-----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, KO6T81Oo8srfTWh6UN8UAMIxT0aFBk0MIyiPHF0zSeGXLTrsTxaTvF6qFTz1R1V3 iQy/ifzKeMNbh+xOGdK3DA== 0000950137-96-002672.txt : 19961231 0000950137-96-002672.hdr.sgml : 19961231 ACCESSION NUMBER: 0000950137-96-002672 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 4 FILED AS OF DATE: 19961227 SROS: NONE GROUP MEMBERS: ALPHABET PARTNERS GROUP MEMBERS: ANN LURIE GROUP MEMBERS: ANN LURIE REVOCABLE TRUST GROUP MEMBERS: ARLINGTON LEASING COMPANY GROUP MEMBERS: EQUITY CAPSURE LIMITED PARTNERSHIP GROUP MEMBERS: LFT PARTNERSHIP GROUP MEMBERS: SAMUEL ZELL GROUP MEMBERS: SAMUEL ZELL REVOCABLE TRUST GROUP MEMBERS: ZELL SAMUEL GROUP MEMBERS: ZFT PARTNERSHIP SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: CAPSURE HOLDINGS CORP CENTRAL INDEX KEY: 0000073313 STANDARD INDUSTRIAL CLASSIFICATION: FIRE, MARINE & CASUALTY INSURANCE [6331] IRS NUMBER: 341010356 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-47011 FILM NUMBER: 96686512 BUSINESS ADDRESS: STREET 1: 2 N RIVERSIDE PLZ STE 600 CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: 3128791900 MAIL ADDRESS: STREET 1: TWO NORTH RIVERSIDE PLAZA CITY: CHICAGO STATE: IL ZIP: 60606 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: ZELL SAMUEL CENTRAL INDEX KEY: 0001024193 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: TWO N RIVERSIDE PLAZA SUITE 600 CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: 3124540100 MAIL ADDRESS: STREET 1: TWO N RIVERSIDE PLAZA STREET 2: SUITE 600 CITY: CHICAGO STATE: IL ZIP: 60606 SC 13D/A 1 AMENDMENT 1 TO SCHEDULE 13D 1 -------------------------------------- OMB Number 3235-0145 Expires: August 31, 1991 Estimated average burden hours per response . . . . . . . . . 14.90 -------------------------------------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D UNDER THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. 1 )* ------ Capsure Holdings Corp. - -------------------------------------------------------------------------------- (NAME OF ISSUER) Common Stock, par value $.05 per value - -------------------------------------------------------------------------------- (TITLE OF CLASS OF SECURITIES) 140673104 - -------------------------------------------------------------------------------- (CUSIP NUMBER) Susan Obuchowski Two N. Riverside Plaza, Suite 600, Chicago, IL 60606 (312) 466-4010 - -------------------------------------------------------------------------------- (NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON AUTHORIZED TO RECEIVE NOTICES AND COMMUNICATIONS) December 18, 1996 - -------------------------------------------------------------------------------- (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 [] . Check the following box if a fee is being paid with the statement []. (A fee is not required only if the reporting person: (1) has a previous statement on file reporting beneficial ownership of more than five percent of the class of securities described in Item 1; and (2) has filed no amendment subsequent thereto reporting beneficial ownership of five percent or less of such class.) (See Rule 13d-7). 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. *The remainder of this cover page shall be filled our 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 the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). 1 of 25 2 SCHEDULE 13D CUSIP NO. 140673104 PAGE 2 OF 25 PAGES ---------------- --- ------ ================================================================================ 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Samuel Zell ###-##-#### - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / / (b) /X/ - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* 00 - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED / / PURSUANT TO ITEMS 2(d) OR 2(e) - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION USA - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 50,000 OWNED BY --------------------------------------------------------------- EACH 8 SHARED VOTING POWER REPORTING PERSON WITH 4,039,622 --------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER 50,000 --------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 4,039,622 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,089,622 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / / EXCLUDES CERTAIN SHARES* - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 25.8% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON * IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! 