SC 13D 1 0001.txt SC 13D SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13D Under the Securities Exchange Act of 1934 (Amendment No. ____)* Southwestern Life Holdings, Inc. -------------------------------------------------------------------- (Name of Issuer) Common Stock ---------------------------------- (Title of Class of Securities) 845606 10 2 ------------------------------------------------------------ (CUSIP Number) Copy to: Paul Chute James L. Learner, P.C. Brown's Dock, L.L.C. Kirkland & Ellis 56 Prospect St. 200 E. Randolph Drive Hartford, Connecticut 06115 Chicago, Illinois 60601 (860) 403-5594 (312) 861-2000 -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) June 13, 2000 ----------------------------------------------------------- (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(b)(3) or (4), check the following box [_]. Note: Six copies of this statement, including all exhibits, should be filed with the Commission. See Rule 13d-1(a) 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 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 ("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). (Continued on following pages) Page 1 of 25 Pages ----------------------- -------------------- CUSIP No. 845606 10 2 13D Page 2 of 25 Pages ----------------------- -------------------- ------------------------------------------------------------------------------ NAME OF REPORTING PERSON 1 Brown's Dock, L.L.C. ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2 (a) [X] (b) [_] ------------------------------------------------------------------------------ SEC USE ONLY 3 ------------------------------------------------------------------------------ SOURCE OF FUNDS* 4 Not Applicable ------------------------------------------------------------------------------ CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [_] 5 ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 Delaware ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF 0 SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 2,798,963 shares of Common Stock OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING 0 PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 2,798,963 shares of Common Stock ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 2,798,963 shares of Common Stock ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* 12 [_] ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 30.9% of Common Stock and common stock equivalents ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON* 14 OO ------------------------------------------------------------------------------ *SEE INSTRUCTIONS BEFORE FILLING OUT! ----------------------- -------------------- CUSIP No. 845606 10 2 13D Page 3 of 25 Pages ----------------------- -------------------- ------------------------------------------------------------------------------ NAME OF REPORTING PERSON 1 Phoenix Home Life Mutual Insurance Company ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2 (a) [X] (b) [_] ------------------------------------------------------------------------------ SEC USE ONLY 3 ------------------------------------------------------------------------------ SOURCE OF FUNDS* 4 Not Applicable ------------------------------------------------------------------------------ CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [_] 5 ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 New York ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF 0 SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 2,798,963 shares of Common Stock OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING 0 PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 2,798,963 shares of Common Stock ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 2,798,963 shares of Common Stock ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* 12 [_] ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 30.9% of Common Stock and common stock equivalents ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON* 14 IC ------------------------------------------------------------------------------ *SEE INSTRUCTIONS BEFORE FILLING OUT! ----------------------- -------------------- CUSIP No. 845606 10 2 13D Page 4 of 25 Pages ----------------------- -------------------- ------------------------------------------------------------------------------ NAME OF REPORTING PERSON 1 Phoenix Investment Partners, Ltd. ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2 (a) [X] (b) [_] ------------------------------------------------------------------------------ SEC USE ONLY 3 ------------------------------------------------------------------------------ SOURCE OF FUNDS* 4 OO ------------------------------------------------------------------------------ CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [_] 5 ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 Delaware ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF 0 SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 2,798,963 shares of Common Stock OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING 0 PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 2,798,963 shares of Common Stock ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 2,798,963 shares of Common Stock ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* 12 [_] ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 30.9% of