UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. _________)1
DECS Trust II
(Name of Issuer)
DECS representing shares of beneficial interest of DECS Trust
(Title of Class of Securities)
233188200
(CUSIP Number)
December 30, 1998
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
Rule 13d-1 (b)
Rule 13d-1 (c) (X)
Rule 13d-1 (d)
______________________
1 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 the
disclosures provided in a prior cover page.
The information required in 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 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 4 pages
CUSIP No. 233188200 13G Page ______ of ______ Pages 1
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
(1) Highbridge Capital Corporation - not applicable
(2) Highbridge Capital Management, LLC - 13-3993048
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)
(b)
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
(1) Highbridge Capital Corporation - Cayman Islands, British West Indies
(2) Highbridge Capital Management, LLC - State of Delaware
NUMBER OF
SHARES 5 SOLE VOTING POWER 0
BENEFICIALLY
OWNED BY 6 SHARED VOTING POWER 315,230
EACH
REPORTING 7 SOLE DISPOSITIVE POWER 0
PERSON
WITH 8 SHARED DISPOSITIVE POWER 315,230
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
315,230
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 10.01%
12 TYPE OF REPORTING PERSON*
(1) Highbridge Capital Corporation - BD
(2) Highbridge Capital Management, LLC - CO
*SEE INSTRUCTION BEFORE FILLING OUT!
Page 2 of 4 pages
Item 1.
(a) Name of Issuer DECS Trust II
(b) Address of Issuer's Principal Executive Offices:
c/o Puglisi & Associates
850 Library Avenue
Suite 204
Newark, Delaware 19715
Item 2.
(a) Name of Person Filing
(1) Highbridge Capital Corporation
(2) Highbridge Capital Management, LLC
(b) Address of Principal Business Office or, if none, Residence
(1) Highbridge Capital Corporation
The Anchorage Centre, 2nd Floor
Harbour Drive, George Town,
Grand Cayman, Cayman Islands, British West Indies
(2) Highbridge Capital Management, LLC
767 Fifth Avenue, 23rd Floor
New York, New York 10153
(c) Citizenship
(1) Highbridge Capital Corporation - Cayman Islands, British West Indies
(2) Highbridge Capital Management, LLC - State of Delaware
(d) Title of Class of Securities
DECS representing shares of beneficial interest of DECS Trust
(e) CUSIP Number 233188200
Item 3. If this statement is filed pursuant to Rule 13d-1(b),
or 13d-2(b), check whether the person filing is a:
(a) (X) Broker or Dealer registered under Section 15 of the Act
(Highbridge Capital Corporation)
(b) Bank as defined in section 3(a)(6) of the Act
(c) Insurance Company as defined in section 3(a)(19) of the act
(d) Investment Company registered under section 8 of the Investment Company
Act
(e) Investment Adviser registered under section 203 of the Investment
Advisers Act of 1940
Highbridge Capital Management, LLC is the trading manager of Highbridge
Capital Corporation. Highbridge Capital Management, LLC is exempt from
registration as an investment adviser. The persons at Highbridge Capital
Management, LLC who actually exercise the power to dispose of and the
power to vote the investments of Highbridge Capital Corporation are
registered as registered representatives of Highbridge Capital
Corporation, a registered broker/dealer.
(f) Employee Benefit Plan, Pension Fund which is subject to the provisions
of the Employee Retirement Income Security Act of 1974 or Endowment
Fund; see 240.13d-1(b)(1)(ii)(F)
(g) Parent Holding Company, in accordance with 240.13(d)(ii)(G)
(Note: See Item 7)
(h) Group, in accordance with 240.13d(b)(1)(ii)(H)
Page 3 of 4 pages
Item 4. Ownership
(a) Amount Beneficially Owned 315,230
(b) Percent of Class 10.01%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote 0
(ii) shared power to vote or to direct the vote 315,230
(iii) sole power to dispose or to direct the disposition of 0
(iv) shared power to dispose or to direct the disposition of 315,230
Item 5. Ownership of Five Percent or Less of a Class
Inapplicable
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Inapplicable
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on By the Parent Holding
Company
Inapplicable
Item 8. Identification and Classification of Members of the Group
Inapplicable
Item 9. Notice of Dissolution of Group
Inapplicable
Item 10. Certification
By signing below I certify that, to the best of my knowledge and belief, the
securities referred to above were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose of effect.
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.
January 8, 1998
____________
Date
Howard Feitelberg
_________________
Signature
Howard Feitelberg / Controller, Highbridge Capital Corporation
______________________________________________________________
Name/Title
Page 4 of 4 pages
