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

OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8

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
DYNEGY INC NEW DEL COM 26817R108 3,384 400,000 SH   SOLE   0 400,000 0
GLOBALSTAR INC NOTE 8.000% 4/0 378973AD3 2,329 838,036 PRN   SOLE   0 838,036 0
GLOBALSTAR INC COM 378973408 18,261 11,557,430 SH   SOLE   0 11,557,430 0
HCP INC COM 40414L109 29,720 1,000,000 SH Put SOLE   0 1,000,000 0
INTERNATIONAL SEAWAYS INC COM Y41053102 8,434 600,731 SH   SOLE   0 600,731 0
OVERSEAS SHIPHOLDING GROUP I CL A NEW 69036R863 2,714 708,718 SH   SOLE   0 708,718 0
STAR BULK CARRIERS CORP SHS PAR Y8162K204 18,054 3,533,104 SH   SOLE   0 3,533,104 0