3 SCHEDULE 13D CUSIP NO. 140673104 PAGE 3 OF 25 PAGES ---------------- ----- ------ ================================================================================ 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Sammuel Zell Revocable Trust U/T/A 01/17/90 ###-##-#### - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / / (b) /X/ - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* 00 - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED / / PURSUANT TO ITEMS 2(d) OR 2(e) - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Illinois - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY OWNED BY --------------------------------------------------------------- EACH 8 SHARED VOTING POWER REPORTING PERSON WITH 4,039,622 --------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER --------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 4,039,622 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,039,622 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / / EXCLUDES CERTAIN SHARES* - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 25.6% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON * 00 - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! 4 SCHEDULE 13D CUSIP NO. 140673104 PAGE 4 OF 25 PAGES ---------------- --- ---- ================================================================================ 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Alphabet Partners, an Illinois general partnership 36-3002855 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / / (b) /X/ - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* 00 - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED / / PURSUANT TO ITEMS 2(d) OR 2(e) - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Illinois - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY OWNED BY --------------------------------------------------------------- EACH 8 SHARED VOTING POWER REPORTING PERSON WITH --------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER --------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 730,141 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / / EXCLUDES CERTAIN SHARES* - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.6% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON * PN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! 5 SCHEDULE 13D CUSIP NO. 140673104 PAGE 5 OF 25 PAGES ---------------- --- ------ ================================================================================ 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON ZFT Partnership, an Illinois general partnership 36-3022976 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / / (b) /X/ - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* 00 - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED / / PURSUANT TO ITEMS 2(d) OR 2(e) - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Illinois - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY OWNED BY --------------------------------------------------------------- EACH 8 SHARED VOTING POWER REPORTING PERSON WITH --------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER --------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 730,141 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / / EXCLUDES CERTAIN SHARES* - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.6% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON * PN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! 6 SCHEDULE 13D CUSIP NO. 140673104 PAGE 6 OF 25 PAGES ---------------- --- ------ ================================================================================ 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Ann Lurie ###-##-#### - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / / (b) /X/ - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* 00 - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED / / PURSUANT TO ITEMS 2(d) OR 2(e) - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION USA - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY OWNED BY --------------------------------------------------------------- EACH 8 SHARED VOTING POWER REPORTING PERSON WITH --------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER --------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 973,520 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / / EXCLUDES CERTAIN SHARES* -------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.2% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON * IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! 7 SCHEDULE 13D CUSIP NO. 140673104 PAGE 7 OF 25 PAGES ---------------- --- ------ ================================================================================ 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Ann Lurie Revocable Trust U/T/A 12/22/89 ###-##-#### - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / / (b) /X/ - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* 00 - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED / / PURSUANT TO ITEMS 2(d) OR 2(e) - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Illinois - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY OWNED BY --------------------------------------------------------------- EACH 8 SHARED VOTING POWER REPORTING PERSON WITH --------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER --------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 486,760 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / / EXCLUDES CERTAIN SHARES* - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.1% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON * 00 - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! 