-----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, CYK+OPUd/p5if4M3UWUbFCAZO2omNrH+vXhsKIhtzU9zklWiNnVfJxCM7/tNXli/ S66gGGh0qnOBxJqPlDO0Ug== 0000894579-96-000120.txt : 19961206 0000894579-96-000120.hdr.sgml : 19961206 ACCESSION NUMBER: 0000894579-96-000120 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19961205 SROS: NONE SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: MK RAIL CORP CENTRAL INDEX KEY: 0000919563 STANDARD INDUSTRIAL CLASSIFICATION: RAILROAD EQUIPMENT [3743] IRS NUMBER: 820461010 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-44069 FILM NUMBER: 96676051 BUSINESS ADDRESS: STREET 1: 1200 REEDSDALE ST CITY: PITTSBURGH STATE: PA ZIP: 15233 BUSINESS PHONE: 4122372250 MAIL ADDRESS: STREET 1: 1200 REEDSDALE STREET CITY: PITTSBURGH STATE: PA ZIP: 15233 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: DECHERT PRICE & RHOADS/ NY/ FA CENTRAL INDEX KEY: 0000894579 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] STATE OF INCORPORATION: DC FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 477 MADISON AVENUE CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 2026263352 MAIL ADDRESS: STREET 1: 477 MADISON AVENUE CITY: NEW YORK STATE: NY ZIP: 10022 FORMER COMPANY: FORMER CONFORMED NAME: DECHERT PRICE & RHOADS/ NY/ FA DATE OF NAME CHANGE: 19950407 SC 13D/A 1 MK RAIL CORPORATION 13D --------------------------------- QMB APPROVAL --------------------------------- QMB Number: 3235-0145 Expires: October 31, 1994 Estimated average burden hours per form............14.90 --------------------------------- SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 1)* MK Rail Corporation - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock, par value $.01 per share - -------------------------------------------------------------------------------- (Title of Class of Securities) 00055305T-100 --------------------------------- (CUSIP Number) Edwin H. Morgens, 10 East 50th Street, New York, NY 10022, (212) 705-0500 - ------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) November 25, 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 out 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). Page 1 of 18 Pages Exhibit Index Appears on Page 18 SCHEDULE 13D CUSIP No. 00055305T-100 Page 2 of 18 Pages _________________________________________________________________ 1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Morgens Waterfall Income Partners 13-2829306 _________________________________________________________________ 2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [x] _________________________________________________________________ 3) SEC USE ONLY _________________________________________________________________ 4) SOURCE OF FUNDS* WC _________________________________________________________________ 5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ] _________________________________________________________________ 6) CITIZENSHIP OR PLACE OF ORGANIZATION New York State _________________________________________________________________ NUMBER 7) SOLE VOTING POWER OF 0 - See Response to Item 5 SHARES _______________________________________________ BENEFICIALLY 8) SHARED VOTING POWER OWNED BY 0 EACH _______________________________________________ REPORTING 9) SOLE DISPOSITIVE POWER PERSON 0 - See Response to Item 5 WITH _______________________________________________ 10) SHARED DISPOSITIVE POWER 0 _________________________________________________________________ 11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 _________________________________________________________________ 12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] _________________________________________________________________ 13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0% _________________________________________________________________ 14) TYPE OF REPORTING PERSON* PN _________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D CUSIP No. 00055305T-100 Page 3 of 18 Pages _________________________________________________________________ 1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Restart Partners, L.P. 13-3502415 _________________________________________________________________ 2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [x] _________________________________________________________________ 3) SEC USE ONLY _________________________________________________________________ 4) SOURCE OF FUNDS* WC _________________________________________________________________ 5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ] _________________________________________________________________ 6) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware _________________________________________________________________ NUMBER 7) SOLE VOTING POWER OF 0 - See Response to Item 5 SHARES _______________________________________________ BENEFICIALLY 8) SHARED VOTING POWER OWNED BY 0 EACH _______________________________________________ REPORTING 9) SOLE DISPOSITIVE POWER PERSON 0 - See Response to Item 5 WITH _______________________________________________ 10) SHARED