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OMB Number 3235-0145
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 6)*
Darling International, Inc.
- -------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $.01 per share
- -------------------------------------------------------------------------------
(Title of Class of Securities)
237266101
- -------------------------------------------------------------------------------
(CUSIP Number)
Edwin H. Morgens
10 East 50th Street, New York, NY 10022
(212) 705-0500
- -------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
September 11, 1996
- -------------------------------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously riled 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 [ ]. (A fee is
not required only if the reporting person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
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 to 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).
Page 1 of 27 Pages
Exhibit Index Appears on Page 26
<PAGE>
SCHEDULE 13D
CUSIP No. 237266101 Page 2 of 27 Pages
- ------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
SS. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Phoenix Partners
13-6272912
- ------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
- ------------------------------------------------------------------------------
3) SEC USE ONLY
- ------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
WC
- ------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
New York State
- ------------------------------------------------------------------------------
NUMBER 7) SOLE VOTING POWER
OF 86,980 - See Response to Item 5
SHARES ____________________________________________________________
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY -0-
EACH ____________________________________________________________
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON 86,980 - See Response to Item 5
WITH ____________________________________________________________
10) SHARED DISPOSITIVE POWER
-0-
- ------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
86,980
- ------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.7%
- ------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
PN
- ------------------------------------------------------------------------------
*SEE INSRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP No. 237266101 Page 3 of 27 Pages
- ------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
SS. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Betje Partners
13-3118883
- ------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
- ------------------------------------------------------------------------------
3) SEC USE ONLY
- ------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
WC
- ------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
New York State
- ------------------------------------------------------------------------------
NUMBER 7) SOLE VOTING POWER
OF 30,384 - See Response to Item 5
SHARES ____________________________________________________________
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY -0-
EACH ____________________________________________________________
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON 30,384 - See Response to Item 5
WITH ____________________________________________________________
10) SHARED DISPOSITIVE POWER
-0-
- ------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
30,384
- ------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.6%
- ------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
PN
- ------------------------------------------------------------------------------
*SEE INSRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP No. 237266101 Page 4 of 27 Pages
- ------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
SS. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Morgens Waterfall Vintiadis Investments N.V.
None
- ------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
- ------------------------------------------------------------------------------
3) SEC USE ONLY
- ------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
WC
- ------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
Netherlands Antilles
- ------------------------------------------------------------------------------
NUMBER 7) SOLE VOTING POWER
OF 60,783 - See Response to Item 5
SHARES ____________________________________________________________
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY -0-
EACH ____________________________________________________________
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON 60,783 - See Response to Item 5
WITH ____________________________________________________________
10) SHARED DISPOSITIVE POWER
-0-
- ------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
60,783
- ------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.2%
- ------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
CO
- ------------------------------------------------------------------------------
*SEE INSRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP No. 237266101 Page 5 of 27 Pages
- ------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
SS. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Mogens Waterfall Income Partners
13-2829306
- ------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
- ------------------------------------------------------------------------------
3) SEC USE ONLY
- ------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
WC
- ------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
New York State
- ------------------------------------------------------------------------------
NUMBER 7) SOLE VOTING POWER
OF 77,729 - See Response to Item 5
SHARES ____________________________________________________________
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY -0-
EACH ____________________________________________________________
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON 77,729 - See Response to Item 5
WITH ____________________________________________________________
10) SHARED DISPOSITIVE POWER
-0-
- ------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
77,729
- ------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.5%
- ------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
PN
- ------------------------------------------------------------------------------
*SEE INSRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP No. 237266101 Page 6 of 27 Pages
- ------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
SS. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Restart Partners, L.P.
13-3502415
- ------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
- ------------------------------------------------------------------------------
3) SEC USE ONLY
- ------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
WC
- ------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ------------------------------------------------------------------------------
NUMBER 7) SOLE VOTING POWER
OF 466,940 - See Response to Item 5
SHARES ____________________________________________________________
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY -0-
EACH ____________________________________________________________
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON 466,940 - See Response to Item 5
WITH ____________________________________________________________
10) SHARED DISPOSITIVE POWER
-0-
- ------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
466,940
- ------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.0%
- ------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
PN
- ------------------------------------------------------------------------------
*SEE INSRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP No. 237266101 Page 7 of 27 Pages
- ------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
SS. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Restart Partners II, L.P.
