U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1)*
HIGHLAND BANCORP, INC.
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(Name of Issuer)
Common Stock, $.01 par value per share
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(Title of Class of Securities)
429879109
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(CUSIP Number)
Stephen Zuppello, Managing Director
Deltec Asset Management Corporation
645 Fifth Avenue, 18th Floor, New York, New York 10022
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
August 23, 1999
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed 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 [_].
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 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 4 Pages
<PAGE>
SCHEDULE 13D
- --------------------------------- -----------------------------------
CUSIP NO. 429879109 PAGE 2 OF 4 PAGES
- --------------------------------- -----------------------------------
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1 NAME OF REPORTING PERSON S.S. OR
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Deltec International S.A.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_]
(b) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) [_]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Republic of Panama
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7 SOLE VOTING POWER
-0-
NUMBER OF ------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY -0-
EACH ------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH -0-
------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[_]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.0%
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14 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
Deltec International S.A. ("Deltec International"), hereby amends its
statement on Schedule 13D with respect to the Common Stock $0.01 par value per
share (the "Shares"), of Highland Bancorp, Inc. to report that it has sold all
its Shares.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
As of the date of filing this statement, Deltec International
beneficially owns no Shares, or zero percent of the outstanding Shares. On
August 23, 1999, Deltec sold 1,091,696.50 Shares in the over-the-counter market
at $18.25 per share to Sandler O'Neill & Partners L.P., which Deltec
International believes purchased the Shares for resale in the over-the-counter
market. Deltec International ceased to be the beneficial owner of more than five
percent of the class of securities on that date.
Page 3 of 4 Pages
<PAGE>
Signature
After reasonable inquiry and to the best of its knowledge and belief,
the undersigned certifies that the information set forth in this statement is
true, complete and correct.
Dated: August 27, 1999 DELTEC INTERNATIONAL S.A.
By /s/ Stephen Zuppello
---------------------------------
Stephen Zuppello
Director
Page 4 of 4 Pages