8 SCHEDULE 13D CUSIP NO. 140673104 PAGE 8 OF 25 PAGES ---------------- --- ------ ================================================================================ 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON LFT Partnership, an Illinois general partnership 36-6527526 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / / (b) /X/ - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* 00 - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED / / PURSUANT TO ITEMS 2(d) OR 2(e) - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Illinois - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY OWNED BY --------------------------------------------------------------- EACH 8 SHARED VOTING POWER REPORTING PERSON WITH --------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER --------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 486,760 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / / EXCLUDES CERTAIN SHARES* - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.1% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON * PN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! 9 SCHEDULE 13D CUSIP NO. 140673104 PAGE 9 OF 25 PAGES ---------------- --- ------ ================================================================================ 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Equity Capsure Limited Partnership, an Illinois limited partnership Applied for - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / / (b) /X/ - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* 00 - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED / / PURSUANT TO ITEMS 2(d) OR 2(e) - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Illinois - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY OWNED BY --------------------------------------------------------------- EACH 8 SHARED VOTING POWER REPORTING PERSON WITH 4,039,622 --------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER --------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 4,039,622 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,039,622 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / / EXCLUDES CERTAIN SHARES* - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 25.6% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON * PN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! 10 SCHEDULE 13D CUSIP NO. 140673104 PAGE 10 OF 25 PAGES ---------------- --- ------ ================================================================================ 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Arlington Leasing Co. 88-0132727 - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / / (b) /X/ - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* 00 - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED / / PURSUANT TO ITEMS 2(d) OR 2(e) - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Nevada - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY OWNED BY --------------------------------------------------------------- EACH 8 SHARED VOTING POWER REPORTING PERSON WITH --------------------------------------------------------------- 9 SOLE DISPOSITIVE POWER --------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 997,369 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / / EXCLUDES CERTAIN SHARES* - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.3% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON * CO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! 11 ONLY THOSE ITEMS AMENDED ARE REPORTED HEREIN. CAPITALIZED TERMS NOT OTHERWISE DEFINED HEREIN SHALL HAVE THE SAME MEANING AS THEY HAVE IN THE INITIAL SCHEDULE 13D. Item 2. Identity and Background ----------------------- (a) - (c) This Item is being amended to add the following entities as Reporting Persons: 1) Equity Capsure Limited Partnership, an Illinois limited partnership ("Equity"); and 2) Arlington Leasing Co., a Nevada corporation ("Arlington"). The sole general partner of Equity is the Zell Trust. The limited partners of Equity are: the Zell Trust, Alphabet Partners; ZFT Partnership; the Lurie Trust; LFT Partnership and Arlington. The business address for Equity and Arlington is Two N. Riverside Plaza, Chicago, IL 60606-2607. Certain information concerning Equity and Arlington is set forth in Appendix B hereto. The business address for the individuals listed in Appendix B is Two N. Riverside Plaza, Chicago, IL 60606-2607. (d) and (e) None of the Reporting Persons, nor, to the best knowledge of the Reporting Persons, any of the persons