-----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, WkyYmBmXev3sMnG1vwhzRaVsP/dGpPC3LQVbS8rVswHJcQqmMTQFxn9GWIlnTqM1 BtKrOmeNob2Hp/dKvBk+Zw== 0000902664-07-000847.txt : 20070214 0000902664-07-000847.hdr.sgml : 20070214 20070214113916 ACCESSION NUMBER: 0000902664-07-000847 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20070214 DATE AS OF CHANGE: 20070214 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Quintana Maritime LTD CENTRAL INDEX KEY: 0001325098 STANDARD INDUSTRIAL CLASSIFICATION: DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412] IRS NUMBER: 000000000 STATE OF INCORPORATION: 1T FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-81159 FILM NUMBER: 07615901 BUSINESS ADDRESS: STREET 1: PANDORAS 13 & KYPROU STREET CITY: GLYFADA STATE: J3 ZIP: 166 74 BUSINESS PHONE: 011-30-210-898-5056 MAIL ADDRESS: STREET 1: PANDORAS 13 & KYPROU STREET CITY: GLYFADA STATE: J3 ZIP: 166 74 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: KING STREET CAPITAL MGMT LLC CENTRAL INDEX KEY: 0001218199 IRS NUMBER: 133978904 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 65 EAST 55TH STREET STREET 2: 30TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 212-812-3100 MAIL ADDRESS: STREET 1: 65 EAST 55TH STREET STREET 2: 30TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 SC 13G/A 1 sc13ga.txt QUINTANA MARITIME LTD. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G/A Under the Securities Exchange Act of 1934 (Amendment No. 1)* Quintana Maritime Limited (Name of Issuer) Common Stock, Par Value $0.01 Per Share (Title of Class of Securities) Y7169G109 (CUSIP Number) December 31, 2006 (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) [ ] Rule 13d-1(c) [X] 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. Y716G109 SC 13G/A Page 2 of 15 - -------------------------------------------------------------------------------- (1) NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) King Street Acquisition Company, L.L.C. 84-1634281 - -------------------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [x] - -------------------------------------------------------------------------------- (3) SEC USE ONLY - -------------------------------------------------------------------------------- (4) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- NUMBER OF (5) SOLE VOTING POWER 0 SHARES _________________________________________________________________ BENEFICIALLY (6) SHARED VOTING POWER 0 OWNED BY _________________________________________________________________ EACH (7) SOLE DISPOSITIVE POWER 0 REPORTING _________________________________________________________________ PERSON WITH (8) SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 - -------------------------------------------------------------------------------- (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] - -------------------------------------------------------------------------------- (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0 - -------------------------------------------------------------------------------- (12) TYPE OF REPORTING PERSON OO - -------------------------------------------------------------------------------- CUSIP No. Y716G109 SC 13G/A Page 3 of 15 - -------------------------------------------------------------------------------- (1) NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) King Street Capital, L.P. 13-38-12174 - -------------------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [x] - -------------------------------------------------------------------------------- (3) SEC USE ONLY - -------------------------------------------------------------------------------- (4) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- NUMBER OF (5) SOLE VOTING POWER 0 SHARES _________________________________________________________________ BENEFICIALLY (6) SHARED VOTING POWER 1,333,302* OWNED BY _________________________________________________________________ EACH (7) SOLE DISPOSITIVE POWER 0 REPORTING _________________________________________________________________ PERSON WITH (8) SHARED DISPOSITIVE POWER 1,333,302* - -------------------------------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,333,302* - -------------------------------------------------------------------------------- (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] - -------------------------------------------------------------------------------- (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 2.6%^ - -------------------------------------------------------------------------------- (12) TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- * Includes Warrants exercisable for 400,757 shares of Common Stock. ^ Calculated based on 50,166,690 shares of Common Stock outstanding as of October 31, 2006 (as reported in the Issuer's Form 10-Q filed under the Securities Exchange Act of 1934, on November 9, 2006), plus 400,757 shares of Common Stock issuable upon exercise of Warrants which were beneficially owned by the reporting person and included pursuant to Rule 13d-3(d)(1)(i). CUSIP No. Y716G109 SC 13G/A Page 4 of 15 - -------------------------------------------------------------------------------- (1) NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) King