DISPOSITIVE POWER 0 _________________________________________________________________ 11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 _________________________________________________________________ 12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] _________________________________________________________________ 13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0% _________________________________________________________________ 14) TYPE OF REPORTING PERSON* PN _________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D CUSIP No. 00055305T-100 Page 4 of 18 Pages _________________________________________________________________ 1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Restart Partners II, L.P. 13-3553296 _________________________________________________________________ 2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [x] _________________________________________________________________ 3) SEC USE ONLY _________________________________________________________________ 4) SOURCE OF FUNDS* WC _________________________________________________________________ 5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ] _________________________________________________________________ 6) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware _________________________________________________________________ NUMBER 7) SOLE VOTING POWER OF 0 - See Response to Item 5 SHARES _______________________________________________ BENEFICIALLY 8) SHARED VOTING POWER OWNED BY 0 EACH _______________________________________________ REPORTING 9) SOLE DISPOSITIVE POWER PERSON 0 - See Response to Item 5 WITH _______________________________________________ 10) SHARED DISPOSITIVE POWER 0 _________________________________________________________________ 11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 _________________________________________________________________ 12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] _________________________________________________________________ 13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0% _________________________________________________________________ 14) TYPE OF REPORTING PERSON* PN _________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D CUSIP No. 00055305T-100 Page 5 of 18 Pages _________________________________________________________________ 1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Restart Partners III, L.P. 13-3618702 _________________________________________________________________ 2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [x] _________________________________________________________________ 3) SEC USE ONLY _________________________________________________________________ 4) SOURCE OF FUNDS* WC _________________________________________________________________ 5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ] _________________________________________________________________ 6) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware _________________________________________________________________ NUMBER 7) SOLE VOTING POWER OF 0 - See Response to Item 5 SHARES _______________________________________________ BENEFICIALLY 8) SHARED VOTING POWER OWNED BY 0 EACH _______________________________________________ REPORTING 9) SOLE DISPOSITIVE POWER PERSON 0 - See Response to Item 5 WITH _______________________________________________ 10) SHARED DISPOSITIVE POWER 0 _________________________________________________________________ 11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 _________________________________________________________________ 12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] _________________________________________________________________ 13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0% _________________________________________________________________ 14) TYPE OF REPORTING PERSON* PN _________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D CUSIP No. 00055305T-100 Page 6 of 18 Pages _________________________________________________________________ 1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Restart Partners IV, L.P. 13-3687058 _________________________________________________________________ 2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [x] _________________________________________________________________ 3) SEC USE ONLY _________________________________________________________________ 4) SOURCE OF FUNDS* WC _________________________________________________________________ 5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ] _________________________________________________________________ 6) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware _________________________________________________________________ NUMBER 7) SOLE VOTING POWER OF 0 - See Response to Item 5 SHARES _______________________________________________ BENEFICIALLY 8) SHARED VOTING POWER OWNED BY 0 EACH _______________________________________________ REPORTING 9) SOLE DISPOSITIVE POWER PERSON 0 - See Response to Item 5 WITH _______________________________________________ 