-----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, VtNdq9+CHrXNCcZqTYRc5JiYjP4k3nkvcVebq4IDd6psS2YOtat5fZwF94cMmU/p ZbMjsrD4jzJO2LVc8ExQMw== 0001141111-03-000006.txt : 20030214 0001141111-03-000006.hdr.sgml : 20030214 20030214101359 ACCESSION NUMBER: 0001141111-03-000006 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20030214 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: SMITHFIELD FIDUCIARY LLC CENTRAL INDEX KEY: 0001141111 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: P.O. BOX 30554, SEVEN MILE BEACH CITY: GRAND CAYMAN STATE: A1 ZIP: 00000 BUSINESS PHONE: 3459451400 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: MUTUAL RISK MANAGEMENT LTD CENTRAL INDEX KEY: 0000826918 STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331] IRS NUMBER: 000000000 STATE OF INCORPORATION: D0 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-41924 FILM NUMBER: 03563226 BUSINESS ADDRESS: STREET 1: 44 CHURCH ST STREET 2: BERMUDA CITY: HAMILTON HM 12 BERMU STATE: D0 BUSINESS PHONE: 4412955688 MAIL ADDRESS: STREET 1: PO BOX 2064 STREET 2: BERMUDA CITY: HAMILTON HM HX STATE: D0 ZIP: 1000000000 SC 13G/A 1 mm-amd1.txt MUTUAL RISK MANAGEMENT LTD. -COMMON STOCK -AMD 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G/A (Rule 13d-102) Information Statement Pursuant to Rules 13d-1 and 13d-2 Under the Securities Exchange Act of 1934 (Amendment No.1)* MUTUAL RISK MANAGEMENT LTD. - -------------------------------------------------------------------------- (Name of Issuer) Common Stock - -------------------------------------------------------------------------- (Title of Class of Securities) 628351108 --------------------------- (CUSIP Number) December 31, 2002 ----------------------------------------------------- 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) *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. 628351108 - -------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Smithfield Fiduciary LLC - not applicable - -------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X] (b) [ ] - -------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands, British West Indies - -------------------------------------------------------------------------- 5. SOLE VOTING POWER 0 NUMBER OF ----------------------------------------------------------- SHARES 6. SHARED VOTING POWER BENEFICIALLY 2,197,121 shares of Common Stock /1/ OWNED BY EACH ----------------------------------------------------------- REPORTING 7. SOLE DISPOSITIVE POWER PERSON 0 WITH ----------------------------------------------------------- 8. SHARED DISPOSITIVE POWER 2,197,121 shares of Common Stock /1/ - -------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,197,121 shares of Common Stock /1/ - -------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] - -------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) Approximately 5.0% as of December 31, 2002. (Based on 41,639,188 shares of Common Stock issued and outstanding as of September 30, 2002, plus the shares of Common Stock issuable upon conversion of the Debentures referred to in Footnote 1 of Item 4 below.) - -------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON OO - Limited Liability Company - -------------------------------------------------------------------------- /1/ See Footnote 1 in Item 4. - -------------------------------------------------------------------------- CUSIP NO. 628351108 - -------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Highbridge International LLC - not applicable - -------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X] (b) [ ] - -------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands, British West Indies - -------------------------------------------------------------------------- 5. SOLE VOTING POWER 0 NUMBER OF ----------------------------------------------------------- SHARES 6. SHARED VOTING POWER BENEFICIALLY 2,197,121 shares of Common Stock /1/ OWNED BY EACH ----------------------------------------------------------- REPORTING 7. SOLE DISPOSITIVE POWER PERSON 0 WITH ----------------------------------------------------------- 8. SHARED DISPOSITIVE POWER 2,197,121 shares of Common Stock /1/ - -------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,197,121 shares of Common Stock /1/ - -------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] - -------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) Approximately 5.0% as of December 31, 2002. (Based on 41,639,188 shares of Common Stock issued and outstanding as of September 30, 2002, plus the shares of Common Stock issuable upon conversion of the Debentures referred to in Footnote 1 of Item 4 below.) - -------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON OO - Limited Liability Company - -------------------------------------------------------------------------- /1/ See Footnote 1 in Item 4. - -------------------------------------------------------------------------- CUSIP NO. 628351108 - -------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Highbridge Capital Corporation - not applicable - -------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X] (b) [ ] - -------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands, British West Indies - -------------------------------------------------------------------------- 5. SOLE VOTING POWER 0 NUMBER OF ----------------------------------------------------------- SHARES 6. SHARED VOTING POWER BENEFICIALLY 2,197,121 shares of Common Stock /1/ OWNED BY EACH ----------------------------------------------------------- REPORTING 7. SOLE DISPOSITIVE POWER PERSON 0 WITH ----------------------------------------------------------- 8. SHARED DISPOSITIVE POWER 2,197,121 shares of Common Stock /1/ - -------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,197,121 shares of Common Stock /1/ - -------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] - -------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) Approximately 5.0% as of December 31, 2002. (Based on 41,639,188 shares of Common Stock issued and outstanding as of September 30, 2002, plus the shares of Common Stock issuable upon conversion of the Debentures referred to in Footnote 1 of Item 4 below.) - -------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON OO - Limited Liability Company - -------------------------------------------------------------------------- /1/ See Footnote 1 in Item 4. - -------------------------------------------------------------------------- CUSIP NO. 628351108 - -------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Highbridge Capital Management, LLC - 13-3993048 - -------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X] (b) [ ] - -------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION State of Delaware - -------------------------------------------------------------------------- 5. SOLE VOTING POWER 0 NUMBER OF ----------------------------------------------------------- SHARES 6. SHARED VOTING POWER BENEFICIALLY 2,197,121 shares of Common Stock /1/ OWNED BY EACH ----------------------------------------------------------- REPORTING 7. SOLE DISPOSITIVE POWER PERSON 0 WITH ----------------------------------------------------------- 8. SHARED DISPOSITIVE POWER 2,197,121 shares of Common Stock /1/ - -------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,197,121 shares of Common Stock /1/ - -------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] - -------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) Approximately 5.0% as of December 31, 2002. (Based on 41,639,188 shares of Common Stock issued and outstanding as of September 30, 2002, plus the shares of Common Stock issuable upon conversion of the Debentures referred to in Footnote 1 of Item 4 below.) - -------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON OO - Limited Liability Company - -------------------------------------------------------------------------- /1/ See Footnote 1 in Item 4. Item 1. (a) Name of Issuer Mutual Risk Management Ltd. (b) Address of Issuer's Principal Executive Offices: 44 Church Street Hamilton HM12, Bermuda Item 2(a). Name of Person Filing Item 2(b). Address of Principal Business Office Item 2(c). Citizenship Smithfield Fiduciary LLC The Anchorage Centre, 2nd Floor Harbour Drive, George Town, Grand Cayman, Cayman Islands, British West Indies Citizenship: Cayman Islands, British West Indies Highbridge International LLC The Anchorage Centre, 2nd Floor Harbour Drive, George Town, Grand Cayman, Cayman Islands, British West Indies Citizenship: Cayman Islands, British West Indies Highbridge Capital Corporation The Anchorage Centre, 2nd Floor Harbour Drive, George Town, Grand Cayman, Cayman Islands, British West Indies Citizenship: Cayman Islands, British West Indies Highbridge Capital Management, LLC 9 West 57th Street, 27th Floor New York, New York 10019 Citizenship: State of Delaware (d) Title of Class of Securities Common Shares, par value $.01 per share (e) CUSIP Number 628351108 Item 3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b), check whether the person filing is a: (a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). (b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) [ ] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F); (g) [ ] A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G); (h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J). If this statement is filed pursuant to Rule 13d-1(c), check this box. [X] Item 4. Ownership (a) Amount Beneficially Owned 2,197,121 shares of Common Stock /1/ (b) Percent of Class Approximately 5.0% as of December 31, 2002. (Based on 41,639,188 shares of Common Stock issued and outstanding as of September 30, 2002, plus the shares of Common Stock issuable upon conversion of the Debentures referred to in Footnote 1 below.) (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote 0 (ii) shared power to vote or to direct the vote See item (a) above. (iii) sole power to dispose or to direct the disposition of 0 (iv) shared power to dispose or to direct the disposition of See item (a) above. /1/ On December 31, 2002, Smithfield Fiduciary LLC was the beneficial owner of approximately $15,379,844 aggregate principal amount of 9 3/8% Convertible Exchangeable Debentures due 2006 (the "Debentures") of Mutual Risk Management Ltd. (the "Company") and Series A Preferred Shares due 2006 of the Company (the "Preferred Shares"). The Debentures themselves carry no voting rights but have been issued as a unit with the Preferred Shares. The Preferred Shares have voting rights proportionate to the voting rights the holders would have upon conversion of the Debentures into shares of Common Stock. The Preferred Shares have no liquidation preference or dividend rights and are entitled to one vote per share on all matters submitted to the shareholders of the Company. The Debentures may be converted, in whole or in part, at any time at the option of the holder into shares of Common Stock. The conversion price is $7.00 per share. The conversion price and number of Common Shares issuable upon conversion of the Debentures will be adjusted under standard antidilution provisions, including for issuances of shares of Common Stock or Common Stock equivalents below the conversion price or current market price of the Common Stock. Item 5. Ownership of Five Percent or Less of a Class Inapplicable Item 6. Ownership of More than Five Percent on Behalf of Another Person Inapplicable Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company See Item 2 above. Item 8. Identification and Classification of Members of the Group See Item 2 above. Item 9. Notice of Dissolution of Group Inapplicable 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 of effect. SIGNATURE 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 this 14th day of February, 2003 Smithfield Fiduciary LLC By: /s/ Howard Feitelberg ------------------------------------- Howard Feitelberg, Director Highbridge International LLC By: /s/ Howard Feitelberg ------------------------------------- Howard Feitelberg, Director Highbridge Capital Corporation By: /s/ Howard Feitelberg ------------------------------------- Howard Feitelberg, Controller Highbridge Capital Management, LLC By: /s/ Ronald S. Resnick ------------------------------------- Ronald S. Resnick, Managing Director Exhibit Index ------------- Exhibit Description ------- ----------- 1 Joint Filing Agreement EX-1 3 ex-99.txt JOINT FILING AGREEMENT Exhibit 1 JOINT FILING AGREEMENT In accordance with Rule 13d-1(k) (1) (iii) under the Securities Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of each of them of a Statement on Schedule 13G/A dated (including amendments thereto) with respect to the common stock of Mutual Risk Management Ltd. This Joint Filing Agreement shall be filed as an Exhibit to such Statement. Dated: February 14, 2003 Smithfield Fiduciary LLC By: /s/ Howard Feitelberg ------------------------------------- Howard Feitelberg, Director Highbridge International LLC By: /s/ Howard Feitelberg ------------------------------------- Howard Feitelberg, Director Highbridge Capital Corporation By: /s/ Howard Feitelberg ------------------------------------- Howard Feitelberg, Controller Highbridge Capital Management, LLC By: /s/ Ronald S. Resnick ------------------------------------- Ronald S. Resnick, Managing Director -----END PRIVACY-ENHANCED MESSAGE-----