-----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, OlUk+9lrZOGeSi70Q0bCGBtDgqlRZC3EwVcGvh/PmXQkVsd3xe0obactYHIRZJeH WVzOor/e8mSfTyITSB85Zw== 0001193805-05-002028.txt : 20050930 0001193805-05-002028.hdr.sgml : 20050930 20050930103900 ACCESSION NUMBER: 0001193805-05-002028 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20050930 DATE AS OF CHANGE: 20050930 GROUP MEMBERS: IAT REINSURANCE COMPANY LTD. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Blue Earth Refineries Inc. CENTRAL INDEX KEY: 0001299795 STANDARD INDUSTRIAL CLASSIFICATION: PRIMARY SMELTING & REFINING OF NONFERROUS METALS [3330] IRS NUMBER: 000000000 STATE OF INCORPORATION: D8 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-80207 FILM NUMBER: 051112871 BUSINESS ADDRESS: STREET 1: UNIT 803, 8/F DINA HOUSE, RUTTONJEE CTR STREET 2: 11 DUDDELL STREET, CENTRAL CITY: HONG KONG STATE: F4 ZIP: 000000 BUSINESS PHONE: (852)2537-3613 MAIL ADDRESS: STREET 1: UNIT 803, 8/F DINA HOUSE, RUTTONJEE CTR STREET 2: 11 DUDDELL STREET, CENTRAL CITY: HONG KONG STATE: F4 ZIP: 000000 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: KELLOGG PETER R CENTRAL INDEX KEY: 0000897485 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: C/O SPEAR LEEDS & KELLOGG STREET 2: 120 BROADWAY CITY: NEW YORK STATE: NY ZIP: 10271 BUSINESS PHONE: 2123895840 MAIL ADDRESS: STREET 1: 48 WALL STREET STREET 2: C/O IAT REINSURANCE CO LTD CITY: NEW YORK STATE: NY ZIP: 10005 SC 13D/A 1 e501022_sc13da-blueearth.txt AMENDMENT NO. 1 TO SCHEDULE 13D UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D/A (Amendment No.1)* Under the Securities Exchange Act of 1934 Blue Earth Refineries Inc. (Name of Issuer) Ordinary Shares Without Par Value (Title of Class of Securities) G11999102 (CUSIP Number) Peter R. Kellogg 48 Wall Street 30th floor New York, NY 10005 (212) 389-5841 (Name, Address, and Telephone Number of Person Authorized to Receive Notices and Communications) May 12, 2005 (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(e), 13d-1(f), or 13d-1(g), check the following box |_|. Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 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 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). CUSIP No. G11999102 - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Peter R. Kellogg - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_| (b) |X| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 3,281,900 ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 522,700 OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 3,281,900 WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 522,700 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,804,600 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 28.1% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN, HC - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. G11999102 - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) IAT Reinsurance Company Ltd. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_| (b) |X| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Bermuda - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 3,231,900 ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY NONE OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 3,231,900 WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER NONE - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,231,900 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 23.8% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. G11999102 ITEM 1. SECURITY AND ISSUER: This statement on Schedule 13D relates to ordinary shares without par value (the "Shares") of Blue Earth Refineries Inc., a British Virgin Islands corporation ("Blue Earth"). The principal executive offices of the Issuer are located at 8th Floor, Dina House, Ruttonjee Centre, 11 Duddell Street, Hong Kong SAR, China. This Amendment No. 1 amends the initial statement on Schedule 13D filed jointly by Mr. Kellogg and IAT Reinsurance Company Ltd. ("IAT") relating to the event on January 6, 2005 which required the filing of the original Schedule 13D. Items 3 and 5 of the Schedule 13D are amended and supplemented as follows: ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION: 3,231,900 Shares of Blue Earth are held by IAT and its wholly-owned subsidiaries, 522,700 Shares are held by a foundation which is jointly administered by Mr. Kellogg and his wife, and 50,000 Shares are held by a partnership controlled by Mr. Kellogg. The source of funds for the purchases of the Shares was the working capital of IAT and its wholly-owned subsidiaries. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER: (a) and (b) This statement relates to 3,231,900 Shares of Blue Earth held by IAT and its wholly-owned subsidiaries, 522,700 Shares are held by a foundation which is jointly administered by Mr. Kellogg and his wife, and 50,000 Shares are held by a partnership controlled by Mr. Kellogg. Because Blue Earth does not have publicly available filings that report the number of outstanding Shares, we believe that Blue Earth has 13,557,146 Shares outstanding, which is the number of shares that were distributed on December 30, 2004 pursuant to a spin-off of Blue Earth from MFC Bancorp Ltd. Based on this number of outstanding shares, the 3,804,600 Shares reported on this Schedule 13D/A represent 28.1% of Blue Earth's outstanding Shares as of the date of the event which triggered the filing of this Schedule 13D. Mr. Kellogg has sole dispositive and voting power with respect to the Shares of Blue Earth owned by IAT and its subsidiaries. By virtue of his position with IAT, Mr. Kellogg may be considered to indirectly beneficially own such Shares. Mr. Kellogg disclaims beneficial ownership of the Shares owned by IAT and its subsidiaries, and this statement should not be deemed to be an admission that Mr. Kellogg is a member of any "group" within the meaning of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder. CUSIP No. G11999102 (c) Below is a list of all transactions in Shares of Blue Earth during the 60 days prior to the date of the event which required the filing of this Schedule 13D. All of the transactions in the Shares set forth below were made by IAT. All purchases were open market transactions on the Pink Sheets OTC. Date of Transaction Number of Shares Price Per Share ------------------------------------------------------------------ 05/10/2005 14,300 $1.55 ------------------------------------------------------------------ 05/12/2005 443,500 $1.69 ------------------------------------------------------------------ (d) The non-voting stockholders of IAT have the right to participate in the receipt of dividends from, or proceeds from the sale of, the common shares held by them in accordance with their ownership interest in IAT. (e) Not Applicable CUSIP No. G11999102 SIGNATURE After reasonable inquiry and to the best of our knowledge and belief, each of the undersigned certify that the information set forth in this statement is true, complete and correct. Dated: September 29, 2005 New York, New York /s/ Marguerite R. Gorman, attorney in fact ------------------------------------------ Marguerite R. Gorman IAT REINSURANCE COMPANY LTD. Dated: September 29, 2005 New York, New York By: /s/ Marguerite R. Gorman, attorney in fact ------------------------------------------ Name: Peter R. Kellogg Title: President & CEO -----END PRIVACY-ENHANCED MESSAGE-----