Common Stock and common stock equivalents ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON* 14 IA ------------------------------------------------------------------------------ *SEE INSTRUCTIONS BEFORE FILLING OUT! ----------------------- -------------------- CUSIP No. 845606 10 2 13D Page 5 of 25 Pages ----------------------- -------------------- ------------------------------------------------------------------------------ NAME OF REPORTING PERSON 1 Inverness Management Fund I LLC ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2 (a) [X] (b) [_] ------------------------------------------------------------------------------ SEC USE ONLY 3 ------------------------------------------------------------------------------ SOURCE OF FUNDS* 4 Not Applicable ------------------------------------------------------------------------------ CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [_] 5 ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 Delaware ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF 0 SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 2,798,963 shares of Common Stock OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING 0 PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 2,798,963 shares of Common Stock ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 2,798,963 shares of Common Stock ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* 12 [_] ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 30.9% of Common Stock and common stock equivalents ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON* 14 OO ------------------------------------------------------------------------------ *SEE INSTRUCTIONS BEFORE FILLING OUT! ----------------------- -------------------- CUSIP No. 845606 10 2 13D Page 6 of 25 Pages ----------------------- -------------------- ------------------------------------------------------------------------------ NAME OF REPORTING PERSON 1 WMD LLC ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2 (a) [X] (b) [_] ------------------------------------------------------------------------------ SEC USE ONLY 3 ------------------------------------------------------------------------------ SOURCE OF FUNDS* 4 Not Applicable ------------------------------------------------------------------------------ CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [_] 5 ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 Delaware ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF 0 SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 2,798,963 shares of Common Stock OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING 0 PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 2,798,963 shares of Common Stock ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 2,798,963 shares of Common Stock ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* 12 [_] ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 30.9% of Common Stock and common stock equivalents ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON* 14 OO ------------------------------------------------------------------------------ *SEE INSTRUCTIONS BEFORE FILLING OUT! ----------------------- -------------------- CUSIP No. 845606 10 2 13D Page 7 of 25 Pages ----------------------- -------------------- ------------------------------------------------------------------------------ NAME OF REPORTING PERSON 1 J.C. Comis LLC ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2 (a) [X] (b) [_] ------------------------------------------------------------------------------ SEC USE ONLY 3 ------------------------------------------------------------------------------ SOURCE OF FUNDS* 4 Not Applicable ------------------------------------------------------------------------------ CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [_] 5 ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 Delaware ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF 0 SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 2,798,963 shares of Common Stock OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING 0 PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 2,798,963 shares of Common Stock ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 2,798,963 shares of Common Stock ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* 12 [_] ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 30.9% of Common Stock and common stock equivalents ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON* 14 OO ------------------------------------------------------------------------------ *SEE INSTRUCTIONS BEFORE FILLING OUT! ----------------------- -------------------- CUSIP No. 845606 10 2 13D Page 8 of 25 Pages ----------------------- -------------------- ------------------------------------------------------------------------------ NAME OF REPORTING PERSON 1 W. McComb Dunwoody ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2 (a) [X] (b) [_] ------------------------------------------------------------------------------ SEC USE ONLY 3 ------------------------------------------------------------------------------ SOURCE OF FUNDS* 4 Not Applicable ------------------------------------------------------------------------------ CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [_] 5 ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 United States ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF 