0001019056-05-000091.txt : 20120629
0001019056-05-000091.hdr.sgml : 20120629
20050125151131
ACCESSION NUMBER: 0001019056-05-000091
CONFORMED SUBMISSION TYPE: SC 13D/A
PUBLIC DOCUMENT COUNT: 1
FILED AS OF DATE: 20050125
DATE AS OF CHANGE: 20050125
GROUP MEMBERS: MATLIN, DAVID J
GROUP MEMBERS: MATLINPATTERSON ASSET MANAGEMENT LLC
GROUP MEMBERS: MATLINPATTERSON GLOBAL ADVISERS LLC
GROUP MEMBERS: MATLINPATTERSON GLOBAL OPPORTUNITIES PARTNERS (BERMUDA) L.P.
GROUP MEMBERS: MATLINPATTERSON GLOBAL OPPORTUNITIES PARTNERS B, L.P.
GROUP MEMBERS: MATLINPATTERSON GLOBAL OPPORTUNITIES PARTNERS L.P.
GROUP MEMBERS: MATLINPATTERSON GLOBAL PARTNERS LLC
GROUP MEMBERS: MATLINPATTERSON LLC
GROUP MEMBERS: PATTERSON, MARK R.
FILED BY:
COMPANY DATA:
COMPANY CONFORMED NAME: MATLINPATTERSON LLC
CENTRAL INDEX KEY: 0001178798
IRS NUMBER: 134202931
FILING VALUES:
FORM TYPE: SC 13D/A
BUSINESS ADDRESS:
STREET 1: 520 MADISON AVE
CITY: NEW YORK
STATE: NY
ZIP: 10022
BUSINESS PHONE: 2126519500
SUBJECT COMPANY:
COMPANY DATA:
COMPANY CONFORMED NAME: POLYMER GROUP INC
CENTRAL INDEX KEY: 0000927417
STANDARD INDUSTRIAL CLASSIFICATION: BROADWOVEN FABRIC MILS, MAN MADE FIBER & SILK [2221]
IRS NUMBER: 571003983
STATE OF INCORPORATION: DE
FISCAL YEAR END: 0103
FILING VALUES:
FORM TYPE: SC 13D/A
SEC ACT: 1934 Act
SEC FILE NUMBER: 005-46353
FILM NUMBER: 05547005
BUSINESS ADDRESS:
STREET 1: 4838 JENKINS AVE
CITY: NORTH CHARLESTON
STATE: SC
ZIP: 29405
BUSINESS PHONE: 8037445174
MAIL ADDRESS:
STREET 1: 4838 JENKINS AVENUE
CITY: NORTH CHARLESTON
STATE: SC
ZIP: 29405
SC 13D/A
1
polymer_13da6.txt
SCHEDULE 13D/A
Schedule 13D --------------------------------
Cusip No. 731745105 OMB APPROVAL
--------------------------------
OMB Number: 3235-0145
Expires: December 31, 2005
Estimated average burden
hours per response.........11
--------------------------------
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
Under the Securities Exchange Act of 1934
(Amendment No. 6)*
Polymer Group, Inc.
--------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $0.01 per share
---------------------------------------
(Title of Class of Securities)
731745105
--------------
(CUSIP Number)
MatlinPatterson Global Opportunities Partners L.P.
MatlinPatterson Global Opportunities Partners (Bermuda) L.P.
MatlinPatterson Global Opportunities Partners B, L.P.
