UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 10)*
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)
January 23, 2006
-------------------------
(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
- --------------------------------------------------------------------------------
(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 Delaware
- --------------------------------------------------------------------------------
Number of Shares (7) Sole Voting Power None
Beneficially Owned by -------------------------------------------------------
Each Reporting Person (8) Shared Voting Power 1,096,800
With -------------------------------------------------------
(9) Sole Dispositive Power None
-------------------------------------------------------
(10)Shared Dispositive Power 1,096,800
- --------------------------------------------------------------------------------
(11) Aggregate Amount
Beneficially Owned by Each
Reporting Person 1,096,800
- --------------------------------------------------------------------------------
(12) Check Box if the Aggregate Amount in [ ]
Row (11) Excludes Certain Shares
- --------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in 4.9%*
Row (11)
- --------------------------------------------------------------------------------
(14) Type of Reporting Person CO
* Based on 22,572,585 shares of Common Stock outstanding as of October 20, 2005,
as reported in the Company's Form 10-Q, as filed with the Securities and
Exchange Commission on November 3, 2005.
(1) Name of Reporting Person Triarc Companies, Inc.
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 Delaware
- --------------------------------------------------------------------------------
Number of Shares (7) Sole Voting Power None
Beneficially Owned by -------------------------------------------------------
Each Reporting Person (8) Shared Voting Power 1,198,075
With -------------------------------------------------------
(9) Sole Dispositive Power None
-------------------------------------------------------
(10)Shared Dispositive Power 1,198,075
- --------------------------------------------------------------------------------
(11) Aggregate Amount
Beneficially Owned by Each
Reporting Person 1,198,075
- --------------------------------------------------------------------------------
(12) Check Box if the Aggregate Amount in [ ]
Row (11) Excludes Certain Shares
- --------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in 5.3%*
Row (11)
- --------------------------------------------------------------------------------
(14) Type of Reporting Person CO
* Based on 22,572,585 shares of Common Stock outstanding as of October 20, 2005,
as reported in the Company's Form 10-Q, as filed with the Securities and
Exchange Commission on November 3, 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
Organization United States
- --------------------------------------------------------------------------------
Number of Shares (7) Sole Voting Power None
Beneficially Owned by -------------------------------------------------------
Each Reporting Person (8) Shared Voting Power 2,415,734
With -------------------------------------------------------
(9) Sole Dispositive Power None
-------------------------------------------------------
(10)Shared Dispositive Power 2,415,734
- --------------------------------------------------------------------------------
(11) Aggregate Amount
Beneficially Owned by Each
Reporting Person 2,415,734
- --------------------------------------------------------------------------------
(12) Check Box if the Aggregate Amount in [ ]
Row (11) Excludes Certain Shares
- --------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in 10.7%*
Row (11)
- --------------------------------------------------------------------------------
(14) Type of Reporting Person IN
* Based on 22,572,585 shares of Common Stock outstanding as of October 20, 2005,
as reported in the Company's Form 10-Q, as filed with the Securities and
Exchange Commission on November 3, 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
Organization United States
- --------------------------------------------------------------------------------
Number of Shares (7) Sole Voting Power 15,000
Beneficially Owned by -------------------------------------------------------
Each Reporting Person (8) Shared Voting Power 1,198,075
With -------------------------------------------------------
(9) Sole Dispositive Power 15,000
-------------------------------------------------------
(10)Shared Dispositive Power 1,198,075
- --------------------------------------------------------------------------------
(11) Aggregate Amount
Beneficially Owned by Each
Reporting Person 1,213,075
- --------------------------------------------------------------------------------
(12) Check Box if the Aggregate Amount in [ ]
Row (11) Excludes Certain Shares
- --------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in 5.4%*
Row (11)
- --------------------------------------------------------------------------------
(14) Type of Reporting Person IN
* Based on 22,572,585 shares of Common Stock outstanding as of October 20, 2005,
as reported in the Company's Form 10-Q, as filed with the Securities and
Exchange Commission on November 3, 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 Shares (7) Sole Voting Power None
Beneficially Owned by -------------------------------------------------------
Each Reporting Person (8) Shared Voting Power 43,635
With -------------------------------------------------------
(9) Sole Dispositive Power None
-------------------------------------------------------
(10)Shared Dispositive Power 43,635
- --------------------------------------------------------------------------------
(11) Aggregate Amount
Beneficially Owned by Each
Reporting Person 43,635
- --------------------------------------------------------------------------------
(12) Check Box if the Aggregate Amount in [ ]
Row (11) Excludes Certain Shares
- --------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in 0.2%*
Row (11)
- --------------------------------------------------------------------------------
(14) Type of Reporting Person IN
* Based on 22,572,585 shares of Common Stock outstanding as of October 20, 2005,
as reported in the Company's Form 10-Q, as filed with the Securities and
Exchange Commission on November 3, 2005.