0 SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 2,798,963 shares of Common Stock OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING 0 PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 2,798,963 shares of Common Stock ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 2,798,963 shares of Common Stock ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* 12 [_] ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 30.9% of Common Stock and common stock equivalents ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON* 14 IN ------------------------------------------------------------------------------ *SEE INSTRUCTIONS BEFORE FILLING OUT! ----------------------- -------------------- CUSIP No. 845606 10 2 13D Page 9 of 25 Pages ----------------------- -------------------- ------------------------------------------------------------------------------ NAME OF REPORTING PERSON 1 James C. Comis, III ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2 (a) [X] (b) [_] ------------------------------------------------------------------------------ SEC USE ONLY 3 ------------------------------------------------------------------------------ SOURCE OF FUNDS* 4 Not Applicable ------------------------------------------------------------------------------ CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [_] 5 ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 United States ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF 0 SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 2,798,963 shares of Common Stock OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING 0 PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 2,798,963 shares of Common Stock ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 2,798,963 shares of Common Stock ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* 12 [_] ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 30.9% of Common Stock and common stock equivalents ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON* 14 IN ------------------------------------------------------------------------------ *SEE INSTRUCTIONS BEFORE FILLING OUT! ----------------------- --------------------- CUSIP No. 845606 10 2 13D Page 10 of 25 Pages ----------------------- --------------------- ------------------------------------------------------------------------------ NAME OF REPORTING PERSON 1 Inverness/Phoenix Partners LP ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2 (a) [X] (b) [_] ------------------------------------------------------------------------------ SEC USE ONLY 3 ------------------------------------------------------------------------------ SOURCE OF FUNDS* 4 Not Applicable ------------------------------------------------------------------------------ CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [_] 5 ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 Delaware ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF 0 SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 2,798,963 shares of Common Stock OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING 0 PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 2,798,963 shares of Common Stock ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 2,798,963 shares of Common Stock ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* 12 [_] ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 30.9% of Common Stock and common stock equivalents ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON* 14 PN ------------------------------------------------------------------------------ *SEE INSTRUCTIONS BEFORE FILLING OUT! ----------------------- --------------------- CUSIP No. 845606 10 2 13D Page 11 of 25 Pages ----------------------- --------------------- ------------------------------------------------------------------------------ NAME OF REPORTING PERSON 1 Executive Capital Partners I LP ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2 (a) [X] (b) [_] ------------------------------------------------------------------------------ SEC USE ONLY 3 ------------------------------------------------------------------------------ SOURCE OF FUNDS* 4 Not Applicable ------------------------------------------------------------------------------ CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [_] 5 ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 Delaware ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF 0 SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 2,798,963 shares of Common Stock OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING 0 PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 2,798,963 shares of Common Stock ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 2,798,963 shares of Common Stock ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* 12 [_] ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 30.9% of Common Stock and common stock equivalents ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON* 14 PN ------------------------------------------------------------------------------ *SEE INSTRUCTIONS BEFORE FILLING OUT! ----------------------- --------------------- CUSIP No. 845606 10 2 13D Page 12 of 25 Pages ----------------------- --------------------- ------------------------------------------------------------------------------ NAME OF REPORTING PERSON 1 Inverness/Phoenix