-----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, D6+WhXx0DVR0n2h9gb3m4kujHzwrpwpeaIO+FO7Pz3XgZe/jkzOCrX34f4nakaeu W9S66MB9/smPavfPZOUGeg== 0000898430-98-001000.txt : 19980323 0000898430-98-001000.hdr.sgml : 19980323 ACCESSION NUMBER: 0000898430-98-001000 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 19980320 SROS: NONE GROUP MEMBERS: CANPARTNERS INC GROUP MEMBERS: CANYON CAPITAL MANAGEMENT, L.P. GROUP MEMBERS: JOSHUA S. FRIEDMAN GROUP MEMBERS: MITCHELL R. JULIS GROUP MEMBERS: R. CHRISTIAN B. EVENSEN SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: NEW VALLEY CORP CENTRAL INDEX KEY: 0000106374 STANDARD INDUSTRIAL CLASSIFICATION: [9995] IRS NUMBER: 135482050 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: SEC FILE NUMBER: 005-30749 FILM NUMBER: 98570161 BUSINESS ADDRESS: STREET 1: INTERNATIONAL PLACE STREET 2: 100 SOUTHEAST SECOND STREET CITY: MIAMI STATE: FL ZIP: 33131 BUSINESS PHONE: 3055798000 MAIL ADDRESS: STREET 1: INTERNATIONAL PLACE STREET 2: 100 SE SECOND STREET CITY: MIAMI STATE: FL ZIP: 33131 FORMER COMPANY: FORMER CONFORMED NAME: WESTERN UNION CORP/NY/ DATE OF NAME CHANGE: 19910516 FORMER COMPANY: FORMER CONFORMED NAME: WESTERN UNION TELEGRAPH CO /NY/ DATE OF NAME CHANGE: 19880121 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: CANPARTNERS INC CENTRAL INDEX KEY: 0001031180 STANDARD INDUSTRIAL CLASSIFICATION: [] STATE OF INCORPORATION: CA FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 9665 WILSHIRE BLVD., SUITE 200 CITY: BEVERLY HILLS STATE: CA ZIP: 90212 BUSINESS PHONE: 3102472700 SC 13G 1 SCHEDULE 13G SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 SCHEDULE 13G (RULE 13d-102) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES 13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2 (AMENDMENT NO. __)/1/ NEW VALLEY CORPORATION ---------------------- (Name of Issuer) CLASS A SENIOR PREFERRED SHARES ------------------------------- (Title of Class of Securities) 64908 0 207 ----------- (CUSIP Number) MARCH 11, 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) [X] Rule 13d-1(c) [_] 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 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 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. 64908 0 207 13G PAGE 2 OF 9 PAGES - ----------------------- --------------------- - ------------------------------------------------------------------------------ NAME OF REPORTING PERSON: CANPARTNERS INCORPORATED 1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY): - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2 (a) [X] (b) [_] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 4 CALIFORNIA - ------------------------------------------------------------------------------ SOLE VOTING POWER 5 NUMBER OF 57,118 SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 6 0 OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 7 REPORTING 57,118 PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 8 0 - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 9 57,118 - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* 10 [_] - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 11 5.3% - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON* 12 CO - ------------------------------------------------------------------------------ *SEE INSTRUCTIONS BEFORE FILLING OUT! - ----------------------- --------------------- CUSIP NO. 64908 0 207 13G PAGE 3 OF 9 PAGES - ----------------------- --------------------- - ------------------------------------------------------------------------------ NAME OF REPORTING PERSON: CANYON CAPITAL MANAGEMENT, L.P. 1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY): - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2 (a) [X] (b) [_] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 4 CALIFORNIA - ------------------------------------------------------------------------------ SOLE VOTING POWER 5 NUMBER OF 57,118 SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 6 0 OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 7 REPORTING 57,118 PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 8 0 - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 9 57,118 - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* 10 [_] - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 11 5.3% - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON* 12 PN - ------------------------------------------------------------------------------ *SEE INSTRUCTIONS BEFORE FILLING OUT! - ----------------------- --------------------- CUSIP NO. 64908 0 207 13G PAGE 4 OF 9 PAGES - ----------------------- --------------------- - ------------------------------------------------------------------------------ NAME OF REPORTING PERSONS MITCHELL R. JULIS 1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2 (a) [X] (b) [_] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 4 UNITED STATES - ------------------------------------------------------------------------------ SOLE VOTING POWER 5 NUMBER OF 0 SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 6 57,118 OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 7 REPORTING 0 PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 8 57,118 - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 9 57,118 - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* 10 [_] - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 11 5.3% - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON* 12 IN - ------------------------------------------------------------------------------ *SEE INSTRUCTIONS BEFORE FILLING OUT! - ----------------------- --------------------- CUSIP NO. 64908 0 207 13G PAGE 5 OF 9 PAGES - ----------------------- --------------------- - ------------------------------------------------------------------------------ NAME OF REPORTING PERSON JOSHUA S. FRIEDMAN 1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2 (a) [X] (b) [_] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 4 