MatlinPatterson Global Advisers LLC
MatlinPatterson Global Partners LLC
MatlinPatterson Asset Management LLC
MatlinPatterson LLC
Mark R. Patterson
David J. Matlin
(Name of Persons Filing)
Robert Weiss
MatlinPatterson Global Advisers LLC
520 Madison Avenue
New York, New York 10022
Telephone: (212) 651-9525
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
January 21, 2005
-------------------------------------------------------
(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 that is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-l(e), 13d-l(f) or 13d-l(g), check the
following box [ ]
Note: Schedules filed in paper format shall include a signed original
and five copies of the schedule, including all exhibits. See Rule 13d-7 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 this cover page shall not be deemed to be
"filed" for the purpose of Section 18 of the Securities Exchange Act of 1934
("Exchange Act") or otherwise subject to the liabilities of that section of the
Exchange Act but shall be subject to all other provisions of the Exchange Act
(however, see the Notes)
Pae 1 of 16
Schedule 13D
Cusip No. 731745105
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
MatlinPatterson Global Opportunities Partners L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF, WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
SHARES BENEFICIALLY OWNED 7 SOLE VOTING POWER
BY EACH REPORTING PERSON 0
WITH
--------------------------------------------------------------------------------
8 SHARED VOTING POWER
9,579,908
--------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
9,579,908
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9,579,908
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
64.4%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
Page 2 of 16
Schedule 13D
Cusip No. 731745105
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
MatlinPatterson Global Opportunities Partners (Bermuda) L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF, WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Bermuda
--------------------------------------------------------------------------------
SHARES BENEFICIALLY OWNED 7 SOLE VOTING POWER
BY EACH REPORTING PERSON 0
WITH
--------------------------------------------------------------------------------
8 SHARED VOTING POWER
3,338,191
--------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
3,338,191
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,338,191
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
28.5%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
Page 3 of 16
Schedule 13D
Cusip No. 731745105
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
MatlinPatterson Global Opportunities Partners B, L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF, WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
SHARES BENEFICIALLY OWNED 7 SOLE VOTING POWER
BY EACH REPORTING PERSON 0
WITH
--------------------------------------------------------------------------------
8 SHARED VOTING POWER
158,892
--------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
158,892
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
158,892
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.6%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
Page 4 of 16
Schedule 13D
Cusip No. 731745105
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
MatlinPatterson Global Advisers LLC
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF, WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
SHARES BENEFICIALLY OWNED 7 SOLE VOTING POWER
BY EACH REPORTING PERSON 0
WITH
--------------------------------------------------------------------------------
8 SHARED VOTING POWER
13,076,991
--------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
13,076,991
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
13,076,991
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
79.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IA
--------------------------------------------------------------------------------
Page 5 of 16
Schedule 13D
Cusip No. 731745105
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
David J. Matlin
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF, WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
SHARES BENEFICIALLY OWNED 7 SOLE VOTING POWER
BY EACH REPORTING PERSON 0
WITH
--------------------------------------------------------------------------------
8 SHARED VOTING POWER
13,076,991
--------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
13,076,991
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
13,076,991
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
79.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
Page 6 of 16
Schedule 13D
Cusip No. 731745105
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Mark P. Patterson
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF, WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
SHARES BENEFICIALLY OWNED 7 SOLE VOTING POWER
BY EACH REPORTING PERSON 0
WITH
--------------------------------------------------------------------------------
8 SHARED VOTING POWER
13,076,991
--------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
13,076,991
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
13,076,991
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
79.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
Page 7 of 16
Schedule 13D
Cusip No. 731745105
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
MatlinPatterson Global Partners LLC
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF, WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
SHARES BENEFICIALLY OWNED 7 SOLE VOTING POWER
BY EACH REPORTING PERSON 0
WITH
--------------------------------------------------------------------------------
8 SHARED VOTING POWER
13,076,991
--------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
13,076,991
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
13,076,991
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
79.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
HC
--------------------------------------------------------------------------------
Page 8 of 16
Schedule 13D
Cusip No. 731745105
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
MatlinPatterson Asset Management LLC
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF, WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
SHARES BENEFICIALLY OWNED 7 SOLE VOTING POWER
BY EACH REPORTING PERSON 0
WITH
--------------------------------------------------------------------------------
8 SHARED VOTING POWER
13,076,991
--------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
13,076,991
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
13,076,991
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
79.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
HC
--------------------------------------------------------------------------------
Page 9 of 16
Schedule 13D
Cusip No. 731745105
--------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
MatlinPatterson LLC
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF, WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
SHARES BENEFICIALLY OWNED 7 SOLE VOTING POWER
BY EACH REPORTING PERSON 0
WITH
--------------------------------------------------------------------------------
8 SHARED VOTING POWER
13,076,991
--------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
13,076,991
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
13,076,991
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
79.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
HC
--------------------------------------------------------------------------------
Page 10 of 16
Schedule 13D
Cusip No. 731745105
Introduction.
