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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. _____)*
ACC Consumer Finance Corporation
-------------------------------------------------------------
(Name of Issuer)
Common Stock
---------------------------------------------------
(Title of Class of Securities)
00079H108
-----------------------------------------
(CUSIP Number)
Check the following box if a fee is being paid with this statement [X]. (A fee
is not required only if the filing 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).
*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 ("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).
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- ----------------------- ---------------------
CUSIP NO. 00079H108 13G PAGE 2 OF 15 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Strome Susskind Investment Management, L.P. #95-4450882
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
3,251,188
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
3,251,188
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
3,251,188
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
11
40.7%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12
IA, PN
- ------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
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CUSIP NO. 00079H108 13G PAGE 3 OF 15 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
SSCO, Inc. #95-4450883
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
3,251,188
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
3,251,188
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
3,251,188
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
11
40.7%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12
CO, HC
- ------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
- ----------------------- ---------------------
CUSIP NO. 00079H108 13G PAGE 4 OF 15 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Mark E. Strome ####-##-####
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
U.S.
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
3,251,188
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
3,251,188
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
3,251,188
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
11
40.7%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12
IN, HC
- ------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
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CUSIP NO. 00079H108 13G PAGE 5 OF 15 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Strome Offshore Limited
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Cayman Islands
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
1,637,255
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
1,637,255
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
1,637,255
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
11
20.5%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12
CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
- ----------------------- ---------------------
CUSIP NO. 00079H108 13G PAGE 6 OF 15 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Strome Partners, L.P. #95-4372590
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
1,613,933
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
1,613,933
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
1,613,933
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
11
20.2%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12
PN
- ------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
Page 7 of 15
Item 1(a) Name of Issuer:
ACC Consumer Finance Corporation
Item 1(b) Address of Issuer's Principal Executive Offices:
12750 High Bluff Drive
Suite 320
San Diego, CA 92130
Item 2(a) Name of Person Filing: This statement is being filed by:
a. Strome-Susskind Investment Management, L.P. ("SSIM")
b. SSCO, Inc. ("SSCO")
c. Mark E. Strome ("Strome")
d. Strome Offshore Limited ("SOFF"); and
e. Strome Partners, L.P. ("SP")
collectively the "Reporting Persons".
SSIM is a Delaware limited partnership and a registered investment
adviser. SSIM is the sole general partner of and discretionary
investment adviser to SP which directly owns shares of common stock of
ACC Consumer Finance Corporation (the "Stock"). SSIM is also the
discretionary investment adviser to SOFF which directly owns shares of
the Stock.
SSCO is the sole general partner of SSIM. The Strome Family Trust,
dated 12/9/93 (the "Trust") is the controlling shareholder of SSCO.
Mark E. Strome is a settlor and trustee of the Trust.
SSIM's beneficial ownership of the Stock is direct because of its
general partnership interest in SP that directly owns shares of the
Stock. SSIM also has direct beneficial ownership of the Stock as a
result of its discretionary authority to buy, sell and vote shares of
such Stock for SP and SOFF. SSCO's and Strome's beneficial ownership
is indirect as a result of their ownership of SSIM, and is reported
solely because Rule 13-d (a) and (b) under the Securities Exchange Act
of 1934, as amended, requires any person who is "directly or
indirectly" the beneficial owner of more than five percent of any
equity security of
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Page 8 of 15
a specific class to file a Schedule 13G within the specific time
period. The answers on blocks 6, 8, 9 and 11 on pages 3 and 4 above
and in responses to item 4 by SSCO and Strome are given on the basis
of the "indirect" beneficial ownership referred to in such Rule, based
on the direct beneficial ownership of the Stock by SSIM and the
relationship of SSCO and Strome to SSIM.
Information with respect to each Reporting Person is given solely by
the respective Reporting Person, and no Reporting Person undertakes
hereby any responsibility for the accuracy or completeness of such
information concerning any other Reporting Person.