13-3553296
- ------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
- ------------------------------------------------------------------------------
3) SEC USE ONLY
- ------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
WC
- ------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ------------------------------------------------------------------------------
NUMBER 7) SOLE VOTING POWER
OF 685,339 - See Response to Item 5
SHARES ____________________________________________________________
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY -0-
EACH ____________________________________________________________
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON 685,339 - See Response to Item 5
WITH ____________________________________________________________
10) SHARED DISPOSITIVE POWER
-0-
- ------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
685,339
- ------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.3%
- ------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
PN
- ------------------------------------------------------------------------------
*SEE INSRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP No. 237266101 Page 8 of 27 Pages
- ------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
SS. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Restart Partners III, L.P.
13-3618702
- ------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
- ------------------------------------------------------------------------------
3) SEC USE ONLY
- ------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
WC
- ------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ------------------------------------------------------------------------------
NUMBER 7) SOLE VOTING POWER
OF 481,979 - See Response to Item 5
SHARES ____________________________________________________________
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY -0-
EACH ____________________________________________________________
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON 481,979 - See Response to Item 5
WITH ____________________________________________________________
10) SHARED DISPOSITIVE POWER
-0-
- ------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
481,979
- ------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.3%
- ------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
PN
- ------------------------------------------------------------------------------
*SEE INSRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP No. 237266101 Page 9 of 27 Pages
- ------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
SS. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Restart Partners IV, L.P.
13-3687058
- ------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
- ------------------------------------------------------------------------------
3) SEC USE ONLY
- ------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
WC
- ------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ------------------------------------------------------------------------------
NUMBER 7) SOLE VOTING POWER
OF 300,123 - See Response to Item 5
SHARES ____________________________________________________________
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY -0-
EACH ____________________________________________________________
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON 300,123 - See Response to Item 5
WITH ____________________________________________________________
10) SHARED DISPOSITIVE POWER
-0-
- ------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
300,123
- ------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.8%
- ------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
PN
- ------------------------------------------------------------------------------
*SEE INSRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP No. 237266101 Page 10 of 27 Pages
- ------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
SS. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Restart Partners V, L.P.
13-3812417
- ------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
- ------------------------------------------------------------------------------
3) SEC USE ONLY
- ------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
WC
- ------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ------------------------------------------------------------------------------
NUMBER 7) SOLE VOTING POWER
OF 50,000 - See Response to Item 5
SHARES ____________________________________________________________
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY -0-
EACH ____________________________________________________________
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON 50,000 - See Response to Item 5
WITH ____________________________________________________________
10) SHARED DISPOSITIVE POWER
-0-
- ------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
50,000
- ------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.0%
- ------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
PN
- ------------------------------------------------------------------------------
*SEE INSRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP No. 237266101 Page 11 of 27 Pages
- ------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
SS. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Common Fund for Non-Profit Organizations
13-7037968
- ------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
- ------------------------------------------------------------------------------
3) SEC USE ONLY
- ------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
WC
- ------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
New York State
- ------------------------------------------------------------------------------
NUMBER 7) SOLE VOTING POWER
OF 147,037 - See Response to Item 5
SHARES ____________________________________________________________
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY -0-
EACH ____________________________________________________________
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON 147,037 - See Response to Item 5
WITH ____________________________________________________________
10) SHARED DISPOSITIVE POWER
-0-
- ------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
147,037
- ------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.8%
- ------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
PN
- ------------------------------------------------------------------------------
*SEE INSRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP No. 237266101 Page 12 of 27 Pages
- ------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
SS. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
MWV Employee Retirement Plan Group Trust
13-3845507
- ------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
- ------------------------------------------------------------------------------
3) SEC USE ONLY
- ------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
WC
- ------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
New York State
- ------------------------------------------------------------------------------
NUMBER 7) SOLE VOTING POWER
OF 23,373 - See Response to Item 5
SHARES ____________________________________________________________
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY -0-
EACH ____________________________________________________________
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON 23,373 - See Response to Item 5
WITH ____________________________________________________________
10) SHARED DISPOSITIVE POWER
-0-
- ------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
23,373
- ------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.5%
- ------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
EP
- ------------------------------------------------------------------------------
*SEE INSRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP No. 237266101 Page 13 of 27 Pages
- ------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
SS. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Phaeton International N.V.