listed in Appendix A filed with the initial Schedule 13D or Appendix B attached hereto, have, during the last five years (i) been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors), or (ii) been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was, or is, subject to a judgment, decree or final order enjoining future violations of, or prohibiting activities subject to federal or state securities laws or finding any violation with respect to such laws. Item 3. Source and Amount of Funds or Other Consideration ------------------------------------------------- On December 18, 1996, the following Reporting Persons contributed the number of shares of Common Stock shown opposite such Reporting Persons' name to Equity in return for a partnership interest in Equity:
NUMBER OF SHARES REPORTING PERSON CONTRIBUTED ----------------- -------------------- Zell Trust 608,451 Alphabet Partners 730,141 LFT Partnership 486,760 ZFT Partnership 730,141 Lurie Trust 486,760 Arlington 997,369
No funds were expended by Equity for the contribution of the shares to Equity. Page 11 of 25 12 Item 4. Purpose of Transaction ---------------------- The purpose of the contribution of the shares to Equity was to restructure the Reporting Persons' manner of ownership of the Common Stock reported herein. On December 19, 1996, Equity entered into a Voting Agreement among Equity, Continental Casualty Company ("CCC"), Bruce A. Esselborn and Rod F. Dammeyer ("Voting Agreement") wherein Equity agreed to vote all of the shares of Common Stock beneficially owned by it in favor of a merger of the surety business of CCC with and into the Issuer which will result in a plan or proposal of the type referred to in clauses (a) through (j) of Item 4. of Schedule 13D. The Voting Agreement is attached hereto as Exhibit 3 and is incorporated herein by reference. Additionally, in order to secure Equity's obligation to vote its shares of Common Stock in favor of the above-described merger, Equity appointed CCC as its true and lawful proxy and attorney in fact and granted CCC an Irrevocable Proxy for such purpose. The Irrevocable Proxy is attached hereto as Exhibit 4 and is incorporated herein by reference. Item 5. Interest in Securities of the Issuer ------------------------------------ (a) To the best knowledge of the Reporting Persons, there are 15,777,749 shares of Common Stock outstanding as of the date hereof. As of the date hereof, the Reporting Persons may be deemed to own the number of shares of Common Stock opposite their name which represents the following percentages of the shares of Common Stock outstanding:
REPORTING PERSON NUMBER OF SHARES PERCENTAGE OF OUTSTANDING ----------------- ------------------------- ---------------------------------- Samuel Zell 4,089,622(1) 25.8%(1) Zell Trust 4,039,622(1) 25.6%(1) Alphabet Partners 730,141(2) 4.6%(2) ZFT Partnership 730,141(2) 4.6%(2) Ann Lurie 973,520(2)(3) 6.2%(2)(3) Lurie Trust 486,760(2) 3.1%(2) LFT Partnership 486,760(2) 3.1%(2) Equity 4,039,622 25.6% Arlington 997,369(2) 6.3%(2)
(1) Includes 4,039,622 shares owned by Equity and, for Mr. Zell only, options to purchase 50,000 shares which are currently exercisable and beneficially owned by Mr. Zell. (2) Such shares are included in the 4,039,622 shares beneficially owned by Equity. (3) Includes shares reported herein by the Lurie Trust and LFT Partnership. Page 12 of 25 13 (b) Equity, the Zell Trust, as sole general partner of Equity, and Mr. Zell, as the sole trustee of the Zell Trust, share the power to vote or to direct the vote of and share the power to dispose or to direct the disposition of the 4,039,622 shares beneficially owned by Equity. Mr. Zell and the Zell Trust disclaim beneficial ownership of the 4,039,622 shares beneficially owned by Equity, except for 2,068,733 shares attributable to the Zell Trust, Alphabet Partnership and ZFT Partnership through such entities ownership in Equity. Mr. Zell has the sole power to vote or to direct the vote of (assuming the exercise of the options to purchase 50,000 shares of Common Stock) and the sole power to dispose or to direct the disposition of the options to purchase 50,000 shares of Common Stock beneficially owned by him. Arthur A. Greenberg, as the sole trustee of the ten trusts which are the general partners of Alphabet Partners, has no power to vote or to direct the vote and no power to dispose or to direct the disposition of the 4,039,622 shares beneficially owned by Equity or of the 730,141 shares attributable to Alphabet Partners through its ownership in Equity. Sheli Z. Rosenberg, as sole trustee of the fifteen trusts which are the general partners of ZFT Partnership, has no power to vote or to direct the vote of and no power to dispose or to direct the disposition of the 4,039,622 shares beneficially owned by Equity or of the 730,141 shares attributable to ZFT Partnership through its ownership in Equity. Ann Lurie, as the trustee of the Lurie Trust and as the trustee of the six trusts which are the general partners of LFT partnership, has no power to vote or to direct the vote of and no power to dispose or to direct the disposition of the 4,039,622 shares beneficially owned by Equity or of the 486,760 shares attributable to each of the Lurie Trust and LFT Partnership through their ownership in Equity. (c) The only transactions in Common Stock by the Reporting Persons was the contribution of shares to Equity previously described in Item 3. hereto. (d) and (e) Not applicable. Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer --------------------------------------------------------------------- On December 19, 1996, Equity entered into the Voting Agreement among Equity, CCC, Bruce A. Esselborn and Rod F. Dammeyer. Pursuant to the Voting Agreement, Equity agreed to vote all of its shares of Common Stock in favor of a merger of the surety business of CCC with and into the Issuer. The Voting Agreement is attached hereto as Exhibit 3 and is incorporated herein by reference. Additionally, in order to secure Equity's obligation to vote its shares of Common Stock in favor of the above-described merger, Equity appointed CCC as its true and lawful proxy and attorney in fact and granted CCC an Irrevocable Proxy for such purpose. The Irrevocable Proxy is attached hereto as Exhibit 4 and is incorporated herein by reference. As previously described in the original Schedule 13D, the following individuals disclosed in that Schedule 13D's Item 2. hold the following positions with the Issuer: (i) Samuel Zell is Chairman of the Board of Directors and Chief Executive Officer; (ii) Sheli Z. Rosenberg is Vice President, Assistant Secretary and a member of the Board of Directors; and Page 13 of 25 14 (iii) Arthur A. Greenberg is Senior Vice President and Treasurer. Item 7. Materials to Be Filed as Exhibits --------------------------------- Exhibit 3 - Voting Agreement among Equity, CCC, Bruce A. Esselborn and Rod F. Dammeyer. Exhibit 4 - Irrevocable Proxy of Equity. Exhibit 5 - Amended and Restated Joint Filing Agreement dated as of December 18, 1996. Page 14 of 25 15 SIGNATURES After reasonable inquiry, and the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. /s/ Samuel Zell /s/ Ann Lurie - ---------------------- ------------------------ Samuel Zell Ann Lurie Samuel Zell Revocable Trust Ann Lurie Revocable Trust U/T/A 01/17/90 U/T/A 12/22/89 By: /s/ Samuel Zell By: /s/ Ann Lurie -------------------- ----------------------------- Samuel Zell, Trustee Ann Lurie, Trustee Alphabet Partners, an Illinois LFT Partnership general partnership By: Jesse Trust, a general partner By: SZA Trust, a general partner By: /s/ Arthur A. Greenberg By: /s/ Ann Lurie ---------------------------- ------------------------------ Arthur A. Greenberg, Trustee Ann Lurie, Trustee ZFT Partnership, an Illinois Equity Capsure Limited Partnership, general partnership an Illinois limited partnership By: Samuel Zell Trust, By: Samuel Zell Revocable Trust a general partner U/T/A 1/17/90, general partner By: /s/ Sheli Z. Rosenberg By: /s/ Samuel Zell ----------------------------- ---------------------------------- Sheli Z. Rosenberg, Trustee Samuel Zell, Trustee Arlington Leasing Co., a Nevada corporation By: /s/ Samuel Zell ----------------------------- Samuel Zell, President DATED: December 26, 1996 Page 15 of 25 16 EXHIBIT INDEX EXHIBIT NUMBER DESCRIPTION PAGE - -------------- --------------------------- ---- 1 Amendment Number 7 to * Schedule 13D for Equity Holdings. 2 Joint Filing Agreement * dated September 24, 1996. 3 Voting Agreement among 18 Equity, CCC, Bruce A. Esselborn and Rod F. Dammeyer 4 Irrevocable Proxy of Equity 22 5 Amended and Restated Joint 24 Filing Agreement dated December 18, 1996. * previously filed. Page 16 of 25 17 APPENDIX B SCHEDULE 13D AND AMENDMENTS THERETO CUSIP NUMBER 140673104 Information concerning Samuel Zell, Samuel Zell Revocable Trust under Trust Agreement dated January 17 ,1990, Alphabet Partners, an Illinois general partnership, Ann Lurie, Ann Lurie Revocable Trust under Trust Agreement dated December 22, 1989 and LFT Partnership, an Illinois general partnership, was filed in Appendix A to the original Schedule 13D and is incorporated herein by reference. The following information relates to the two new Reporting Persons, Equity Capsure Limited Partnership, an Illinois limited partnership, and Arlington Leasing Co., a Nevada corporation. Equity Capsure Limited Partnership is an Illinois limited partnership whose sole general partner is the Samuel Zell Revocable Trust under Trust Agreement dated January 17, 1990. Information concerning the general partner was contained in Appendix A. Arlington Leasing Co. is a Nevada corporation. Its directors are: Samuel Zell, Sheli Z. Rosenberg, Timothy Callahan and Donald