Sec Form 13D Filing - Pardus Capital Management L.P. filing for VISTEON CORP COM (VC) - 2009-05-29

Insider filing report for Changes in Beneficial Ownership

  • Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
  • Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D

 

Under the Securities Exchange Act of 1934

(Amendment No. 10)*

VISTEON CORPORATION

(Name of Issuer)

 

Common Stock, par value $1.00 per share

(Title of Class of Securities)

 

92839U107

(CUSIP Number)

 

Mr. Joseph Thornton

Pardus Capital Management L.P.

590 Madison Avenue, Suite 25E

New York, New York 10022

(212) 381-7350

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)

 

May 28, 2009

(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 §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(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 Rule §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 purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

Continued on following page(s)

Page 1 of 6 Pages

 

 



CUSIP No. 92839U107                                             Schedule 13D                                        Page 2 of 6 Pages

 

 

1

Names of Reporting Persons

I.R.S. Identification Nos. of above persons (entities only)

 

Pardus Capital Management L.P.

2

Check the Appropriate Box If a Member of a Group (See Instructions)

 

a.

[  ]

 

b.

[  ]

3

SEC Use Only

4

Source of Funds (See Instructions)

AF

5

Check Box If Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)

 

[

]

6

Citizenship or Place of Organization

Delaware

 

 

7

Sole Voting Power

Number of

Shares

 

0

Beneficially

Owned By

Each

8

Shared Voting Power

0

Reporting

Person

With

9

Sole Dispositive Power

0

 

10

Shared Dispositive Power

 

 

0

 

11

Aggregate Amount Beneficially Owned by Each Reporting Person

0

12

Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

[  ]

13

Percent of Class Represented By Amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

IA

 


 

CUSIP No. 92839U107                                            Schedule 13D                                          Page 3 of 6 Pages

 

The Schedule 13D filed on May 1, 2006, by Pardus Capital Management L.P., a Delaware limited partnership ("PCM"), relating to the shares of common stock, $1.00 par value (the "Shares"), of Visteon Corporation (the "Issuer"), as amended by Amendment Nos. 1, 2, 3, 4, 5, 6, 7, 8 and 9 to the Schedule 13D, is hereby amended by this Amendment No. 10 to the Schedule 13D to report that, as a result of the recent disposition of shares of the Issuer, the Reporting Persons may no longer be deemed the beneficial owner of more than five percent of the Shares.

 

Item 5.

Interest in Securities of the Issuer.

Item 5, paragraphs (a), (b), (c) and (e) of the Schedule 13D are hereby amended and restated as follows:

(a) The Reporting Persons beneficially own no Shares, constituting 0.0% of the Shares outstanding.

(b) PCM possesses sole power to vote and direct the disposition of all of the Shares held by the Fund. Thus, as of the close of business on May 28, 2009, the Reporting Persons may be deemed to beneficially own no Shares, or 0.0% of the Shares deemed issued and outstanding as of that date.

(c) Information concerning transactions in the Shares effected by PCM since the most recent filing on Schedule 13D is set forth in Schedule A hereto and is incorporated by reference. Unless otherwise indicated, all of such transactions were effected in the open market.

(e) On May 28, 2009, the Reporting Persons ceased to be the beneficial owner of more than five percent of the Shares.

 


               

CUSIP No. 92839U107                                                Schedule 13D                                        Page 4 of 6 Pages

 
 

      SIGNATURES

 

After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Date: May 29, 2009

PARDUS CAPITAL MANAGEMENT L.P.

 

 

By:

/s/ Karim Samii

Karim Samii, in his capacity as the sole member of Pardus Capital Management LLC, the sole general partner of Pardus Capital Management L.P.

 


 

CUSIP No. 92839U107                                                Schedule 13D                                       Page 5 of 6 Pages

 
 

       SCHEDULE A

 

Pardus Special Opportunities Master Fund L.P.