None
- ------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
- ------------------------------------------------------------------------------
3) SEC USE ONLY
- ------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
AF
- ------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
Netherlands Antilles
- ------------------------------------------------------------------------------
NUMBER 7) SOLE VOTING POWER
OF -0- See Response to Item 5
SHARES ____________________________________________________________
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY -0-
EACH ____________________________________________________________
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON -0- See Response to Item 5
WITH ____________________________________________________________
10) SHARED DISPOSITIVE POWER
-0-
- ------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
60,783
- ------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.2%
- ------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
CO
- ------------------------------------------------------------------------------
*SEE INSRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP No. 237266101 Page 14 of 27 Pages
- ------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
SS. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Morgens, Waterfall, Vintiadis & Company, Inc.
13-2674766
- ------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
- ------------------------------------------------------------------------------
3) SEC USE ONLY
- ------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
AF
- ------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
- ------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
New York State
- ------------------------------------------------------------------------------
NUMBER 7) SOLE VOTING POWER
OF -0- See Response to Item 5
SHARES ____________________________________________________________
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY -0-
EACH ____________________________________________________________
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON -0- See Response to Item 5
WITH ____________________________________________________________
10) SHARED DISPOSITIVE POWER
-0-
- ------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
238,204
- ------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.6%
- ------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
CO
- ------------------------------------------------------------------------------
*SEE INSRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP No. 237266101 Page 15 of 27 Pages
- ------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
SS. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Edwin H. Morgens
###-##-####
- ------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
- ------------------------------------------------------------------------------
3) SEC USE ONLY
- ------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
AF
- ------------------------------------------------------------------------------
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 7) SOLE VOTING POWER
OF -0- See Response to Item 5
SHARES ____________________________________________________________
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY -0-
EACH ____________________________________________________________
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON -0- See Response to Item 5
WITH ____________________________________________________________
10) SHARED DISPOSITIVE POWER
-0-
- ------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,410,667
- ------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
46.7%
- ------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
IN
- ------------------------------------------------------------------------------
*SEE INSRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP No. 237266101 Page 16 of 27 Pages
- ------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
SS. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Bruce Waterfall
###-##-####
- ------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
- ------------------------------------------------------------------------------
3) SEC USE ONLY
- ------------------------------------------------------------------------------
4) SOURCE OF FUNDS*
AF
- ------------------------------------------------------------------------------
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 7) SOLE VOTING POWER
OF 17,000 - See Response to Item 5
SHARES ____________________________________________________________
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY -0-
EACH ____________________________________________________________
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON 17,000 - See Response to Item 5
WITH ____________________________________________________________
10) SHARED DISPOSITIVE POWER
-0-
- ------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,404,294
- ------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
46.5%
- ------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
IN
- ------------------------------------------------------------------------------
*SEE INSRUCTIONS BEFORE FILLING OUT!
<PAGE>
Darling International, Inc. Page 17 of 27 Pages
Schedule 13D September 18, 1994
Item 1. Security and Issuer.
- ------- --------------------
This Amendment No. 5 ("Amendment") amends the statement on Schedule
13D filed by the Reporting Persons (as defined below), with the Commission on
September 8, 1994, as amended by Amendment No. 1 filed with the Commission on
November 10, 1994, by Amendment No. 2 filed with the Commission on December 7,
1994, by Amendment No. 3 filed with the Commission on March 20, 1995 and by
Amendment No. 4 filed with the Commission on April 10, 1995 (collectively, the
"Statements") with respect to shares of common stock, par value $.01 per share
("Common Stock") and options to purchase the Common Stock ("Options"), of
Darling International, Inc. (the "Issuer"). The principal executive offices of
the Issuer are located at 251 O'Connor Ridge Blvd., Suite 300, Irving, Texas
75038. This Amendment supplements and, to the extent inconsistent therewith,
amends the information set forth in the Statements.
Item 2. Identity and Background.
