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Stonehill Capital Management LLC, et al. – ‘SC 13G/A’ on 2/9/16 re: WCI Communities, Inc.

On:  Tuesday, 2/9/16, at 1:46pm ET   ·   Accession #:  1193125-16-455072   ·   File #:  5-87937

Previous ‘SC 13G’:  ‘SC 13G/A’ on 2/9/16   ·   Next:  ‘SC 13G/A’ on 2/13/17   ·   Latest:  ‘SC 13G’ on 3/4/24

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  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 2/09/16  Stonehill Capital Management LLC  SC 13G/A               1:137K WCI Communities, Inc.             RR Donnelley/FA
          Christopher Wilson
          John Motulsky
          Jonathan Sacks
          Michael Stern
          Michael Thoyer
          Peter Sisitsky
          Stonehill Institutional Partners, L.P.
          Thomas Varkey

Amendment to Statement of Beneficial Ownership   —   Schedule 13G
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: SC 13G/A    Amendment No. 3 to Schedule 13G                     HTML     64K 


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  Amendment No. 3 to Schedule 13G  

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. 3)*

 

 

WCI Communities, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

92923C807

(CUSIP Number)

December 31, 2015

(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)

 

* 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 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).

 

 

 


SCHEDULE 13G

 

CUSIP No.   Page 2 of 14 Pages

 

  1   

Names of Reporting Persons

 

Stonehill Capital Management LLC

  2  

Check the Appropriate Box If a Member of a Group (See Instructions)

a  ¨        b  ¨

 

  3  

SEC Use Only

 

  4  

Citizenship or Place of Organization

 

Delaware, USA

Number of

Shares

Beneficially

Owned By

Each

Reporting

Person

With

   5    

Sole Voting Power

 

0

   6   

Shared Voting Power

 

1,968,430

   7   

Sole Dispositive Power

 

0

   8   

Shared Dispositive Power

 

1,968,430

  9  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

1,968,430

10  

Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)

 

[    ]

11  

Percent of Class Represented By Amount in Row (9)

 

7.6%

12  

Type of Reporting Person (See Instructions)

 

IA


SCHEDULE 13G

 

CUSIP No.   Page 3 of 14 Pages

 

  1   

Names of Reporting Persons

 

Stonehill Institutional Partners, L.P.

  2  

Check the Appropriate Box If a Member of a Group (See Instructions)

a  ¨        b  ¨

 

  3  

SEC Use Only

 

  4  

Citizenship or Place of Organization

 

Delaware, USA

Number of

Shares

Beneficially

Owned By

Each

Reporting

Person

With

   5    

Sole Voting Power

 

0

   6   

Shared Voting Power

 

1,967,746

   7   

Sole Dispositive Power

 

0

   8   

Shared Dispositive Power

 

1,967,746

  9  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

1,967,746

10  

Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)

 

[    ]

11  

Percent of Class Represented By Amount in Row (9)

 

7.6%

12  

Type of Reporting Person (See Instructions)

 

PN


SCHEDULE 13G

 

CUSIP No.   Page 4 of 14 Pages

 

  1   

Names of Reporting Persons

 

John Motulsky

  2  

Check the Appropriate Box If a Member of a Group (See Instructions)

a  ¨        b  ¨

 

  3  

SEC Use Only

 

  4  

Citizenship or Place of Organization

 

USA

Number of

Shares

Beneficially

Owned By

Each

Reporting

Person

With

   5    

Sole Voting Power

 

0

   6   

Shared Voting Power

 

1,968,430

   7   

Sole Dispositive Power

 

0

   8   

Shared Dispositive Power

 

1,968,430

  9  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

1,968,430

10  

Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)

 

[    ]

11  

Percent of Class Represented By Amount in Row (9)

 

7.6%

12  

Type of Reporting Person (See Instructions)

 

IN, HC


SCHEDULE 13G

 

CUSIP No.   Page 5 of 14 Pages

 

  1   

Names of Reporting Persons

 

Christopher Wilson

  2  

Check the Appropriate Box If a Member of a Group (See Instructions)

a  ¨        b  ¨

 

  3  

SEC Use Only

 

  4  

Citizenship or Place of Organization

 

USA

Number of

Shares

Beneficially

Owned By

Each

Reporting

Person

With

   5    

Sole Voting Power

 

0

   6   

Shared Voting Power

 

1,968,430

   7   

Sole Dispositive Power

 

0

   8   

Shared Dispositive Power

 

1,968,430

  9  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

1,968,430

10  

Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)

 

[    ]

11  

Percent of Class Represented By Amount in Row (9)

 

7.6%

12  

Type of Reporting Person (See Instructions)

 

IN, HC


SCHEDULE 13G

 

CUSIP No.   Page 6 of 14 Pages

 

  1   

Names of Reporting Persons

 

Thomas Varkey

  2  

Check the Appropriate Box If a Member of a Group (See Instructions)

a  ¨        b  ¨

 

  3  

SEC Use Only

 

  4  

Citizenship or Place of Organization

 

USA

Number of

Shares

Beneficially

Owned By

Each

Reporting

Person

With

   5    

Sole Voting Power

 

