<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Southwestern Life Holdings, Inc.
--------------------------------------------------------------------
(Name of Issuer)
Common Stock
----------------------------------
(Title of Class of Securities)
845606 10 2
------------------------------------------------------
(CUSIP Number)
Copy to:
Paul Chute James L. Learner, P.C.
Brown's Dock, L.L.C. Kirkland & Ellis
56 Prospect St. 200 E. Randolph Drive
Hartford, Connecticut 06115 Chicago, Illinois 60601
(860) 403-5594 (312) 861-2000
--------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
June 15, 2000
---------------------------------------------------------
(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 [_].
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 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 following pages)
Page 1 of 18 Pages
<PAGE>
----------------------- --------------------
CUSIP No. 845606 10 2 13D Page 2 of 18 Pages
----------------------- --------------------
------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1
Brown's Dock, L.L.C.
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
Not Applicable
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(D) or 2(E) [_]
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
3,071,695 shares of Common Stock
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
3,071,695 shares of Common Stock
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
3,071,695 shares of Common Stock
------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
33.9% of Common Stock and common stock equivalents
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
OO
------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
----------------------- --------------------
CUSIP No. 845606 10 2 13D Page 3 of 18 Pages
----------------------- --------------------
------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1
Phoenix Home Life Mutual Insurance Company
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
Not Applicable
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(D) or 2(E) [_]
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
New York
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
3,071,695 shares of Common Stock
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
3,071,695 shares of Common Stock
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
3,071,695 shares of Common Stock
------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
33.9% of Common Stock and common stock equivalents
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IC
------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
----------------------- --------------------
CUSIP No. 845606 10 2 13D Page 4 of 18 Pages
----------------------- --------------------
------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1
Phoenix Investment Partners, Ltd.
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
OO
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(D) or 2(E) [_]
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
3,071,695 shares of Common Stock
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
3,071,695 shares of Common Stock
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
3,071,695 shares of Common Stock
------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
33.9% of Common Stock and common stock equivalents
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IA
------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
----------------------- --------------------
CUSIP No. 845606 10 2 13D Page 5 of 18 Pages
----------------------- --------------------
------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1
Inverness Management Fund I LLC
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
Not Applicable
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(D) or 2(E) [_]
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
3,071,695 shares of Common Stock
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
3,071,695 shares of Common Stock
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
3,071,695 shares of Common Stock
------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
33.9% of Common Stock and common stock equivalents
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
OO
------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
----------------------- --------------------
CUSIP No. 845606 10 2 13D Page 6 of 18 Pages
----------------------- --------------------
------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1
WMD LLC
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
Not Applicable
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(D) or 2(E) [_]
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
3,071,695 shares of Common Stock
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
3,071,695 shares of Common Stock
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
3,071,695 shares of Common Stock
------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
33.9% of Common Stock and common stock equivalents
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
OO
------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
----------------------- --------------------
CUSIP No. 845606 10 2 13D Page 7 of 18 Pages
----------------------- --------------------
------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1
J.C. Comis LLC
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
Not Applicable
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(D) or 2(E) [_]
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
3,071,695 shares of Common Stock
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
3,071,695 shares of Common Stock
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
3,071,695 shares of Common Stock
------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
33.9% of Common Stock and common stock equivalents
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
OO
------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
----------------------- --------------------
CUSIP No. 845606 10 2 13D Page 8 of 18 Pages
----------------------- --------------------
------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1