Capital LLC ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2 (a) [X] (b) [_] ------------------------------------------------------------------------------ SEC USE ONLY 3 ------------------------------------------------------------------------------ SOURCE OF FUNDS* 4 Not Applicable ------------------------------------------------------------------------------ CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [_] 5 ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 Delaware ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF 0 SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 2,798,963 shares of Common Stock OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING 0 PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 2,798,963 shares of Common Stock ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 2,798,963 shares of Common Stock ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* 12 [_] ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 30.9% of Common Stock and common stock equivalents ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON* 14 OO ------------------------------------------------------------------------------ *SEE INSTRUCTIONS BEFORE FILLING OUT! ----------------------- --------------------- CUSIP No. 845606 10 2 13D Page 13 of 25 Pages ----------------------- --------------------- ------------------------------------------------------------------------------ NAME OF REPORTING PERSON 1 DCPM Holdings, Inc. ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2 (a) [X] (b) [_] ------------------------------------------------------------------------------ SEC USE ONLY 3 ------------------------------------------------------------------------------ SOURCE OF FUNDS* 4 Not Applicable ------------------------------------------------------------------------------ CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [_] 5 ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 Illinois ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF 0 SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 2,798,963 shares of Common Stock OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING 0 PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 2,798,963 shares of Common Stock ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 2,798,963 shares of Common Stock ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* 12 [_] ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 30.9% of Common Stock and common stock equivalents ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON* 14 CO ------------------------------------------------------------------------------ *SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D ------------ Item 1. Security and Issuer. The name of the issuer is Southwestern Life Holdings, Inc. (f/k/a PennCorp Financial Group, Inc.) (the "Issuer"). The address of the Issuer's offices is 717 North Harwood Street, Dallas, Texas 75201. This Schedule 13D Statement (this "Statement") relates to the Issuer's Common Stock, par value $.01 (the "Common Stock"). Item 2. Identity and Background. This Statement is being filed by each of the following persons pursuant to Rule 13d-1(f) promulgated by the Securities and Exchange Commission (the "Commission") pursuant to Section 13 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"): (i) Brown's Dock, L.L.C., a Delaware limited liability company ("Brown's Dock"), by virtue of its direct beneficial ownership of shares of Common Stock covered by this Statement; (ii) the Fund, by virtue of its direct beneficial ownership of shares of Common Stock covered by this Statement; (iii) the Executive Fund, by virtue of its direct beneficial ownership of shares of Common Stock covered by this Statement; (iv) Inverness/ Phoenix Capital LLC, a Delaware limited liability company (the "General Partner"), by virtue of its being the general partner of the Fund and its being general partner of the Executive Fund; (v) DCPM Holdings, Inc., an Illinois corporation ("DCPM"), by virtue of its being a member of the General Partner; (vi) Phoenix Home Life Mutual Insurance Company, a New York mutual life insurance company ("Phoenix"), by virtue of its being a member of Brown's Dock; (vii) Phoenix Investment Partners, Ltd., a Delaware limited partnership ("PXP"), by virtue of its being a member of Brown's Dock and its ownership of all of the outstanding stock of DCPM; (viii) Inverness Management Fund I LLC, a Delaware limited liability company, ("Inverness"), by virtue of its being a member of Brown's Dock and its being a member of the General Partner; (ix) WMD LLC, a Delaware limited liability company ("WMD"), by virtue of its being a controlling member of Inverness; (x) W. McComb Dunwoody, an individual resident of the State of Connecticut ("Dunwoody"), by virtue of his being a controlling member of WMD; (xi) J.C. Comis LLC, a Delaware limited liability company ("JCC"), by virtue of its being a controlling member of Inverness; and (xii) James C. Comis III, an individual resident of the State of New Jersey ("Comis"), by virtue of his being a controlling member of JCC. Brown's Dock, the Fund, the Executive Fund, DCPM, Phoenix, PXP, Inverness, WMD, JCC, Dunwoody and Comis are sometimes referred to herein individually as a "Reporting Person" and collectively as the "Reporting Persons." The Reporting Persons may be deemed