10) SHARED DISPOSITIVE POWER 0 _________________________________________________________________ 11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 _________________________________________________________________ 12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] _________________________________________________________________ 13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0% _________________________________________________________________ 14) TYPE OF REPORTING PERSON* PN _________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D CUSIP No. 00055305T-100 Page 7 of 18 Pages _________________________________________________________________ 1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Restart Partners V, L.P. 13-3812417 _________________________________________________________________ 2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [x] _________________________________________________________________ 3) SEC USE ONLY _________________________________________________________________ 4) SOURCE OF FUNDS* WC _________________________________________________________________ 5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ] _________________________________________________________________ 6) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware _________________________________________________________________ NUMBER 7) SOLE VOTING POWER OF 0 - See Response to Item 5 SHARES _______________________________________________ BENEFICIALLY 8) SHARED VOTING POWER OWNED BY 0 EACH _______________________________________________ REPORTING 9) SOLE DISPOSITIVE POWER PERSON 0 - See Response to Item 5 WITH _______________________________________________ 10) SHARED DISPOSITIVE POWER 0 _________________________________________________________________ 11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 _________________________________________________________________ 12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] _________________________________________________________________ 13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0% _________________________________________________________________ 14) TYPE OF REPORTING PERSON* PN _________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D CUSIP No. 00055305T-100 Page 8 of 18 Pages _________________________________________________________________ 1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON The Common Fund for Non-Profit Organizations 23-7037968 _________________________________________________________________ 2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [x] _________________________________________________________________ 3) SEC USE ONLY _________________________________________________________________ 4) SOURCE OF FUNDS* WC _________________________________________________________________ 5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ] _________________________________________________________________ 6) CITIZENSHIP OR PLACE OF ORGANIZATION New York State _________________________________________________________________ NUMBER 7) SOLE VOTING POWER OF 0 - See Response to Item 5 SHARES _______________________________________________ BENEFICIALLY 8) SHARED VOTING POWER OWNED BY 0 EACH _______________________________________________ REPORTING 9) SOLE DISPOSITIVE POWER PERSON 0 - See Response to Item 5 WITH _______________________________________________ 10) SHARED DISPOSITIVE POWER 0 _________________________________________________________________ 11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 _________________________________________________________________ 12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] _________________________________________________________________ 13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0% _________________________________________________________________ 14) TYPE OF REPORTING PERSON* CO _________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D CUSIP No. 00055305T-100 Page 9 of 18 Pages _________________________________________________________________ 1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Morgens, Waterfall, Vintiadis & Company, Inc. 13-2674766 _________________________________________________________________ 2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [x] _________________________________________________________________ 3) SEC USE ONLY _________________________________________________________________ 4) SOURCE OF FUNDS* AF _________________________________________________________________ 5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ] _________________________________________________________________ 6) CITIZENSHIP OR PLACE OF ORGANIZATION New York State _________________________________________________________________ NUMBER 7) SOLE VOTING POWER OF 0 - See Response to Item 5 SHARES _______________________________________________ BENEFICIALLY 8) SHARED VOTING POWER OWNED BY 0 EACH _______________________________________________ REPORTING 9) SOLE DISPOSITIVE POWER PERSON 0 - See