W. McComb Dunwoody
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
Not Applicable
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(D) or 2(E) [_]
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
3,071,695 shares of Common Stock
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
3,071,695 shares of Common Stock
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
3,071,695 shares of Common Stock
------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
33.9% of Common Stock and common stock equivalents
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
----------------------- --------------------
CUSIP No. 845606 10 2 13D Page 9 of 18 Pages
----------------------- --------------------
------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1
James C. Comis, III
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
Not Applicable
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(D) or 2(E) [_]
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
3,071,695 shares of Common Stock
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
3,071,695 shares of Common Stock
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
3,071,695 shares of Common Stock
------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
33.9% of Common Stock and common stock equivalents
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
----------------------- ---------------------
CUSIP No. 845606 10 2 13D Page 10 of 18 Pages
----------------------- ---------------------
------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1
Inverness/Phoenix Partners LP
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
Not Applicable
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(D) or 2(E) [_]
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
3,071,695 shares of Common Stock
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
3,071,695 shares of Common Stock
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
3,071,695 shares of Common Stock
------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
33.9% of Common Stock and common stock equivalents
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
PN
------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
----------------------- ---------------------
CUSIP No. 845606 10 2 13D Page 11 of 18 Pages
----------------------- ---------------------
------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1
Executive Capital Partners I LP
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
Not Applicable
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(D) or 2(E) [_]
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
3,071,695 shares of Common Stock
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
3,071,695 shares of Common Stock
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
3,071,695 shares of Common Stock
------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
33.9% of Common Stock and common stock equivalents
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
PN
------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
----------------------- ---------------------
CUSIP No. 845606 10 2 13D Page 12 of 18 Pages
----------------------- ---------------------
------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1
Inverness/Phoenix Capital LLC
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
Not Applicable
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(D) or 2(E) [_]
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
3,071,695 shares of Common Stock
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
3,071,695 shares of Common Stock
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
3,071,695 shares of Common Stock
------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
33.9% of Common Stock and common stock equivalents
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
OO
------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
----------------------- ---------------------
CUSIP No. 845606 10 2 13D Page 13 of 18 Pages
----------------------- ---------------------
------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1
DCPM Holdings, Inc.
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
Not Applicable
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(D) or 2(E) [_]
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Illinois
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
3,071,695 shares of Common Stock
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
3,071,695 shares of Common Stock
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
3,071,695 shares of Common Stock
------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
33.9% of Common Stock and common stock equivalents
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
CO
------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
(Amendment No. 1)
This Amendment No. 1 amends and supplements the statements on Schedule 13D
of (i) Brown's Dock, L.L.C., (ii) Inverness/Phoenix Partners, L.P., (iii)
Executive Capital Partners I, L.P., (iv) Inverness/Phoenix Capital LLC, (v) DCPM
Holdings, Inc., (vi) Phoenix Home Life Mutual Insurance Company, (vii) Phoenix
Investment Partners, Ltd., (viii) Inverness Management Fund I LLC, a Delaware
limited liability company, (ix) WMD LLC, (x) W. McComb Dunwoody, (xi) J.C. Comis
LLC, and (xii) James C. Comis III, dated June 23, 2000 (the "Statement"). This
Amendment No.1 is being filed in connection with (i) the acquisition by the Fund
and Executive Fund of an aggregate of an additional 264,732 shares of Common
Stock in open market transactions, and (ii) the acquisition by the General
Partner of 8,000 shares of Common Stock in open market transactions. For
purposes hereof, with respect to references to shares of stock owned by the Fund
and the Executive Fund, 96.718% of such shares are owned by the Fund and 3.282%
of such shares are owned by the Executive Fund.
Capitalized terms used herein and not otherwise defined shall have the
meanings ascribed to such terms in the Statement. Except as expressly set forth
in this Amendment No. 1, there have been no material changes in the information
contained in the Statement.