J. Liebentritt. Information concerning Mr. Zell and Mrs. Rosenberg was contained in Appendix A. Timothy Callahan is Chief Executive Officer of Equity Office Holdings, L.L.C., an owner and operator of office buildings. Mr. Callahan is a citizen of the United States of America. Donald J. Liebentritt is an Executive Vice President and General Counsel of EGI and a member and Chairman of the Board of Rosenberg & Liebentritt, P.C. Mr. Liebentritt is a citizen of the United States of America. The officers of Arlington Leasing Co. are as follows: Samuel Zell Chairman of the Board and President Timothy Callahan Vice President Arthur A. Greenberg Vice President Donald J. Liebentritt Vice President Sheli Z. Rosenberg Vice President Nancy Kresek Treasurer Information for all officers, except Nancy Kresak, was contained in Appendix A or earlier in this Appendix B. Nancy Kresek is Treasurer of EGI and is a citizen of the United States of America. Page 17 of 25 EX-3 2 VOTING AGREEMENT 1 Exhibit 3 VOTING AGREEMENT This Voting Agreement ("Agreement") is made this 19th day of December, 1996 among Equity Capsure Limited Partnership, an Illinois limited partnership (the "Major Stockholder"), Continental Casualty Company, an Illinois corporation ("CCC"), Bruce A. Esselborn, an individual residing in the State of Georgia, Rod F. Dammeyer, an individual residing in the State of Illinois, and any other signatory set forth on the signature page hereto (collectively, the "Stockholders"). WHEREAS, the Stockholders each hold shares of the common stock (the "Stock") of Capsure Holdings Corp., a Delaware corporation (the "Company") or options to acquire Stock; and WHEREAS, as a condition to CCC's agreement to merge its surety business with and into the Company (the "Merger"), as an inducement for CCC to enter into the Reorganization Agreement, dated as of December 19, 1996 (the "Reorganization Agreement") among the Company, CCC, CNA Surety Corporation, a Delaware corporation ("Newco") and Surety Acquisition Company, a Delaware corporation ("Acquisition"), as an inducement for Acquisition and Newco to enter into the Reorganization Agreement and as an inducement for Newco to agree to enter into the Registration Rights Agreement between Newco and the Major Stockholder in the form attached to the Reorganization Agreement as Annex C, and to effectuate the Merger, the Stockholders have agreed to enter into this Agreement, to be specifically enforceable against each of them, pursuant to which they agree to vote their shares of the Stock in the manner and for the purpose specified herein. NOW, THEREFORE, in consideration of the mutual covenants contained herein, the Stockholders hereby agree as follows: 1. Voting Agreement. Each of the Stockholders hereby agrees to vote all of the Stock beneficially owned, directly or indirectly, by him or it (and all Stock issued pursuant to the exercise of stock options) in favor of the Merger between the Company and Acquisition, as contemplated by the Reorganization Agreement. Each of the Stockholders hereby agrees that he or it will vote such shares of Stock against any other competing proposal or offer for a merger, consolidation, business combination, sale of substantial assets, sale of shares of capital stock involving a change of control within the meaning of Section 203 of the Delaware General Corporation Law (including, without limitation, by way of tender offer) or similar transactions involving the Company or any of its subsidiaries for the duration of this Agreement; provided, however, that nothing contained herein shall prevent any Stockholder from transferring, selling or otherwise disposing of Stock held by such Stockholder provided any such transferee agrees in a written instrument satisfactory to CCC to be bound by the terms hereof. It is expressly understood and agreed by each of the Stockholders that this Agreement is intended to, and does hereby, create and constitute a voting agreement within the meaning of Section 218(c) of the General Corporation Law of the State of Delaware, as amended, and not a voting trust agreement under Section 218(a) thereof. 2. Irrevocable Proxy. In order to secure each Stockholder's obligation to vote his or its Stock and other voting securities of the Company in accordance with the provisions of Section 1, each Stockholder (other than CCC) hereby appoints CCC (the "Proxy") as its true and lawful proxy and Page 18 of 25 2 attorney-in-fact, with full power of substitution, to vote all of his or its Stock and other voting securities of the Company as expressly provided for in Section 1. The Proxy may exercise the irrevocable proxy granted to it hereunder at any time any party fails to comply with the provisions of this Agreement. The proxies and powers granted by each Stockholder pursuant to this Section 2 are coupled with an interest and are given to secure the performance of the Stockholder's obligations under this Agreement. Such proxies and powers will be irrevocable with respect to the matters set forth in Section 1 for the term set forth in Section 5, and, with respect to any individual, will survive the death, incompetency and disability of such Stockholder. 