- ------- ------------------------
This Amendment is filed jointly by (a) Phoenix Partners ("Phoenix"),
(b) Betje Partners ("Betje"), (c) Phaeton International N.V. ("Phaeton"), (d)
Morgens Waterfall Vintiadis Investments N.V. ("MWV"), (e) Morgens Waterfall
Income Partners ("MWIP"), (f) Morgens, Waterfall, Vintiadis & Company, Inc.
("Morgens Waterfall"), (g) Restart Partners L.P. ("Restart"), (h) Restart
Partners II, L.P. ("Restart II"), (i) Restart Partners III, L.P. ("Restart
III"), (j) Restart Partners IV, L.P. ("Restart IV"), (k) Restart Partners V,
L.P. ("Restart V"), (l) MWV Employee Retirement Plan Group Trust ("MWV Plan"),
(m) The Common Fund for Non-Profit Organizations (the "Common Fund"), (n) Edwin
H. Morgens ("Morgens") and (o) Bruce Waterfall ("Waterfall" and together with
the persons listed in paragraphs (a) through (n), the "Reporting Persons").
MWV is a subsidiary of Phaeton. Phaeton is a controlling person of MWV
by virtue of its ownership of 100% of the outstanding shares of MWV. Phaeton and
MWV are Netherlands Antilles limited liability companies having their principal
offices at 6 John B. Gorsiraweg, Willemstad, Curacao, Netherlands Antilles. The
principal business of MWV is to invest in securities of United States issuers.
Phaeton is a holding company which invests in MWV and companies with similar
objectives.
The sole Managing Director of Phaeton and MWV is Offshore Management
Company N.V. ("Offshore"), a Netherlands Antilles
<PAGE>
Darling International, Inc. Page 18 of 27 Pages
Schedule 13D September 18, 1994
limited liability company having its principal office at 6 John B. Gorsiraweg,
Willemstad, Curacao, Netherlands Antilles. The principal business of Offshore is
to act as Managing Director of corporations domiciled in the Netherlands
Antilles, and in that capacity to provide local management, administrative,
clerical and accounting services similar to those which it provides to Phaeton
and MWV. Phaeton and MWV do not have any officers other than Offshore.
Phaeton and MWV have the following Board of Directors:
Name Address
---- -------
Halvor Astrup Fearnley Group A/S
35-38 Portman Square
London W1HOEU, England
Dr. M. Colyer Crum Harvard Business School
Cambridge, Massachusetts
Bassam Aburdene Capital Trust Ltd.
49 Mount Street
London WIY5RE, England
Fred Arthur Rank Packard Center 45
45 London Wall
London EC2, England
Mr. Astrup, a citizen of Norway, is Vice Chairman of Fearnley Group
and Chairman of Fearnley Finance Ltd., companies principally engaged in project
development in the international shipping industry.
Dr. Crum, a U.S. citizen, is a professor at the Harvard Business
School, where he holds the James R. Williston Chair of Investment Management.
Mr. Aburdene, a U.S. citizen, is a Managing Partner of Capital Trust
Limited, a London-based financial services company which is jointly owned by
United States and Middle Eastern institutions and investors.
Mr. Packard, a British citizen, is a partner of Banco de
Investimentos Garantia, a leading Brazilian investment bank.
Phoenix, MWIP and Betje are New York limited partnerships having
their principal address at 10 East 50th Street, New York,
<PAGE>
Darling International, Inc. Page 19 of 27 Pages
Schedule 13D September 18, 1994
New York 10022. The principal business of Phoenix, MWIP and Betje is to
invest in securities of United States issuers. Morgens and Waterfall are (i) the
general partners of MWIP and (ii) the managing members of MW Management LLC,
which is the general partner of Phoenix. All of the information concerning
Morgens and Waterfall is set forth below. Mr. Zanvyl Krieger is the general
partner of Betje. The business address of Mr. Krieger is c/o Weinberg and Green,
100 South Charles Street, Baltimore, Maryland 21201. Mr. Krieger's principal
occupation is a private investor.
Restart, Restart II, Restart III, Restart IV and Restart V are
Delaware limited partnerships having their principal address at 10 East 50th
Street, New York, New York 10022. The principal business of Restart, Restart II,
Restart III, Restart IV and Restart V is to invest in securities of financially
troubled companies.