Item 2. Identity and Background
-----------------------
The information set forth in Item 1 of the Statement is hereby amended in
its entirety as follows:
This Statement is being filed by each of the following persons pursuant to
Rule 13d-1(f) promulgated by the Securities and Exchange Commission (the
"Commission") pursuant to Section 13 of the Securities Exchange Act of 1934, as
amended (the "Exchange Act"): (i) Brown's Dock, L.L.C., a Delaware limited
liability company ("Brown's Dock"), by virtue of its direct beneficial ownership
of shares of Common Stock covered by this Statement; (ii) Inverness/Phoenix
Partners, L.P., a Delaware limited partnership (the "Fund"), by virtue of its
direct beneficial ownership of shares of Common Stock covered by this Statement;
(iii) Executive Capital Partners I, L.P., a Delaware limited partnership (the
"Executive Fund"), by virtue of its direct beneficial ownership of shares of
Common Stock covered by this Statement; (iv) Inverness/Phoenix Capital LLC, a
Delaware limited liability company (the "General Partner"), by virtue of its
direct beneficial ownership of shares of Common Stock covered by this Statement
and by virtue of its being the general partner of the Fund and its being general
partner of the Executive Fund; (v) DCPM Holdings, Inc., an Illinois corporation
("DCPM"), by virtue of its being a member of the General Partner; (vi) Phoenix
Home Life Mutual Insurance Company, a New York mutual life insurance company
("Phoenix"), by virtue of its being a member of Brown's Dock; (vii) Phoenix
Investment Partners, Ltd., a Delaware limited partnership ("PXP"), by virtue of
its being a member of Brown's Dock and its ownership of all of the outstanding
stock of DCPM; (viii) Inverness Management Fund I LLC, a Delaware limited
Page 14 of 18 Pages
<PAGE>
liability company, ("Inverness"), by virtue of its being a member of Brown's
Dock and its being a member of the General Partner; (ix) WMD LLC, a Delaware
limited liability company ("WMD"), by virtue of its being a controlling member
of Inverness, (x) W. McComb Dunwoody, an individual resident of the State of
Connecticut ("Dunwoody"), by virtue of his being a controlling member of WMD;
(xi) J.C. Comis LLC, a Delaware limited liability company ("JCC"), by virtue of
its being a controlling member of Inverness; and (xii) James C. Comis III, an
individual resident of the State of New Jersey ("Comis"), by virtue of his being
a controlling member of JCC. Brown's Dock, the Fund, the Executive Fund, DCPM,
Phoenix, PXP, Inverness, WMD, JCC, Dunwoody and Comis are sometimes referred to
herein individually as a "Reporting Person" and collectively as the "Reporting
Persons." The Reporting Persons may be deemed to constitute a "group" for
purposes of Section 13(d)(3) of the Act. The Fund, the Executive Fund, the
General Partner, Inverness, WMD, JCC, Dunwoody and Comis are sometimes referred
to herein collectively as the "Inverness Persons."
Information with respect to each of the Reporting Persons is given solely
by such Reporting Person, and no Reporting Person assumes responsibility for the
accuracy or completeness of information given by another Reporting Person. By
their signature on this Statement, each of the Reporting Persons agrees that
this Statement is filed on behalf of such Reporting Person.
Certain information required by this Item 2 concerning the directors and
executive officers of Phoenix, PXP and DCPM is set forth on Schedule A attached
hereto, which is incorporated herein by reference.
Brown's Dock is a holding company that was formed to invest in the Issuer.
The address of the principal business and principal office of Brown's Dock is 56
Prospect St., Hartford, Connecticut 06115.
Phoenix is a mutual insurance company in the business of life and health
insurance and annuities. The address of the principal business and principal
office of Phoenix is One American Row, Hartford, Connecticut 06115. PXP is a
registered investment advisor and owner of other affiliated investment advisors.
The address of the principal business and principal office of PXP is 56 Prospect
St., Hartford, Connecticut 06115.
DCPM, formerly known as Duff & Phelps Capital Markets, Inc., is a wholly-
owned subsidiary of PXP and its sole asset and interest is the Fund. The
address of the principal business and principal office of DCPM is 56 Prospect
St., Hartford, Connecticut 06115.
The principal business of each of the Inverness Persons is to make
investments in common and preferred stock and other interests in business
organizations, domestic or foreign, with the principal objective of appreciation
of capital invested. The address of the principal business and principal office
of each of the Inverness Persons is c/o Inverness Management I LLC, 660
Steamboat Road, Greenwich, Connecticut 06830.
Page 15 of 18 Pages
<PAGE>
During the past five years, none of the Reporting Persons nor, to the best
knowledge of the Reporting Persons, any of the persons listed on Schedule A
attached hereto, has been convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors). During the past five years, none of the
Reporting Persons was a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction as a result of which such person
was or is subject to a judgment, decree or final order enjoining future
violations of, or prohibiting or mandating activity subject to, federal or state
securities laws or finding any violation with respect to such laws.
Item 3. Source and Amount of Funds or Other Consideration.