Street Capital, Ltd. - -------------------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [x] - -------------------------------------------------------------------------------- (3) SEC USE ONLY - -------------------------------------------------------------------------------- (4) CITIZENSHIP OR PLACE OF ORGANIZATION British Virgin Islands - -------------------------------------------------------------------------------- NUMBER OF (5) SOLE VOTING POWER 0 SHARES _________________________________________________________________ BENEFICIALLY (6) SHARED VOTING POWER 2,721,713* OWNED BY _________________________________________________________________ EACH (7) SOLE DISPOSITIVE POWER 0 REPORTING _________________________________________________________________ PERSON WITH (8) SHARED DISPOSITIVE POWER 2,721,713* - -------------------------------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,721,713* - -------------------------------------------------------------------------------- (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] - -------------------------------------------------------------------------------- (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.3%^ - -------------------------------------------------------------------------------- (12) TYPE OF REPORTING PERSON CO - -------------------------------------------------------------------------------- * Includes Warrants exercisable for 826,471 shares of Common Stock. ^ Calculated based on 50,166,690 shares of Common Stock outstanding as of October 31, 2006 (as reported in the Issuer's Form 10-Q filed under the Securities Exchange Act of 1934, on November 9, 2006), plus 826,471 shares of Common Stock issuable upon exercise of Warrants which were beneficially owned by the reporting person and included pursuant to Rule 13d-3(d)(1)(i). CUSIP No. Y716G109 SC 13G/A Page 5 of 15 - -------------------------------------------------------------------------------- (1) NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) King Street Advisors, L.L.C. 13-38-12173 - -------------------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [x] - -------------------------------------------------------------------------------- (3) SEC USE ONLY - -------------------------------------------------------------------------------- (4) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- NUMBER OF (5) SOLE VOTING POWER 0 SHARES _________________________________________________________________ BENEFICIALLY (6) SHARED VOTING POWER 1,333,302* OWNED BY _________________________________________________________________ EACH (7) SOLE DISPOSITIVE POWER 0 REPORTING _________________________________________________________________ PERSON WITH (8) SHARED DISPOSITIVE POWER 1,333,302* - -------------------------------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,333,302* - -------------------------------------------------------------------------------- (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] - -------------------------------------------------------------------------------- (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 2.6%^ - -------------------------------------------------------------------------------- (12) TYPE OF REPORTING PERSON OO - -------------------------------------------------------------------------------- * Includes Warrants exercisable for 400,757 shares of Common Stock. ^ Calculated based on 50,166,690 shares of Common Stock outstanding as of October 31, 2006 (as reported in the Issuer's Form 10-Q filed under the Securities Exchange Act of 1934, on November 9, 2006), plus 400,757 shares of Common Stock issuable upon exercise of Warrants which were beneficially owned by the reporting person and included pursuant to Rule 13d-3(d)(1)(i). CUSIP No. Y716G109 SC 13G/A Page 6 of 15 - -------------------------------------------------------------------------------- (1) NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) King Street Capital Management, L.L.C. 13-3978904 - -------------------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [x] - -------------------------------------------------------------------------------- (3) SEC USE ONLY - -------------------------------------------------------------------------------- (4) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- NUMBER OF (5) SOLE VOTING POWER 0 SHARES _________________________________________________________________ BENEFICIALLY (6) SHARED VOTING POWER 4,055,015* OWNED BY _________________________________________________________________ EACH (7) SOLE DISPOSITIVE POWER 0 REPORTING _________________________________________________________________ PERSON WITH (8) SHARED DISPOSITIVE POWER 4,055,015* - -------------------------------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,055,015* - -------------------------------------------------------------------------------- (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] - -------------------------------------------------------------------------------- (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 7.9%^ - -------------------------------------------------------------------------------- (12) TYPE OF REPORTING PERSON OO - -------------------------------------------------------------------------------- * Includes Warrants exercisable for 1,227,228 shares of Common Stock. ^ Calculated based on 50,166,690 shares of Common Stock outstanding as of October 31, 2006 (as reported in the Issuer's Form 10-Q filed under the Securities Exchange Act of 1934, on November 9, 2006), plus 1,227,228 shares of Common Stock issuable upon exercise of Warrants which were beneficially owned by the reporting person and included pursuant to Rule 13d-3(d)(1)(i). CUSIP No. Y716G109 SC 13G/A Page 7 of 15 - -------------------------------------------------------------------------------- (1) NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) O. Francis Biondi, Jr. - -------------------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [x] - -------------------------------------------------------------------------------- (3) SEC USE ONLY - -------------------------------------------------------------------------------- (4) CITIZENSHIP OR PLACE OF ORGANIZATION United States of America - -------------------------------------------------------------------------------- NUMBER OF (5) SOLE VOTING POWER 0 SHARES _________________________________________________________________ BENEFICIALLY (6) SHARED VOTING POWER 4,055,015* OWNED BY _________________________________________________________________ EACH (7) SOLE DISPOSITIVE POWER 0 REPORTING _________________________________________________________________ PERSON WITH (8) SHARED DISPOSITIVE POWER 4,055,015* - -------------------------------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,055,015* - -------------------------------------------------------------------------------- (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] - -------------------------------------------------------------------------------- (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 7.9%^ - -------------------------------------------------------------------------------- (12) TYPE OF REPORTING PERSON IN - -------------------------------------------------------------------------------- * Includes Warrants exercisable for 1,227,228 shares of Common Stock. ^ Calculated based on 50,166,690 shares of Common Stock outstanding as of October 31, 2006 (as reported in the Issuer's Form 10-Q filed under the Securities Exchange Act of 1934, on November 9, 2006), plus 1,227,228 shares of Common Stock issuable upon exercise of Warrants which were beneficially owned by the reporting person and included pursuant to Rule 13d-3(d)(1)(i). CUSIP No. Y716G109 SC 13G/A Page 8 of 15 - -------------------------------------------------------------------------------- (1) NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Brian J. Higgins - -------------------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [x] - -------------------------------------------------------------------------------- (3) SEC USE ONLY - -------------------------------------------------------------------------------- (4) CITIZENSHIP OR PLACE OF ORGANIZATION United States of America - -------------------------------------------------------------------------------- NUMBER OF (5) SOLE VOTING POWER 0 SHARES _________________________________________________________________ BENEFICIALLY (6) SHARED VOTING POWER 4,055,015* OWNED BY _________________________________________________________________ EACH (7) SOLE DISPOSITIVE POWER 0 REPORTING _________________________________________________________________ PERSON WITH (8) SHARED DISPOSITIVE POWER 4,055,015* - -------------------------------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,055,015* - -------------------------------------------------------------------------------- (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] - -------------------------------------------------------------------------------- (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 7.9%^ - -------------------------------------------------------------------------------- (12) TYPE OF REPORTING PERSON IN - -------------------------------------------------------------------------------- * Includes Warrants exercisable for 1,227,228 shares of Common Stock. ^ Calculated based on 50,166,690 shares of Common Stock outstanding as of October 31, 2006 (as reported in the Issuer's Form 10-Q filed under the Securities Exchange Act of 1934, on November 9, 2006), plus 1,227,228 shares of Common Stock issuable upon exercise of Warrants which were beneficially owned by the reporting person and included pursuant to Rule 13d-3(d)(1)(i). CUSIP No. Y716G109 SC 13G/A Page 9 of 15 ITEM 1(a). NAME OF ISSUER: Quintana Maritime Limited (the "Issuer") ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: Pandoras & Kyprou Street, 166 74 Glyfada, Greece ITEM 2(a). NAME OF PERSON FILING: This Schedule 13G/A is being jointly filed by King Street Acquisition Company, L.L.C. ("KSAC"), King Street Capital, L.P. ("KSC L.P."), King Street Capital, Ltd. ("KSC Ltd."), King Street Advisors, L.L.C. ("KSA"), King Street Capital Management, L.L.C. ("KSCM"), O. Francis Biondi, Jr. and Brian J. Higgins. KSAC, KSC L.P., KSC Ltd., KSA, KSCM and Messrs. Biondi and Higgins are collectively referred to herein as "Reporting Persons". ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE, OR IF NONE, RESIDENCE: The principal business address of KSC Ltd. is: c/o Walkers Chambers P.O. Box 92 Road Town, Tortola British Virgin Islands The principal business address of each of the other Reporting Persons is: 65 East 55th Street 30th Floor New York, New York 10022 ITEM 2(c). CITIZENSHIP: Messrs. Biondi and Higgins are both United States citizens. KSC Ltd. is a company organized under the laws of the British Virgin Islands. Each of the other Reporting Persons is organized under the laws of the State of Delaware, U.S.A. ITEM 2(d). TITLE OF CLASS OF SECURITIES: Common Stock, par value $0.01 per share ("Common Stock") ITEM 2(e). CUSIP NUMBER: Y7169G109 ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO 13d-1(b) OR 13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A: (a) [ ] Broker or dealer registered under Section 15 of the Act (b) [ ] Bank as defined in Section 3(a)(6) of the Act (c) [ ] Insurance Company as defined in Section 3(a)(19) of the Act CUSIP No. Y716G109 SC 13G/A Page 10 of 15 (d) [ ] Investment Company registered under Section 8 of the Investment Company Act of 1940 (e) [ ] Investment Adviser registered under Section 203 of the Investment Advisers Act of 1940: see Rule 13d-1(b)(1)(ii)(E) (f) [ ] Employee Benefit Plan, Pension Fund which is subject to the provisions of the Employee Retirement Income Security Act of 1974 or Endowment Fund; see Rule 13d- 1(b)(1)(ii)(F) (g) [ ] Parent Holding Company, in accordance with Rule 13d- 1(b)(ii)(G) (h) [ ] Savings Associations as defined in Section 3(b) of the Federal Deposit Insurance Act (i) [ ] Church Plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J) ITEM 4. OWNERSHIP. KSAC: - ---- As of December 31, 2006, all shares of Common Stock over which KSAC may potentially have been deemed to have shared voting and dispositive power were transferred to KSC L.P. and KSC Ltd. KSC L.P.: - -------- As of December 31, 2006, KSC L.P. may potentially have been deemed to have shared voting and dispositive power over the 1,333,302 shares of Common Stock it owns, or 2.6% of the total outstanding shares of Common Stock, including Warrants exercisable for 400,757 shares of Common Stock. This percentage of the outstanding shares of Common Stock is based on 50,166,690 shares of Common Stock outstanding as of October 31, 2006, as reported in the Issuer's Form 10-Q filed under the Securities Exchange Act of 1934, on November 9, 2006, plus 400,757 shares of Common Stock which were beneficially owned by KSC L.P. and included pursuant to Rule 13d-3(d)(1)(i). KSC LTD.: - -------- As of December 31, 2006, KSC Ltd. may potentially have been deemed to have shared voting and dispositive power over the 2,721,713 shares of Common Stock it owns, or 5.3% of the total outstanding shares of Common Stock, including the Warrants exercisable for 826,471 shares of Common Stock. This percentage of the outstanding shares of Common Stock is based on 54,166,690 CUSIP No. Y716G109 SC 13G/A Page 11 of 15 shares of Common Stock outstanding as of October 31, 2006, as reported in the Issuer's Form 10-Q filed under the Securities Exchange Act of 1934, on November 9, 2006, plus 826,471 shares of Common Stock which were beneficially owned by KSC Ltd. and included pursuant to Rule 13d-3(d)(1)(i). KSA: - --- Because KSA is the General Partner of KSC L.P., pursuant to Rule 13d-1, as of December 31, 2006, KSA may potentially have been deemed to be the beneficial owner of 1,333,302 shares of Common Stock, or 2.5% of the outstanding shares of Common Stock, consisting of the shares which were beneficially owned by KSC L.P. Because of the relationship described above, as of December 31, 2006, KSA may potentially have been deemed to have shared voting and dispositive power over the 1,333,302 shares of the Common Stock, or 2.6% of the outstanding shares of Common Stock. This percentage of the outstanding shares of Common Stock is based on 54,166,690 shares of Common Stock outstanding as of October 31, 2006, as reported in the Issuer's Form 10-Q filed under the Securities Exchange Act of 1934, on November 9, 2006, plus 400,757 shares of Common Stock which were beneficially owned by KSA and included pursuant to Rule 13d-3(d)(1)(i). KSCM: - ---- Because KSCM has been delegated certain investment advisory responsibilities by KSA on behalf of KSC L.P., and is also the Investment Manager of KSC Ltd., pursuant to Rule 13d-1, as of December 31, 2006, KSCM may potentially have been deemed to be the beneficial owner of 4,055,015 shares of Common Stock, or 7.9% of the outstanding shares of Common Stock, consisting of the shares which were beneficially owned by KSC L.P. and KSC Ltd. Because of the relationship described above, as of December 31, 2006, KSCM may potentially have been deemed to have shared voting and dispositive power over the 4,055,015 shares of Common Stock, or 7.9% of the outstanding shares of Common Stock. This percentage of the outstanding shares of Common Stock is based on 54,166,690 shares of Common Stock outstanding as of October 31, 2006, as reported in the Issuer's Form 10-Q filed under the Securities Exchange Act of 1934, on November 9, 2006, plus 1,227,228 shares of Common Stock which were beneficially owned by KSCM and included pursuant to Rule 