UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Amendment No. 2
to
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Dyersburg Corporation
(Name of Issuer)
Common Stock, par value $.01 per share
(Title of Class of Securities)
267575-10-8
(CUSIP Number)
Kenneth M. Socha, Esquire
Suite 610
1627 I Street, N.W.
Washington, D.C. 20006
(202) 452-0101
------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
November 6, 1996
(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 ___.
Check the following box if a fee is being paid with the statement _.
Page 1 of 13
CUSIP NO. 267575-10-8
<PAGE>
1) Name of Reporting Person; S.S. or I.R.S. Identification No. of Above
Person.
Kurt T. Borowsky
- --------------------------------------------------------------------------------
2) Check the Appropriate Box if a Member of a Group
(a) __
(b) X
- --------------------------------------------------------------------------------
3) SEC Use Only
- --------------------------------------------------------------------------------
4) Source of Funds
Not Applicable
- --------------------------------------------------------------------------------
5) Check Box If Disclosure of Legal Proceedings Is Required Pursuant to
Items 2(d) or 2(e) /___/
- --------------------------------------------------------------------------------
6) Citizenship or Place of Organization
United States
-------------------------------------------------------------------------------
Number of Shares 7) Sole Voting Power ................. 177,263
Beneficially Owned _______________________________________________
by Each Reporting 8) Shared Voting Power ............... 1,595,370
Person With _______________________________________________
9) Sole Dispositive Powers ........... 177,263
_______________________________________________
10) Shared Dispositive Power .......... 1,595,370
- --------------------------------------------------------------------------------
11) Aggregate Amount Beneficially Owned by
Each Reporting Person ..................................... 1,772,633
- --------------------------------------------------------------------------------
12) Check Box if the Aggregate Amount in Row (11) Excludes
Certain Shares ........................................ Not Applicable
- --------------------------------------------------------------------------------
13) Percent of Class Represented by Amount in Row (11) ..... 13.50%
- --------------------------------------------------------------------------------
14) Type of Reporting Person ................................. IN
Page 2 of 13
<PAGE>
CUSIP NO. 267575-10-8
1) Name of Reporting Person; S.S. or I.R.S. Identification No. of Above
Person.
David J. Roy
- --------------------------------------------------------------------------------
2) Check the Appropriate Box if a Member of a Group
(a) __
(b) X
- --------------------------------------------------------------------------------
3) SEC Use Only
- --------------------------------------------------------------------------------
4) Source of Funds
Not Applicable
- --------------------------------------------------------------------------------
5) Check Box If Disclosure of Legal Proceedings Is Required Pursuant to
Items 2(d) or 2(e) /___/
- --------------------------------------------------------------------------------
6) Citizenship or Place of Organization
United States
- --------------------------------------------------------------------------------
Number of Shares 7) Sole Voting Power ................ -0-
Beneficially Owned _____________________________________________
by Each Reporting 8) Shared Voting Power .............. 1,494,670
Person With _____________________________________________
9) Sole Dispositive Powers .......... -0-
_____________________________________________
10) Shared Dispositive Power ......... 1,494,670
- --------------------------------------------------------------------------------
11) Aggregate Amount Beneficially Owned by
Each Reporting Person .................................... 1,494,670
- --------------------------------------------------------------------------------
12) Check Box if the Aggregate Amount in Row (11) Excludes
Certain Shares .................................. Not Applicable
- --------------------------------------------------------------------------------
13) Percent of Class Represented by Amount in Row (11) ............ 11.39%
- --------------------------------------------------------------------------------
14) Type of Reporting Person ....................................... IN
Page 3 of 13
<PAGE>
CUSIP NO. 267575-10-8
1) Name of Reporting Person; S.S. or I.R.S. Identification No. of Above
Person.
