SEC Form 3
FORM 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person*
van der Schee Jurriaan

(Last) (First) (Middle)
C/O MATLINPATTERSON GLOBAL ADVISERS LLC
520 MADISON AVENUE, 35TH FLOOR

(Street)
NEW YORK NY 10022

(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
12/09/2009
3. Issuer Name and Ticker or Trading Symbol
POLYMER GROUP INC [ POLGA.OB ]
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
5. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class A Common Stock 13,596,921(1)(2)(3) I See Footnotes(1)(2)(3)
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4) 2. Date Exercisable and Expiration Date (Month/Day/Year) 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 6. Nature of Indirect Beneficial Ownership (Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
1. MatlinPatterson Global Opportunities Partners L.P. ("Matlin Partners (Delaware)") is a direct beneficial owner of 9,968,811 shares of Class A Common Stock. MatlinPatterson Global Opportunities Partners (Bermuda) L.P. ("Matlin Partners (Bermuda)") is a direct beneficial owner of 3,473,703 shares of Class A Common Stock. MatlinPatterson Global Opportunities Partners B, L. P. (" Opt-Out Fund" and together with Matlin Partners (Delaware) and Matlin Partners (Bermuda), the "Matlin Partnerships")) is a direct beneficial owner of 154,407 shares of Class A Common Stock. MatlinPatterson Global Partners LLC ("General Partner") is the general partner of the Matlin Partnerships. MatlinPatterson Global Advisers LLC (the "Adviser") is the investment adviser to the Matlin Partnerships. MatlinPatterson Asset Management LLC ("MatlinPatterson Asset Management")
2. (Continuation from Footnote 1) holds 100 percent of the voting interest and equity of the Adviser and the General Partner. MatlinPatterson LLC holds 100 percent of the equity of MatlinPatterson Asset Management. Mark R. Patterson and David J. Matlin each hold 50% of the equity of MatlinPatterson LLC. The Reporting Person is an employee of Matlin Advisers.
3. Although the Reporting Person does not have voting or investment control over the shares held by the Matlin Partnerships, the Reporting Person may be deemed to have an indirect pecuniary interest in such shares through his indirect interest in a limited partner which holds an investment interest and carried interest in the Matlin Partnerships. His exact pecuniary interest therein is not readily determinable because it is subject to several variables, including without limitation, the internal rates of return of the Matlin Partnerships overall with respect to their indirect investment in the Issuer. The Reporting Person disclaims beneficial ownership of any of the reported securities except to the extent of his pecuniary interest therein.
Remarks:
/s/ Jurriaan van der Schee 12/14/2009
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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