------------
This Schedule Amendment No. 6 amends and supplements the
Schedule 13D Statement filed on March 17, 2003 (the "Initial Statement") as
amended and supplemented by Amendment No. 1 to Schedule 13D, filed on April 14,
2003 ("Schedule Amendment No. l"), as amended and supplemented by Amendment No.
2 to Schedule 13D, filed on June 5, 2003 ("Schedule Amendment No. 2") as amended
and supplemented by Amendment No. 3 to Schedule 13D, filed on April 29, 2004
("Schedule Amendment No. 3") as amended and supplemented by Amendment No. 4 to
Schedule 13D, filed on May 19, 2004 ("Schedule Amendment No. 4") as amended and
supplemented by Amendment No. 5 to Schedule 13D, filed on November 16, 2004
("Schedule Amendment No. 5"). The Initial Schedule 13D, Schedule Amendment No.
1, Schedule Amendment No. 2, Schedule Amendment No. 3, Schedule Amendment No. 4,
Schedule Amendment No. 5 and this Schedule Amendment No. 5 are collectively
referred to herein as the "Statement".
Capitalized terms used and not defined in this Schedule
Amendment No. 4 shall have the meanings set forth in the Statement.
The Initial Statement was filed on behalf of (i)
MatlinPatterson Global Opportunities Partners L.P., ("Matlin Partners
(Delaware)") a limited partnership organized under the laws of Delaware,
MatlinPatterson Global Opportunities Partners B, L.P., (the "Opt-Out Fund") a
limited partnership organized under the laws of Delaware, and MatlinPatterson
Global Opportunities Partners (Bermuda) L.P., ("Matlin Partners (Bermuda)"),
collectively with the Opt-Out Fund and Matlin Partners Delaware, "Matlin
Partners"), a limited partnership organized under the laws of Bermuda, (ii)
MatlinPatterson Global Advisers LLC, ("Matlin Advisers") a limited liability
company organized under the laws of Delaware, by virtue of their investment
authority over securities held by Matlin Partners, (iii) MatlinPatterson Global
Partners LLC, ("Matlin Global Partners") a limited liability company organized
under the laws of Delaware, as general partner of Matlin Partners, (iv)
MatlinPatterson Asset Management LLC, ("Matlin Asset Management") a limited
liability company organized under the laws of Delaware, as the holder of all of
the membership interests in Matlin Global Partners and Matlin Advisers, (v)
MatlinPatterson LLC, ("MatlinPatterson") a limited liability company organized
under the laws of Delaware, as the holder of all of the membership interests in
Matlin Asset Management, (vi) and Mark Patterson and David Matlin each, as a
holder of 50% of the membership interests in MatlinPatterson (Matlin Partners
(Delaware), Matlin Partners (Bermuda), the Opt-Out Fund, Matlin Advisers, Matlin
Global Partners, Matlin Asset Management, MatlinPatterson, Mark Patterson and
David Matlin, collectively, the "Reporting Persons" and each a "Reporting
Person"), for the purpose of disclosing the beneficial ownership of the
Reporting Persons in Polymer Group, Inc. (the "Issuer") pursuant to the Debtor's
Joint Second Amended and Modified Plan of Reorganization (the "Plan"), approved
on January 16, 2003 by the United States Bankruptcy Court for the District of
South Carolina (Case No. 02-5773(w)).
Schedule Amendment No. 1 was filed for the purpose of
disclosing the execution of a letter agreement on April 11, 2003 (the "Letter
Agreement") between the Issuer and Matlin Partners (Delaware).
Page 11 of 16
Schedule 13D
Cusip No. 731745105
Schedule Amendment No. 2 was filed for the purpose of
disclosing (1) the execution of Amendment No. 1 (the "Note Amendment"), dated as
of May 30, 2003, among the Issuer, each of the entities identified under the
caption "Guarantors" on the signature pages thereto and Matlin Partners
(Delaware) amending the Senior Subordinated Note Purchase Agreement dated as of
March 5, 2003 and the Senior Subordinated Note and (2) the amendment of the
Convertible Notes pursuant to the Supplemental Indenture (the "Supplemental
Indenture") dated as of May 30, 2003 among the Issuer, the subsidiary guarantors
named therein and Wilmington Trust Company, as trustee.