Van Beuren Management Trust
- --------------------------------------------------------------------------------
2) Check the Appropriate Box if a Member of a Group
(a) __
(b) X
- --------------------------------------------------------------------------------
3) SEC Use Only
- --------------------------------------------------------------------------------
4) Source of Funds
Not Applicable
- --------------------------------------------------------------------------------
5) Check Box If Disclosure of Legal Proceedings Is Required Pursuant to
Items 2(d) or 2(e) /___/
- --------------------------------------------------------------------------------
6) Citizenship or Place of Organization
United States
- --------------------------------------------------------------------------------
Number of Shares 7) Sole Voting Power ................... -0-
Beneficially Owned ______________________________________________
by Each Reporting 8) Shared Voting Power ................. 394,670
Person With ______________________________________________
9) Sole Dispositive Powers ............. -0-
______________________________________________
10) Shared Dispositive Power ............ 394,670
- --------------------------------------------------------------------------------
11) Aggregate Amount Beneficially Owned by
Each Reporting Person ........................................ 394,670
- --------------------------------------------------------------------------------
12) Check Box if the Aggregate Amount in Row (11) Excludes
Certain Shares .................................. Not Applicable
- --------------------------------------------------------------------------------
13) Percent of Class Represented by Amount in Row (11) ............. 3.01%
- --------------------------------------------------------------------------------
14) Type of Reporting Person ........................................ 00
Page 4 of 13
<PAGE>
CUSIP NO. 267575-10-8
1) Name of Reporting Person; S.S. or I.R.S. Identification No. of Above
Person.
The MCJ Foundation
- --------------------------------------------------------------------------------
2) Check the Appropriate Box if a Member of a Group
(a) __
(b) X
- --------------------------------------------------------------------------------
3) SEC Use Only
- --------------------------------------------------------------------------------
4) Source of Funds
Not Applicable
- --------------------------------------------------------------------------------
5) Check Box If Disclosure of Legal Proceedings Is Required Pursuant to
Items 2(d) or 2(e) /___/
- --------------------------------------------------------------------------------
6) Citizenship or Place of Organization
United States
- --------------------------------------------------------------------------------
Number of Shares 7) Sole Voting Power ................... -0-
Beneficially Owned ______________________________________________
by Each Reporting 8) Shared Voting Power ............ 1,100,000
Person With ______________________________________________
9) Sole Dispositive Powers ............... -0-
______________________________________________
10) Shared Dispositive Power ........... 1,100,000
- --------------------------------------------------------------------------------
11) Aggregate Amount Beneficially Owned by
Each Reporting Person .................................. 1,100,000
- --------------------------------------------------------------------------------
12) Check Box if the Aggregate Amount in Row (11) Excludes
Certain Shares ......................................... Not Applicable
- --------------------------------------------------------------------------------
13) Percent of Class Represented by Amount in Row (11) ........... 8.38%
- --------------------------------------------------------------------------------
14) Type of Reporting Person ....................................... 00
Page 5 of 13
CUSIP NO. 267575-10-8
<PAGE>
1) Name of Reporting Person; S.S. or I.R.S. Identification No. of Above
Person.
The PICK Foundation, Inc.
- --------------------------------------------------------------------------------
2) Check the Appropriate Box if a Member of a Group
(a) __
(b) X
- --------------------------------------------------------------------------------
3) SEC Use Only
- --------------------------------------------------------------------------------
4) Source of Funds
Not Applicable
- --------------------------------------------------------------------------------
5) Check Box If Disclosure of Legal Proceedings Is Required Pursuant to
Items 2(d) or 2(e) /___/
- --------------------------------------------------------------------------------
6) Citizenship or Place of Organization
United States
- --------------------------------------------------------------------------------
Number of Shares 7) Sole Voting Power .................... -0-
Beneficially Owned ______________________________________________
by Each Reporting 8) Shared Voting Power .................. 100,700
Person With ______________________________________________
9) Sole Dispositive Powers .............. -0-
______________________________________________
10) Shared Dispositive Power ............. 100,700
- --------------------------------------------------------------------------------
11) Aggregate Amount Beneficially Owned by
Each Reporting Person ..................................... 100,700
- --------------------------------------------------------------------------------
12) Check Box if the Aggregate Amount in Row (11) Excludes
Certain Shares ................................... Not Applicable
- --------------------------------------------------------------------------------
13) Percent of Class Represented by Amount in Row (11) ............. .77%
- --------------------------------------------------------------------------------
14) Type of Reporting Person ....................................... 00
Page 6 of 13
<PAGE>
Item 1. Security and Issuer:
Common Stock, par value $.01 per share, of Dyersburg
Corporation 1315 East Phillips Street, P.O. Box 767,
Dyersburg, TN 38024
Item 2. Identity and Background
General. Item 2 is hereby supplemented to reflect The MCJ Foundation,
which acquired 1,100,000 shares of Dyersburg Corporation
Common Stock by transfer, without consideration, from Van
Beuren Management Trust. Messrs. Borowsky and Roy are the sole
trustees of Van Beuren Management Trust and also have the sole
power to vote and dispose of the shares of Dyersburg
Corporation Common Stock transferred to The MCJ Foundation.
