SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(RULE 13d-101)
UNDER THE SECURITIES EXCHANGE ACT OF 1934
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a)
Allied Holdings, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
019223106
(CUSIP Number)
Kathryn Sanders, Esq.
O'Melveny & Myers LLP
400 South Hope Street
Los Angeles, CA 90071
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
March 14, 2007
-------------------------------------------------------
(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 which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following
box. [X]
NOTE: Schedules filed in paper format shall include a signed original
and five copies of the schedule, including all exhibits. See Rule
13d-7(b) for other parties to whom copies are to be sent.
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).
CUSIP NO. 019223106 13D
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1 NAMES OF REPORTING PERSONS:
Sopris Partners, Series A of Sopris Capital Partners, LP
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
37-1520276
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE
INSTRUCTIONS) (a) [ ]
(b) [X]
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3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS (SEE INSTRUCTIONS)
OO
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5 CHECK 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 BENEFICIALLY OWNED BY EACH REPORTING
PERSON WITH:
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
0
--------------------------------------------------------------------------------
8. SHARED VOTING POWER
400,295
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9 SOLE DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
400,295
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
400,295
--------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS) [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.5%
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14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
PN
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2
CUSIP NO. 019223106 13D
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1 NAMES OF REPORTING PERSONS:
Sopris Capital, LLC
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
20-3978493
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE
INSTRUCTIONS) (a) [ ]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS (SEE INSTRUCTIONS)
OO
--------------------------------------------------------------------------------
5 CHECK 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 BENEFICIALLY OWNED BY EACH REPORTING
PERSON WITH:
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
0
--------------------------------------------------------------------------------
8. SHARED VOTING POWER
400,295
--------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
400,295
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
400,295
--------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS) [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.5%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO
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3
CUSIP NO. 019223106 13D
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1 NAMES OF REPORTING PERSONS:
Aspen Advisors LLC
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
13-4118717
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE
INSTRUCTIONS) (a) [ ]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS (SEE INSTRUCTIONS)
OO
--------------------------------------------------------------------------------
5 CHECK 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 BENEFICIALLY OWNED BY EACH REPORTING
PERSON WITH:
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
0
--------------------------------------------------------------------------------
8. SHARED VOTING POWER
244,800
--------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
244,800
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
244,800
--------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS) [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.7%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO, IA
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4
CUSIP NO. 019223106 13D
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1 NAMES OF REPORTING PERSONS:
Sopris Capital Advisors, LLC
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
20-3177754
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE
INSTRUCTIONS) (a) [ ]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS (SEE INSTRUCTIONS)
OO
--------------------------------------------------------------------------------
5 CHECK 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 BENEFICIALLY OWNED BY EACH REPORTING
PERSON WITH:
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
0
--------------------------------------------------------------------------------
8. SHARED VOTING POWER
645,095
--------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
645,095
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
645,095
--------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS) [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.2%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
OO, IA
--------------------------------------------------------------------------------
5
CUSIP NO. 019223106 13D
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1 NAMES OF REPORTING PERSONS:
Nikos Hecht
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) N/A
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE
INSTRUCTIONS) (a) [ ]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS (SEE INSTRUCTIONS)
OO
--------------------------------------------------------------------------------
5 CHECK 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 BENEFICIALLY OWNED BY EACH REPORTING
PERSON WITH:
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
0
--------------------------------------------------------------------------------
8. SHARED VOTING POWER
889,895
--------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
889,895
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
889,895
--------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS) [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.9%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN
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6
CUSIP NO. 019223106 13D
Item 1. Security and Issuer
This Statement on Schedule 13D is being filed with respect to the
Common Stock (the "Common Stock") of Allied Holdings, Inc., a Delaware
corporation (the "Company"). The address of the Company's principal place of
business is 160 Clairemont Avenue, Suite 200, Decatur, GA 30030.
Item 2. Identity and Background
(a-c)
This Statement on Schedule 13D is being filed by Sopris Partners,
Series A of Sopris Capital Partners, LP ("Sopris Partners"), Sopris Capital, LLC
("Sopris Capital"), Aspen Advisors LLC ("Aspen Advisors"), Sopris Capital
Advisors, LLC ("Sopris Advisors") and Nikos Hecht (each a "Reporting Person" and
collectively, the "Reporting Persons"). The principal business office of Aspen
Advisors is 152 West 57th Street, New York, NY, 10019. The principal business
office of each of Sopris Partners, Sopris Advisors, Sopris Capital and Mr. Hecht
is 314 S. Galena Street, Suite 300, Aspen, CO 81611.
