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OMB APPROVAL
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OMB Number 3235-0287
Expires: December 31, 2001
Estimated average burden
hours per response ....... 0.5
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
(Print or Type Response)
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1. Name and Address of Reporting Person(*)
Whippoorwill Associates, Inc.
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(Last) (First) (Middle)
11 Martine Avenue
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(Street)
White Plains NY 10606
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Kasper A.S.L. Ltd and KASP
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3. IRS or Social Security Number of Reporting Person (Voluntary)
13-3595884
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4. Statement for Month/Year
11/99
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
[ ] Director [ ] 10% Owner
[ ] Officer (give title below) [ X ] Other (specify below)
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7. Individual or Joint/Group Filing
(Check Applicable Line)
[ X ] Form filed by One Reporting Person
[ ] Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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<TABLE>
<CAPTION>
6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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Common Stock 11/01/99 S 25,000 (D) 2.22
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Common Stock 11/26/99 S 1,200 (D) 2.5
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Common Stock 11/29/99 S 37,500 (D) 2.5 1,279,091 (I) As
investment
adviser
for
clients
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly
* If the form is filed by more than one reporting person, see Instruction
4(b)(v).
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
9. 10.
Number Owner-
of ship
2. Deriv- Form of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
or Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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</TABLE>
Explanation of Responses:
The Reporting Person is a registered investment adviser, and by virtue of
the aggregate percentage position of its clients, as determined in
accordance with Rule 13d-3 under the Securities and Exchange Act of 1934
(the "Exchange Act"), it is "deemed" to be a more than 10% beneficial owner
of the Issuer's Common Stock. However, the Reporting Person disclaims
beneficial ownership in these securities except to the extent of its
"pecuniary interest" (as such term is defined in Rule 16a-1 under the
Exchange Act) in its clients' securities, if any. The Reporting Person
disclaims beneficial ownership in these securities for Section 16 purposes
and for all other purposes.
/s/ David Strumwasser December 8, 1999
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(**)Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information
contained in this form are not required to respond unless the form displays
a currently valid OMB Number.