The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
BBX CAP CORP CL A PAR $0.01 05540P100 12,764 799,778 SH   SOLE   799,778 0 0
COSI INC COM NEW 22122P200 3,789 4,457,875 SH   SOLE   4,457,875 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 22,126 200,000 SH Put SOLE   200,000 0 0
J G WENTWORTH CO CL A 46618D108 3,476 2,849,164 SH   SOLE   2,849,164 0 0
NEW MEDIA INVT GROUP INC COM 64704V106 13,883 834,322 SH   SOLE   834,322 0 0
OVERSEAS SHIPHOLDING GROUP I COM CL A 69036R301 470 250,100 SH   SOLE   250,100 0 0
RENTECH INC COM NEW 760112201 554 249,709 SH   SOLE   249,709 0 0
RENTECH NITROGEN PARTNERS L COM UNIT 760113100 2,891 253,400 SH   SOLE   253,400 0 0
WMIH CORP COM 92936P100 6,966 2,977,042 SH   SOLE   2,977,042 0 0