to constitute a "group" for purposes of Section 13(d)(3) of the Act. The Fund, the Executive Fund, the General Partner, Inverness, WMD, JCC, Dunwoody and Comis are sometimes referred to herein collectively as the "Inverness Persons." Information with respect to each of the Reporting Persons is given solely by such Reporting Person, and no Reporting Person assumes responsibility for the accuracy or completeness of Page 14 of 25 Pages information given by another Reporting Person. By their signature on this Statement, each of the Reporting Persons agrees that this Statement is filed on behalf of such Reporting Person. Certain information required by this Item 2 concerning the directors and executive officers of Phoenix, PXP and DCPM is set forth on Schedule A attached hereto, which is incorporated herein by reference. Brown's Dock is a holding company that was formed to invest in the Issuer. The address of the principal business and principal office of Brown's Dock is 56 Prospect St., Hartford, Connecticut 06115. Phoenix is a mutual insurance company in the business of life and health insurance and annuities. The address of the principal business and principal office of Phoenix is One American Row, Hartford, Connecticut 06115. PXP is a registered investment advisor and owner of other affiliated investment advisors. The address of the principal business and principal office of PXP is 56 Prospect St., Hartford, Connecticut 06115. DCPM, formerly known as Duff & Phelps Capital Markets, Inc., is a wholly-owned subsidiary of PXP and its sole asset and interest is the Fund. The address of the principal business and principal office of DCPM is 56 Prospect St., Hartford, Connecticut 06115. The principal business of each of the Inverness Persons is to make investments in common and preferred stock and other interests in business organizations, domestic or foreign, with the principal objective of appreciation of capital invested. The address of the principal business and principal office of each of the Inverness Entities is c/o Inverness Management I LLC, 660 Steamboat Road, Greenwich, Connecticut 06830. During the past five years, none of the Reporting Persons nor, to the best knowledge of the Reporting Persons, any of the persons listed on Schedule A attached hereto, has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). During the past five years, none of the Reporting Persons was a party to a civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which such person was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activity subject to, federal or state securities laws or finding any violation with respect to such laws. Item 3. Source and Amount of Funds or Other Consideration. On June 13, 2000, the Issuer consummated its Plan of Reorganization under chapter 11 (the "Plan"). Under the Plan, (i) Brown's Dock received 530,257 shares of Common Stock in exchange for shares of the Issuer's $3.375 Convertible Preferred Stock (the "Series I Preferred") held by Brown's Dock, (ii) the Fund received 1,007,789 shares of Common Stock in exchange for shares of the Series I Preferred and shares of the Issuer's $3.50 Series II Convertible Preferred Stock (the "Series II Preferred" and together with the Series I Preferred, the "Preferred Stock") held by the Fund, Page 15 of 25 Pages and (iii) the Executive Fund received 33,354 of Common Stock in exchange for shares of the Series I Preferred and shares of the Series II Preferred held by the Executive Fund. All shares of Preferred Stock held by the Reporting Persons were canceled under the Plan. In connection with the Plan, the Issuer issued rights (the "Rights") to purchase Common Stock to holders of the Issuer's Preferred Stock (the "Rights Offering"), including Brown's Dock, the Fund and the Executive Fund. The Fund has acquired 381,649 shares of Common Stock and the Executive Fund has acquired 12,631 shares of Common Stock upon exercise of Rights for a net investment cost of $4,770,612.50 and $157,887.50, respectively. In addition, the Fund and the Executive Fund have acquired 805,480 shares of Common Stock and 27,803 shares of Common Stock, respectively, for a net investment cost of $10,068,500 and $347,537.50, respectively, pursuant to a Standby Purchase Agreement, dated March 22, 2000, pursuant to which the Fund and the Executive Fund, through the General Partner, agreed to purchase Common Stock not otherwise acquired by holders of Preferred Stock under the Rights Offering. The Fund and the Executive Fund utilized internal funds to acquire the Common Stock. Item 4. Purpose of Transaction. Each of Brown's Dock, the Fund and the Executive Fund acquired and continues to hold the shares of the Common Stock reported herein for investment purposes. Depending on market conditions and other factors that any of Brown's Dock, the Fund and the Executive Fund may deem material to its investment decision, each of Brown's Dock, the Fund and the Executive Fund may purchase additional shares of the Common Stock or other securities of the Issuer in the open market or in private transactions. Depending on these same factors, each of Brown's Dock, the Fund and the Executive Fund may sell all or a portion of the shares of the Common Stock that it now owns or hereafter may acquire on the open market or in private transactions. Item 5. Interest in Securities of the Issuer. At the