 1 to Schedule 13G amends the Schedule 13G initially
filed on March 26, 1999 (collectively, with all amendments thereto, the
"Schedule 13G")2.
Item 1. Issuer
(a) Name of Issuer:
NAB Asset Corporation (the "Company")
(b) Address of Issuer's Principal Executive Offices:
23361 Madero, Suite 200, Irvine, California 92691
Item 2. Identity And Background.
Title Of Class Of Securities And CUSIP Number (Item 2(d) and (e))
This statement relates to Shares of Common Stock, par value $0.10 per share
(the "Shares") of the Company. The CUSIP number of the Shares is 628712200.
Name Of Persons Filing, Address Of Principal Business Office And
Citizenship (Item 2(a), (b) and (c))
This statement is filed by the entities and persons listed below, all of
whom together are referred to herein as the "Reporting Persons."
The Partnerships
(i) Farallon Capital Partners, L.P., a California limited
partnership ("FCP"), with respect to the Shares held by it;
(ii) Farallon Capital Institutional Partners, L.P., a California
limited partnership ("FCIP"), with respect to the Shares held
by it;
(iii)Farallon Capital Institutional Partners II, L.P., a California
limited partnership ("FCIP II"), with respect to the Shares
held by it;
(iv)Tinicum Partners, L.P., a New York limited partnership
("Tinicum"), with respect to the Shares held by it; and
FCP, FCIP, FCIP II and Tinicum are together referred to herein as the
"Partnerships."
The Management Company
- ---------------------------
2 The original Schedule 13G were filed under CIK # 0001012168. This
amendment was filed under CIK # 0000909661.
Page 21 of 25 Pages
<PAGE>
(v) Farallon Capital Management, L.L.C., a Delaware limited
liability company (the "Management Company"), with respect to
the Shares held by an account managed by the Management Company
(the "Managed Account")3.
The General Partner Of The Partnerships
(vi) Farallon Partners, L.L.C., a Delaware limited liability company
which is the general partner of each of the Partnerships (the
"General Partner"), with respect to the Shares held by each of
the Partnerships.
The Managing Members Of The General Partner And The Management Company
(vii)The following twelve persons who are managing members of both
the General Partner and the Management Company, with respect to
the Shares held by the Partnerships and the Managed Account:
Enrique H. Boilini ("Boilini"), David I. Cohen ("Cohen"),
Joseph F. Downes ("Downes"), William F. Duhamel ("Duhamel"),
Jason M. Fish ("Fish"), Andrew B. Fremder ("Fremder"), Richard
B. Fried ("Fried"), William F. Mellin ("Mellin"), Stephen L.
Millham ("Millham"), Meridee A. Moore ("Moore"), Thomas F.
Steyer ("Steyer") and Mark C. Wehrly ("Wehrly"); and
(viii) the thirteenth managing member of the General Partner, Fleur
E. Fairman ("Fairman"), with respect to the Shares held by the
Partnerships.
Boilini, Cohen, Downes, Duhamel, Fairman, Fish, Fremder, Fried, Mellin,
Millham, Moore, Steyer and Wehrly are together referred to herein as the
"Individual Reporting Persons."
The citizenship of each of the Partnerships, the General Partner and the
Management Company is set forth above. Each of the Individual Reporting Persons
is a United States citizen other than (i) Enrique H. Boilini who is an
Argentinean citizen and (ii) David I. Cohen who is a South African citizen.
The address of the principal business office of each of the Reporting
Persons other than Enrique Boilini is c/o Farallon Capital Management, L.L.C.,
One Maritime Plaza, Suite 1325, San Francisco, California 94111. The address of
Enrique Boilini is c/o Farallon Capital Management, L.L.C., 75 Holly Hill Lane,
Greenwich, Connecticut 06830.
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 An Entity Specified In (a)-(j):
Not Applicable.
- ---------------------------
3 The name and address of the Managed Account is The Absolute Return Fund
of The Common Fund, a non-profit corporation whose principal address is 450 Post
Road East, Westport, Connecticut 06881.