The general partner of Restart is Prime Group, L.P. ("Prime
Group"), a Delaware limited partnership, having its principal address at 10 East
50th Street, New York, New York 10022. The principal business of Prime Group is
to act as the general partner of Restart. The general partner of Prime Group is
Prime, Inc., a Delaware corporation ("Prime"), having its principal office at 10
East 50th Street, New York, New York 10022. The principal business of Prime is
to act as general partner of Prime Group, Prime II, Prime III, Prime IV and
Prime V (as discussed below). Morgens is the Chairman of the Board of Directors
and the Secretary of Prime. Waterfall is the President of Prime and is also a
Director. All of the information concerning Morgens and Waterfall is set forth
below.
The general partner of Restart II is Prime Group II, L.P. ("Prime
II"), a Delaware limited partnership, having its principal address at 10 East
50th Street, New York, New York 10022. The principal business of Prime II is to
act as the general partner of Restart II. The general partner of Prime II is
Prime. All of the information concerning Prime is set forth above.
The general partner of Restart III is Prime Group III, L.P.
("Prime III"), a Delaware limited partnership, having its principal address at
10 East 50th Street, New York, New York 10022. The principal business of Prime
III is to act as the general partner of Restart III. The general partner of
Prime III is Prime. All of the information concerning Prime is set forth above.
The general partner of Restart IV is Prime Group IV, L.P.
("Prime IV"), a Delaware limited partnership, having its principal
<PAGE>
Darling International, Inc. Page 20 of 27 Pages
Schedule 13D September 18, 1994
address at 10 East 50th Street, New York, New York 10022. The principal business
of Prime IV is to act as the general partner of Restart IV. The general partner
of Prime IV is Prime. All of the information concerning Prime is set forth
above.
The general partner of Restart V is Prime Group V, L.P. ("Prime
V"), a Delaware limited partnership, having its principal address at 10 East
50th Street, New York, New York 10022. The principal business of Prime V is to
act as the general partner of Restart V. The general partner of Prime V is
Prime. All of the information concerning Prime is set forth above.
MWV Plan is a trust established in 1994 for the benefit of the
employees of Morgens Waterfall. The trustees of MWV Plan are David Ericson, Dan
Levinson, Morgens, John Raphael and Stephan Yost, all of whom are employees of
Morgens Waterfall. MWV Plan's principal address is 10 East 50th Street, New
York, New York 10022.
Morgens Waterfall is a New York corporation having its principal
address at 10 East 50th Street, New York, New York 10022. The business of
Morgens Waterfall is rendering of financial services and as such it provides
discretionary investment advisory services pursuant to contracts with MWV and
Betje. In addition, Morgens Waterfall provides discretionary investment advisory
services to the Common Fund and in that capacity has been granted investment
authority over the Common Fund to vote securities registered in the name of the
Common Fund. Under the rules promulgated by the Securities and Exchange
Commission, Morgens Waterfall and its principals may be considered "beneficial
owners" of securities acquired by MWV, Betje and the Common Fund as a result of
its advisory relationship to MWV, Betje and the Common Fund.
Morgens is the Chairman of the Board of Directors and the
Secretary of Morgens Waterfall. Waterfall is the President and Assistant
Secretary of Morgens Waterfall and is also a Director. Morgens Waterfall has no
other officers and directors. The primary occupations of Morgens and Waterfall
are to act as the principals in the business of Morgens Waterfall. The business
address of Morgens and Waterfall, each of whom is a United States citizen, is at
the office of Morgens Waterfall at 10 East 50th Street, New York, New York
10022. Waterfall is also a Director of the Issuer.
During the past five years, none of the persons described in this
Item 2 have been convicted in a criminal proceeding. None of such persons is,
and during the past five years none has been, subject to a judgment, decree or
final order enjoining future
<PAGE>
Darling International, Inc. Page 21 of 27 Pages
Schedule 13D September 18, 1994
violations of, or prohibiting or mandating activities subject to, federal or
state securities laws, or finding any violations with respect to such laws.
Item 3. Source and Amount of Funds or Other Consideration.