Schedule Amendment No. 3 was filed on behalf of the Reporting
Persons for the purpose of (1) amending certain information that has changed
since the filing of Amendment No. 2, (2) disclosing the consummation on April
27, 2004 of the transactions contemplated by the Exchange Agreement, a copy of
which is attached hereto as Exhibit 14 (the "Exchange Agreement") by and among
the Issuer, Matlin Partners (Delaware) and Matlin Partners (Bermuda), relating
to the refinancing of the Issuer (the "Notes Exchange") and (3) disclosing the
filing of the Certificate of Designations to the Amended and Restated Articles
of Incorporation of the Issuer, a copy of which is attached hereto as Exhibit 15
(the "Certificate of Designations") filed on April 27, 2004 with the Secretary
of State of the State of Delaware.
Schedule Amendment No. 4 was filed on behalf of the Reporting
Persons for the purpose of (1) disclosing additional amounts distributed to the
Reporting Persons pursuant to the Plan that were initially held back as
previously disclosed in Item I Subsection I.C. as filed in the Initial Statement
and (2) a reallocation of securities of the Issuer held by the Reporting
Persons.
Schedule Amendment No. 5 was filed on behalf of the Reporting
Persons for the purpose of disclosing shares of Class A Common Stock of the
Issuer purchased by the Reporting Persons in open market transactions.
This Schedule Amendment No. 6 is filed on behalf of the
Reporting Persons for the purpose of disclosing amounts distributed to the
Reporting Persons as pay-in-kind dividends on the shares of Preferred Stock
currently held by the Reporting Persons.
Item 3. Source and Amount of Funds or Other Consideration
-------------------------------------------------
Item 3 of the Initial Statement is hereby amended and
supplemented by adding the following to the end of said Item 3 as follows:
The Reporting Persons acquired 4,720 shares of Preferred Stock
(the "PIK Shares") as pay-in-kind dividends on the shares of Preferred Stock
currently held by the Reporting Persons.
Item 5. Interest in Securities of the Issuer
------------------------------------
Item 5 of the Initial Statement is hereby amended and restated as follows:
(a) (i) As of the date hereof, (A) Matlin Partners
(Delaware), is a direct beneficial owner of 9,579,908 shares of Class A Common
Stock consisting of 4,763,929 shares of Class A Common Stock and 35,117 shares
of Preferred Stock, which are immediately convertible into 4,815,979 shares of
Page 12 of 16
Schedule 13D
Cusip No. 731745105
Class A Common Stock and (B) MatlinPatterson, Matlin Asset Management, Matlin
Advisers, Matlin Global Partners, Mark R. Patterson and David J. Matlin are each
an indirect beneficial owner of 9,579,908 shares of Class A Common Stock
consisting of 4,763,929 shares of common stock and 35,117 shares of Preferred
Stock, which are immediately convertible into 4,815,979 shares of Class A Common
Stock. The 9,579,908 shares of Class A Common Stock represent beneficial
ownership of approximately 64.4% of the Issuer's issued and outstanding shares
of Class A Common Stock (assuming conversion of the Preferred Stock beneficially
owned by Matlin Partners (Delaware)).
(b) (i) As of the date hereof, (A) Matlin Partners (Bermuda),
is a direct beneficial owner of 3,338,191 shares of Class A Common Stock
consisting of 1,660,066 shares of Class A Common stock and 12,236 shares of
Preferred Stock, which are immediately convertible into 1,678,125 shares of
Class A Common Stock and (B) MatlinPatterson, Matlin Asset Management, Matlin
Advisers, Matlin Global Partners, Mark R. Patterson and David J. Matlin are each
an indirect beneficial owner of 3,338,191 shares of Class A Common Stock
consisting of 1,660,066 shares of common stock and 12,236 shares of Preferred
Stock, which are immediately convertible into 1,678,125 shares of Class A Common
Stock. The 3,338,191 shares of Class A Common Stock represent beneficial
ownership of approximately 28.5% of the Issuer's issued and outstanding shares
of Class A Common Stock (assuming conversion of the Preferred Stock beneficially
owned by Matlin Partners (Bermuda)).
