-----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, TbvekgIJyA1nibOmJKL5Z0eUU8VOu1GITthuGzGJDoqxAMbOdJ62/piJ4v/KHQf4 vms4zQVqG7XA2INYHotAWA== /in/edgar/work/20000821/0000909518-00-000532/0000909518-00-000532.txt : 20000922 0000909518-00-000532.hdr.sgml : 20000922 ACCESSION NUMBER: 0000909518-00-000532 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20000821 GROUP MEMBERS: NEIL H. KOFFLER GROUP MEMBERS: PETER M. COLLERY GROUP MEMBERS: PMC-BVI, INC. GROUP MEMBERS: SC FUNDAMENTAL INC GROUP MEMBERS: SC FUNDAMENTAL LLC EMPLOYEE SAVINGS AND PROFIT SHARING PLAN GROUP MEMBERS: SC FUNDAMENTAL VALUE BVI, INC. GROUP MEMBERS: SC FUNDAMENTAL VALUE BVI, LTD. GROUP MEMBERS: SC FUNDAMENTAL VALUE FUND, L.P. GROUP MEMBERS: SC-BVI PARTNERS SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ESG RE LTD CENTRAL INDEX KEY: 0001049624 STANDARD INDUSTRIAL CLASSIFICATION: [6311 ] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: SEC FILE NUMBER: 005-53183 FILM NUMBER: 707072 BUSINESS ADDRESS: STREET 1: SKANDIA INTERNATIONAL HOUSE STREET 2: 16 CHURCH STREET, HAMILTON CITY: BERMUDA STATE: D0 BUSINESS PHONE: 4412952185 MAIL ADDRESS: STREET 1: SKANDIA INTERNATIONAL HOUSE STREET 2: 16 CHURCH STREET CITY: BERMUDA FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: SC FUNDAMENTAL INC CENTRAL INDEX KEY: 0000919094 STANDARD INDUSTRIAL CLASSIFICATION: [0000 ] IRS NUMBER: 133563937 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 712 5TH AVE 19TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 2129573500 MAIL ADDRESS: STREET 1: 712 5TH AVENUE 19TH FL STREET 2: 712 5TH AVENUE 19TH FL CITY: NEW YORK STATE: NY ZIP: 10019 SC 13D 1 0001.txt ================================================================================ SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. __) ------------------------------ ESG RE LIMITED (Name of Issuer) COMMON STOCK, $1.00 PAR VALUE PER SHARE 000G312151 (Title of class of securities) (CUSIP number) NEIL H. KOFFLER SC FUNDAMENTAL LLC 10 EAST 50TH STREET, 21ST FLOOR NEW YORK, NY 10022 (212) 888-9100 (Name, address and telephone number of person authorized to receive notices and communications) WITH A COPY TO: DAVID E. ZELTNER, ESQ. WEIL, GOTSHAL & MANGES LLP 767 FIFTH AVENUE NEW YORK, NEW YORK 10153-0119 (212) 310-8000 AUGUST 9, 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 that is the subject of this Schedule 13D, and is filing this schedule because of ss.ss. 240.13d-1(e), 240.13d-1(f) or 240.13d-(g), check the following box. [ ] Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. Seess. 240.13d-7 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 purposes of Section 18 of the Securities Exchange Act of 1934 (the "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.) (Continued on following pages) (Page 1 of 27 Pages) ================================================================================ NY2:\954538\04
- ----------------------------------------------------------- -------------------------------------------------------- CUSIP No. 000G312151 13D Page 2 of 27 Pages - ----------------------------------------------------------- -------------------------------------------------------- - ---------------------- ------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON SC FUNDAMENTAL VALUE FUND, L.P. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ---------------------- ------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [X] (b) [ ] - ---------------------- ------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------------------- ------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: WC/OO - ---------------------- ------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [ ] - ---------------------- ------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware - ---------------------- ------------------------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 219,400 SHARES ------------------- ------------------------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 0 OWNED BY ------------------- ------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 219,400 REPORTING ------------------- ------------------------------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 0 - ---------------------- ------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 219,400 - ---------------------- ------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ] - ---------------------- ------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 1.86% - ---------------------- ------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: PN - ---------------------- ------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------- -------------------------------------------------------- CUSIP No. 000G312151 13D Page 3 of 27 Pages - ----------------------------------------------------------- -------------------------------------------------------- - ---------------------- ------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON SC FUNDAMENTAL LLC S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ---------------------- ------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [X] (b) [ ] - ---------------------- ------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------------------- ------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - ---------------------- ------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [ ] - ---------------------- ------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: New York - ---------------------- ------------------------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 0 SHARES ------------------- ------------------------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 219,400* OWNED BY ------------------- ------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 0 REPORTING ------------------- ------------------------------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 219,400* - ---------------------- ------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 219,400* - ---------------------- ------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ] - ---------------------- ------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 1.86% - ---------------------- ------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: OO - ---------------------- ------------------------------------------------------------------------------------------------------- *Does not include (i) 116,500 shares beneficially owned by Gary Siegler and (ii) 87,500 shares over which Paul J. Isaac has sole or shared dispositive power. Mr. Siegler has a nonvoting interest in SC Fundamental LLC and Mr. Isaac is a consultant to SC Fundamental LLC. SC Fundamental LLC disclaims beneficial ownership of all such shares. - ----------------------------------------------------------- -------------------------------------------------------- CUSIP No. 000G312151 13D Page 4 of 27 Pages - ----------------------------------------------------------- -------------------------------------------------------- - ---------------------- ------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON SC FUNDAMENTAL VALUE BVI, LTD. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ---------------------- ------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [X] (b) [ ] - ---------------------- ------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------------------- ------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - ---------------------- ------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [ ] - ---------------------- ------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: British Virgin Islands - ---------------------- ------------------------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 357,300 SHARES ------------------- ------------------------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 0 OWNED BY ------------------- ------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 357,300 REPORTING ------------------- ------------------------------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 0 - ---------------------- ------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 357,300 - ---------------------- ------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ] - ---------------------- ------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 3.02% - ---------------------- ------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: CO - ---------------------- ------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------- -------------------------------------------------------- CUSIP No. 000G312151 13D Page 5 of 27 Pages - ----------------------------------------------------------- -------------------------------------------------------- - ---------------------- ------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON SC-BVI PARTNERS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ---------------------- ------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [X] (b) [ ] - ---------------------- ------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------------------- ------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - ---------------------- ------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [ ] - ---------------------- ------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware - ---------------------- ------------------------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 0 SHARES ------------------- ------------------------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 357,300 OWNED BY ------------------- ------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 0 REPORTING ------------------- ------------------------------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 357,300 - ---------------------- ------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 357,300 - ---------------------- ------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ] - ---------------------- ------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 3.02% - ---------------------- ------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: PN - ---------------------- ------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------- -------------------------------------------------------- CUSIP No. 000G312151 13D Page 6 of 27 Pages - ----------------------------------------------------------- -------------------------------------------------------- - ---------------------- ------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON PMC-BVI, INC. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ---------------------- ------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [X] (b) [ ] - ---------------------- ------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------------------- ------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - ---------------------- ------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [ ] - ---------------------- ------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware - ---------------------- ------------------------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 0 SHARES ------------------- ------------------------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 357,300 OWNED BY ------------------- ------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 0 REPORTING ------------------- ------------------------------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 357,300 - ---------------------- ------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 357,300 - ---------------------- ------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ] - ---------------------- ------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 3.02% - ---------------------- ------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: CO - ---------------------- ------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------- -------------------------------------------------------- CUSIP No. 000G312151 13D Page 7 of 27 Pages - ----------------------------------------------------------- -------------------------------------------------------- - ---------------------- ------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON SC FUNDAMENTAL VALUE BVI, INC. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ---------------------- ------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [X] (b) [ ] - ---------------------- ------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------------------- ------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: OO - ---------------------- ------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [ ] - ---------------------- ------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware - ---------------------- ------------------------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 0 SHARES ------------------- ------------------------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 357,300 OWNED BY ------------------- ------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 0 REPORTING ------------------- ------------------------------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 357,300 - ---------------------- ------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 357,300 - ---------------------- ------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ] - ---------------------- ------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 3.02% - ---------------------- ------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: CO - ---------------------- ------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------- -------------------------------------------------------- CUSIP No. 000G312151 13D Page 8 of 27 Pages - ----------------------------------------------------------- -------------------------------------------------------- - ---------------------- ------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON PETER M. COLLERY S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ---------------------- ------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [X] (b) [ ] - ---------------------- ------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------------------- ------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: OO/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: United States - ---------------------- ------------------------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 20,000* SHARES ------------------- ------------------------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 596,700 OWNED BY ------------------- ------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 20,000* REPORTING ------------------- ------------------------------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 596,700 - ---------------------- ------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 616,700** - ---------------------- ------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ] - ---------------------- ------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 5.22% - ---------------------- ------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: IN - ---------------------- ------------------------------------------------------------------------------------------------------- *All of such shares are held by Mr. Collery as custodian for his children in the following amounts: (i) Claire Adams Collery: 6,667 shares; (ii) Edward Arnold Collery: 6,666 shares; and (iii) Elizabeth Adams Collery: 6,667 shares. ** Of such amount, 20,000 shares are held by Mr. Collery as custodian for his children as stated immediately above. - ----------------------------------------------------------- -------------------------------------------------------- CUSIP No. 000G312151 13D Page 9 of 27 Pages - ----------------------------------------------------------- -------------------------------------------------------- - ---------------------- ------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON NEIL H. KOFFLER S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON - ---------------------- ------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [X] (b) [ ] - ---------------------- ------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------------------- ------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: OO/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: United States - ---------------------- ------------------------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 0 SHARES ------------------- ------------------------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 576,700 OWNED BY ------------------- ------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 0 REPORTING ------------------- ------------------------------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 576,700 - ---------------------- ------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 576,700 - ---------------------- ------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ] - ---------------------- ------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 4.88% - ---------------------- ------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: IN - ---------------------- ------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------- -------------------------------------------------------- CUSIP No. 000G312151 13D Page 10 of 27 Pages - ----------------------------------------------------------- -------------------------------------------------------- - ---------------------- ------------------------------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON SC FUNDAMENTAL LLC EMPLOYEE SAVINGS AND PROFIT S.S. OR I.R.S. IDENTIFICATION NO. SHARING PLAN OF ABOVE PERSON - ---------------------- ------------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [X] (b) [ ] - ---------------------- ------------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ---------------------- ------------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS: WC/OO - ---------------------- ------------------------------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [ ] - ---------------------- ------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware - ---------------------- ------------------------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER: 20,000 SHARES ------------------- ------------------------------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER: 0 OWNED BY ------------------- ------------------------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER: 20,000 REPORTING ------------------- ------------------------------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER: 0 - ---------------------- ------------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 20,000 - ---------------------- ------------------------------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ] - ---------------------- ------------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.17% - ---------------------- ------------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON: EP - ---------------------- -------------------------------------------------------------------------------------------------------
ITEM 1. SECURITY AND ISSUER This statement of beneficial ownership on Schedule 13D ("Schedule 13D") relates to the common stock, par value $1.00 per share ("Common Stock"), of ESG Re Limited (the "Company"). The address of the principal executive office of the Company is 16 Church Street, Hamilton HM11, Bermuda. ITEM 2. IDENTITY AND BACKGROUND The persons filing this Schedule 13D are SC Fundamental Value Fund, L.P. ("Fund"), SC Fundamental LLC ("SCFLLC"), SC Fundamental Value BVI, LTD, ("BVI Fund"), SC-BVI Partners ("BVI Partners"), PMC-BVI, Inc. ("PMCBVI"), SC Fundamental Value BVI, Inc. ("BVI Inc."), Peter M. Collery ("Collery"), Neil H. Koffler ("Koffler"), and SC Fundamental LLC Employee Savings and Profit Sharing Plan ("SC Plan") as members of a joint filing group (collectively, the "Reporting Persons"). Fund is a Delaware limited partnership. The principal business of Fund is investing in securities. The business address of Fund is 10 East 50th Street, 21st Floor, New York, N.Y. 10022. During the last five years, neither Fund nor its general partner has been (i) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding has been or is subject to a judgment, decree or final order enjoining future violation of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. SCFLLC is a New York limited liability company and is the general partner of Fund. The principal business of SCFLLC is serving in such capacity and investing in securities. The business address of SCFLLC is 10 East 50th Street, 21st Floor, New York, N.Y. 10022. During the last five years, neither SCFLLC nor any of its members has been (i) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as result of such proceeding has been or is subject to a judgment, decree or final order enjoining future violation of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. The name, position and business address of each member of SCFLLC is set forth on Schedule A attached hereto. BVI Fund is a British Virgin Islands Company. The principal business of BVI Fund is investing in securities. The business address of BVI Fund is c/o Citco Fund Services (Cayman Islands) Ltd., Corporate Center, West Bay Road, Grand Cayman, Cayman Islands. During the last five years, neither BVI Fund nor any of its directors or officers has been (i) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as result of such proceeding has been or its 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 violation with respect to such laws. The name, position, business address and citizenship of the directors and executive officers of BVI Fund are set forth on Schedule B hereto. BVI Partners is a Delaware general partnership. The principal business of BVI Partners is serving as the investment manager of BVI Fund and investing in securities. The business address of BVI Partners is 10 East 50th Street, 21st Floor, New York, N.Y. 10022. During the last five years, neither BVI Partners nor any of its general partners has been (i) convicted in a 11 criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding has been or is subject to a judgment, decree or final order enjoining future violation of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. The name, position and business address of the general partners of BVI Partners are set forth on Schedule C hereto. PMCBVI is a Delaware corporation. The principal business of PMCBVI is serving as general partner of BVI Partners and investing in securities. The business address of PMCBVI is 10 East 50th Street, 21st Floor, New York, N.Y. 10022. During the last five years, neither PMCBVI nor any of its directors or executive officers has been (i) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding has been or is subject