close of business on June 13, 2000, (i) Brown's Dock had direct beneficial ownership of 530,257 shares of Common Stock, (ii) the Fund had direct beneficial ownership of 2,194,918 shares of Common Stock and (iii) the Executive Fund had direct beneficial ownership of 73,788 shares of Common Stock. The Reporting Persons constitute a "group" for purposes of Section 13(d)(3) of the Act, and therefore, each Reporting Person is deemed to have beneficial ownership of 2,798,963 shares of Common Stock (the "Shares") and such ownership represents 30.9% of the Common Stock and common stock equivalents issued and outstanding as of June 13, 2000. As of June 23, 2000, Phoenix, PXP and Inverness own all of the outstanding equity interests of Brown's Dock and, as such, exercise control over Brown's Dock. Consequently, by virtue of the exercise of such control, each of Phoenix, PXP and Inverness may be deemed to possess indirect beneficial ownership of the Shares. By virtue of the relationship between each of the Fund and the Executive Fund and the General Partner described in Item 2, the General Partner may be deemed Page 16 of 25 Pages to possess indirect beneficial ownership of the Shares beneficially owned by the Fund and the Executive Fund. By virtue of the relationship between the General Partner and each of DCPM and Inverness described in Item 2, each of DCPM and Inverness may be deemed to possess indirect beneficial ownership of the Shares beneficially owned by the General Partner. By virtue of the relationship between Inverness and each of WMD and JCC described in Item 2, each of WMD and JCC may be deemed to possess indirect beneficial ownership of the Shares beneficially owned by Inverness. By virtue of the relationship between WMD and Dunwoody described in Item 2, Dunwoody may be deemed to possess indirect beneficial ownership of the Shares beneficially owned by WCC, and, by virtue of the relationship between JCC and Comis, described in Item 2, Comis may be deemed to possess indirect beneficial ownership of the Shares beneficially owned by the JCC. All such ownership percentages of the Common Stock reported herein are based on the representation of the Issuer to the Reporting Persons that, as of June 13, 2000, there were 9,059,000 shares of Common Stock issued and outstanding and reported herein to the best knowledge and belief of the Reporting Persons. Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer. Reference is made to the information disclosed under Items 3, 3 and 4 of this Statement which is incorporated by reference in response to this Item. Item 7. Materials to be Filed as Exhibits. Exhibit A: Agreement of Joint Filing, dated as of June 23, 2000, among Brown's Dock, the Fund, Executive Fund, the General Partner, Phoenix, PXP, Inverness, DCPM, WMD, JCC, Dunwoody and Comis. Exhibit B: Power of Attorney dated June 22, 2000 Page 17 of 25 Pages 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. Date: June 23, 2000 BROWN'S DOCK, L.L.C. INVERNESS/PHOENIX PARTNERS LP EXECUTIVE CAPITAL PARTNERS I LP INVERNESS/PHOENIX CAPITAL LLC DCPM HOLDINGS, INC. PHOENIX HOME LIFE MUTUAL INSURANCE COMPANY PHOENIX INVESTMENT PARTNERS, LTD. INVERNESS MANAGEMENT FUND I LLC WMD LLC J.C. COMIS LLC W. McComb Dunwoody James C. Comis III By: /s/ James L. Leaner, P.C. ------------------------------------ Name: James L. Leaner, P.C. Title: Attorney-in-Fact (Pursuant to a Power of Attorney filed with the Commission) Page 18 of 25 Pages SCHEDULE A The following table sets forth the names, addresses and principal occupations of the directors and executive officers of Phoenix Home Life Mutual Insurance Company ("Phoenix"). Each such person is a citizen of the United States. DIRECTORS ---------
--------------------------------------------------------------------------------------------- NAME ADDRESS PRINCIPAL OCCUPATION --------------------------------------------------------------------------------------------- Sal H. Alfiero 9 Four Winds Way Chairman & CEO, Amherst, NY 14426 Mark IV Industries, Inc. --------------------------------------------------------------------------------------------- J. Carter Bacot 48 Porter Place Chairman & CEO, Montclair, NJ 07042 The Bank of New York --------------------------------------------------------------------------------------------- Arthur P. Byrne 85 Bishop Lane President, CEO & Chairman, Avon, CT 06001 The Wiremold Company --------------------------------------------------------------------------------------------- Richard N. Cooper 33 Washington Avenue Professor, Cambridge, MA 02140 Center for International Affairs, Harvard University --------------------------------------------------------------------------------------------- Gordon J. Davis 241 Central Park West Partner, New York, NY 10024 LeBoeuf, Lamb, Greene & MacRae --------------------------------------------------------------------------------------------- Robert W. Fiondella 29 Summerberry Circle Chairman & CEO, Bristol, CT 06010 Phoenix Home Life Mutual Insurance Company --------------------------------------------------------------------------------------------- John E. Haine 12 Scarles Road President, Darien, CT 06820 The Fortune Group --------------------------------------------------------------------------------------------- Jerry J. Jasinowski 3288 Rittenhouse Street, N.W. President, Washington, DC 20015 National Association of Manufacturers --------------------------------------------------------------------------------------------- John W. Johnstone 467 Carter Street Chairman of the Board, New Canaan, CT 06840 Olin Corporation --------------------------------------------------------------------------------------------- Marilyn E. LaMarche 930 Fifth Avenue, Apt. 10D Limited Managing Director New York, NY 10021 Lazard Freres & Co., L.L.C. ---------------------------------------------------------------------------------------------
