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| FORM 3 | U.S. SECURITIES AND EXCHANGE COMMISSION
+--------+ WASHINGTON, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
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
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1. Name and Address of Reporting Person*
Partnership Acquisition Trust V ("PATV")
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(Last) (First) (Middle)
2 World Financial Center, Building B, 21st Floor
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(Street)
New York New York 10281
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(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
July 20, 1999
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3. IRS Identification Number of Reporting Person if an Entity
(Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
Malibu Entertainment Worldwide, Inc. "MBE"
5. Relationship of Reporting Person to Issuer (Check all applicable)
[ ] Director [ ] Officer [X] 10% Owner [ ] Other
(give title below) (specify below)
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6. If Amendment, Date of Original (Month/Day/Year) N/A
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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 BENEFICIALLY OWNED
<TABLE>
<CAPTION>
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1. Title 2. Amount of 3. Ownership Form: 4. Nature of
of Securities Bene- Direct (D) or Indirect Bene-
Security ficially Owned Indirect (I) ficial Ownership
(Instr. 4) (Instr. 4) (Instr. 5) (Instr. 5)
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<S> <C> <C> <C>
Common Stock 6,000,000 D N/A
(See Note 1 Below)
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Series BB
Preferred Stock 327.12 D N/A
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</TABLE>
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FORM 3 (continued)
Table II--Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
<TABLE>
<CAPTION>
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1. Title of Derivative 2. Date Exer- 3. Title and Amount of Securities 4. Conversion 5. Ownership 6. Nature of In-
Security cisable and Underlying Derivative Security or Form of direct Bene-
(Instr. 4) Expiration (Instr. 4) Exercise Derivative ficial
Date Price Security: Ownership
(Month/Day/ of (Instr. 5)
Year) Derivative Direct (D)
---------------------------------------------------- Security or In-
Date Expira- Amount or direct (I)
Exer- tion Title Number of (Instr. 5)
cisable Date Shares
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<S> <C> <C> <C> <C> <C> <C> <C>
N/A N/A N/A N/A N/A N/A N/A N/A
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</TABLE>
Explanation of Responses:
Note 1: The Issuer, Malibu Centers, Inc., a Delaware corporation, MEI Holdings,
L.P., a Delaware limited partnership ("MEIH"), Nomura Asset Capital
Corporation, a Delaware corporation ("NACC"), Partnership Acquisition
Trust V, a Delaware business trust ("PATV") and SZ Capital, L.P., a
Delaware limited partnership entered into that certain Second Amended
and Restated Capitalization Agreement dated as of July 20, 1999 (the
"Recapitalization Agreement"), pursuant to which PATV acquired the
securities described in Table I. Pursuant to the terms of the
Recapitalization Agreement, the outstanding shares of Series BB
Preferred Stock may be called for redemption by the Issuer at any time.
If all of the shares of Series BB Preferred Stock have not been redeemed
by the Issuer or purchased by MEIH on or before December 31, 2000, (i)
the Issuer (or in certain circumstances, MEIH) will issue to PATV, as a
fee in consideration of NACC's entering into the Recapitalization
Agreement an additional 2,000,000 shares of Common Stock; and (ii) as
additional consideration for NACC's accepting the shares of Series BB
Preferred Stock as payment in full of the $20,000,000 loan from NACC to
MEIH, MEIH (or its designee) will transfer to PATV an additional
4,000,000 shares of Common Stock.
**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.
Partnership Acquisition Trust V
By: Wilmington Trust Company, its Trustee
By: /s/ LANCE W. HABERIN
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Name: Lance W. Haberin
Title: Attorney In Fact
July 30, 1999
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Date
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