Trade Date

 

Shares Sold

 

Price per Share
(excluding execution costs)

05/28/2009

 

3,300,000

 

$0.055

05/28/2009

 

1,000,000

 

$0.055

05/28/2009

 

1,000,000

 

$0.055

05/28/2009

 

800,000

 

$0.055

05/28/2009

 

500,000

 

$0.055

05/28/2009

 

425,000

 

$0.055

05/28/2009

 

30,000

 

$0.055

05/28/2009

 

20,000

 

$0.055

05/28/2009

 

350,000

 

$0.0552

05/28/2009

 

570,000

 

$0.0554

05/28/2009

 

130,000

 

$0.0554

05/28/2009

 

1,000,000

 

$0.057

05/28/2009

 

500,000

 

$0.057

05/28/2009

 

1,850,000

 

$0.058

05/28/2009

 

500,000

 

$0.058

05/28/2009

 

250,000

 

$0.06

05/28/2009

 

125,000

 

$0.06

05/28/2009

 

800,000

 

$0.061

05/28/2009

 

340,000

 

$0.0615

05/28/2009

 

250,000

 

$0.0615

05/28/2009

 

400,000

 

$0.062

05/28/2009

 

700,000

 

$0.0631

05/28/2009

 

1,500,000

 

$0.064

05/28/2009

 

700,000

 

$0.064

05/28/2009

 

250,000

 

$0.064

05/28/2009

 

250,000

 

$0.064

05/28/2009

 

200,000

 

$0.064

05/28/2009

 

100,000

 

$0.064

05/28/2009

 

100,000

 

$0.064

05/28/2009

 

100,000

 

$0.064

05/28/2009

 

50,000

 

$0.064

05/28/2009

 

700,000

 

$0.065

05/28/2009

 

50,000

 

$0.065

05/28/2009

 

379,000

 

$0.066

05/28/2009

 

300,000

 

$0.066

05/28/2009

 

10,000

 

$0.066

05/28/2009

 

700,000

 

$0.0661

05/28/2009

 

250,000

 

$0.067

05/28/2009

 

250,000

 

$0.067

05/28/2009

 

50,000

 

$0.067

05/28/2009

 

100,000

 

$0.0671

05/28/2009

 

50,000

 

$0.0671

05/28/2009

 

1,500,000

 

$0.068

05/28/2009

 

600,000

 

$0.068

05/28/2009

 

300,000

 

$0.068

05/28/2009

 

275,000

 

$0.068

 

 


 

CUSIP No. 92839U107                                              Schedule 13D                                         Page 6 of 6 Pages

 

 

05/28/2009

 

100,000

 

$0.068

05/28/2009

 

50,000

 

$0.068

05/28/2009

 

50,000

 

$0.068

05/28/2009

 

40,000

 

$0.068

05/28/2009

 

30,000

 

$0.068

05/28/2009

 

25,000

 

$0.068

05/28/2009

 

25,000

 

$0.068

05/28/2009

 

300,000

 

$0.0681

05/28/2009

 

100,000

 

$0.0681

05/28/2009

 

400,000

 

$0.0685

05/28/2009

 

500,000

 

$0.069

05/28/2009

 

250,000

 

$0.069

05/28/2009

 

225,000

 

$0.069

05/28/2009

 

200,000

 

$0.069

05/28/2009

 

150,000

 

$0.069

05/28/2009

 

50,000

 

$0.069

05/28/2009

 

50,000

 

$0.069

05/28/2009

 

48,000

 

$0.069

05/28/2009

 

50,000

 

$0.0695

05/28/2009

 

50,000

 

$0.0695

05/28/2009

 

30,000

 

$0.0695

05/28/2009

 

20,000

 

$0.0696

05/28/2009

 

500,000

 

$0.07

05/28/2009

 

350,000

 

$0.07

05/28/2009

 

300,000

 

$0.07

05/28/2009

 

250,000

 

$0.07

05/28/2009

 

223,000

 

$0.07

05/28/2009

 

200,000

 

$0.07

05/28/2009

 

160,000

 

$0.07

05/28/2009

 

125,000

 

$0.07

05/28/2009

 

100,000

 

$0.07

05/28/2009

 

100,000

 

$0.07

05/28/2009

 

90,000

 

$0.07

05/28/2009

 

70,000

 

$0.07

05/28/2009

 

50,000

 

$0.07

05/28/2009

 

25,000

 

$0.07

05/28/2009

 

20,000

 

$0.07

05/28/2009

 

250,000

 

$0.0705

05/28/2009

 

100,000

 

$0.0705

05/28/2009

 

100,000

 

$0.0705

05/28/2009

 

50,000

 

$0.0705

05/28/2009

 

100,000

 

$0.071

05/28/2009

 

50,000

 

$0.071

05/28/2009

 

40,000

 

$0.071

05/28/2009

 

140,000

 

$0.0715

05/28/2009

 

160,000

 

$0.0718

05/28/2009

 

50,000

 

$0.072

05/28/2009

 

50,000

 

$0.073

05/28/2009

 

50,000

 

$0.073

05/28/2009

 

50,000

 

$0.073