UNITED STATES - ------------------------------------------------------------------------------ SOLE VOTING POWER 5 NUMBER OF 0 SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 6 57,118 OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 7 REPORTING 0 PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 8 57,118 - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 9 57,118 - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* 10 [_] - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 11 5.3% - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON* 12 IN - ------------------------------------------------------------------------------ *SEE INSTRUCTIONS BEFORE FILLING OUT! - ----------------------- --------------------- CUSIP NO. 64908 0 207 13G PAGE 6 OF 9 PAGES - ----------------------- --------------------- - ------------------------------------------------------------------------------ NAME OF REPORTING PERSONS R. CHRISTIAN B. EVENSEN 1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2 (a) [X] (b) [_] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 4 UNITED STATES - ------------------------------------------------------------------------------ SOLE VOTING POWER 5 NUMBER OF 0 SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 6 57,118 OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 7 REPORTING 0 PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 8 57,118 - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 9 57,118 - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* 10 [_] - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 11 5.3% - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON* 12 IN - ------------------------------------------------------------------------------ *SEE INSTRUCTIONS BEFORE FILLING OUT! - ----------------------- --------------------- CUSIP NO. 64908 0 207 13G PAGE 7 OF 9 PAGES - ----------------------- --------------------- ITEM 1(a). NAME OF ISSUER: New Valley Corporation ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: 100 S.E. Second Street Miami, FL 33131 ITEM 2(a). NAME OF PERSON FILING: This schedule is being filed on behalf of the following persons*: (i) Canpartners Incorporated ("Canpartners") (ii) Canyon Capital Management, L.P. ("CCM") (iii) Mitchell R. Julis (iv) Joshua S. Friedman (v) R. Christian B. Evensen * Attached as Exhibit A is a copy of an agreement between the Persons filing (as specified hereinabove) that this Schedule 13G is being filed on behalf of each of them. ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE: The principal business office of the persons comprising the group filing this Schedule 13G is located at 9665 Wilshire Boulevard, Suite 200, Beverly Hills, CA 90212. ITEM 2(c). CITIZENSHIP: Canpartners: a California corporation CCM a California limited partnership Mitchell R. Julis: United States Joshua S. Friedman: United States R. Christian B. Evensen: United States ITEM 2(d). TITLE OF CLASS OF SECURITIES: The class of securities beneficially owned by the persons filing this statement is Class A Senior Preferred Shares. ITEM 2(e). CUSIP NUMBER: - ----------------------- --------------------- CUSIP NO. 64908 0 207 13G PAGE 8 OF 9 PAGES - ----------------------- --------------------- 64908 0 207 ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13d-1(c), CHECK THIS BOX: [X] ITEM 4. OWNERSHIP: The information in items 1 and 5 through 11 on the cover pages (pp.2 - 6) on Schedule 13G is hereby incorporated by reference. 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 person has 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: CCM is an investment advisor to various managed accounts with the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities. Canpartners is the general partner of CCM and Messrs. Julis, Friedman and Evensen own 100% of Canpartners. 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. - ----------------------- --------------------- CUSIP NO. 64908 0 207 13G PAGE 9 OF 9 PAGES - ----------------------- --------------------- 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. 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: March 20, 1998 CANPARTNERS INCORPORATED, CANYON CAPITAL MANAGEMENT, L.P. a California corporation a California limited partnership By: Canpartners Incorporated, By: /s/ Joshua S. Friedman a California corporation, ----------------------------- its general partner Name: Joshua S. Friedman Title: Vice President By: /s/ Joshua S. Friedman ------------------------------- Name: Joshua S. Friedman MITCHELL R. JULIS Title: Vice-President /s/ Mitchell R. Julis JOSHUA S. FRIEDMAN - ---------------------------------- Mitchell R. Julis /s/ Joshua S. Friedman ------------------------------------ Joshua S. Friedman R. CHRISTIAN B. EVENSEN /s/ R. Christian B. Evensen - ---------------------------------- R. Christian B. Evensen EX-99.A 2 AGREEMENT REGARDING JOINT FILING EXHIBIT A AGREEMENT REGARDING JOINT FILING -------------------------------- The undersigned hereby agree and consent to the joint filing on their behalf of this Schedule 13G in connection with their beneficial ownership of the Class A Senior Preferred Shares of New Valley Corporation Dated: March 20, 1998 CANPARTNERS INCORPORATED, CANYON CAPITAL MANAGEMENT, L.P. a California corporation a California limited partnership By: Canpartners Incorporated, By:/s/ Joshua S. Friedman a California corporation, - ---------------------------------- its general partner Name: Joshua S. Friedman Title: Vice President By: /s/ Joshua S. Friedman ------------------------------- Name: Joshua S. Friedman MITCHELL R. JULIS Title: Vice-President /s/ Mitchell R. Julis JOSHUA S. FRIEDMAN - ---------------------------------- Mitchell R. Julis /s/ Joshua S. Friedman ------------------------------------ R. CHRISTIAN B. EVENSEN Joshua S. Friedman /s/ R. Christian B. Evensen - ---------------------------------- R. Christian B. Evensen -----END PRIVACY-ENHANCED MESSAGE-----