- ------- --------------------------------------------------
The Common Stock held by the Restart V as reported in this
Amendment was purchased in a privately negotiated purchase. The source of the
payments by Restart V was working capital, and no part of the purchase price was
represented by funds or other consideration specially borrowed or otherwise
specifically obtained for the purpose of acquiring, holding, trading or voting
the securities.
Item 4. Purpose of Transaction.
- ------- -----------------------
The Common Stock was acquired by Restart V in a privately
negotiated purchase in the ordinary course of business, solely as an investment.
Although the Reporting Persons may be deemed to have control of the Issuer by
virtue of their ownership of over 47% of the outstanding shares of Common Stock,
assuming exercise of the Options, at present they (i) have no plans or proposals
that relate to or would result in any of the actions enumerated in Item 4 of
Schedule 13D and (ii) are relying on the Issuer's board of directors and
management to develop a strategy to enhance the value of shareholder investment
in the Issuer. The Reporting Persons reserve the right to buy additional
securities of the Issuer or sell securities of the Issuer from time to time.
Item 5. Interest in Securities of the Issuer.
- ------- -------------------------------------
(a) and (b) The following is the amount of Common Stock, and
Options that are beneficially owned by each Reporting Person:
<PAGE>
Darling International, Inc. Page 22 of 27 Pages
Schedule 13D September 18, 1994
Percentage
Name # of Shares # of Options Total of Class
- ---- ----------- ------------ ----- ---------
MWV 59,243 1,540 60,783 1.2
Betje 29,610 774 30,384 .6
MWIP 75,391 2,338 77,729 1.5
Phoenix 84,814 2,166 86,980 1.7
Restart 452,891 14,049 466,940 9.0
Restart II 664,719 20,620 685,339 13.3
Restart III 467,479 14,500 481,979 9.3
Restart IV 291,094 9,029 300,123 5.8
Restart V 50,000 0 50,000 1.0
Common Fund 142,613 4,424 147,037 2.8
MWV Plan 22,813 560 23,373 .5
Waterfall 0 17,000 17,000 .3
--------- --------- --------- ----
Total 2,340,667 87,000 2,427,667 47.1
Phaeton does not directly own any of the Common Stock or Options.
Phaeton may be deemed to indirectly beneficially own 60,783 shares of Common
Stock, assuming exercise of the Options, by virtue of its 100% ownership of MWV.
Morgens Waterfall does not directly own any of the Common Stock or
Options. Morgens Waterfall may be deemed to indirectly beneficially own 238,204
shares of Common Stock, assuming exercise of the Options, by virtue of contracts
with MWV (60,783 shares), Common Fund (147,037 shares) and Betje (30,384 shares)
pursuant to which Morgens Waterfall provides discretionary investment advisory
services.
Waterfall directly owns Options for 17,000 shares granted pursuant to
the Issuer's Non-Employee Director's Stock Option Plan. Waterfall may be deemed
to indirectly beneficially own 2,387,294 shares of Common Stock, assuming
exercise of the Options, by virtue of his positions as general partner of
Phoenix (86,980 shares) and MWIP (77,729 shares); as President, Assistant
Secretary and a Director of Morgens Waterfall (238,204 shares); as President and
a Director of Prime, as general partner of each of Prime Group, Prime II, Prime
III, Prime IV and Prime V, as general partners of Restart (466,940 shares),
Restart II (685,339 shares), Restart III (481,979 shares), Restart IV (300,123
shares) and Restart V (50,000 shares) respectively.
Morgens does not directly own any of the Common Stock or Options.
Morgens may be deemed to indirectly beneficially own 2,410,667 shares of Common
Stock, assuming exercise of the Options,
<PAGE>
Darling International, Inc. Page 23 of 27 Pages
Schedule 13D September 18, 1994
by virtue of his positions as general partner of Phoenix (86,980 shares) and
MWIP (77,729 shares); as Chairman of the Board of Directors and Secretary of
Morgens Waterfall (238,204 shares); as Chairman of the Board of Directors and
Secretary of Prime, as general partner of each of Prime Group, Prime II, Prime
III, Prime IV and Prime V, as general partners of Restart (466,940 shares),
Restart II (685,339 shares), Restart III (481,979 shares), Restart IV (300,123
shares) and Restart V (50,000 shares), respectively; and as trustee of MWV Plan
(23,373 shares).
