SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* Campbell Kenneth Lind III (Last) (First) (Middle) C/O MATLINPATTERSON GLOBAL ADVISERS LLC 520 MADISON AVENUE (Street) NEW YORK NY 10022 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 07/29/2008	3. Issuer Name and Ticker or Trading Symbol STANDARD PACIFIC CORP /DE/ [ SPF ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner Officer (give title below) Other (specify below)	5. If Amendment, Date of Original Filed (Month/Day/Year)
			6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Senior Convertible Preferred Stock	(1)	(2)	Junior Convertible Preferred Stock, par value $0.01 per shar	381,250(3)(4)	$1,000	D
Warrant	06/27/2008	05/26/2015(5)(6)(7)	Senior Convertible Preferred Stock, par value $0.01 per shar(8)	272,670(3)(4)	$1,344.26	D

Explanation of Responses:

1. The senior convertible preferred stock of Standard Pacific Corp. (the "Issuer") is not convertible until the receipt of approval of such conversion by the stockholders of the Issuer (the "Stockholder Approval") and upon receipt of the Stockholder Approval, the shares of Senior Convertible Preferred Stock will automatically convert into shares of junior convertible preferred stock of the Issuer (the "Junior Convertible Preferred Stock").

2. The Senior Convertible Preferred Stock has no expiration date.

3. Each share of Senior Convertible Preferred Stock is convertible into such number of shares of Junior Convertible Preferred Stock equal to the liquidation preference of the Senior Convertible Preferred Stock divided by the applicable conversion price of the Senior Convertible Preferred Stock. If the Stockholder Approval is obtained by September 15, 2008 and assuming that there are no anti-dilution adjustments to the conversion price of the Senior Convertible Preferred Stock, each share of Senior Convertible Preferred Stock would convert into one share of Junior Convertible Preferred Stock.

4. Each share of Junior Convertible Preferred Stock is convertible into such number of shares of common stock of the Issuer (the "Common Stock") equal to $1,000 by the applicable conversion price of the Junior Convertible Preferred Stock ($3.05 as of the date hereof, subject to anti-dilution adjustment); provided that upon such conversion the holder thereof cannot own more than 49% of the total voting power of the Issuer.

5. The Warrant is exercisable, in whole or in part, at any time from May 26, 2008 until its expiration. Notwithstanding, (i) if the trading price of a share of Common Stock exceeds $7.50 for any 20 days of 30 consecutive trading days, the right to purchase 25 percent of the shares originally represented by the Warrant will expire upon the 90th day following the date of notice by the Issuer of such event, subject to extension in certain circumstances,

6. (ii) if the trading price of a share of Common Stock exceeds $9.00 for any 20 days of 30 consecutive trading days, the right to purchase an additional 25 percent of the shares originally represented by the Warrant will expire upon the 90th day following the date of notice by the Issuer of such event, subject to extension in certain circumstances, and

7. (iii) if the trading price of a share of Common Stock exceeds $10.50 for any 20 days of 30 consecutive trading days, the right to purchase the remaining 50 percent of the shares originally represented by the Warrant will expire upon the 90th day following the date of notice by the Issuer of such event, subject to extension in certain circumstances. For the avoidance of doubt, each of the events in clauses (i), (ii) and (iii) above may occur at the same time.

8. Upon receipt of the Stockholder Approval, the Warrant is exercisable for shares of Junior Convertible Preferred Stock.

Remarks:

1. MP CA Homes LLC is the direct owner of 381,250 shares of Senior Convertible Preferred Stock and the Warrant to purchase 272,670 shares of Senior Preferred Stock. MatlinPatterson Global Opportunities Partners III L.P. and MatlinPatterson Global Opportunities Partners (Cayman) III L.P. (together, "the Funds"), hold 100 percent of the membership interests in MP CA Homes LLC. MatlinPatterson Global Partners III L.P. (the "General Partner") is the general partner of the Funds. MatlinPatterson Global Advisers LLC (the "Adviser") is the investment adviser to the Funds. MatlinPatterson Asset Management LLC holds 100 percent of the voting interest and equity of the Adviser and the General Partner. MatlinPatterson LLC holds 100 percent of the equity of MatlinPatterson Asset Management LLC. Other than MP CA Homes LLC, each of the foregoing reporting persons disclaims beneficial ownership of the shares held by MP CA Homes LLC, except to the extent that such report person holds an indirect pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose. 2. Although the Reporting Person does not have voting or investment control over shares held by MP CA Homes LLC, the Reporting Person may be deemed to have an indirect pecuniary interest in such shares through his indirect interest in a limited partner which holds an investment interest and carried interest in the Funds. His exact pecuniary interest therein is not readily determinable because it is subject to several variables, including without limitation, the internal rates of return of the Funds overall and with respect to their indirect investment in the Issuer. The Reporting Person disclaims beneficial ownership of any of the reported securities except to the extent of his pecuniary interest therein.

	/s/ Kenneth L. Campbell	07/31/2008
	** Signature of Reporting Person	Date
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