-------------------------------------------------
The information set forth in Item 3 of the Statement is hereby amended and
supplemented as follows:
The Fund and the Executive Fund have acquired 264,732 shares of Common
Stock in open market transactions, 96.718% of which are owned by the Fund and
3.282% of which are owned by the Executive Fund. The net investment cost of
these shares was $3,915,858.92. Each of the Fund and the Executive Fund
utilized internal funds.
The General Partner acquired 8,000 shares of Common Stock in an open market
transaction. The net investment cost of these shares was $120,480.00. The
General Partner utilized internal funds.
Item 5. Interest in Securities of the Issuer.
------------------------------------
The information set forth in Item 5 of the Statement is hereby amended in its
entirety as follows:
At the close of business on August 23, 2000, (i) Brown's Dock had direct
beneficial ownership of 530,257 shares of Common Stock, (ii) the Fund and the
Executive Fund had direct beneficial ownership of 2,533,438 shares of Common
Stock, and (iii) the General Partner had direct beneficial ownership of 8,000
shares of Common Stock.
The Reporting Persons constitute a "group" for purposes of Section 13(d)(3)
of the Act, and therefore, each Reporting Person is deemed to have beneficial
ownership of 3,071,695 shares of Common Stock (the "Shares") and such ownership
would represent 33.9% of the Common Stock and common stock equivalents issued
and outstanding as of August 23, 2000.
All such ownership percentages of the Common Stock reported herein are
based on the representation of the Issuer to the Reporting Persons that, as of
June 13, 2000, there were 9,059,000 shares of Common Stock issued and
outstanding, and reported herein to the best knowledge and belief of the
Reporting Persons.
The only transactions effected by Brown's Dock in the Common Stock during
the past 60 days relates to its acquisition of 530,257 shares of Common Stock in
connection with the consummation of the Plan as reported in the Statement.
Page 16 of 18 Pages
<PAGE>
In addition to the 2,268,706 shares of Common Stock acquired by the Fund
and the Executive Fund under the Plan and as reported in the Statement, the
following table sets forth the transactions effected by the Fund and the
Executive Fund in the Common Stock during the past 60 days. Each of the
transactions set forth below reflects an acquisition or sale effected by open
market transactions. The price per share includes commissions, if any.
<TABLE>
<CAPTION>
Number of Shares
Purchase/Sale Date Price Per Share Purchased (Sold)
------------------ --------------- ----------------
<S> <C> <C>
6/15/00 $15.06 236,330
6/21/00 $12.56 28,402
</TABLE>
The only transaction effected by the General Partner in the Common Stock
during the past 60 days relates to its acquisition of 8,000 shares of Common
Stock on June 15, 2000 in an open market transaction at a price of $15.06 per
share and an aggregate purchase price of $120,480.
No person other than the Reporting Persons has the right to receive or the
power to direct the receipt of dividends from the proceeds from the sale of the
shares of Common Stock reported hereunder.
Item 7. Materials to be Filed as Exhibits.
---------------------------------
Exhibit C: Agreement of Joint Filing, dated as of August 23, 2000,
among Buyer, the Fund, the Executive Fund, DCPM, Phoenix,
PXP, the General Partner, Inverness, WMD, JCC, Dunwoody
and Comis.
Page 17 of 18 Pages
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: June 23, 2000
BROWN'S DOCK, L.L.C.
INVERNESS/PHOENIX PARTNERS LP
EXECUTIVE CAPITAL PARTNERS I LP
INVERNESS/PHOENIX CAPITAL LLC
DCPM HOLDINGS, INC.
PHOENIX HOME LIFE MUTUAL INSURANCE COMPANY
PHOENIX INVESTMENT PARTNERS, LTD.
INVERNESS MANAGEMENT FUND I LLC
WMD LLC
J.C. COMIS LLC
W. McComb Dunwoody
James C. Comis III
/s/ James L. Learner, P.C.
By: __________________________
Name: James L. Learner, P.C.
Title: Attorney-in-Fact
(Pursuant to a Power of Attorney filed
with the Commission)
Page 18 of 18 Pages
