UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 8)*
Encore Capital Group, Inc.
--------------------------
(Name of Issuer)
Common Stock ($.01 par value)
----------------------------
(Title of Class of Securities)
292554 10 2
-------------
(CUSIP Number)
Stuart I. Rosen
Senior Vice President and Associate General Counsel
Triarc Companies, Inc.
280 Park Avenue
New York, New York 10017
----------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
May 12, 2005
------------------
(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.240.13d-1(e), (f) or (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. See ss.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 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
(1) Name of Reporting Person Madison West Associates Corp.
I.R.S. Identification No.
of Above Person
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(2) Check the Appropriate Box (a)
if a Member of a Group ---------------------------------------------
(b) X
---------------------------------------------
--------------------------------------------------------------------------------
(3) SEC Use Only
--------------------------------------------------------------------------------
(4) Source of Funds OO
--------------------------------------------------------------------------------
(5) Check Box if Disclosure [ ]
of Legal [ ] Proceedings
is Required Pursuant
to Items 2(d) or 2(e)
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(6) Citizenship or Place of
Organization Delaware
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Number of Shares (7) Sole Voting Power None
Beneficially Owned by ------------------------------------------------------
Each Reporting Person (8) Shared Voting Power 1,296,800
with ------------------------------------------------------
(9) Sole Dispositive Power None
------------------------------------------------------
(10)Shared Dispositive Power 1,296,800
--------------------------------------------------------------------------------
(11) Aggregate Amount
Beneficially Owned by Each
Reporting Person 1,296,800
--------------------------------------------------------------------------------
(12) Check Box if the Aggregate [ ]
Amount in Row (11) Excludes
Certain Shares
--------------------------------------------------------------------------------
(13) Percent of Class Represented 5.8%
by Amount in Row (11)
--------------------------------------------------------------------------------
(14) Type of Reporting Person CO
================================================================================
* Based on 22,259,424 shares of common stock outstanding as of April 25,
2005, as reported in the Company's Form 10-Q, as filed with the Securities
and Exchange Commission on May 9, 2005.
(1) Name of Reporting Person Triarc Companies, Inc.
I.R.S. Identification No.
of Above Person
--------------------------------------------------------------------------------
(2) Check the Appropriate Box if (a)
a Member of a Group ------------------------------------------
(b) X
------------------------------------------
--------------------------------------------------------------------------------
(3) SEC Use Only
--------------------------------------------------------------------------------
(4) Source of Funds OO
--------------------------------------------------------------------------------
(5) Check Box if Disclosure of Legal [ ]
Proceedings is Required Pursuant
to Items 2(d) or 2(e)
--------------------------------------------------------------------------------
(6) Citizenship or Place of Delaware
Organization
--------------------------------------------------------------------------------
Number of Shares (7) Sole Voting Power None
Beneficially Owned by ----------------------------------------------------
Each Reporting Person (8) Shared Voting Power 1,398,075
With ----------------------------------------------------
(9) Sole Dispositive Power None
----------------------------------------------------
(10)Shared Dispositive Power 1,398,075
--------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially
Owned by Each Reporting Person 1,398,075
--------------------------------------------------------------------------------
(12) Check Box if the Aggregate [ ]
Amount in Row (11) Excludes
Certain Shares
--------------------------------------------------------------------------------
(13) Percent of Class Represented 6.3%*
by Amount in Row (11)
--------------------------------------------------------------------------------
(14) Type of Reporting Person CO
================================================================================
* Based on 22,259,424 shares of common stock outstanding as of April 25,
2005, as reported in the Company's Form 10-Q, as filed with the Securities
and Exchange Commission on May 9, 2005.