to a judgment, decree or final order enjoining future violation of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. The name, position and business address of each of the directors and executive officers of PMCBVI are set forth on Schedule D hereto. BVI Inc. is a Delaware corporation. The principal business of BVI Inc. is serving as the managing general partner of BVI Partners and investing in securities. The business address of BVI Inc. is 10 East 50th Street, 21st Floor, New York, N.Y. 10022. During the last five years, neither BVI Inc. nor any of its directors or executive officers has been (i) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding has been or is subject to a judgment, decree or final order enjoining future violation of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. The name, position and business address of each of the directors and executive officers of BVI Inc. are set forth on Schedule E hereto. Collery is a citizen of the United States having a business address at c/o SC Fundamental LLC, 10 East 50th Street, 21st Floor, New York, N.Y. 10022. The principal occupation of Collery is acting as an employee member of SCFLLC. During the last five years, Collery has not been (i) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding as been or is 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 violation with respect to such laws. Koffler is a citizen of the United States having a business address at c/o SC Fundamental LLC, 10 East 50th Street, New York, N.Y. 10022. The principal occupation of Koffler is acting as an employee member of SCFLLC. During the last five years, Koffler has not been (i) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding has been or is 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 violation with respect to such laws. SC Plan is an employee benefit plan. The principal business of SC Plan is investing in securities. The business address of SC Plan is 10 East 50th Street, 21st Floor, New York, N.Y. 10022. During the last five years, neither SC Plan nor its trustee has been (i) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) a party to a 12 civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding has been or is subject to a judgment, decree or final order enjoining future violation of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. The name, position and business address of the trustee of SC Plan is set forth on Schedule F attached hereto. ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION Fund has purchased an aggregate of 219,400 shares of Common Stock for total consideration (including brokerage commissions) of $1,668,046.61 derived from its working capital and margin indebtedness. BVI Fund has purchased an aggregate of 357,300 shares of Common Stock for total consideration (including brokerage commissions) of $2,165,502.06 derived from its working capital and margin indebtedness. Collery has purchased an aggregate of 20,000 shares of Common Stock for total consideration (including brokerage commissions) of $156,250.01 derived from personal funds. SC Plan has purchased an aggregate of 20,000 shares of Common Stock for total consideration (including brokerage commissions) of $156,250.00 derived from its working capital. ITEM 4. PURPOSE OF TRANSACTION The Reporting Persons have acquired the shares of Common Stock because, in their opinion, such shares of Common Stock are undervalued by the market at the present time under the present circumstances. The Reporting Persons believe that the Company's value is being decreased by continued operations and that the Company should pursue a sale of its business or an orderly liquidation and, pending such sale or liquidation, engage in substantial share repurchases. The Reporting Persons may communicate with the Company's management, directors and their advisors, other shareholders and other interested parties concerning such possible actions or other matters relating to the business and affairs of the Company. The Reporting Persons may from time to time (i) acquire additional shares of Common Stock (subject to availability at prices deemed favorable) in the open market, in privately negotiated transactions or otherwise, or (ii) dispose of shares of Common Stock at prices deemed favorable in the open market, in privately negotiated transactions or otherwise. Except as set forth above, the Reporting Persons have no plans or proposals that would result in or relate to any of the matters set forth in subparagraphs (a) though (j) of Item 4 of Schedule 13D. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER As of the close of business on August 18, 2000, the Reporting Persons beneficially owned (or are deemed, solely for purposes of Rule 13d-3, to beneficially own), directly or indirectly, an aggregate of 616,700 shares of Common Stock, representing approximately 5.22% of the Common Stock outstanding 13 on August 18, 2000 (based on 11,818,508 shares of Common Stock outstanding as of August 7, 2000 as reported in the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2000). Each of the Reporting Persons, by virtue of Rule 13d-3, may be deemed to own beneficially the number of shares and percentages of Common Stock set forth opposite their names below. Shares of Name Common Stock Percentage - ---- ------------ ---------- The SC Fundamental Value Fund, L.P. 219,400 1.86% SC Fundamental LLC 219,400 1.86% The SC Fundamental Value BVI, Ltd. 357,300 3.02% SC Fundamental Value BVI, Inc. 357,300 3.02% SC-BVI Partners 357,300 3.02% PMC-BVI, Inc. 357,300 3.02% Peter M. Collery 616,700 (1) 5.22% Neil H. Koffler 576,700 4.88% SC Fundamental LLC Employee Savings and Profit Sharing Plan 20,000 .17% (1) Includes 