Filing Details

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SCHEDULE 13D

 

Under the Securities Exchange Act of 1934

(Amendment No. 5)

 

ALTISOURCE PORTFOLIO SOLUTIONS S.A.

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(Name of Issuer)

 

Common Stock, par value $1.00 per share

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(Title of Class of Securities)

 

L0175J104

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(CUSIP Number)

Bradley W. Craig

1195 Bangtail Way

Steamboat Springs, Colorado 80487

(970) 457-4340

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(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

 

March 13, 2020

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(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 240.13d-7(b) 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).

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	SCHEDULE 13D
CUSIP No. L0175J104		Page 3 of 11 Pages

	SCHEDULE 13D
CUSIP No. L0175J104		Page 5 of 11 Pages

Item 2.

Identity and Background

(e) On June 4, 2019, Deer Park and Mr. Burg, without admitting or denying any alleged violation, entered into a settlement with the Securities and Exchange Commission (the “SEC”) resolving an investigation into Deer Park’s policies and procedures pertaining to its valuation of fund assets. Under the terms of the settlement: (i) Deer Park agreed to pay a civil money penalty of  $5 million and Mr. Burg agreed to pay a civil money penalty of $250,000; (ii) Deer Park was censured; (iii) each Deer Park and Mr. Burg agreed to cease and desist from committing or causing any violations or any future violations of Section 206(4) of the Investment Advisers Act of 1940 and Rule 206(4)-7 thereunder; and (iv) Deer Park undertook to conclude its work with an independent compliance consultant (the “Consultant”), whom Deer Park hired during the SEC’s investigation to conduct a comprehensive review of Deer Park’s policies and procedures for valuing assets in its private funds and processes for complying with GAAP in such valuations. Deer Park has adopted and implemented all of the recommendations in the Consultant’s final report.

Item 3.

Source and Amount of Funds or Other Considerations

Item 5.

Interest in the Securities of the Issuer

Item 7.

Materials to be Filed as Exhibits

Exhibit C:

Schedule of Transactions, in response to Item 5(c)

	SCHEDULE 13D
		Page 10 of 11 Pages

	MICHAEL CRAIG-SCHECKMAN
	By:	/s/ Bradley W. Craig
	Name:	Bradley W. Craig
	Title:	Attorney-in-fact for Michael Craig-Scheckman

EXHIBIT C

(1) This price reflects the weighted average price for open-market purchases of Shares made by the Reporting Persons on March 12, 2020 within a $1.00 range. The actual prices for these transactions range between $6.59 to $7.35. The Reporting Persons further undertake to provide upon request by the Commission staff, the Issuer, or a security holder of the Issuer, full information regarding the number of shares purchased at each separate price set forth in footnotes (1) through (4) to this Exhibit C herein.