(1) Name of Reporting Person Nelson Peltz
I.R.S. Identification No. of
Above Person
--------------------------------------------------------------------------------
(2) Check the Appropriate Box (a)
if a Member of a Group ------------------------------------------
(b) X
------------------------------------------
--------------------------------------------------------------------------------
(3) SEC Use Only
--------------------------------------------------------------------------------
(4) Source of Funds OO
--------------------------------------------------------------------------------
(5) Check Box if Disclosure of [ ]
Legal Proceedings is
Required Pursuant to Items
2(d) or 2(e)
--------------------------------------------------------------------------------
(6) Citizenship or Place of United States
Organization
--------------------------------------------------------------------------------
Number of (7) Sole Voting Power None
Shares ------------------------------------------------------
Beneficially (8) Shared Voting Power 2,895,099
Owned by Each ------------------------------------------------------
Reporting (9) Sole Dispositive Power None
Person With ------------------------------------------------------
(10)Shared Dispositive Power 2,895,099
--------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially
Owned by Each Reporting Person 2,895,099
--------------------------------------------------------------------------------
(12) Check Box if the Aggregate [ ]
Amount in Row (11) Excludes
Certain Shares
--------------------------------------------------------------------------------
(13) Percent of Class Represented 13.0%*
by Amount in Row (11)
--------------------------------------------------------------------------------
(14) Type of Reporting Person IN
================================================================================
* Based on 22,259,424 shares of common stock outstanding as of April 25,
2005, as reported in the Company's Form 10-Q, as filed with the Securities
and Exchange Commission on May 9, 2005.
(1) Name of Reporting Person Peter W. May
I.R.S. Identification No.
of Above Person
--------------------------------------------------------------------------------
(2) Check the Appropriate Box (a)
if a Member of a Group --------------------------------------------
(b) X
--------------------------------------------
--------------------------------------------------------------------------------
(3) SEC Use Only
--------------------------------------------------------------------------------
(4) Source of Funds OO
--------------------------------------------------------------------------------
(5) Check Box if Disclosure of [ ]
Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e)
--------------------------------------------------------------------------------
(6) Citizenship or Place of United States
Organization
--------------------------------------------------------------------------------
Number of (7) Sole Voting Power 15,000
Shares ------------------------------------------------------
Beneficially (8) Shared Voting Power 2,066,525
Owned by Each ------------------------------------------------------
Reporting (9) Sole Dispositive Power 15,000
Person With ------------------------------------------------------
(10)Shared Dispositive Power 2,066,525
--------------------------------------------------------------------------------
(11) Aggregate Amount
Beneficially Owned by Each
Reporting Person 2,081,525
--------------------------------------------------------------------------------
(12) Check Box if the Aggregate [ ]
Amount in Row (11) Excludes
Certain Shares
--------------------------------------------------------------------------------
(13) Percent of Class Represented 9.4%*
by Amount in Row (11)
--------------------------------------------------------------------------------
(14) Type of Reporting Person IN
================================================================================
* Based on 22,259,424 shares of common stock outstanding as of April 25,
2005, as reported in the Company's Form 10-Q, as filed with the Securities
and Exchange Commission on May 9, 2005.
(1) Name of Reporting Person Neale M. Albert
I.R.S. Identification No.of
Above Person
--------------------------------------------------------------------------------
(2) Check the Appropriate Box (a)
if a Member of a Group ------------------------------------------
(b) X
------------------------------------------
--------------------------------------------------------------------------------
(3) SEC Use Only
--------------------------------------------------------------------------------
(4) Source of Funds OO
--------------------------------------------------------------------------------
(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 of (7) Sole Voting Power None
Shares ------------------------------------------------------
Beneficially (8) Shared Voting Power 703,650
Owned by Each ------------------------------------------------------
Reporting (9) Sole Dispositive Power None
Person With ------------------------------------------------------
(10)Shared Dispositive Power 703,650
------------------------ -------------------------------------------------------
(11) Aggregate Amount
Beneficially Owned by Each
Reporting Person 703,650
--------------------------------------------------------------------------------
(12) Check Box if the Aggregate [ ]
Amount in Row (11) Excludes
Certain Shares
--------------------------------------------------------------------------------
(13) Percent of Class Represented 3.2%*
by Amount in Row (11)
--------------------------------------------------------------------------------
(14) Type of Reporting Person IN
================================================================================
* Based on 22,259,424 shares of common stock outstanding as of April 25,
2005, as reported in the Company's Form 10-Q, as filed with the Securities
and Exchange Commission on May 9, 2005.
Amendment No. 8 to Schedule 13D
This Amendment No. 8 to Schedule 13D amends the Schedule 13D originally
filed on March 4, 2002 (the "Original Statement"), as supplemented and amended
by Amendment No. 1, dated October 31, 2002, Amendment No. 2, dated September 4,
2003, Amendment No. 3, dated September 29, 2003, Amendment No. 4 dated October
9, 2003, Amendment No. 5 dated October 16, 2003 and Amendment No. 6 dated
December 23, 2004 and Amendment No. 7 dated January 20, 2005 (the Original
Statement, as so amended, the "Schedule 13D"). Unless otherwise indicated, all
capitalized terms shall have the same meaning as provided in the Schedule 13D.