(c) (i) As of the date hereof, (A) the Opt-Out Fund, is a
direct beneficial owner of 158,892 shares of Class A Common Stock consisting
solely of 158,892 shares of Class A Common Stock and (B) MatlinPatterson, Matlin
Asset Management, Matlin Advisers, Matlin Global Partners, Mark R. Patterson and
David J. Matlin are each an indirect beneficial owner of 158,892 shares of Class
A Common Stock. The 158,892 shares of Class A Common Stock represent beneficial
ownership of approximately 1.6% of the Issuer's issued and outstanding shares of
Class A Common Stock.
(ii) Matlin Global Partners serves as General Partner of
Matlin Partners. By reason of such relationships, Matlin Global Partners may be
deemed to beneficially own share the shares owned by Matlin Partners.
(iii) Matlin Advisers serves as investment advisor to
Matlin Partners. By reason of such relationships, Matlin Advisers may be deemed
to beneficially own the shares owned by Matlin Partners.
(iv) Matlin Asset Management is the holder of all of the
membership interests in Matlin Global Partners and Matlin Advisers. By reason of
such relationships, Matlin Asset Management may be deemed to beneficially own
the shares owned by Matlin Partners.
(v) MatlinPatterson is the holder of all of the
membership interests in Matlin Asset Management. By reason of such relationship,
MatlinPatterson may be deemed to beneficially own the shares owned by Matlin
Partners.
(vi) Mark R. Patterson and David J. Matlin are the holders
of all of the membership interests in MatlinPatterson. By reason of such
relationships, each of Mark Patterson and David Matlin may be deemed to share
voting and dispositive power over the shares owned by Matlin Partners.
Page 13 of 16
Schedule 13D
Cusip No. 731745105
(d) To the best knowledge of MatlinPatterson, Matlin Asset
Management, Matlin Advisers and Matlin Global Partners with respect to the
directors and executive officers named in this Statement, none of the persons
(i) beneficially owns any shares of Class A Common Stock (other than in his or
her capacity as a controlling member, executive officer or director of such
corporation or limited liability company) or (ii) has the right to acquire any
Class A Common Stock owned by other parties.
The filing of this Statement shall not be construed as an
admission by any of the Reporting Persons that it is, for purposes of Section
13(d) of the Exchange Act, the beneficial owner of shares of Class A Common
Stock owned by other parties.
Page 14 of 16
Schedule 13D
Cusip No. 731745105
SIGNATURE
After reasonable inquiry and to the best of our knowledge and
belief, we certify that the information set forth in this Statement is true,
complete and correct.
Dated: January 25, 2005
MATLINPATTERSON LLC
By: /s/ MARK R. PATTERSON
-----------------------------------
Name: Mark R. Patterson
Title: Member
MATLINPATTERSON ASSET MANAGEMENT LLC
By: /s/ MARK R. PATTERSON
-----------------------------------
Name: Mark R. Patterson
Title: Chairman
MATLINPATTERSON GLOBAL ADVISERS LLC
By: /s/ MARK R. PATTERSON
-----------------------------------
Name: Mark R. Patterson
Title: Chairman
MATLINPATTERSON GLOBAL PARTNERS LLC
By: /s/ MARK R. PATTERSON
-----------------------------------
Name: Mark R. Patterson
Title: Director
MATLINPATTERSON GLOBAL OPPORTUNITIES
PARTNERS L.P.
By: MatlinPatterson Global Partners LLC
By: /s/ MARK R. PATTERSON
-----------------------------------
Name: Mark R. Patterson
Title: Director
MATLINPATTERSON GLOBAL OPPORTUNITIES
PARTNERS (BERMUDA) L.P.
By: MatlinPatterson Global Partners LLC
By: /s/ MARK R. PATTERSON
-----------------------------------
Name: Mark R. Patterson
Title: Director
Page 15 of 16
Schedule 13D
Cusip No. 731745105
MATLINPATTERSON GLOBAL OPPORTUNITIES
PARTNERS B, L.P.
By: MatlinPatterson Global Partners LLC
By: /s/ MARK R. PATTERSON
-----------------------------------
Name: Mark R. Patterson
Title: Director
DAVID J. MATLIN
By: /s/ DAVID J. MATLIN
-----------------------------------
Name: David J. Matlin
MARK R. PATTERSON
By: /s/ MARK R. PATTERSON
-----------------------------------
Name: Mark R. Patterson
Page 16 of 16