20,000 shares of Common Stock held by Collery as custodian for his children. Koffler and Collery, by virtue of their status as members of SCFLLC, the general partner of Fund, may be deemed to share with Fund and SCFLLC the power to vote or direct the vote and to dispose or to direct the disposition of shares of Common Stock of which Fund is the direct beneficial owner. Koffler, by virtue of his status as an executive officer of BVI Inc., and Collery, by virtue of his status as the sole stockholder and an executive officer of BVI Inc., the managing general partner of BVI Partners, which is the investment manager of BVI Fund, may be deemed to share with BVI Inc., BVI Partners and BVI Fund the power to vote or direct the vote and to dispose or direct the disposition of shares of Common Stock of which BVI Fund is the direct beneficial owner. Collery, by virtue of his status as the sole stockholder, director and executive officer of PMCBVI, a general partner of BVI Partners, which is the investment manager of BVI Fund, may be deemed to share with PMCBVI, BVI Partners and BVI Fund the power to vote or direct the vote and to dispose or direct the disposition of shares of Common Stock of which BVI Fund is the direct beneficial owner. Collery has the sole power to vote or direct the vote and to dispose or to direct the disposition of 20,000 shares of Common Stock of which he is the custodian for his children. Collery, by virtue of his status as the trustee for SC Plan, may be deemed to share with SC Plan the power to vote or direct the vote and to dispose or direct the disposition of shares of Common Stock of which SC Plan is the direct beneficial owner. 14 During the last 60 days, the following transactions in Common Stock were effected by the Reporting Persons on the NASDAQ Stock Market:
Reporting Person Number of Price Per Share Commission Per Date - ---------------- --------- --------------- -------------- ---- Shares Share ------ ----- Purchased --------- SC Fundamental Value BVI, 12,400 $2.8750 $0 8/9/00 Ltd. SC Fundamental Value Fund, 7,600 $2.8750 $0 8/9/00 L.P. SC Fundamental Value BVI, 1,550 $2.8750 $0.0175 8/9/00 Ltd. SC Fundamental Value Fund, 950 $2.8750 $0.0175 8/9/00 L.P. SC Fundamental Value BVI, 60 $2.8750 $0.0175 8/10/00 Ltd. SC Fundamental Value Fund, 40 $2.8750 $0.0175 8/10/00 L.P. SC Fundamental Value BVI, 430 $2.9688 $0.0175 8/16/00 Ltd. SC Fundamental Value Fund, 270 $2.9688 $0.0175 8/16/00 L.P.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER None. ITEM 7. MATERIAL TO BE FILED AS EXHIBITS Exhibit 1. Joint Filing Agreement, dated August 21, 2000 Exhibit 2. Power of Attorney of Peter M. Collery [The remainder of this page intentionally left blank.] 15 SIGNATURES After reasonable inquiry and to the best of their knowledge and belief, the undersigned certify that the information set forth in this Statement is true, complete and correct. Dated: August 21, 2000 SC FUNDAMENTAL VALUE FUND, L.P. By: SC Fundamental LLC, as General Partner By: /s/ Neil H. Koffler ----------------------------------------- Neil H. Koffler, Member SC FUNDAMENTAL LLC By: /s/ Neil H. Koffler ----------------------------------------- Neil H. Koffler, Member SC FUNDAMENTAL VALUE BVI, LTD. By: SC Fundamental Value BVI, Inc., as managing general partner of investment manager By: /s/ Neil H. Koffler ----------------------------------------- Neil H. Koffler, Vice President SC-BVI PARTNERS By: SC Fundamental Value BVI, Inc., as managing general partner By: /s/ Neil H. Koffler ----------------------------------------- Neil H. Koffler, Vice President PMC-BVI, INC. By: /s/ Peter M. Collery ----------------------------------------- Neil H. Koffler as Attorney-in-Fact for Peter M. Collery, President (1) 16 SC FUNDAMENTAL VALUE BVI, INC. By: /s/ Neil H. Koffler ----------------------------------------- Neil H. Koffler, Vice President /s/ Peter M. Collery ----------------------------------------- Neil H. Koffler as Attorney-in-Fact for Peter M. Collery (1) /s/ Neil H. Koffler ----------------------------------------- Neil H. Koffler SC FUNDAMENTAL LLC EMPLOYEE SAVINGS AND PROFIT SHARING PLAN By: /s/ Peter M. Collery ----------------------------------------- Neil H. Koffler as Attorney-in-Fact for Peter M. Collery, Trustee (1) (1) Executed by Neil H. Koffler as Attorney-in-Fact for Peter M. Collery. The Power of Attorney for Mr. Collery is attached as Exhibit 2 to this Schedule 13D. 17 EXHIBIT INDEX Exhibit No. Description - ----------- ----------- 1 Joint Filing Agreement, dated August 21, 2000 2 Power of Attorney of Peter M. Collery 18 SCHEDULE A The name and present principal occupation or employment of the Members of SC Fundamental LLC are set forth below. The business address of each Member is 10 East 50th Street, 21st Floor, New York, N.Y. 10022. All persons are United States citizens. Name and Position Present Principal Occupation or Employment - ----------------- ------------------------------------------ Peter M. Collery Member of SC Fundamental LLC, President of SC Member Fundamental BVI, Inc. Neil H. Koffler Member of SC Fundamental LLC and Vice President of Member SC Fundamental BVI, Inc. 19 SCHEDULE B The name, citizenship and present principal occupation or employment of the directors and executive officers of SC Fundamental Value BVI, Ltd. are set forth below. The business address of such directors and executive officers is c/o Citco Fund Services (Cayman Islands) Ltd., Corporate Center, West Bay Road, Grand Cayman, Cayman Islands.
