-----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, A4IAQSktCWfeMD6zxcOM2d/7VEbJNO4Nm54rObOYl7e1r5P4fnALA6MJZEhT/2lm 2au+Lhxxw67VqrI7uHFiVw== 0001005477-00-002974.txt : 20000410 0001005477-00-002974.hdr.sgml : 20000410 ACCESSION NUMBER: 0001005477-00-002974 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20000407 GROUP MEMBERS: ARCHER MCWHORTER GROUP MEMBERS: BRION PROPERTIES, A LOUISIANA PARTNERSHIP GROUP MEMBERS: IN COMMENDAM GROUP MEMBERS: SLEEPY LAGOON, LTD. GROUP MEMBERS: SWANNER ALVIN E SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: MOTOR CLUB OF AMERICA CENTRAL INDEX KEY: 0000068480 STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331] IRS NUMBER: 220747730 STATE OF INCORPORATION: NJ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-37794 FILM NUMBER: 595928 BUSINESS ADDRESS: STREET 1: 95 ROUTE 17 SOUTH CITY: PARAMUS STATE: NJ ZIP: 07653 BUSINESS PHONE: 2012912000 MAIL ADDRESS: STREET 1: 95 ROUTE 17 SOUTH CITY: PARAMUS STATE: NJ ZIP: 07653-0931 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: SWANNER ALVIN E CENTRAL INDEX KEY: 0001111342 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 28 CHATEAU HAUTE BRION ST CITY: KENNER STATE: LA ZIP: 70065 MAIL ADDRESS: STREET 1: 28 CHATEAU HAUTE BRION ST CITY: KENNER STATE: LA ZIP: 70065 SC 13D/A 1 SCHEDULE 13D/A UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ------------ SCHEDULE 13D/A UNDER THE SECURITIES EXCHANGE ACT OF 1934 (Amendment No. 4) MOTOR CLUB OF AMERICA (Name of Issuer) COMMON STOCK, PAR VALUE $.50 PER SHARE (Title of Class of Securities) 619823107 (CUSIP Number) William E. Lobeck, Jr. 1132 S. Lewis Ave. Tulsa, OK 74104-3906 (918) 535-5129 (Name, address and telephone number of person authorized to receive notices and communications) March 27, 2000 (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 which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1 (b) (3) or (4), check the following box |_|. Note. Six copies of this statement, including all exhibits, should be filed with the Commission. See Rule 13d-1 (a) for other parties to whom copies are to be sent. Page 1 of 10 CUSIP No. 619823107 SCHEDULE 13D Page 2 of 10 Pages - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Archer McWhorter - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* PF - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION U.S. - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 301,635 -------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 525,671 OWNED BY -------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 301,635 WITH -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 525,671 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 525,671 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 22.6% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 619823107 SCHEDULE 13D Page 3 of 10 Pages - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Sleepy Lagoon, Ltd. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* PF - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Texas - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 -------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 224,036 OWNED BY -------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 0 WITH -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 224,036 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 224,036 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.6% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 619823107 SCHEDULE 13D Page 4 of 10 Pages - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Alvin E. Swanner - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* PF - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION U.S. - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 301,634 -------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 525,669 OWNED BY -------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 301,634 WITH -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 525,669 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 525,669 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 22.6% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 619823107 SCHEDULE 13D Page 5 of 10 Pages - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Brion Properties, a Louisiana partnership in commendam - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* PF - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Louisiana - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 -------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 224,035 OWNED BY -------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 0 WITH -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 224,035 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 224,035 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.6% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 619823107 SCHEDULE 13D Page 6 of 10 Pages - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) William E. Lobeck, Jr. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* PF - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION U.S. - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 505,668 -------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 0 OWNED BY -------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 505,668 WITH -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 505,668 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 21.8% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! Schedule 13D The persons signing this Schedule 13D Amendment 4 ( collectively the "Reporting Persons") hereby amend the statement on Schedule 13D as previously amended (collectively, the "Schedule 13D"), with respect to their beneficial ownership of Common Stock of Motor Club of America, a New Jersey corporation (the "Issuer"). Capitalized terms not otherwise defined shall have the meaning ascribed to them in Amendment 3. Item 1. Security and Issuer. Common Stock, par value $.50 per share, of the Issuer having principal executive offices at 95 Route 17 South, Paramus, New Jersey 07653. Item 2. Identity and Background. No Change. Item 3. Source and Amount of Funds or Other Consideration. On September 23, 1999, each of SL, BP and Mr. Lobeck (the "Purchasers") entered into separate Debenture Purchase Agreements (the "Agreements") with the Issuer, each in substantially the form attached as Exhibit 1 to Amendment 3, for the purchase of the Issuer's 8.44% unsecured subordinated debentures due September 23, 2009 (the "Debentures"). The Agreements provide for the purchases of the following principal amounts of the Debentures, and for their conversion, in whole or in part, at any time prior to the earlier of maturity or redemption, into the following number of shares of the Issuer's common stock: Principal Amount of Number of Shares of