Page 19 of 25 Pages ---------------------------------------------------------------------------- Philip R. McLoughlin 39 Joshua Drive Executive Vice-President, West Simsbury, CT 06092 Phoenix Home Life Mutual Insurance Company ---------------------------------------------------------------------------- Robert F. Vizza 3 Maria Lane President & CEO Old Brookville, NY The DeMalteis Center of St. Francis Hospital ---------------------------------------------------------------------------- Robert G. Wilson Key Colony III Retired Apt. 1127 151 Crandon Boulevard Key Biscayne, FL 33149 ---------------------------------------------------------------------------- Dona D. Young 89 Woodford Hills Drive President, Avon, CT 06001 Phoenix Home Life Mutual Insurance Company ---------------------------------------------------------------------------- OFFICERS ---------------------------------------------------------------------------- NAME ADDRESS PRINCIPAL OCCUPATION ---------------------------------------------------------------------------- Carl T. Chadbum 252 Knollwood Road Executive Vice-President Manchester, CT ---------------------------------------------------------------------------- Robert W. Fiondella 29 Summerberry Circle Chairman & Chief Executive Bristol, CT 06010 Officer ---------------------------------------------------------------------------- Philip R. McLoughlin 39 Joshua Drive Executive Vice-President West Simsbury, CT 06092 ---------------------------------------------------------------------------- David W. Searfoss 3 Stratford Road Executive Vice-President Farmington, CT 06032 ---------------------------------------------------------------------------- Dona D. Young 89 Woodford Hills Drive President Avon, CT 06001 ---------------------------------------------------------------------------- Edward P. Hourihan 17 Chesbro Avenue Senior Vice-President Noank, CT 06266 ---------------------------------------------------------------------------- Joseph E. Kelleher 6 Spruce Lane Senior Vice-President Simsbury, CT 06070 ---------------------------------------------------------------------------- Robert G. Lautensack 21 Stillwood Chase Senior Vice-President Simsbury, CT 06070 ----------------------------------------------------------------------------
Page 20 of 25 Pages ---------------------------------------------------------------------------- Maura L. Melley 16 Old Oak Road Senior Vice-President West Hartford, CT 06117 ---------------------------------------------------------------------------- Robert E. Primmer 47 Wyngate Senior Vice-President Simsbury, CT 06070 ---------------------------------------------------------------------------- Simon Y. Tan 169 Weir Street Senior Vice-President Glastonbury, CT 06033 ---------------------------------------------------------------------------- Walter H. Zultowski 6 Winhart Drive Senior Vice-President Granby, CT 06035 ---------------------------------------------------------------------------- Nathaniel C. Brinn 7 St. Andrews Drive Senior Vice-President Avon, CT 06001 ---------------------------------------------------------------------------- Michael J. Gilotti 46 Meadow Ridge Senior Vice-President Avon, CT 06001 ---------------------------------------------------------------------------- Charles L. Olson 10 Tallwood Lane Senior Vice-President Simsbury, CT 06089 ---------------------------------------------------------------------------- Richard R. Paton 394 Geraldine Drive Senior Vice-President Coventry, CT 06236 ---------------------------------------------------------------------------- Tracy L. Rich 65 Noah Farms Road Senior Vice-President Avon, CT 06001 ---------------------------------------------------------------------------- John F. Solan, Jr. 11 Schuyler Lane Senior Vice-President Bloomfield, CT 06002 ----------------------------------------------------------------------------
Page 21 of 25 Pages SCHEDULE A (continued) The following table sets forth the names, addresses and principal occupations of the directors and executive officers of Phoenix Investments Partners, Ltd. ("PXP"). Each such person is a citizen of the United States. DIRECTORS ---------