Item 2(b) Address of Principal Business office or, if none, residence:
a. 100 Wilshire Blvd., 15th Fl. Santa Monica, CA 90401
b. 100 Wilshire Blvd., 15th Fl. Santa Monica, CA 90401
c. 100 Wilshire Blvd., 15th Fl. Santa Monica, CA 90401
d. Corporate Centre, West Bay Road, P. O. Box 31106, SMB Grand
Cayman, Cayman Islands.
e. 100 Wilshire Blvd., 15th Fl. Santa Monica, CA 90401
Item 2(c) Citizenship:
a. Strome-Susskind Investment Management, L.P.; Delaware limited
partnership
b. SSCO, Inc., Delaware corporation
c. Mark E. Strome; United States
d. Strome Offshore Limited, Cayman Islands Corporation
e. Strome Partners, L.P.; Delaware limited partnership
Item 2(d) Title of Class of Securities:
Common Stock
<PAGE>
Page 9 of 15
Item 2(e) CUSIP
00079H108
Item 3. Statement Concerning Filings Pursuant to Rule 13d-1(b) or
13d-2(b):
(e) x Investment Adviser
-
(g) x Parent Holding Company [controlling shareholders]
-
[See Item 7]
Item 4. Ownership:
(a) Amount Beneficially Owned: Reporting Persons each directly
or indirectly beneficially own the following shares of Stock:
SSIM 3,251,188
SSCO 3,251,188
STROME 3,251,188
SOFF 1,613,933
SP 1,637,255
SOFF's SP's and SSIM's beneficial ownership are direct, and SSCO
and Strome's beneficial ownership are indirect.
(b) Percent of Class:
SSIM 40.7%
SSCO 40.7%
STROME 40.7%
SOFF 20.5%
SP 20.2%
(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:
The Reporting Parties share with each other the power to vote the
above-referenced shares of Stock for which they have direct or
indirect beneficial ownership. No other person has the power to
vote such shares.
<PAGE>
Page 10 of 15
(iii) sole power to dispose or to direct the disposition of: 0
(iv) shared power to dispose or to direct the disposition of:
The Reporting Parties share with each other the power to dispose
of the above-referenced shares of Stock for which they have
direct or indirect beneficial ownership. They do not share this
power with any other person.
Item 5. Ownership of Five Percent or Less of a Class:
Not Applicable
Item 6. Ownership of More than Five Percent on Behalf of Another Person:
SSIM, a registered investment adviser, SSCO, its general partner
and Strome, a trustee of SSCO's controlling shareholder, have the
right or the power to direct the receipt of dividends from the
Stock, and to direct the receipt of proceeds from the sale of
Stock to SSIM's investment advisory clients, SP and SOFF. SP and
SOFF each directly own more than 5% of the Stock.
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on by the Parent Holding
Company.
SSCO and Strome are each considered the equivalent of a parent
holding company for purposes of this Schedule 13G. SSIM, a
registered investment adviser, is considered SSCO and Strome's
subsidiary. See Exhibit B.
Item 8. Identification and Classification of Members of the Group:
Not Applicable
Item 9. Notice of Dissolution of Group:
Not Applicable
<PAGE>
Page 11 of 15
Item 10. Certification:
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were acquired in the ordinary
course of business and were not acquired for the purpose of and do not
have the effect of changing or influencing the control of the issuer
of such securities and were not acquired in connection with or as a
participant in any transaction having such purpose or effect.
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.
Dated: June 10, 1996
/s/ Mark E. Strome
-----------------------------------------------
Mark E. Strome
STROME SUSSKIND INVESTMENT MANAGEMENT, L.P.
By SSCO, Inc., its General Partner
By: /s/ Jeffrey S. Lambert
-------------------------------------------
Jeffrey S. Lambert, Chief Financial Officer
SSCO, INC.
By: /s/ Jeffrey S. Lambert
-------------------------------------------
Jeffrey S. Lambert, Chief Financial Officer
STROME PARTNERS, L.P. STROME OFFSHORE LIMITED
/s/ Jeffrey S. Lambert /s/ Jeffrey S. Lambert
- --------------------------------------- ---------------------------------
Jeffrey S. Lambert Jeffrey S. Lambert
Chief Financial Officer for Chief Financial Officer for
Strome Susskind Investment Strome Susskind Investment
Management, L.P. Management, L.P.