Item 2 is further supplemented to reflect The PICK Foundation,
Inc. which acquired 100,700 shares of Dyersburg Corporation
Common Stock by transfer, without consideration, from Van
Beuren Management Trust. The PICK Foundation, Inc. is a family
foundation qualified as a charitable organization exempt from
federal taxation under Section 501(c)(3) of the Internal
Revenue Code. Mr. Borowsky shares the power to vote and
dispose of the shares of Dyersburg Corporation Common Stock
held by the PICK Foundation, Inc. with his spouse and
children.
Present Occupation and
Name, Principal Business
Address of Name of Filing
Organization in which Person
Business Address such
Employment is
(Items 2(a)) (Item 2(b)) Conducted (Item 2(c))
- ------------ ----------- ---------------------
1. Kurt T. Borowsky 330 South Street Chairman of Van Beuren
P.O. Box 1975 Management, Inc. (finan-
Morristown, NJ cial management) Vice
07962 Chairman, Harding Service
LLC (management
consulting) 330 South St.,
Morristown, NJ 07960
Page 7 of 13
<PAGE>
Present Occupation and
Name, Principal Business
Address of Name of Filing
Organization in which Person
Business Address such
Employment is
(Items 2(a)) (Item 2(b)) Conducted (Item 2(c))
- ------------ ----------- ---------------------
2. David J. Roy 330 South Street President; The Cambridge
P.O. Box 1975 Group (consulting) 1334
Morristown, NJ Park View Avenue,
07962 Manhattan Beach, CA
90266; Vice Chairman of
Van Beuren Management,
Inc.(financial manage-
met); 330 South St.,
Morristown, NJ 07960
3. Van Beuren 330 South Street Private irrevocable trust
Management Trust P.O. Box 1975
Morristown, NJ
07962
4. The MCJ Foundation 330 South Street Private charitable
P. O. Box 1975 Foundation
Morristown, NJ
07962
5. The PICK Foundation, 330 South Street Private charitable
Inc. P. O. Box 1975 Foundation
Morristown, NJ
07962
Page 8 of 13
<PAGE>
Item 2(d) & (e)
During the last five years, none of Mr. Borowsky, Mr. Roy, the
Van Beuren Management Trust, The MCJ Foundation, or The PICK
Foundation, Inc. has been (i) convicted in a criminal
proceeding (excluding traffic violations or similar
misdemeanors) or (ii) a party to a civil proceeding of a
judicial or administrative body of competent jurisdiction and
as a result of such proceeding was or is subject to a
judgment, decree or final order enjoining future violations
of, or prohibiting or mandating activities to Federal or State
securities laws or finding any violation with respect to any
such laws.
Item 2(f). Citizenship of Each Person Filing:
United States
Item 3. Source and Amount of Funds or Other Considerations
Not Applicable
Item 4. Purpose of Transaction
This amendment is necessitated solely by the fact that on
November 6, 1996, 1,100,000 shares of Dyersburg Corporation
Common Stock held by the Van Beuren Management Trust (the
"Trust") were transferred, without consideration, to The MCJ
Foundation (the "Foundation") and on November 8, 1996 100,700
shares of Dyersburg Corporation Common Stock held by the
Foundation, were transferred, without consideration, to The
PICK Foundation, Inc. Kurt T. Borowsky and David J. Roy are
the sole trustees of the Trust and have the sole power to vote
and dispose of the shares of Dyersburg Corporation Common
Stock held by the Foundation. Messrs. Borowsky and Roy,
therefore, retain beneficial ownership of the
shares of Dyersburg Common Stock owned by both the Trust and
the Foundation. Mr. Borowsky also has voting and dispositive
power over his directly held shares and shares such power with
his spouse and children with respect to the shares of
Dyersburg Corporation Common Stock held by The PICK
Foundation, Inc.
