Filing Details

ALTISOURCE PORTFOLIO SOLUTIONS S.A.

(Name of Issuer)

Common Stock, par value $1.00 per share

(Title of Class of Securities)

L0175J104

(CUSIP Number)

Bradley Craig 1195 Bangtail Way Steamboat Springs, Colorado 80487 (970) 457-4340

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

September 25, 2018

(Date of Event which Requires Filing of this Statement)

	SCHEDULE 13D
CUSIP No. L0175J104		Page 2 of 9 Pages

 

1	NAMES OF REPORTING PERSONS
	I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
	DEER PARK ROAD MANAGEMENT COMPANY, LP
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP			(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 ITEM 2(D) OR 2(E)				☐
6	CITIZENSHIP OR PLACE OF ORGANIZATION
	Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		7	SOLE VOTING POWER
			0
		8	SHARED VOTING POWER
			3,076,210
		9	SOLE DISPOSITIVE POWER
			0
		10	SHARED DISPOSITIVE POWER
			3,076,210
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	3,076,210
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)
	18.1 % (1)
14	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	IA, PN

 

 

 

 

 

 

 

 

 

 

	SCHEDULE 13D
		Page 8 of 9 Pages

 

This Amendment No. 3 to Schedule 13D (“Amendment No. 3”) is being filed by the undersigned, pursuant to §240.13d-2(a), with respect to the common stock, par value $1.00 per share (the “Shares”), of Altisource Portfolio Solutions S.A. (the “Issuer” or the “Company”), whose principal executive offices are located at 40, avenue Monterey, L-2163 Luxembourg, Grand Duchy of Luxembourg.  This Amendment No.32 amends and supplements the Schedule 13D filed by the Reporting Persons with the Securities and Exchange Commission (the “SEC”) on August 17, 2018, as amended by Amendment No. 1, filed with the SEC on August 24, 2018, and Amendment No. 2, filed with the SEC on August 30, 2018 (collectively, the “Schedule 13D”).

 

Except as specifically provided herein, this Amendment No. 3 does not modify any of the information previously reported in the Schedule 13D.  Capitalized terms used but not defined in this Amendment No. 3 shall have the meanings given them in the Schedule 13D.

 

Item 4.

Purpose of Transaction

 

 

On September 25, 2018, the Issuer held a Special General Meeting of Shareholders (“the Special Meeting”) to elect an additional director to the Board.  At the Special Meeting, Mr. Burg was elected as an independent director to the Issuer’s Board until the 2019 Annual Meeting of the Issuer’s Shareholders or until a successor has been elected and qualified.  In connection with Mr. Burg’s election, he was awarded 500 restricted Shares (“Restricted Shares”).  The Restricted Shares are scheduled to vest in four equal installments beginning on the date of the Issuer’s 2019 annual meeting of Shareholders and continuing on the dates of the next three annual meetings of Shareholders, subject to Mr. Burg’s continued service through each vesting date.

 

Item 5.

Interest in Securities of the Issuer

 

 

 (a, b) As of the date hereof, each of Deer Park, DPRM, DPRC, Mr. Craig-Scheckman, and AgateCreek may be deemed to be the beneficial owner of 3,076,210 Shares (approximately 18.1% of the total number of Shares outstanding).

 

As of the date hereof, Mr. Burg may be deemed to be the beneficial owner of 3,076,710 Shares (approximately 18.1% of the total number of Shares outstanding).  This amount includes (i) 3,076,710 Shares he may be deemed to share voting and dispositive power with each of Deer Park, DPRM, DPRC, Mr. Craig-Scheckman, and AgateCreek, and (ii) 500 Restricted Shares subject to the vesting conditions described in Item 4 herein.

 

The beneficial ownership percentage is based on a total of 17,040,916 Shares outstanding as of August 9, 2018, as disclosed in the Issuer’s definitive proxy statement on Schedule 14A, as filed with the Securities and Exchange Commission on August 14, 2018.

 

 (c) Except as otherwise disclosed in Item 4 herein, no other transactions in the Shares have been effected by the Reporting Persons within the past 60 days.

 

	SCHEDULE 13D
		Page 9 of 9 Pages

 

SIGNATURE

 

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

 

	DEER PARK ROAD MANAGEMENT, LP
	By:	/s/ Brad Craig
		Name: Brad Craig
		Title:   Chief Operating Officer

 

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