Amendment No. 10 to Schedule 13D
This Amendment No. 10 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, Amendment No. 7 dated January 20, 2005, Amendment No. 8 dated
May 12, 2005 and Amendment No. 9 dated June 17, 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 2. Identity and Background
Schedules I and II are hereby amended and restated as set
forth herein and are incorporated herein by reference.
Item 3. Source and Amount of Funds or other Consideration
Item 3 of the Schedule 13D is hereby amended by adding the
following:
On January 23, 2006, the Peltz LP pledged 1,174,024 shares of
Common Stock to a third party brokerage firm as security for a margin
account.
Item 4. Purpose of Transaction
On November 22, 2005 and January 4, 2006, the Peltz Family
Foundation made bona fide donations aggregating 2,580 and 13,450
shares, respectively, of Common Stock. On December 22, 2005, the Peltz
LP made a bona fide gift of 27,800 shares of Common Stock to the Peltz
Family Foundation.
Item 5. Interest in Securities of the Issuer.
Paragraphs (iii), (iv) and (vi) of Part (a)-(b) of Item 5 are
amended and restated to read in their entirety as follows:
(iii) As a co-trustee of the Peltz Family Foundation, Mr. Albert
shares voting and dispositive power over of the 43,635 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 43,635 shares, which constitute approximately 0.2% 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 22,572,585 shares of
Common Stock outstanding as of October 20, 2005, as reported in the
Company's Form 10-Q filed with the Securities and Exchange Commission on
November 3, 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. On January 23, 2006, the Peltz Family
Foundation pledged 1,174,924 shares of Common Stock to a third party
brokerage firm as security for a margin account. Mr. Peltz may be deemed to
beneficially own the 1,174,024 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 43,635 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 45.2% 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
1,198,075 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 1,174,024 shares of
Common Stock directly owned by the Peltz LP, (ii) the 43,635 shares of
Common Stock directly owned by the Peltz Family Foundation and (iii) the
1,198,075 shares of Common Stock beneficially owned by Triarc, which, in
the aggregate, constitute approximately 10.7% 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 22,572,585 shares of Common Stock
outstanding as of October 20, 2005, as reported in the Company's Form 10-Q
filed with the Securities and Exchange Commission on November 3, 2005). Mr.
Peltz disclaims beneficial ownership of such shares;
(vi) The Peltz Family Foundation is the beneficial owner of 43,635
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
and Mr. Albert may be deemed to beneficially own the shares of Common Stock
owned by the Peltz Family Foundation. Each of Mr. Peltz and Mr. Albert
disclaims beneficial ownership of such shares.
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer
Item 6 of the Schedule 13D is hereby amended by adding the
following:
On January 23, 2006, the Peltz LP pledged 1,174,024 shares of
Common Stock to a third-party brokerage firm as security for a margin
account.
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: February 3, 2006
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
- ------------------------------- --------------------- --------------------------------- -------------------------
Russell V. Umphenour, Jr. USA 5995 Barfield Road
Atlanta, GA 30328 0
- ------------------------------- --------------------- --------------------------------- -------------------------
Brian L. Schorr USA 280 Park Avenue
New York, NY 10017 5,008 (2) (3)
- ------------------------------- --------------------- --------------------------------- -------------------------
Francis T. McCarron USA 280 Park Avenue
New York, NY 10017 0
- ------------------------------- --------------------- --------------------------------- -------------------------
Greg Essner 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 1155 Perimeter Center West
Atlanta, Georgia 30338 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 5,008 (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.