Page 9 of 13
<PAGE>
Item 5. Interest in Securities of the Issuer.
By virtue of their status as co-trustees of the Van Beuren
Management Trust (the Trust") and as holders of the power to
vote and dispose of the shares of Dyersburg Corporation Common
Stock held by The MCJ Foundation (the "Foundation"), Messrs.
Borowsky and Roy share voting and investment power (together
with the Trust and Foundation) and may be deemed to be the
beneficial owners of the 1,595,370 shares of Dyersburg
Corporation Common Stock (the "Common Stock") held by the
Trust and Foundation, representing 12.15% of the outstanding
shares of Common Stock. Mr. Borowsky also holds directly
177,263 (1.35%) shares of the Common Stock and has voting and
dispositive power over his directly held shares. Mr. Borowsky
also shares voting and dispositive power of the 100,700 shares
of Common Stock owned by The PICK Foundation, Inc. with his
spouse and children. Mr. Roy does not directly hold any shares
of the Common Stock.
Item 6. Contracts, Arrangements, Understanding, Relationships with
Respect to Securities of the Issuer.
Not Applicable.
Item 7. Material to be filed as Exhibits.
1. Joint Filing Agreement.
2. Power of Attorney appointing Kenneth M. Socha as attorney
in fact.
Page 10 of 13
<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.
November 12, 1996 /s/ Kurt T. Borowsky*
---------------------
Kurt T. Borowsky
/s/ David J. Roy*
---------------------
David J. Roy
VAN BEUREN MANAGEMENT TRUST
By /s/ Kurt T. Borowsky*
---------------------------
Kurt T. Borowsky, Trustee
THE MCJ FOUNDATION
By /s/ Kurt T. Borowsky*
---------------------------
Kurt T. Borowsky, Director
THE PICK FOUNDATION, INC.
By /s/ Kurt T. Borowsky*
---------------------------
Kurt T. Borowsky, Director
*By /s/ Kenneth M. Socha
- ----------------------------------
Kenneth M. Socha, Attorney-in-Fact
Page 11 of 13
EXHIBIT 99
JOINT FILING AGREEMENT
The undersigned hereby agree that the foregoing Schedule 13D may be
filed on behalf of each of them.
November 12, 1996 /s/ Kurt T. Borowsky*
---------------------
Kurt T. Borowsky
/s/ David J. Roy*
-----------------------
David J. Roy
VAN BEUREN MANAGEMENT TRUST
By /s/ Kurt T. Borowsky*
---------------------------
Kurt T. Borowsky, Trustee
THE MCJ FOUNDATION
By /s/ Kurt T. Borowsky*
---------------------------
Kurt T. Borowsky, Director
THE PICK FOUNDATION, INC.
By /s/ Kurt T. Borowsky*
-----------------------------
Kurt T. Borowsky, Director
* By /s/ Kenneth M. Socha
- -----------------------------------
Kenneth M. Socha, Attorney-in-Fact
Page 12 of 13
POWER OF ATTORNEY
Each of the undersigned hereby appoints Kenneth M. Socha as his true
and lawful agent (with full power of substitution) to act in his name, place or
stead to execute and file with the Securities and Exchange Commission a Schedule
13D under the Securities Exchange Act of 1934 (including any and all amendments
thereto) reporting his interest in shares of common stock of Dyersburg
Corporation together with the other information required thereby and a Joint
Filing Agreement in connection therewith.
THIS POWER OF ATTORNEY SHALL NOT BE AFFECTED BY
SUBSEQUENT DISABILITY OR INCOMPETENCE.
In witness whereof, the undersigned have hereunto set their hand and
seal this 12th day of November 1996.
/s/ Kurt T. Borowsky VAN BEUREN MANAGEMENT TRUST
- ------------------------
Kurt T. Borowsky
/s/ Kurt T. Borowsky
-----------------------------
Kurt T. Borowsky, Trustee
*
- ------------------------
David J. Roy
THE MCJ FOUNDATION
- --------------
*Previously filed /s/ Kurt T. Borowsky
------------------------------
Kurt T. Borowsky, Director
THE PICK FOUNDATION, INC.
/s/ Kurt T. Borowsky
------------------------------
Kurt T. Borowsky, Director
