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

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

FORM 13F INFORMATION TABLE

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COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ASSURED GUARANTY LTD COM G0585R106 7,792 280,800 SH Put SOLE   280,800 0 0
CALATLANTIC GROUP INC COM 128195104 1,432,655 42,842,557 SH   SOLE   42,842,557 0 0
DYNEGY INC NEW DEL *W EXP 99/99/999 26817R116 100 62,714 SH Call SOLE   62,714 0 0
GENER8 MARITIME INC COM Y26889108 1,112 217,145 SH   SOLE   217,145 0 0
GLOBALSTAR INC COM 378973408 1,195 988,008 SH   SOLE   988,008 0 0
QUAD / GRAPHICS INC COM CL A 747301109 279 10,434 SH   SOLE   10,434 0 0