0

   6   

Shared Voting Power

 

1,968,430

   7   

Sole Dispositive Power

 

0

   8   

Shared Dispositive Power

 

1,968,430

  9  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

1,968,430

10  

Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)

 

[    ]

11  

Percent of Class Represented By Amount in Row (9)

 

7.6%

12  

Type of Reporting Person (See Instructions)

 

IN, HC


SCHEDULE 13G

 

CUSIP No.   Page 7 of 14 Pages

 

  1   

Names of Reporting Persons

 

Jonathan Sacks

  2  

Check the Appropriate Box If a Member of a Group (See Instructions)

a  ¨        b  ¨

 

  3  

SEC Use Only

 

  4  

Citizenship or Place of Organization

 

USA

Number of

Shares

Beneficially

Owned By

Each

Reporting

Person

With

   5    

Sole Voting Power

 

0

   6   

Shared Voting Power

 

1,968,430

   7   

Sole Dispositive Power

 

0

   8   

Shared Dispositive Power

 

1,968,430

  9  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

1,968,430

10  

Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)

 

[    ]

11  

Percent of Class Represented By Amount in Row (9)

 

7.6%

12  

Type of Reporting Person (See Instructions)

 

IN, HC


SCHEDULE 13G

 

CUSIP No.   Page 8 of 14 Pages

 

  1   

Names of Reporting Persons

 

Peter Sisitsky

  2  

Check the Appropriate Box If a Member of a Group (See Instructions)

a  ¨        b  ¨

 

  3  

SEC Use Only

 

  4  

Citizenship or Place of Organization

 

USA

Number of

Shares

Beneficially

Owned By

Each

Reporting

Person

With

   5    

Sole Voting Power

 

0

   6   

Shared Voting Power

 

1,968,430

   7   

Sole Dispositive Power

 

0

   8   

Shared Dispositive Power

 

1,968,430

  9  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

1,968,430

10  

Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)

 

[    ]

11  

Percent of Class Represented By Amount in Row (9)

 

7.6%

12  

Type of Reporting Person (See Instructions)

 

IN, HC


SCHEDULE 13G

 

CUSIP No.   Page 9 of 14 Pages

 

  1   

Names of Reporting Persons

 

Michael Thoyer

  2  

Check the Appropriate Box If a Member of a Group (See Instructions)

a  ¨        b  ¨

 

  3  

SEC Use Only

 

  4  

Citizenship or Place of Organization

 

USA

Number of

Shares

Beneficially

Owned By

Each

Reporting

Person

With

   5    

Sole Voting Power

 

0

   6   

Shared Voting Power

 

1,968,430

   7   

Sole Dispositive Power

 

0

   8   

Shared Dispositive Power

 

1,968,430

  9  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

1,968,430

10  

Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)

 

[    ]

11  

Percent of Class Represented By Amount in Row (9)

 

7.6%

12  

Type of Reporting Person (See Instructions)

 

IN, HC


SCHEDULE 13G

 

CUSIP No.   Page 10 of 14 Pages

 

  1   

Names of Reporting Persons

 

Michael Stern

  2  

Check the Appropriate Box If a Member of a Group (See Instructions)

a  ¨        b  ¨

 

  3  

SEC Use Only

 

  4  

Citizenship or Place of Organization

 

USA

Number of

Shares

Beneficially

Owned By

Each

Reporting

Person

With

   5    

Sole Voting Power

 

0

   6   

Shared Voting Power

 

1,968,430

   7   

Sole Dispositive Power

 

0

   8   

Shared Dispositive Power

 

1,968,430

  9  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

1,968,430

10  

Check Box If the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)

 

[    ]

11  

Percent of Class Represented By Amount in Row (9)

 

7.6%

12  

Type of Reporting Person (See Instructions)

 

IN, HC


  Page 11 of 14 Pages

 

ITEM 1(a).    NAME OF ISSUER:
   WCI Communities, Inc.
ITEM 1(b).    ADDRESS OF ISSUER’S PRINCIPAL EXECUTIVE OFFICES:
   24301 Walden Center Drive, Bonita Springs, FL 34134
ITEM 2(a).    NAME OF PERSON FILING:   
   This initial filing of Schedule 13G is being filed on behalf of the following persons (the “Reporting Persons”):
  

(i)       Stonehill Capital Management LLC (“Management”)

  

(ii)      Stonehill Institutional Partners, L.P. (“Fund”)

  

(iii)     John Motulsky (“Motulsky”)

  

(iv)     Christopher Wilson (“Wilson”)

  

(v)      Thomas Varkey (“Varkey”)

  

(vi)     Jonathan Sacks (“Sacks”)

  

(vii)    Peter Sisitsky (“Sisitsky”)

  

(viii)  Michael Thoyer (“Thoyer”)

  

(ix)     Michael Stern (“Stern”)