Each Reporting Person hereby disclaims that it has any beneficial
interest in the securities owned, directly or indirectly, by any other entity.
(c) The following is a list of all transactions involving the Common
Stock and Options during the past 60 days by any of the Reporting Persons:
Common Stock
Name Date sold/purchased Price/Share
---- ---- -------------- -----------
Restart V 9/11/96 50,000 purchased $27.00
(d) Except as set forth above, no other person is known to have the
right to receive or the power to direct the receipt of dividends from, or the
proceeds from the sale of, the Common Stock or Options.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships
- ------- with Respect to the Securities of the Issuer.
--------------------------------------------------------
Except to the extent described in Items 2 and 5, none of the persons
identified in Item 2 is a party to any contract, arrangement, understanding or
relationship with respect to any securities of the Issuer.
Item 7. Material to be Filed as Exhibits.
- ------- ---------------------------------
EXHIBIT A Power of Attorney, dated December 15, 1993 granted to
Messrs. Morgens and Waterfall by the following parties:
Mr. Bruce Waterfall; Phoenix Partners; Morgens
Waterfall Income Partners; Betje Partners; Phaeton
International N.V.; Morgens, Waterfall, Vintiadis
Investments N.V.; The Common Fund for Non-Profit
<PAGE>
Darling International, Inc. Page 24 of 27 Pages
Schedule 13D September 18, 1994
Organizations; Morgens Waterfall Vintiadis & Company, Inc.;
Restart Partners, L.P.; Restart Partners II, L.P.; Restart
Partners III, L.P.; Restart Partners IV, L.P.; Morgens
Waterfall, Vintiadis & Co., Inc. Employees' Profit Sharing
Plan; and Mr. Edwin Morgens, for the specific purpose of
executing on their behalf any Schedule 13Ds and amendments
thereto for filing with the Securities and Exchange Commission
pursuant to the requirements of Rule 13d-1(f) (incorporated by
reference to Exhibit A of Amendment No. 2 to Schedule 13D filed
on December 22, 1993 by Phoenix Partners; Betje Partners;
Phaeton International N.V.; Morgens, Waterfall, Vintiadis
Investments N.V.; Morgens Waterfall Vintiadis & Company, Inc.;
Edwin H. Morgens; and Bruce Waterfall with respect to the
common stock, par value $.01 per share, of Sudbury, Inc.).
EXHIBIT B Power of Attorney, dated September 18, 1996 granted to Messrs.
Morgens and Waterfall by Restart V, L.P.
<PAGE>
Darling International, Inc. Page 25 of 27 Pages
Schedule 13D September 18, 1994
SIGNATURES
After reasonable inquiry and to the best knowledge and belief of each
person or entity set forth below, each such person or entity certifies that the
information set forth in this statement is true, complete and correct and agrees
that this statement is filed on behalf of each of them.
Dated: September 18, 1996 The Reporting Persons listed herein
By: /s/ Bruce Waterfall
--------------------------------
Bruce Waterfall, as attorney-in-fact
for each of the Reporting Persons
<PAGE>
Darling International, Inc. Page 26 of 27 Pages
Schedule 13D September 18, 1994
EXHIBIT INDEX
Page No.
--------
Exhibit A Power of Attorney Incorporated by
Reference
Exhibit B Power of Attorney 27
<PAGE>
Darling International, Inc. Page 27 of 27 Pages
Schedule 13D September 18, 1994
POWER OF ATTORNEY
The undersigned hereby agrees to appoint Edwin H. Morgens and Bruce
Waterfall each with full power of substitution, as its attorney-in-fact for the
specific purpose of executing on its behalf any Schedule 13Ds and amendments
thereto for filing with the Securities and Exchange Commission pursuant to the
requirements of Rule 13d-1(f).
IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney
to be duly executed as of September 18, 1996.
RESTART PARTNERS V, L.P.
BY: PRIME GROUP V, L.P.,
as general partner
BY: PRIME, INC.,
as general partner
By: /s/ Bruce Waterfall
-------------------------------------
Bruce Waterfall, as agent
<PAGE>