General Partner of Strome Partners, L.P. Investment Adviser to Strome
Offshore
<PAGE>
Page 12 of 15
EXHIBITS
EXHIBIT A Statement With Respect to Joint Filing of Schedule 13G
EXHIBIT B Identification and Classification of Subsidiary Which Acquired
Security Being Reported On By the Parent Holding Company
<PAGE>
Page 13 of 15
Exhibit A
JOINT FILING AGREEMENT PURSUANT TO RULE 13d-1(f)(1)
---------------------------------------------------
This agreement is made pursuant to Rule 13d-1(f)(1) under the Securities Act of
1934 (the "Act") by and among the parties listed below, each referred to herein
as a "Joint Filer." The Joint Filers agree that a statement of beneficial
ownership as required by Section 13(d) of the Act and the Rules thereunder may
be filed on each of their behalf on Schedule 13D or Schedule 13G, as
appropriate, and that said joint filing may thereafter be amended by further
joint filings. The Joint Filers states that they each satisfy the requirements
for making a joint filing under Rule 13d-1.
Dated: June 10, 1996
/s/ Mark E. Strome
- -------------------------------------
Mark E. Strome
STROME SUSSKIND INVESTMENT MANAGEMENT, L.P.
By SSCO, Inc., its General Partner
By: /s/ Jeffrey S. Lambert
-------------------------------------------
Jeffrey S. Lambert, Chief Financial Officer
SSCO, INC.
By: /s/ Jeffrey S. Lambert
-------------------------------------------
Jeffrey S. Lambert, Chief Financial Officer
STROME PARTNERS, L.P. STROME OFFSHORE LIMITED
/s/ Jeffrey S. Lambert /s/ Jeffrey S. Lambert
- ----------------------------------- -----------------------------------
Jeffrey S. Lambert Jeffrey S. Lambert
Chief Financial Officer for Chief Financial Officer for
Strome Susskind Investment Strome Susskind Investment
Management, L.P. Management, L.P.
General Partner of Strome Partners, L.P. Investment Adviser to Strome
Offshore
<PAGE>
Page 14 of 15
Exhibit B
Identification and Classification of Subsidiary Which
Acquired Security Being Reported On By the Parent Holding Company
SSIM, a registered investment adviser, acquired "beneficial ownership" of the
securities being reported on as a result of its discretionary authority to
acquire, dispose and (with respect to certain of such securities) vote the
securities being reported on. Under a series of SEC no-action letters,
including the letter issued to Warren Buffet and Berkshire Hathaway, Inc.
------------------------------------------
(available December 18, 1987), SSCO and Strome are each considered the
equivalent of a parent holding company of SSIM and are therefore eligible to
report their indirect beneficial ownership in such shares of Schedule 13G.
<PAGE>
Page 15 of 15
POWER OF ATTORNEY FORMS FOR
SCHEDULES 13D AND 13G AND FORM 13F
I, Mark E. Strome in my individual capacity and as a principal of Strome
Susskind Investment Management, L.P., hereby appoint Jeffrey S. Lambert as
attorney-in-fact and agent, in all capacities, to execute, on my behalf and on
behalf of Strome Susskind Investment Management, L.P. and-to-file with
the appropriate issuers, exchanges and regulatory authorities, any and all
Schedules 13D and 13G and Forms 13F and documents relating thereto required to
be filed under the Securities Exchange Act of 1934, including exhibits,
attachments and amendments thereto and request for confidential treatment of
information contained therein. I hereby grant to said attorney-in-fact full
authority to do every act necessary to be done in order to effectuate the same
as fully, to all intents and purposes, as I could if personally present, thereby
ratifying all that said attorneys-in-fact and agents may lawfully do or cause to
be done by virtue hereof.
I hereby execute this Power of Attorney as of this 12th day of August,
---- ------
1994.
/s/ Mark E. Strome
---------------------------
Mark E. Strome