Common Stock Name of Purchaser Debentures Purchased Issuable on Debenture Conversion - ---------------------- -------------------- -------------------------------- Sleepy Lagoon, Ltd. $3,126,172 201,736 Brion Properties, Ltd. $3,126,162 201,735 William E. Lobeck $3,001,451 193,688 A form of the Debentures is included in Exhibit 1 to Amendment 3. Mr. McWhorter and SL share voting power and dispositive power with respect to the securities held by SL. As general partner of SL, Mr. McWhorter exercises SL's power to convert SL's Debentures as well as SL's voting and investment powers with respect to the subject securities. Although Mr. McWhorter's son, Archer McWhorter, Jr., is a Director of the Issuer and a limited partner of Sleepy Lagoon, Ltd., Mr. McWhorter Jr. cannot exercise any such powers, and disclaims any beneficial ownership of the Debentures and the subject securities thereof. Mr. Swanner and BP share voting power and dispositive power with respect to the securities held by BP. As general partner of BP, Mr. Swanner exercises BP's power to convert BP's Debentures as well as BP's voting and investment powers with respect to the subject securities thereof. Mr. Lobeck exercises sole power to convert his Debentures and as well as sole voting and investment powers with respect to the subject securities thereof. The purchase price of the Debentures and the 66,900 shares purchased on March 27, and March 29, 2000 was paid with personal funds of SL, BP, and Mr. Lobeck, respectively. Page 7 of 10 Item 4. Purpose of Transactions This Amended Report supplements the prior Item 4. The Reporting Persons believe the recent market price of the Issuer is undervalued as in comparison to what the Reporting Persons believe is its inherent fair market value. Each of the parties together effected the purchase of 66,900 shares of Common Stock for an aggregate of $482,050 by purchasing 56,900 shares at $7 per share on March 27, 2000 and 10,000 shares at $8.375 per share on March 29, 2000. Each of the Purchasers is a director of the Issuer, and together they constitute the Executive Committee of the Issuer's Board of Directors. Although the Purchasers acted in concert with respect to the transactions described herein, there is presently no agreement, understanding or arrangement among any of them to act in concert again in the future with respect to any of the Issuer's securities. Any one or more of the Purchasers, SL and Brion Properties, Ltd. may effect, alone or together, additional transactions in securities of the Issuer through a variety of possible means, including but not limited to open market and privately negotiated transactions. None of the Purchasers, SL or Brion Properties, Ltd. is bound to increase or decrease his or its holdings, and depending upon future developments, may also in his or its sole discretion determine at any time or from time to time to acquire additional Issuer securities or to sell or otherwise dispose of any or all of his or its Issuer securities. Each such individual and entity reserves the right to act with respect to his or its holdings as he or it deems in his or its best interests. As noted in Item 3 above, Mr. McWhorter's son, Archer McWhorter, Jr., is a director of the Issuer. Mr. McWhorter, Jr. is not, however, a member of the Executive Committee, and other than as described at Item 3, has not participated in the acquisition of the Debentures. Except as set forth in Item 3 or in this Item 4, none of Messrs. McWhorter, Lobeck or Swanner, or Brion Properties, Ltd. or Sleepy Lagoon, Ltd., has any present plan or proposal that relates to or would result in any of the actions specified in clauses (a) through (j) of Item 4 of Schedule 13D. Item 5. Interest in Securities of the Issuer. The following table sets forth certain information as to the beneficial ownership of the Issuer's common stock by the Reporting Persons as of the date hereof.
Shares Shares Beneficially Owned Purchased Prior to March 27, 2000 March 27, ------------------------- 2000 to March 29, 2000 Issued Shares to be Acquired upon Name Shares Conversion of Debentures ---- ------ ------------------------ Archer McWhorter 301,635(a) 201,736 (c) -0- 21.6% (b) Sleepy Lagoon, Ltd. -0- 201,736 (c) 22,300 9.6% (b) Alvin E. Swanner 301,634 201,735 (d) -0- 21.6% (b) Brion Properties -0- 201,735 (d) 22,300 9.6% (b) William E. Lobeck 289,601 193,767 22,300 21.8% (b) ------- ------ totals 892,870 66,900
Page 8 of 10 (a) The 301,635 shares of the Issuer's common stock beneficially owned by Archer McWhorter are held of record by the McWhorter Family Trust, of which Mr. McWhorter is a Trustee. (b) Based upon 2,124,387 shares of Common Stock outstanding as reported by the Issuer in its most recent annual report on Form 10-K. (c) The 201,736 shares of the Issuer's common stock to be acquired upon conversion in full of the Debentures, as described in Item 3 of Amendment 3 to this Schedule 13D, will be held of record by Sleepy Lagoon, Ltd., a Texas limited partnership of which Mr. McWhorter is the general partner. Such shares will be beneficially owned by Mr. McWhorter. (d) The 201,735 shares of the Issuer's common stock to be acquired upon conversion in full of the Debentures, as described in Item 3 of Amendment 3 to this Schedule 13D, will be held of record by Brion Properties, a Louisiana partnership in commendam of which Mr. Swanner is the general partner. Such shares will be beneficially owned by Mr. Swanner. There have been no transactions in respect of the Issuer's common stock during the past 60 days which are required to be reported in this Item 5 except as described above. Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer. None, other than as described in Items 3 and 4. Item 7. Material to be Filed as Exhibits. 1 Form of Debenture Purchase Agreement, with exhibits. [Incorporated by reference to Schedule 13D Amendment 3 filed October 5, 1999.] 2. Amended Registration Statement on Form S-4/A of Motor Club of America, filed with the Commission on June 3, 1999. [Incorporated by reference to Schedule 13D Amendment 3 filed October 5, 1999.] Page 9 of 10 Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. ARCHER MCWHORTER Date: April 5, 2000 /s/ Archer McWhorter ------------------------------------- SLEEPY LAGOON LTD. Date: April 5, 2000 By: /s/ Archer McWhorter ---------------------------------- Name: Archer McWhorter Title: General Partner ALVIN E. SWANNER Date: April 5, 2000 /s/ Alvin E. Swanner ------------------------------------- BRION PROPERTIES, a Louisiana partnership in commendam. Date: April 5, 2000 By: /s/ Alvin E. Swanner ---------------------------------- Name: Alvin E. Swanner Title: General Partner WILLIAM E. LOBECK Date: April 5, 2000 /s/ William E. Lobeck ------------------------------------- Page 10 of 10 -----END PRIVACY-ENHANCED MESSAGE-----