Page 22 of 25 Pages
<PAGE>
If This Statement Is Filed Pursuant To Rule 13d-1(c), Check This Box. [ X ]
Item 4. Ownership
The information required by Items 4(a) - (c) and set forth in Rows 5
through 11 of the cover page for each Reporting Person hereto is incorporated
herein by reference for each such Reporting Person.
The Shares reported hereby for the Partnerships are owned directly by the
Partnerships and those reported by the Management Company on behalf of the
Managed Account is owned directly by the Managed Account. The General Partner,
as general partner to the Partnerships, may be deemed to be the beneficial owner
of all such Shares owned by the Partnerships. The Management Company, as
investment adviser to the Managed Account, may be deemed to be the beneficial
owner of all such Shares owned by the Managed Account. The twelve Individual
Reporting Persons who are managing members of both the General Partner and the
Management Company may each be deemed to be the beneficial owner of all such
Shares held by the Partnerships and the Managed Account. Fairman, as a managing
member of only the General Partner, may be deemed to be the beneficial owner of
all such Shares held by the Partnerships. Each of the Management Company, the
General Partner and the Individual Reporting Persons hereby disclaims any
beneficial ownership of any such Shares.
Item 5. Ownership Of Five Percent Or Less Of A Class
If this statement is being filed to report the fact that, on the
date hereof, the Reporting Persons are not the deemed beneficial
owner of more than five percent of the class of securities, check
the following [ X ]4.
Item 6. Ownership Of More Than Five Percent On Behalf Of Another 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
- -----------------------------
4 The Reporting Persons hold an aggregate of 252,957 Shares, which is 4.97%
of the class of securities. The percentage in row 11 of each cover page hereto
is reported at 5.0% pursuant to the instructions to the Schedule 13G.
Page 23 of 25 Pages
<PAGE>
Not Applicable.
Item 10. Certification
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above 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 24 of 25 Pages
<PAGE>
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Dated: February 7, 2000
/s/ Joseph F. Downes
----------------------------------------
FARALLON PARTNERS, L.L.C.,
on its own behalf and as General Partner of
FARALLON CAPITAL PARTNERS, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS II, L.P.,
And TINICUM PARTNERS, L.P.,
By Joseph F. Downes
Managing Member
/s/ Joseph F. Downes
----------------------------------------
FARALLON CAPITAL MANAGEMENT, L.L.C.,
By Joseph F. Downes
Managing Member
/s/ Joseph F. Downes
----------------------------------------
Joseph F. Downes, individually and as
attorney-in-fact for each of Enrique H. Boilini,
David I. Cohen, William F. Duhamel,
Fleur E. Fairman, Jason M. Fish, Andrew B. Fremder,
Richard B. Fried, William F. Mellin, Stephen L.
Millham, Meridee A. Moore, Thomas F. Steyer
and Mark C. Wehrly.
The Powers of Attorney, each executed by Boilini, Cohen, Fairman, Fish,
Fremder, Mellin, Millham, Moore and Steyer authorizing Downes to sign and file
this Schedule 13G on each person's behalf, which were filed with Amendment No. 1
to the Schedule 13D filed with the Securities and Exchange Commission on January
20, 1998, by such Reporting Persons with respect to the Units of Spiros
Development Corporation II, Inc., are hereby incorporated by reference. The
Powers of Attorney, each executed by Duhamel and Fried authorizing Downes to
sign and file this Schedule 13G on each person's behalf, which were filed with
Amendment No. 7 to the Schedule 13D filed with the Securities and Exchange
Commission on February 9, 1999 by such Reporting Persons with respect to the
Callable Class A Common Stock of Crescendo Pharmaceuticals Corporation, are
hereby incorporated by reference. The Power of Attorney executed by Mark C.
Wehrly authorizing Downes to sign and file this Schedule 13G on his behalf,
which was filed with Amendment No. 4 to the Schedule 13D filed with the
Securities and Exchange Commission on January 18, 2000, by such Reporting Person
with respect to the Class A Common Stock of Momentum Business Applications,
Inc., is hereby incorporated by reference.
Page 25 of 25 Pages