13d-3(d)(1)(i). O. FRANCIS BIONDI, JR.: - ---------------------- Because Mr. Biondi is a Managing Member of KSA and a Managing Principal of KSCM, pursuant to Rule 13d-1, as of December 31, 2006, Mr. Biondi may potentially have been deemed to be the beneficial owner of 4,055,015 shares of Common Stock, or 7.9% of the outstanding shares of Common Stock, consisting of the shares which were beneficially owned by KSC L.P. and KSC Ltd. CUSIP No. Y716G109 SC 13G/A Page 12 of 15 Because of the relationship described above, as of December 31, 2006, Mr. Biondi may potentially have been deemed to have shared voting and dispositive power over an aggregate of the 4,055,015 shares of Common Stock, or 7.9% of the outstanding shares of Common Stock. This percentage of the outstanding shares of Common Stock is based on 54,166,690 shares of Common Stock outstanding as of October 31, 2006, as reported in the Issuer's Form 10-Q filed under the Securities Exchange Act of 1934, on November 9, 2006, plus 1,227,228 shares of Common Stock which were beneficially owned by Mr. Biondi and included pursuant to Rule 13d-3(d)(1)(i). BRIAN J. HIGGINS: - ---------------- Because Mr. Higgins is a Managing Member of KSA and a Managing Principal of KSCM, pursuant to Rule 13d-1, as of December 31, 2006, Mr. Higgins may potentially have been deemed to be the beneficial owner of 4,055,015 shares of Common Stock, or 7.9% of the outstanding shares of Common Stock, consisting of the shares which were beneficially owned by KSC L.P. and KSC Ltd. Because of the relationship described above, as of December 31, 2006, Mr. Higgins may potentially have been deemed to have shared voting and dispositive power over an aggregate of 4,055,015 shares of Common Stock, or 7.9% of the outstanding shares of Common Stock. This percentage of the outstanding shares of Common Stock is based on 54,166,690 shares of Common Stock outstanding as of October 31, 2006, as reported in the Issuer's Form 10-Q filed under the Securities Exchange Act of 1934, on November 9, 2006, plus 1,227,228 shares of Common Stock which were beneficially owned by Mr. Higgins and included pursuant to Rule 13d-3(d)(1)(i). Because of the relationships described above, the Reporting Persons may be deemed to constitute a "group" within the meaning of Rule 13d-5 under the Securities Exchange Act of 1934, and as such, each member of the group would be deemed to beneficially own, in the aggregate, all of the shares of the Common Stock held by members of the group. The Reporting Persons do not admit that they constitute a group within the meaning of Rule 13d-5. 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 Persons have 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. See Item 4. 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 THE GROUP. Not applicable. CUSIP No. Y716G109 SC 13G/A Page 13 of 15 ITEM 9. NOTICE OF DISSOLUTION OF GROUP. Not applicable. ITEM 10. CERTIFICATION. Not Applicable. This statement on Schedule 13G/A is not filed pursuant to Rule 13d-1(b) or Rule 13d-1(c). CUSIP No. Y716G109 SC 13G/A Page 14 of 15 SIGNATURES After reasonable inquiry and to the best of our knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct. Dated: February 14, 2007 -------------------- King Street Acquisition Company, L.L.C.* By: King Street Capital Management, L.L.C., its Manager By: /s/ Brian J. Higgins ------------------------ Name: Brian J. Higgins Title: Managing Principal King Street Capital, L.P.* By: King Street Advisors, L.L.C., its General Partner By: /s/ Brian J. Higgins ------------------------ Name: Brian J. Higgins Title: Managing Member King Street Capital, Ltd.* By: /s/ Brian J. Higgins ------------------------ Name: Brian J. Higgins Title: Director King Street Advisors, L.L.C.* By: /s/ Brian J. Higgins ------------------------ Name: Brian J. Higgins Title: Managing Member King Street Capital Management, L.L.C.* By: /s/ Brian J. Higgins ------------------------ Name: Brian J. Higgins Title: Managing Principal CUSIP No. Y716G109 SC 13G/A Page 15 of 15 /s/ Brian J. Higgins - -------------------------- Brian J. Higgins* /s/ O. Francis Biondi, Jr. - ----------------------------- O. Francis Biondi, Jr.* * The Reporting Persons disclaim beneficial ownership over the Common Stock reported herein except to the extent of its or his pecuniary interest therein. The original statement shall be signed by each person on whose behalf the statement is filed or his authorized representative. If the statement is signed on behalf of a person by his authorized representative other than an executive officer or general partner of the filing person, evidence of the representative's authority to sign on behalf of such person shall be filed with this statement, provided, however, that a power of attorney, for this purpose which is already on file with the Commission may be incorporated by reference. The name and any title of each person who signs the statement shall be typed or printed beneath his signature. Note. Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See s.240.13d-7 for other parties for whom copies are to be sent. Attention. Intentional misstatements or omissions of fact constitute federal criminal violations (see 18 U.S.C. 1001). -----END PRIVACY-ENHANCED MESSAGE-----