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The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

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COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
BELMOND LTD CL A G1154H107 51,427 4,198,092 SH   SOLE   4,198,092 0 0
MEDICAL PPTYS TRUST INC COM 58463J304 129,824 9,421,217 SH   SOLE   9,421,217 0 0
PDVWIRELESS INC COM 69290R104 112,557 3,506,457 SH   SOLE   3,506,457 0 0
GLOBALSTAR INC COM 378973408 8,822 6,734,000 SH   SOLE   6,734,000 0 0
DEUTSCHE BANK AG NAMEN AKT D18190898 1,182,208 62,035,000 SH   SOLE   62,035,000 0 0