Sopris Partners is a Delaware limited partnership and a private
investment partnership, investing principally in securities of distressed
companies. Sopris Capital is a Delaware limited liability company, the business
of which is acting as the general partner of Sopris Partners. Each of Aspen
Advisors and Sopris Advisors is a Delaware limited liability company, the
business of which is investment management for affiliated partnerships and
funds, including Sopris Partners, and a limited number of institutional and
other large private investors. Mr. Hecht is the managing member of Aspen
Advisors and Sopris Advisors and is the sole member of the managing member of
Sopris Capital, and is engaged, through Aspen Advisors and Sopris Advisors, in
the business of organizing private investment partnerships and providing
investment management to such partnerships and other institutional and private
investors.
As the managing member of Aspen Advisors and Sopris Advisors, the sole
member of the managing member of Sopris Capital and the owner of a majority of
the membership interests in each of Aspen Advisors, Sopris Advisors and Sopris
Capital, Mr. Hecht may be deemed to be the controlling person of Aspen Advisors,
Sopris Advisors and Sopris Capital and, through Sopris Capital, Sopris Partners.
(d) Criminal Proceedings
During the last five years, none of the Reporting Persons and, to the
knowledge of the Reporting Persons, no executive officer or director of any of
the Reporting Persons, has been convicted in a criminal proceeding (excluding
traffic violations or similar misdemeanors).
(e) Civil Securities Law Proceedings
7
CUSIP NO. 019223106 13D
During the last five years, none of the Reporting Persons and, to the
knowledge of the Reporting Persons, no executive officer or director of any of
the Reporting Persons, has been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of such proceeding
was or is subject to a judgment, decree or final order enjoining future
violations of, or prohibiting or mandating activities subject to, federal or
state securities laws or finding any violation with respect to such laws.
(f) Citizenship
Mr. Hecht is a citizen of the United States.
Item 3. Source and Amount of Funds or Other Consideration
Not applicable.
Item 4. Purpose of Transaction
Prior to March 14, 2007, the Reporting Persons reported their ownership
of Common Stock of the Company, which is currently operating as a
debtor-in-possession under Chapter 11 of the Bankruptcy Code, on Schedule 13G.
On March 14, 2007, Sopris Advisors submitted a letter to the Executive Chairman
of the Board of Directors of the Company seeking (a) to slow down the current,
highly-accelerated timetable in respect of a term sheet for a plan of
reorganization prepared by Yucaipa American Alliance Fund 1 L.P. and Yucaipa
American Alliance (Parallel) Fund 1 L.P. ("Yucaipa") and adopted by the Company
and filed as part of its Plan and Disclosure Statement on March 2, 2007 (the
"Yucaipa Plan") and (b) a "time-out" for the Company and the other parties in
interest to evaluate, in good faith, the summary of terms of the proposed plan
of reorganization prepared by Sopris Partners, Series A of Sopris Capital
Partners, LP (the "Sopris Plan"). In the March 14, 2007 letter, Sopris Advisors
also demands that the Company seek an order from the bankruptcy court (a) to
slow down the proceedings with respect to the Yucaipa Plan in order to provide
for a fair and open reorganization process that will maximize recoveries for the
Company's creditors and stockholders and (b) to determine that the proposed
labor concessions between the Company and the International Brotherhood of
Teamsters are not the exclusive property of Yucaipa but, rather belong to the
Company's (as a debtor) estate and may be enforced by the reorganized debtor
regardless of whether the Yucaipa Plan or the Sopris Plan prevails. The terms of
the Sopris Plan and a comparison of the Sopris Plan and the Yucaipa Plan are
attached as annexes to the March 14, 2007 letter from Sopris Advisors which is
included herein as Exhibit 7.01. The purpose of this Statement on Schedule 13D
is to disclose that the Reporting Persons are no longer holding securities of
the Company for investment purposes only.