Response to Item 5 WITH _______________________________________________ 10) SHARED DISPOSITIVE POWER 0 _________________________________________________________________ 11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 _________________________________________________________________ 12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] _________________________________________________________________ 13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0% _________________________________________________________________ 14) TYPE OF REPORTING PERSON* CO _________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D CUSIP No. 00055305T-100 Page 10 of 18 Pages _________________________________________________________________ 1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Edwin H. Morgens ###-##-#### _________________________________________________________________ 2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [x] _________________________________________________________________ 3) SEC USE ONLY _________________________________________________________________ 4) SOURCE OF FUNDS* AF _________________________________________________________________ 5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ] _________________________________________________________________ 6) CITIZENSHIP OR PLACE OF ORGANIZATION United States _________________________________________________________________ NUMBER 7) SOLE VOTING POWER OF 0 - See Response to Item 5 SHARES _______________________________________________ BENEFICIALLY 8) SHARED VOTING POWER OWNED BY 0 EACH _______________________________________________ REPORTING 9) SOLE DISPOSITIVE POWER PERSON 0 - See Response to Item 5 WITH _______________________________________________ 10) SHARED DISPOSITIVE POWER 0 _________________________________________________________________ 11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 _________________________________________________________________ 12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] _________________________________________________________________ 13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0% _________________________________________________________________ 14) TYPE OF REPORTING PERSON* IN _________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! SCHEDULE 13D CUSIP No. 00055305T-100 Page 11 of 18 Pages _________________________________________________________________ 1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Bruce Waterfall ###-##-#### _________________________________________________________________ 2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [x] _________________________________________________________________ 3) SEC USE ONLY _________________________________________________________________ 4) SOURCE OF FUNDS* AF _________________________________________________________________ 5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ] _________________________________________________________________ 6) CITIZENSHIP OR PLACE OF ORGANIZATION United States _________________________________________________________________ NUMBER 7) SOLE VOTING POWER OF 0 - See Response to Item 5 SHARES _______________________________________________ BENEFICIALLY 8) SHARED VOTING POWER OWNED BY 0 EACH _______________________________________________ REPORTING 9) SOLE DISPOSITIVE POWER PERSON 0 - See Response to Item 5 WITH _______________________________________________ 10) SHARED DISPOSITIVE POWER 0 _________________________________________________________________ 11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 _________________________________________________________________ 12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] _________________________________________________________________ 13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0% _________________________________________________________________ 14) TYPE OF REPORTING PERSON* IN _________________________________________________________________ *SEE INSTRUCTIONS BEFORE FILLING OUT! MK Rail Corporation Page 12 of 18 Pages Schedule 13D December 5, 1996 Item 1. Security and Issuer. This Amendment No. 1 ("Amendment") amends the statement on Schedule 13D filed by the Reporting Persons (as defined below) with the Commission on October 3, 1996 ("Statement") with respect to shares of Common Stock, par value $.01 per share ("Common Stock"), of MK Rail Corporation (the "Issuer"). The principal executive offices of the Issuer are located at 1200 Reedsdale Street, Pittsburgh, Pennsylvania 15233. This Amendment supplements and, to the extent inconsistent therewith, amends the information set forth in the Statement. Item 2. Identity and Background. This Statement is filed jointly by (a) Morgens Waterfall Income Partners ("MWIP"), (b) Restart Partners, L.P. ("Restart"), (c) Restart Partners II, L.P. ("Restart II"), (d) Restart Partners III, L.P. ("Restart III"), (e) Restart Partners IV, L.P. ("Restart IV"), (f) Restart Partners V, L.P. ("Restart V"), (g) The Common Fund for Non-Profit Organizations (the "Common Fund"), (h) Morgens, Waterfall, Vintiadis & Company, Inc. ("Morgens Waterfall"), (i) Edwin H. Morgens ("Morgens") and (j) Bruce Waterfall ("Waterfall" and together with the persons listed in paragraphs (a) through (i), the "Reporting Persons"). MWIP is a New York limited partnership having its principal address at 10 East 50th Street, New York, New York 10022. The principal business of MWIP is to invest in securities of United States issuers. Morgens and Waterfall are the general partners of MWIP. All of the information concerning Morgens and Waterfall is set forth below. Restart, Restart II, Restart III, Restart IV and Restart V are Delaware limited partnerships having their principal address at 10 East 50th Street, New York, New York 10022. The principal business of Restart, Restart II, Restart III, Restart IV and Restart V is to invest in securities of financially troubled companies. The general partner of Restart is Prime Group, L.P. ("Prime Group"), a Delaware limited partnership, having its principal address at 10 East 50th Street, New York, New York 10022. The principal business of Prime Group is to act as the general partner of Restart. The general partner of Prime Group is Prime, Inc., a Delaware corporation ("Prime"), having its principal office at 10 East 50th Street, New York, New York 10022. The principal business of Prime is to act as general partner of Prime Group, Prime II, Prime III, Prime IV and Prime V (as discussed below). Morgens is the Chairman of the Board of Directors and the Secretary of Prime. Waterfall is the President of Prime and is also a MK Rail Corporation Page 13 of 18 Pages Schedule 13D December 5, 1996 Director. All of the information concerning Morgens and Waterfall is set forth below. The general partner of Restart II is Prime Group II, L.P. ("Prime II"), a Delaware limited partnership, having its principal address at 10 East 50th Street, New York, New York 10022. The principal business of Prime II is to act as the general partner of Restart II. The general partner of Prime II is Prime. All of the information concerning Prime is set forth above. The general partner of Restart III is Prime Group III, L.P. ("Prime III"), a Delaware limited partnership, having its principal address at 10 East 50th Street, New York, New York 10022. The principal business of Prime III is to act as the general partner of Restart III. The general partner of Prime III is Prime. All of the information concerning Prime is set forth above. The general partner of Restart IV is Prime Group IV, L.P. ("Prime IV"), a Delaware limited partnership, having its principal address at 10 East 50th Street, New York, New York 10022. The principal business of Prime IV is to act as the general partner of Restart IV. The general partner of Prime IV is Prime. All of the information concerning Prime is set forth above. The general partner of Restart V is Prime Group V, L.P. ("Prime V"), a Delaware limited partnership, having its principal address at 10 East 50th Street, New York, New York 10022. The principal business of Prime V is to act as the general partner of Restart V. The general partner of Prime V is Prime. All of the information concerning Prime is set forth above. Morgens Waterfall is a New York corporation having its principal address at 10 East 50th Street, New York, New York 10022. The business of Morgens Waterfall is rendering of financial services. Morgens Waterfall provides discretionary investment advisory services to the Common Fund and in that capacity has been granted investment authority over the Common Fund to vote securities registered in the name of the Common Fund. Under the rules promulgated by the Securities and Exchange Commission, Morgens Waterfall and its principals may be considered "beneficial owners" of securities acquired by the Common Fund as a result of its advisory relationship to the Common Fund. Morgens is the Chairman of the Board of Directors and the Secretary of Morgens Waterfall. Waterfall is the President and Assistant Secretary of Morgens Waterfall and is also a Director. The primary occupations of Morgens and Waterfall are to act as the principals in the business of Morgens Waterfall. The business address of Morgens and Waterfall, each of whom is a United States citizen, is at the office of Morgens Waterfall at 10 East 50th Street, New York, New York 10022. Morgens Waterfall has no other officers and directors. MK Rail Corporation Page 14 of 18 Pages Schedule 13D December 5, 1996 During the past five years, none of the persons described in this Item 2 have been convicted in a criminal proceeding. None of such persons is, and during the past five years none has been, subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws, or finding any violations with respect to such laws. Item 3. Source and Amount of Funds or Other Consideration. The Common Stock held by the Reporting Persons was sold in the over-the-counter market through brokerage transactions. Item 4. Purpose of Transaction. The Common Stock was sold by MWIP, Restart, Restart II, Restart III, Restart