Except as set forth below, there are no changes to the information set forth in
the Schedule 13D.
Item 3. Source and Amount of Funds or Other Consideration
Item 3 of the Schedule 13D is hereby amended by adding the following:
On May 12, 2005, the Peltz LP made a bona fide gift of 35,200 shares
of Common Stock to the Nelson and Claudia Peltz Family Foundation, a trust
established for charitable purposes (the "Peltz Family Foundation").
Item 5. Interest in Securities of the Issuer.
Paragraphs (iii) and (iv) of Part (a)-(b) of Item 5 are amended and
restated to read in their entirety as follows:
(iii) As a co-trustee of each of the JM Trust and the LM Trust, Mr.
Albert shares with Mr. May voting and dispositive power over the 334,225
shares of Common Stock directly owned by the JM Trust, and the 334,225
shares of Common Stock directly owned by the LM Trust. As a co-trustee of
the Peltz Family Foundation, Mr. Albert shares voting and dispositive power
over of the 35,200 shares of Common Stock directly owned by the Peltz
Family Foundation. As a result, pursuant to Rule 13d-3 of the Exchange Act,
Mr. Albert may be deemed the beneficial owner of 703,650 shares, which
constitute approximately 3.2% of the Company's outstanding shares of Common
Stock (computed in accordance with Rule 13d-3 of the Exchange Act and on
the basis of 22,259,424 shares of Common Stock currently outstanding, as
reported in the Company's Form 10-Q filed with the Securities and Exchange
Commission on May 9, 2005). Mr. Albert disclaims beneficial ownership of
such shares;
(iv) On May 9, 2004 Mr. Peltz transferred all of his general
partnership interests in the Peltz LP to Claudia Peltz, his wife, as a
result of which Mrs. Peltz became the sole general partner of the Peltz LP.
Immediately thereafter, Mrs. Peltz contributed all of the general
partnership interests in the Peltz LP to a limited liability company of
which she is the sole member. Mr. Peltz may be deemed to beneficially own
the 1,461,824 shares of Common Stock directly owned by the Peltz LP. As a
co-trustee of the Peltz Family Foundation, Mr. Peltz shares voting and
dispositive power over of the 35,200 shares of Common Stock directly owned
by the Peltz Family Foundation. As a result of the Voting Agreement, Mr.
Peltz and Mr. May may be deemed to beneficially own, in the aggregate,
approximately 34.9% of the voting power of the outstanding Class A Common
Stock and Class B Common Stock, of Triarc, and thus Mr. Peltz shares voting
and dispositive power with Triarc and Mr. May over the 1,398,075 shares of
Common Stock beneficially owned by Triarc (see (ii) above). As a result,
pursuant to Rule 13d-3 of the Exchange Act, Mr. Peltz may be deemed the
indirect beneficial owner of (i) the 1,461,824 shares of Common Stock
directly owned by the Peltz LP, (ii) the 35,200 shares of Common Stock
directly owned by the Peltz Family Foundation and (iii) the 1,398,075
shares of Common Stock beneficially owned by Triarc, which, in the
aggregate, constitute approximately 13.0% of the Company's outstanding
shares of Common Stock (computed in accordance with Rule 13d-3 of the
Exchange Act and on the basis of 22,259,424 shares of Common Stock
currently outstanding, as reported in the Company's Form 10-Q filed with
the Securities and Exchange Commission on May 9, 2005). Mr. Peltz disclaims
beneficial ownership of such shares;
Part (a)-(b) of Item 5 is also hereby amended by adding the
following after paragraph (v):
(vi) The Peltz Family Foundation is the beneficial owner of 35,200
shares of Common Stock. Mr. and Mrs. Peltz, one of their adult children and
Mr. Albert serve as co-trustees of the Peltz Family Foundation. Mr. Peltz
may be deemed to beneficially own the shares of Common Stock owned by the
Peltz Family Foundation. Mr. Peltz disclaims beneficial ownership of such
shares.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement with respect to the
undersigned is true, complete and correct.