ITEM 2(b).    ADDRESS OF PRINCIPAL BUSINESS OFFICE:
   c/o Stonehill Capital Management LLC
   885 Third Avenue
   30th Floor
   New York, NY 10022
ITEM 2(c).    CITIZENSHIP:
   Management:    Delaware limited liability company
   Fund:    Delaware limited partnership
   Motulsky:    US Citizen
   Wilson:    US Citizen
   Varkey:    US Citizen
   Sacks:    US Citizen
   Sisitsky:    US Citizen
   Thoyer:    US Citizen
   Stern:    US Citizen
ITEM 2(d).    TITLE OF CLASS OF SECURITIES:
   Common stock   
ITEM 2(e).    CUSIP NUMBER:   
   92923C 807   
ITEM 3.    IF THIS STATEMENT IS FILED PURSUANT TO RULE 13D-1(B), OR 13D-2(B) OR (C) CHECK WHETHER THE PERSON FILING IS A:
   Not applicable.   
ITEM 4.    OWNERSHIP:   
   The information in items 1 and 5 through 11 on the cover pages (pp. 2 -10) on this Schedule 13G is hereby incorporated by reference.


  Page 12 of 14 Pages

 

ITEM 5.    OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:
   If this statement is being filed to report the fact that as of the date hereof the Reporting Persons have ceased to be the beneficial owner of more than five percent of the class of securities check the following.  ¨
ITEM 6.    OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON:
   Not applicable.
ITEM 7.    IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY:
   Not applicable.
ITEM 8.    IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF A GROUP:
   Not applicable.
ITEM 9.    NOTICE OF DISSOLUTION OF GROUP:
   Not applicable.
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 or effect.


  Page 13 of 14 Pages

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: February 9, 2016

 

STONEHILL CAPITAL MANAGEMENT LLC*
By:   /s/ Paul D. Malek
  Paul D. Malek
  An Authorized Signatory of a Member

 

STONEHILL INSTITUTIONAL PARTNERS, L.P. *
By:   /s/ Paul D. Malek
  Paul D. Malek
  An Authorized Signatory of Stonehill General Partner, LLC, its general partner

JOHN MOTULSKY*

/s/ Paul D. Malek

Paul D. Malek

Attorney-in-Fact for John Motulsky

CHRISTOPHER WILSON*

/s/ Paul D. Malek

Paul D. Malek

Attorney-in-Fact for Christopher Wilson

THOMAS VARKEY*

/s/ Paul D. Malek

Paul D. Malek

Attorney-in-Fact for Thomas Varkey

JONATHAN SACKS*

/s/ Paul D. Malek

Paul D. Malek

Attorney-in-Fact for Jonathan Sacks

PETER SISITSKY*

/s/ Paul D. Malek

Paul D. Malek

Attorney-in-Fact for Peter Sisitsky

MICHAEL THOYER*

/s/ Paul D. Malek

Paul D. Malek

Attorney-in-Fact for Michael Thoyer

MICHAEL STERN*

/s/ Paul D. Malek

Paul D. Malek

Attorney-in-Fact for Michael Stern

* The Reporting Persons disclaim beneficial ownership in the shares reported herein except to the extent of their pecuniary interest therein, and this report shall not otherwise be deemed an admission that any of them is the beneficial owner of such securities for purposes of Section 13(d) or Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purposes


  Page 14 of 14 Pages

EXHIBIT 1

AGREEMENT OF JOINT FILING

Stonehill Capital Management LLC, Stonehill Institutional Partners, L.P., John Motulsky, Christopher Wilson, Thomas Varkey, Peter Sisitsky, Michael Thoyer, Jonathan Sacks and Michael Stern hereby agree that the Statement on Schedule 13G to which this agreement is attached as an exhibit as well as all future amendments to such Statement, shall be filed jointly on behalf of each of them. This agreement is intended to satisfy the requirements of Rule 13d-1(k)(1)(iii) under the Securities Exchange Act of 1934, as amended.

Dated: February 9, 2016

 

STONEHILL CAPITAL MANAGEMENT LLC
By:   /s/ Paul D. Malek
  Paul D. Malek
  An Authorized Signatory of a Member

 

STONEHILL INSTITUTIONAL PARTNERS, L.P.
By:   /s/ Paul D. Malek
  Paul D. Malek
  An Authorized Signatory of Stonehill General Partner, LLC, its general partner

JOHN MOTULSKY

/s/ Paul D. Malek

Paul D. Malek

Attorney-in-Fact for John Motulsky

CHRISTOPHER WILSON

/s/ Paul D. Malek

Paul D. Malek

Attorney-in-Fact for Christopher Wilson

THOMAS VARKEY

/s/ Paul D. Malek

Paul D. Malek

Attorney-in-Fact for Thomas Varkey

JONATHAN SACKS

/s/ Paul D. Malek

Paul D. Malek

Attorney-in-Fact for Jonathan Sacks

PETER SISITSKY

/s/ Paul D. Malek

Paul D. Malek

Attorney-in-Fact for Peter Sisitsky

MICHAEL THOYER

/s/ Paul D. Malek

Paul D. Malek

Attorney-in-Fact for Michael Thoyer

MICHAEL STERN

/s/ Paul D. Malek

Paul D. Malek

Attorney-in-Fact for Michael Stern


Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘SC 13G/A’ Filing    Date    Other Filings
Filed on:2/9/16SC 13G/A
12/31/155
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