3. Representations of Stockholders. Each Stockholder hereby represents and warrants to each of the other Stockholders that (a) he or it owns and has the right to vote the number of shares of the Stock set forth opposite his name on Exhibit A attached hereto, (b) he or it has full power to enter into this Agreement, and (c) he or it is not a party to any proxy, voting trust or other agreement which is inconsistent with or conflicts with the provisions of this Agreement, and no Stockholder will grant any proxy or become party to any voting trust or other agreement which is inconsistent with or conflicts with the provisions of this Agreement. All representations and warranties contained herein or made in writing by any party in connection herewith will survive the execution and delivery of this Agreement, regardless of any investigation made by any party. 4. Specific Performance. The parties hereto agree that irreparable damage would occur in the event any provision of this Agreement was not performed in accordance with the terms hereof and that the parties shall be entitled to specific performance of the terms hereof, in addition to any other remedy at law or in equity. 5. Term. This Agreement shall remain in effect until the earlier of (i) December 31, 1997; (ii) the date on which the Reorganization Agreement is terminated pursuant to Sections 8.1.1, 8.1.2 (as may be amended from time to time by the parties thereto and provided such termination does not result from a breach by the Company of the Reorganization Agreement), 8.1.3 (other than due to an order, decree, ruling or other action resulting from an action or proceeding instituted by any of the parties hereto or to the Reorganization Agreement or any affiliates of such parties), 8.1.5 or 8.1.7 (provided no Stockholder is in breach of this Agreement) of the Reorganization Agreement. 6. WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHTS TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT, AND CONSENTS TO THE GRANTING OF SUCH LEGAL OR EQUITABLE RELIEF AS IS DEEMED APPROPRIATE BY THE COURT. 7. General Provisions. (a) All of the covenants and agreements contained in this Agreement shall be binding upon, and inure to the benefit of, the respective parties and their successors, assigns, heirs, executors, administrators and other legal representatives, as the case may be. Nothing contained herein shall prevent any of the parties hereto from assigning their rights hereunder. (b) This Agreement may be executed in two or more counterparts, each of which will be deemed an original but all of which together shall constitute one and the same instrument. The parties Page 19 of 25 3 hereto agree that facsimile transmissions of original signatures shall constitute and be accepted as original signatures. (c) If any provision of this Agreement shall be declared void or unenforceable by any court or administrative board of competent jurisdiction, such provision shall be deemed to have been severed from the remainder of this Agreement and this Agreement shall continue in all respects to be valid and enforceable. (d) No waiver of any breach of this Agreement extended by any party hereto to any other party shall be construed as a waiver of any rights or remedies of any other party hereto or with respect to any subsequent breach. (e) Whenever the context of this Agreement shall so require, the use of the singular number shall include the plural and the use of any gender shall include all genders. (f) This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to principles of conflicts of law; however, any action or proceeding relating to this Agreement shall be brought only in and decided by the federal or state courts in Chicago, Illinois, such courts being a proper forum in which to adjudicate such action or proceeding, and each party hereby waives any claim of inconvenient forum. (g) The language used in this Agreement shall be deemed to be the language chosen by the parties to express their mutual intent and no rule of strict construction will be applied against any party. Page 20 of 25 4 IN WITNESS WHEREOF, each of the Stockholders has executed this Agreement as of the date first written above. EQUITY CAPSURE LIMITED PARTNERSHIP By: -------------------------------- Name: ------------------------------ Its: ------------------------------- CONTINENTAL CASUALTY COMPANY By: --------------------------------- Name: ------------------------------- Its: ------------------------------- ------------------------------------ Bruce A. Esselborn ------------------------------------ Rod