Name, Position and Citizenship Present Principal Occupation or Employment - ------------------------------ ------------------------------------------ Peter M. Collery Member of SC Fundamental LLC, President of SC Fundamental BVI, Inc. Director United States Bernard Loze Principal of Loze & Associates Director France David M. Mills Partner of Withers Solicitors Director England Anthony Stocks Director of International Fund Services division of the Citco Group Director England
20 SCHEDULE C The name and position of the general partners of SC-BVI Partners are set forth below. The business address of each general partner is 10 East 50th Street, 21st Floor, New York, New York 10022. All such persons are Delaware corporations. Name and Position - ----------------- SC Fundamental BVI Inc. Managing General Partner PMC-BVI, Inc. (1) Partner (1) Peter M. Collery is the sole stockholder, officer and director of PMC-BVI, Inc. 21 SCHEDULE D The name and position of the sole director and executive officer of PMC-BVI, Inc. are set forth below. The business address of the sole director and executive officer is 10 East 50th Street, 21st Floor, New York, N.Y. 10022. The sole director and executive officer of PMC-BVI, Inc. is a citizen of the United States. Name Position - ---- -------- Peter M. Collery Sole stockholder, Director and President 22 SCHEDULE E The name and position of the each director and executive officer of SC Fundamental Value BVI, Inc. are set forth below. The business address of each director and executive officer is 10 East 50th Street, 21st Floor, New York, N.Y. 10022. All directors and executive officers are citizens of the United States. Name Position - ---- -------- Peter M. Collery Director, President and Secretary Neil H. Koffler Vice President and Treasurer 23 SCHEDULE F The name and position of the trustee of SC Plan are set forth below. The business address of the trustee is 10 East 50th Street, 21st Floor, New York, N.Y. 10022. The trustee of SC Plan is a citizen of the United States. Name Position - ---- -------- Peter M. Collery Trustee 24 EX-99 2 0002.txt EXHIBIT 1 Exhibit 1 JOINT FILING AGREEMENT In accordance with Rule 13d-1(f) under the Securities Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of each of them of a statement on Schedule 13D (including amendments thereto) with respect to the Common Stock, par value $1.00 per share, of ESG Re Limited and further agree that this Joint Filing Agreement be included as an Exhibit to such joint filing. In evidence thereof, the undersigned, hereby execute this Agreement this 21st day of August, 2000. Dated: August 21, 2000 SC FUNDAMENTAL VALUE FUND, L.P. By: SC Fundamental LLC, as General Partner By: /s/ Neil H. Koffler ----------------------------------------- Neil H. Koffler, Member SC FUNDAMENTAL LLC By: /s/ Neil H. Koffler ----------------------------------------- Neil H. Koffler, Member SC FUNDAMENTAL VALUE BVI, LTD. By: SC Fundamental Value BVI, Inc., as managing general partner of investment manager By: /s/ Neil H. Koffler ----------------------------------------- Neil H. Koffler, Vice President SC-BVI PARTNERS By: SC Fundamental Value BVI, Inc., as managing general partner By: /s/ Neil H. Koffler ----------------------------------------- Neil H. Koffler, Vice President 25 PMC-BVI, INC. By: /s/ Peter M. Collery ----------------------------------------- Neil H. Koffler as Attorney-in-Fact for Peter M. Collery, President (1) SC FUNDAMENTAL VALUE BVI, INC. By: /s/ Neil H. Koffler ----------------------------------------- Neil H. Koffler, Vice President /s/ Peter M. Collery ----------------------------------------- Neil H. Koffler as Attorney-in-Fact for Peter M. Collery (1) /s/ Neil H. Koffler ----------------------------------------- Neil H. Koffler SC FUNDAMENTAL LLC EMPLOYEE SAVINGS AND PROFIT SHARING PLAN By: /s/ Peter M. Collery ----------------------------------------- Neil H. Koffler as Attorney-in-Fact for Peter M. Collery, Trustee (1) (1) Executed by Neil H. Koffler as Attorney-in-Fact for Peter M. Collery. The Power of Attorney for Mr. Collery is attached as Exhibit 2 to this Schedule 13D. 26 EX-99 3 0003.txt EXHIBIT 2 Exhibit 2 POWER OF ATTORNEY The undersigned, Peter M. Collery (hereinafter referred to as "Collery") does hereby make, constitute and appoint the person listed below as Collery's true and lawful agent and attorney-in-fact (hereinafter referred to as the "Attorney") to act in the name and on behalf of Collery for and with respect to the matters hereinafter described. Name of Attorney: Neil H. Koffler Attorney shall have the power and authority to do the following: To execute and deliver any Schedule 13D, Schedule 13G or Forms 3, 4 and 5 or any amendments thereto required to be filed with the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended, on behalf of Collery with regard to any securities owned by Collery or any of Collery's affiliates. And, in connection with the foregoing, to execute and deliver all documents, acknowledgements, consents and other agreements and to take such further action as may be necessary or convenient for Collery in order to more effectively carry out the intent and purpose of the foregoing. Agreements, commitments, documents, instruments, and other writings executed by the Attorney in accordance with the terms hereof shall be binding upon Collery without attestation. The Power of Attorney conferred hereby shall not be delegable by Attorney. Unless revoked by Collery, this Power of Attorney shall be governed under the laws of the State of New York and the authority of Attorney hereunder shall terminate on September 1, 2003. IN WITNESS WHEREOF, Collery has caused this Power of Attorney to be executed and attested as of the 11th day of August, 2000. /s/ Peter M. Collery -------------------- Peter M. Collery Attest: /s/ John T. Bird - ---------------------------- Name: John T. Bird 27 -----END PRIVACY-ENHANCED MESSAGE-----