Date: May 25, 2005
MADISON WEST ASSOCIATES CORP.
By:/s/STUART I. ROSEN
------------------------------------------
Name: Stuart I. Rosen
Title: Senior Vice President and Secretary
TRIARC COMPANIES, INC.
By:/s/STUART I. ROSEN
----------------------------------------
Name: Stuart I. Rosen
Title:Senior Vice President and Secretary
/s/NELSON PELTZ
----------------------------------------
Nelson Peltz
/s/PETER W. MAY
----------------------------------------
Peter W. May
/s/NEALE M. ALBERT
----------------------------------------
Neale M. Albert
SCHEDULE I
DIRECTORS AND EXECUTIVE OFFICERS
TRIARC COMPANIES, INC.
Set forth below are the names, citizenship, addresses and, to the best
knowledge of the Reporting Persons, the beneficial ownership in the securities
of the Company of each of the directors and executive officers of Triarc, other
than Messrs. Peltz and May who are also Reporting Persons. (1)
Name Citizenship Residence or Business Address Beneficial Ownership
---------------------------- ---------------------- --------------------------------- -------------------------
Hugh L. Carey USA 805 Third Avenue
New York, NY 10022 0
Clive Chajet USA 575 Madison Avenue,
New York, NY 10022 0
Joseph A. Levato USA 280 Park Avenue
New York, NY 10017 0
Gregory H. Sachs USA 8700 West Bryn Mawr, 12th Fl.
Chicago, IL 60631 0
David E. Schwab II USA 1133 Avenue of the Americas
New York, NY 10036 0
Raymond S. Troubh USA 10 Rockefeller Plaza
New York, NY 10020 0
Gerald Tsai, Jr. USA 200 Park Avenue
New York, NY 10166 0
Jack G. Wasserman USA 280 Park Avenue
New York, NY 10017 0
Edward Garden USA 280 Park Avenue
New York, NY 10017 0
Brian L. Schorr USA 280 Park Avenue
New York, NY 10017 17,008 (2) (3)
Francis T. McCarron USA 280 Park Avenue
New York, NY 10017 0
Stuart I. Rosen USA 280 Park Avenue
New York, NY 10017 22,000 (2)
Fred H. Schaefer USA 280 Park Avenue
New York, NY 10017 50,000 (2)
Anne A. Tarbell USA 280 Park Avenue
New York, NY 10017 0
Douglas N. Benham USA 1000 Corporate Drive
Fort Lauderdale, FL 33334 0
1) To the best knowledge of the Reporting Persons, except where otherwise
noted, each of the directors and executive officers of Triarc listed above
(i) funded their purchase of shares of Common Stock reported herein from
personal funds; (ii) acquired the shares of Common Stock for investment
purposes; (iii) has sole voting and dispositive power over the shares
listed on this Schedule I and (iv) has the sole right to receive dividends
from, or the proceeds from the sale of the shares listed on this Schedule
I.
2) Consists of Common Stock.
3) The shares reported herein are held by Mr. Schorr's wife, as to which
shares Mr. Schorr disclaims beneficial ownership.
SCHEDULE II
DIRECTORS AND EXECUTIVE OFFICERS
MADISON WEST ASSOCIATES CORP.
Set forth below are the names, citizenship, addresses and, to the best
knowledge of the Reporting Persons, the beneficial ownership in the securities
of the Company of each of the directors and executive officers of Madison West.
(1)
Name Citizenship Residence or Business Beneficial Ownership
Address
Edward Garden USA 280 Park Avenue
New York, NY 10017 0
Francis T. McCarron USA 280 Park Avenue
New York, NY 10017 0
Brian L. Schorr USA 280 Park Avenue
New York, NY 10017 17,008 (2)
Stuart I. Rosen USA 280 Park Avenue
New York, NY 10017 22,000 (2)
Fred H. Schaefer USA 280 Park Avenue
New York, NY 10017 50,000 (2)
Anne A. Tarbell USA 280 Park Avenue
New York, NY 10017 0
1) To the best knowledge of the Reporting Persons, except where otherwise
noted, each of the directors and executive officers of Madison West
listed above (i) funded their purchase of shares of Common Stock
reported herein from personal funds; (ii) acquired the shares of
Common Stock for investment purposes; and (iii) has sole voting and
dispositive power over the shares listed on this Schedule II.
2) See Schedule I.