--------------------------------------------------------------------------------- NAME ADDRESS PRINCIPAL OCCUPATION -------------------------------------------------------------------------------- John T. Anderson Pine Boughs Cottage Attorney P.O. Box 4133 The Epworth Assembly Ludington, MI 49431 --------------------------------------------------------------------------------- Clyde E. Bartter 440 Old Reservoir Road President, Duff & Phelps Berra, OH 44017 Investment Management Co. --------------------------------------------------------------------------------- Richard H. Booth 60 High Ridge Road Executive Vice- South Glastonbury, CT President, Phoenix Home Life 06073 Mutual Insurance Company --------------------------------------------------------------------------------- Glen D. Churchill 33 Tamarisk Circle Retired Abilene, TX 79606 --------------------------------------------------------------------------------- Robert W. Fiondella 29 Summerberry Circle Chairman of the Board and Bristol, CT 06010 Chief Executive Officer, Phoenix Home Life Mutual Insurance Company --------------------------------------------------------------------------------- Michael E. Haylon 26 Clark Drive Executive Vice-President, West Hartford, CT 06117 Phoenix Investment Partners, Ltd. --------------------------------------------------------------------------------- Marilyn E. LaMarche 930 Fifth Avenue Limited Managing Director, Apartment 10D Lazard Freres & Company, New York, NY 10020 L.L.C. --------------------------------------------------------------------------------- Edward P. Lyons 5 Londonderry Drive Retired Greenwich, CT 06830 --------------------------------------------------------------------------------- Philip R. McLoughlin 39 Joshua Drive Chairman of the Board and West Simsbury, CT 06092 Chief Executive Officer, Phoenix Investment Partners ---------------------------------------------------------------------------------
Page 22 of 25 Pages
------------------------------------------------------------------------------- James M. Oates 51 Spooner Road Chairman, IBEX Capital Chestnut Hill, MA 02167 Markets, L.L.C. and Managing Director of the Wydown ------------------------------------------------------------------------------- Calvin J. Pedersen 307 King Street President, Phoenix Investment Yorkville, IL 60560 Partners, Ltd. ------------------------------------------------------------------------------- Donna F. Tuttle 12733 Parkyns Street President, Korn Tuttle Capital Los Angeles, CA 90049 Group ------------------------------------------------------------------------------- Ferdinand L.J. Verdonck Nederpolder 7 Managing Director, Almanij B-9000 Gent N.V. Belgium ------------------------------------------------------------------------------- David A. Williams Roxborough Holdings President, Roxborough Limited 90 Holdings, Inc. Roxborough Street East Toronto, Ontario M4W 1V8 Canada ------------------------------------------------------------------------------- OFFICERS -------- ------------------------------------------------------------------------------- NAME ADDRESS PRINCIPAL OCCUPATION ---- ------- -------------------- ------------------------------------------------------------------------------- Philip R. McLoughlin 56 Prospect Street Chairman and CEO P.O. Box 150480 Hartford, CT 06115 ------------------------------------------------------------------------------- Calvin J. Pedersen 56 Prospect Street President P.O. Box 150480 Hartford, CT 06115 ------------------------------------------------------------------------------- Michael E. Haylon 56 Prospect Street Executive Vice-President P.O. Box 150480 Hartford, CT 06115 ------------------------------------------------------------------------------- John F. Sharry 56 Prospect Street Executive Vice-President, P.O. Box 150480 Retail Division Hartford, CT 06115 ------------------------------------------------------------------------------- William R. Moyer 56 Prospect Street Senior Vice-President and P.O. Box 150480 Chief Financial Officer Hartford, CT 06115 -------------------------------------------------------------------------------
Page 23 of 25 Pages
------------------------------------------------------------------------------- Thomas N. Steenburg 56 Prospect Street Vice-President and Counsel P.O. Box 150480 Hartford, CT 06115 ------------------------------------------------------------------------------- Elizabeth R. Sadowinski 56 Prospect Street Vice-President, Administration P.O. Box 150480 Hartford, CT 06115 -------------------------------------------------------------------------------
Page 24 of 25 Pages Schedule A (continued) ---------------------- The following table sets forth the names, addresses and principal occupations of the directors and executive officers of DCPM Holdings, Inc. ("DCPM"). Each such person is a citizen of the United States.
DIRECTORS --------- ------------------------------------------------------------------------------- NAME ADDRESS PRINCIPAL OCCUPATION ---- ------- -------------------- -------------------------------------------------------------------------------- Phil McLoughlin 56 Prospect St., Executive Officer, Phoenix Hartford, Connecticut 06115 Investment Partners, Ltd. -------------------------------------------------------------------------------- OFFICERS -------- -------------------------------------------------------------------------------- NAME ADDRESS PRINCIPAL OCCUPATION ---- ------- -------------------- -------------------------------------------------------------------------------- Phil McLoughlin 56 Prospect St., President Hartford, Connecticut 06115 -------------------------------------------------------------------------------- Bill Moyer 56 Prospect St., Senior Vice-President Hartford, Connecticut 06115 -------------------------------------------------------------------------------- Paul Chute 56 Prospect St., Vice-President, Counsel and Hartford, Connecticut 06115 Secretary --------------------------------------------------------------------------------
Page 25 of 25 Pages