The Reporting Persons do not presently intend to acquire additional
Common Stock or other securities of the Company. However, Sopris Advisors
continuously evaluates the investments and holdings of Sopris Partners and its
other clients and depending on various factors, could subsequently cause them to
acquire or dispose of Common Stock or other securities of the Company. The
8
CUSIP NO. 019223106 13D
amount, timing and conditions of any such possible purchase or sale will depend
on Sopris Advisors' continuing assessment of all relevant factors including,
without limitation, the Company's business and prospects and prospects in the
industry and markets in which the Company operates, the performance of
management and the actions of the Company's board of directors and other
stockholders of the Company, other business and investment opportunities
available to Sopris Partners, Sopris Advisors and Aspen Advisors, economic,
stock market, commodity market and money market conditions, the availability and
nature of opportunities for Sopris Partners, Sopris Advisors and Aspen Advisors
to dispose of securities of the Company or to acquire additional securities of
the Company, and other plans and requirements of Sopris Partners, Sopris
Advisors and Aspen Advisors. Depending on Sopris Advisors' and Aspen Advisor's
assessment of these factors from time to time, the Reporting Persons'
intentions, as stated above, could change
Item 5. Interest in Securities of the Issuer
(a, b)
(i) Amount beneficially owned:
Sopris Partners and Sopris Capital: 400,295
Aspen Advisors: 244,800
Sopris Advisors: 645,095
Mr. Hecht: 889,895
(ii) Percent of class:
Sopris Partners and Sopris Capital: 4.5%
Aspen Advisors: 2.7%
Sopris Advisors: 7.2%
Mr. Hecht: 9.9%
(iii) Number of shares as to which the person has:
(A) Sole power to vote or to direct the vote:
Sopris Partners and Sopris Capital: -0-
Aspen Advisors: -0-
Sopris Advisors: -0-
Mr. Hecht: -0-
(B) Shared power to vote or to direct the vote:
Sopris Partners and Sopris Capital: 400,295
Aspen Advisors: 244,800
Sopris Advisors: 645,095
Mr. Hecht: 889,895
9
CUSIP NO. 019223106 13D
(C) Sole power to dispose or to direct the disposition of:
Sopris Partners and Sopris Capital: -0-
Aspen Advisors: -0-
Sopris Advisors: -0-
Mr. Hecht: -0-
(D) Shared power to dispose or to direct the disposition of:
Sopris Partners and Sopris Capital: 400,295
Aspen Advisors: 244,800
Sopris Advisors: 645,095
Mr. Hecht: 889,895
Of the shares reported as beneficially owned in this Statement on
Schedule 13D, 400,295 shares are owned directly by Sopris Partners and 244,800
shares are owned by private clients of each of Aspen Advisors and Sopris
Advisors. Sopris Capital is the general partner of Sopris Partners and, as such,
may be deemed to share beneficial ownership of the Common Stock owned directly
by Sopris Partners. Mr. Hecht is the managing member of each of Aspen Advisors
and Sopris Advisors and is the sole member of the managing member of Sopris
Capital. As the managing member of Aspen Advisors and Sopris Advisors, the sole
member of the managing member of Sopris Capital and the owner of a majority of
the membership interests in each of Sopris Capital, Aspen Advisors and of Sopris
Advisors, Mr. Hecht may be deemed to be the controlling person of Sopris
Capital, Aspen Advisors and Sopris Advisors, and through Sopris Capital, Sopris
Partners. Each of Aspen Advisors and Sopris Advisors, as investment manager for
their respective private clients, and with respect to Sopris Advisors, also as
investment manager for Sopris Partners, has discretionary investment authority
over the Common Stock held by their respective private clients and Sopris
Partners, as applicable. Accordingly, Mr. Hecht may be deemed to be the
beneficial owner of the Common Stock held by Sopris Partners and the private
clients of Aspen Advisors and Sopris Advisors. Each of Sopris Partners and
Sopris Capital disclaims any beneficial interest in the Common Stock owned by
the accounts managed by Sopris Advisors and Aspen Advisors.
(c) During the 60 days preceding the filing of this Statement on Schedule 13D,
none of the Reporting Persons and, to their knowledge, none of the executive
officers and directors of the Reporting Persons, has engaged in any transactions
in Company Common Stock.
(d) The various private accounts of which Aspen Advisors and Sopris Advisors
serves as investment manager have the right to receive or the power to direct
the receipt of dividends from, or the proceeds from the sale of, Common Stock of
the Company. No such interest beneficially owned by any private account relates
to more than 5% of the Common Stock of the Company.
10
CUSIP NO. 019223106 13D
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings, or Relationships with
respect to Securities of the Issuer
Not applicable.
Item 7. Material to be Filed as Exhibits
Exhibit 7.01 Letter dated March 14, 2007 from Sopris Capital
Advisors LLC to the Executive Chairman of the Board
of Directors of Allied Holdings, Inc. and all annexes
and exhibits attached thereto.
11
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information in this statement is true, complete and correct.
Dated: March 14, 2007
SOPRIS PARTNERS, SERIES A of
SOPRIS CAPITAL PARTNERS, L.P.
By: SOPRIS CAPITAL, LLC
Its general partner
By: /s/ NIKOS HECHT
------------------------------------
Name: Nikos Hecht
Title: Sole Member of the Managing
Member
SOPRIS CAPITAL, LLC
By: /s/ NIKOS HECHT
------------------------------------
Name: Nikos Hecht
Title: Sole Member of the
Managing Member
ASPEN ADVISORS LLC
By: /s/ NIKOS HECHT
------------------------------------
Name: Nikos Hecht
Title: Managing Member
SOPRIS CAPITAL ADVISORS, LLC
By: /s/ NIKOS HECHT
------------------------------------
Name: Nikos Hecht
Title: Managing Member
/s/ NIKOS HECHT
------------------------------------
Nikos Hecht
12