-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Hech4CQ28h3GC4Ui+EnNPO30NDh/OZCG2Jz+bycfRANVyNRCX1M1VlMxuZHj52Mq 1+0igElfx7E8CkUMGaxxBA== 0001023009-09-000013.txt : 20091217 0001023009-09-000013.hdr.sgml : 20091217 20091216175442 ACCESSION NUMBER: 0001023009-09-000013 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20091217 DATE AS OF CHANGE: 20091216 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Isaac Paul J CENTRAL INDEX KEY: 0001023009 FILING VALUES: FORM TYPE: SC 13G MAIL ADDRESS: STREET 1: 149 FIFTH AVENUE, FIFTEENTH FLOOR CITY: NEW YORK STATE: NY ZIP: 10010 FORMER COMPANY: FORMER CONFORMED NAME: ISAAC PAUL J DATE OF NAME CHANGE: 19960916 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PRESIDENTIAL LIFE CORP CENTRAL INDEX KEY: 0000080124 STANDARD INDUSTRIAL CLASSIFICATION: LIFE INSURANCE [6311] IRS NUMBER: 132652144 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-31681 FILM NUMBER: 091245527 BUSINESS ADDRESS: STREET 1: 69 LYDECKER ST CITY: NYACK STATE: NY ZIP: 10960 BUSINESS PHONE: 845-3582300 MAIL ADDRESS: STREET 1: 69 LYDECKER ST CITY: NYACK STATE: NY ZIP: 10960 SC 13G 1 plfe13g.txt UNITED STATES SECURITIES & EXCHANGE COMMISSION Washington, D.C. 20549 ---------------------- SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. )* PRESIDENTIAL LIFE CORPORATION (Name of Issuer) Common Stock (Title of Class of Securities) 740884101 (CUSIP Number) December 11, 2009 (Date of event which requires filing of this statement) Check the appropriate box to designate the rule pursuant to which this Schedule 13G is filed: [ ] Rule 13d-1(b) [X] Rule 13d-1(c) [ ] 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 in the remainder of this cover page shall not be deemed to be "filed" for purposes 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). CUSIP No. 740884101 - ----------------------------------------------------------------------------- (1) NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Arbiter Partners, LP EIN: 13-4168699 - ----------------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] - ----------------------------------------------------------------------------- (3) SEC USE ONLY - ----------------------------------------------------------------------------- (4) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ----------------------------------------------------------------------------- NUMBER OF (5) SOLE VOTING POWER 1,470,610 SHARES -------------------------------------------------------------- BENEFICIALLY (6) SHARED VOTING POWER OWNED BY -------------------------------------------------------------- EACH (7) SOLE DISPOSITIVE POWER 1,470,610 REPORTING -------------------------------------------------------------- PERSON WITH (8) SHARED DISPOSITIVE POWER - ----------------------------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,470,610 - ----------------------------------------------------------------------------- (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] - ----------------------------------------------------------------------------- (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.0% - ----------------------------------------------------------------------------- (12) TYPE OF REPORTING PERSON PN - ----------------------------------------------------------------------------- CUSIP No. 740884101 - ----------------------------------------------------------------------------- (1) NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Isaac Brothers, LLC EIN: 13-3991220 - ----------------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] - ----------------------------------------------------------------------------- (3) SEC USE ONLY - ----------------------------------------------------------------------------- (4) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ----------------------------------------------------------------------------- NUMBER OF (5) SOLE VOTING POWER SHARES -------------------------------------------------------------- BENEFICIALLY (6) SHARED VOTING POWER 10,000 OWNED BY -------------------------------------------------------------- EACH (7) SOLE DISPOSITIVE POWER REPORTING -------------------------------------------------------------- PERSON WITH (8) SHARED DISPOSITIVE POWER 10,000 - ----------------------------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 10,000 - ----------------------------------------------------------------------------- (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] - ----------------------------------------------------------------------------- (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.03% - ----------------------------------------------------------------------------- (12) TYPE OF REPORTING PERSON OO - ----------------------------------------------------------------------------- CUSIP No. 740884101 - ----------------------------------------------------------------------------- (1) NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Karen Isaac - ----------------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] - ----------------------------------------------------------------------------- (3) SEC USE ONLY - ----------------------------------------------------------------------------- (4) CITIZENSHIP OR PLACE OF ORGANIZATION USA - ----------------------------------------------------------------------------- NUMBER OF (5) SOLE VOTING POWER SHARES -------------------------------------------------------------- BENEFICIALLY (6) SHARED VOTING POWER 1,400 OWNED BY -------------------------------------------------------------- EACH (7) SOLE DISPOSITIVE POWER REPORTING -------------------------------------------------------------- PERSON WITH (8) SHARED DISPOSITIVE POWER 1,400 - ----------------------------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,400 - ----------------------------------------------------------------------------- (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] - ----------------------------------------------------------------------------- (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.01% - ----------------------------------------------------------------------------- (12) TYPE OF REPORTING PERSON IN - ----------------------------------------------------------------------------- Item 1 (a). Name of Issuer: (b). Address of Issuer's Principal Executive Offices Presidential Life Corp. 69 Lydecker Street Nyack, NY 10960 Item 2 (a). Name of Person Filing: (b). Address of Principal Business Office or, if None, Residence: (c). Citizenship: (d). Title of Class of Securities: (e). CUSIP Number: Arbiter Partners, L.P. 149 Fifth Avenue, 15th Floor New York, New York 10010 Delaware Common Stock 740884101 Isaac Brothers, LLC 75 Prospect Avenue Larchmont, New York 10538 Delaware Common Stock 74088410 Karen Isaac 75 Prospect Avenue Larchmont, New York 10538 Delaware Common Stock 74088410 Item 3. Not applicable Item 4. Ownership. Arbiter Partners, L.P. (a) Amount beneficially owned: 1,470,610 (b) Percent of class: 5.0%. (c)(i) Sole power to vote or direct the vote: 1,470,610 (ii) Shared power to vote or direct the vote: (iii) Sole power to dispose or direct the disposition: 1,470,610 (iv) Shared power to dispose or direct the disposition: Isaac Brothers, LLC (a) Amount beneficially owned: 10,000 (b) Percent of class: 0.03% (c)(i) Sole power to vote or direct the vote: (ii) Shared power to vote or direct the vote: 10,000 (iii) Sole power to dispose or direct the disposition: (iv) Shared power to dispose or direct the disposition: 10,000 Karen Isaac (a) Amount beneficially owned: 1,400 (b) Percent of class: 0.01% (c)(i) Sole power to vote or direct the vote: (ii) Shared power to vote or direct the vote: 1,400 (iii) Sole power to dispose or direct the disposition: (iv) Shared power to dispose or direct the disposition: 1,400 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. 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 the 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. SIGNATURE After reasonable inquiry and to the best of our knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct. DATED: December 16, 2009 Paul J. Isaac Manager, Arbiter Partners, L.P. and Isaac Brothers, LLC -----END PRIVACY-ENHANCED MESSAGE-----