IV, Restart V and the Common Fund in the over-the-counter market through brokerage transactions in the ordinary course of business. The Reporting Persons have no present plans or proposals that relate to or would result in any of the actions enumerated in Item 4 of Schedule 13D, although they reserve the right to buy additional securities of the Issuer or sell securities of the Issuer from time to time. Item 5. Interest in Securities of the Issuer. (a) and (b) None of the Reporting Persons beneficially owns any Common Stock of the Issuer. Each Reporting Person hereby disclaims that it has any beneficial interest in the securities owned, directly or indirectly, by any other entity. (c) The following is a list of all transactions involving the Common Stock since the most recent filing on Schedule 13D by any of the Reporting Persons. MK Rail Corporation Page 15 of 18 Pages Schedule 13D December 5, 1996 Aggregate Percentage Name Date # of Shares of Class ---- ---- ----------- ---------- MWIP 10/29/96 1,500 $7.625 11/21/96 3,400 $7.500 11/25/96 37,839 $7.625 Restart 10/29/96 9,500 $7.625 11/21/96 21,100 $7.500 11/25/96 231,580 $7.625 Restart II 10/29/96 13,500 $7.625 11/21/96 30,100 $7.500 11/25/96 329,998 $7.625 Restart III 10/29/96 9,400 $7.625 11/21/96 20,900 $7.500 11/25/96 228,924 $7.625 Restart IV 10/29/96 6,000 $7.625 11/21/96 13,200 $7.500 11/25/96 145,373 $7.625 Restart V 10/29/96 2,200 $7.625 11/21/96 4,900 $7.500 11/25/96 54,088 $7.625 Common Fund 10/29/96 2,900 $7.625 11/21/96 6,400 $7.500 11/25/96 70,400 $7.625 (d) Except as set forth above, no other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Common Stock. (e) On November 25, 1996, the Reporting Persons ceased to be the beneficial owners of more than five percent of the Common Stock of the Issuer. Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to the Securities of the Issuer. Except to the extent described in Items 2 and 5, none of the persons identified in Item 2 is a party to any contract, arrangement, understanding or relationship with respect to any securities of the Issuer. MK Rail Corporation Page 16 of 18 Pages Schedule 13D December 5, 1996 Item 7. Material to be Filed as Exhibits. EXHIBIT A Power of Attorney, dated December 15, 1993 granted to Messrs. Morgens and Waterfall by the following parties: Mr. Bruce Waterfall; Phoenix Partners; Morgens Waterfall Income Partners; Betje Partners; Phaeton International N.V.; Morgens, Waterfall, Vintiadis Investments N.V.; The Common Fund for Non-Profit Organizations; Morgens Waterfall Vintiadis & Company, Inc.; Restart Partners, L.P.; Restart Partners II, L.P.; Restart Partners III, L.P.; Restart Partners IV, L.P.; Morgens Waterfall, Vintiadis & Co., Inc. Employees' Profit Sharing Plan; and Mr. Edwin Morgens, for the specific purpose of executing on their behalf any Schedule 13Ds and amendments thereto for filing with the Securities and Exchange Commission pursuant to the requirements of Rule 13d-1(f) (incorporated by reference to Exhibit A of Amendment No. 2 to Schedule 13D filed on December 22, 1993 by Phoenix Partners; Betje Partners; Phaeton International N.V.; Morgens, Waterfall, Vintiadis Investments N.V.; Morgens Waterfall Vintiadis & Company, Inc.; Edwin H. Morgens; and Bruce Waterfall with respect to the common stock, par value $.01 per share, of Sudbury, Inc.). EXHIBIT B Power of Attorney, dated September 18, 1996 granted to Messrs. Morgens and Waterfall by Restart V, L.P., for the specific purpose of executing on its behalf any Schedule 13Ds and amendments thereto for filing with the Securities and Exchange Commission pursuant to the requirements of Rule 13d-1(f) (incorporated by reference to Exhibit B of Schedule 13D filed on September 18, 1996 by Phoenix Partners; Betje Partners; Morgens Waterfall Vintiadis Investments N.V.; Morgens Waterfall Income Partners; Restart Partners, L.P.; Restart Partners II, L.P.; Restart Partners III, L.P.; Restart Partners IV, L.P.; Restart Partners V, L.P.; The Common Fund for Non-Profit Organizations; MWV Employee Retirement Plan Group Trust; Phaeton International N.V.; Morgens Waterfall, Vintiadis & Company, Inc.; Edwin H. Morgens; and Bruce Waterfall with respect to the common stock, par value $.01 per share, of Darling International, Inc.). MK Rail Corporation Page 17 of 18 Pages Schedule 13D December 5, 1996 SIGNATURES After reasonable inquiry and to the best knowledge and belief of each of the Reporting Persons, each such person or entity certifies that the information set forth in this statement is true, complete and correct and agrees that this statement is filed on behalf of each of them. The Reporting Persons listed herein Dated: December 5, 1996 By: /s/ Bruce Waterfall ------------------------------------- Bruce Waterfall, as attorney-in-fact for each of the Reporting Persons MK Rail Corporation Page 18 of 18 Pages Schedule 13D December 5, 1996 EXHIBIT INDEX Page No. --------------- Exhibit A Power of Attorney Incorporated by Reference Exhibit B Power of Attorney Incorporated by Reference -----END PRIVACY-ENHANCED MESSAGE-----