F. Dammeyer Page 21 of 25 EX-4 3 IRREVOCABLE PROXY 1 Exhibit 4 IRREVOCABLE PROXY The undersigned agrees to, and hereby grants to Continental Casualty Company, an Illinois corporation ("CCC") an irrevocable proxy pursuant to the provisions of Section 212 of the Delaware General Corporation Law to vote all shares of common stock (the "Stock") of Capsure Holdings Corporation, a Delaware corporation, (the "Company") owned by the undersigned only in connection with the matters and in accordance with Section 1 of the Voting Agreement (the "Voting Agreement") dated as of December 19, 1996, among CCC, the undersigned, Bruce A. Esselborn and Rod F. Dammeyer. The undersigned hereby affirms that this proxy is coupled with an interest and is irrevocable. It is further understood by the undersigned that this proxy may be exercised by CCC for an amount of time equal to the term of the Voting Agreement set forth in Section 5 thereto. THIS PROXY SHALL REMAIN IN FULL FORCE AND EFFECT AND BE ENFORCEABLE AGAINST ANY DONEE, TRANSFEREE OR ASSIGNEE OF THE STOCK. Dated this ____ day of December, 1996. EQUITY CAPSURE LIMITED PARTNERSHIP ___________________________________ By:________________________________ Its:_______________________________ Page 22 of 25 2 EXHIBIT A Equity Capsure Limited Partnership 4,039,622 shares Continental Casualty Company 10 shares Bruce A. Esselborn 74,907 shares Rod F. Dammeyer Options to acquire 20,000 shares Pagee 23 of 25 EX-5 4 AMENDED AND RESTATED JOINT FILING AGREEMENT 1 Exhibit 5 AMENDED AND RESTATED JOINT FILING AGREEMENT AGREEMENT dated as of December 18, 1996 among Samuel Zell; Samuel Zell as Trustee of the Samuel Zell Revocable Trust under trust agreement dated January 17, 1990; Alphabet Partners, an Illinois general partnership; ZFT Partnership, an Illinois general partnership; Ann Lurie; Ann Lurie as Trustee of the Ann Lurie Revocable Trust under trust agreement dated December 22, 1989; LFT Partnership, an Illinois general partnership; Equity Capsure Limited Partnership, an Illinois limited partnership; and Arlington Leasing Co., a Nevada corporation (collectively the "Reporting Persons"). WHEREAS, the Reporting Persons beneficially own shares of Common Stock, par value $.05 per share, of Capsure Holdings Corp., a Delaware Corporation. WHEREAS, the parties hereto may be deemed to constitute a "group" for purposes of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended (the "Act"); and WHEREAS, each of the parties hereto desire by this Agreement to provide for the joint filing of a Schedule 13D, and all amendments thereto, with the Securities and Exchange Commission. NOW, THEREFORE, the parties hereto agree as follows: 1. The parties hereto will join in the preparation and filing of a single statement containing the information required by Schedule 13D, and all amendments thereto, and the Schedule 13D and all such amendments will be filed on behalf of each party hereto; 2. Each party hereto will be responsible for the timely filing of the Schedule 13D, and all amendments thereto, and for the completeness and accuracy of the information concerning such party contained therein. No party hereto will be responsible for the completeness or accuracy of the information concerning any other party contained in the Schedule 13D or any amendment thereto, except to the extent such party knows or has reason to believe that such information in inaccurate. 3. Susan Obuchowski will be designated as the person authorized to receive notices and communications with respect to the Schedule 13D and all amendments thereto. 4. This Agreement may be executed in counterparts, all of which when taken together will constitute one and the same instrument. Page 24 of 25 2 IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first above written. /s/ Samuel Zell /s/ Ann Lurie - ------------------------------ --------------------------- Samuel Zell Ann Lurie Samuel Zell Revocable Trust Ann Lurie Revocable Trust U/T/A 01/17/90 U/T/A 12/22/89 By: /s/ Samuel Zell By: /s/ Ann Lurie -------------------------- ------------------------ Samuel Zell, Trustee Ann Lurie, Trustee Alphabet Partners, an Illinois LFT Partnership general partnership By: Jesse Trust, a general partner By: SZA Trust, a general partner By: /s/ Arthur A. Greenberg By: /s/ Ann Lurie ---------------------------- ------------------------- Arthur A. Greenberg, Trustee Ann Lurie, Trustee ZFT Partnership, an Illinois Equity Capsure Limited Partnership general partnership By: Samuel Zell Revocable Trust By: Samuel Zell Trust, a general partner U/T/A 1/17/90 By: /s/ Sheli Z. Rosenberg By: /s/ Samuel Zell ------------------------- --------------------------- Sheli Z. Rosenberg, Trustee Samuel Zell, President Arlington Leasing Co., a Nevada corporation By: /s/ Samuel Zell ----------------------------- Samuel Zell, President Page 25 of 25 -----END PRIVACY-ENHANCED MESSAGE-----