================================================================================
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
AMENDMENT NO. 6 TO
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Zenith National Insurance Corp.
-------------------------------
(Name of Issuer)
Common Stock, $1.00 Par Value
-------------------------------
(Title of Class of Securities)
989390109
-------------------------------
(CUSIP Number)
Paul Rivett
Vice President
Fairfax Financial Holdings Limited
95 Wellington Street West, Suite 800
Toronto, Ontario, Canada, M5J 2N7
Telephone: (416) 367-4941
-------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
-- With a copy to --
Christopher J. Cummings
Shearman & Sterling LLP
Commerce Court West
199 Bay Street, Suite 4405
Toronto, Ontario M5L 1E8
Telephone (416) 360-8484
February 7, 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 which is the subject of this Schedule 13D, and is filing this
schedule became of Rule 13d-1(b)(3) or (4), check the following box [ ].
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 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. 989390109 13D Page 2 of 32 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
V. PREM WATSA
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) OR 2(e). [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
CANADIAN
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
--------------------------------------------------
8 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY 0
OWNED BY EACH REPORTING ---------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
---------------------------------------------------
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) (see Item 5)
0.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
IN
--------------------------------------------------------------------------------
2
Cusip No. 989390109 13D Page 3 of 32 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
1109519 ONTARIO LIMITED
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) OR 2(e). [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
ONTARIO, CANADA
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
--------------------------------------------------
8 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY 0
OWNED BY EACH REPORTING ---------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
---------------------------------------------------
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) (see Item 5)
0.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
CO
--------------------------------------------------------------------------------
3
Cusip No. 989390109 13D Page 4 of 32 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
THE SIXTY TWO INVESTMENT COMPANY LIMITED
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) OR 2(e). [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
BRITISH COLUMBIA, CANADA
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
--------------------------------------------------
8 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY 0
OWNED BY EACH REPORTING ---------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
---------------------------------------------------
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) (see Item 5)
0.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
CO
--------------------------------------------------------------------------------
4
Cusip No. 989390109 13D Page 5 of 32 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
810679 ONTARIO LIMITED
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) OR 2(e). [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
ONTARIO, CANADA
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
--------------------------------------------------
8 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY 0
OWNED BY EACH REPORTING ---------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
---------------------------------------------------
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) (see Item 5)
0.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
CO
--------------------------------------------------------------------------------
5
Cusip No. 989390109 13D Page 6 of 32 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
FAIRFAX FINANCIAL HOLDINGS LIMITED
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) OR 2(e). [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
CANADA
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
--------------------------------------------------
8 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY 0
OWNED BY EACH REPORTING ---------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
---------------------------------------------------
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) (see Item 5)
0.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
CO
--------------------------------------------------------------------------------
6
Cusip No. 989390109 13D Page 7 of 32 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
CRC (BERMUDA) REINSURANCE LIMITED
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) OR 2(e). [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
BERMUDA
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
--------------------------------------------------
8 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY 0
OWNED BY EACH REPORTING ---------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
---------------------------------------------------
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)
CO
--------------------------------------------------------------------------------
7
Cusip No. 989390109 13D Page 8 of 32 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
FFHL GROUP LTD.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) OR 2(e). [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
CANADA
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
--------------------------------------------------
8 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY 0
OWNED BY EACH REPORTING ---------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
---------------------------------------------------
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) (see Item 5)
0.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
CO
--------------------------------------------------------------------------------
8
Cusip No. 989390109 13D Page 9 of 32 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
FAIRFAX INC.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) OR 2(e). [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
WYOMING
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
--------------------------------------------------
8 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY 0
OWNED BY EACH REPORTING ---------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
---------------------------------------------------
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) (see Item 5)
0.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
CO
--------------------------------------------------------------------------------
9
Cusip No. 989390109 13D Page 10 of 32 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
CRUM & FORSTER HOLDINGS CORP.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
--------------------------------------------------
8 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY 0
OWNED BY EACH REPORTING ---------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
---------------------------------------------------
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)
CO
--------------------------------------------------------------------------------
10
Cusip No. 989390109 13D Page 11 of 32 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
CRUM & FORSTER HOLDING INC.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
--------------------------------------------------
8 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY 0
OWNED BY EACH REPORTING ---------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
---------------------------------------------------
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)
CO
--------------------------------------------------------------------------------
11
Cusip No. 989390109 13D Page 12 of 32 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
UNITED STATES FIRE INSURANCE COMPANY
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
--------------------------------------------------
8 SHARED VOTING POWER
NUMBER OF SHARES
BENEFICIALLY 0
OWNED BY EACH REPORTING ---------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
---------------------------------------------------
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)
CO
--------------------------------------------------------------------------------
12
This Amendment No. 6 amends the Statement on Schedule 13D
filed with the Securities and Exchange Commission (the "Commission") on July 6,
1999 by Fairfax Financial Holdings Limited ("Fairfax"), Hamblin Watsa Investment
Counsel Ltd., The Sixty Two Investment Company Limited and V. Prem Watsa
relating to the purchase of 6,574,445 shares of common stock, par value $1.00
per share (the "Common Stock"), of Zenith National Insurance Corp., a Delaware
insurance holding company ("Zenith"), pursuant to a Stock Purchase Agreement
(the "1999 Stock Purchase Agreement") dated as of June 25, 1999 between Fairfax
and Reliance Insurance Company, which Statement on Schedule 13D (such schedule,
as amended, being the "Schedule 13D") was amended by (i) Amendment No. 1 to the
Statement on Schedule 13D relating to the Stock Purchase Agreement (the "2001
Stock Purchase Agreement") dated as of November 21, 2001 between Clearwater
Insurance Company ("Clearwater"), a Delaware corporation, formerly known as
Odyssey Reinsurance Corporation, and Zenith, providing for the purchase and sale
of 1,000,000 shares of Common Stock of Zenith, (ii) Amendment No. 2 to the
Statement on Schedule 13D relating to the purchase on March 21, 2003 by Odyssey
America Reinsurance Corporation ("Odyssey America"), a Connecticut corporation,
of $30,000,000 aggregate principal amount of 5.75% convertible senior notes due
2023 of Zenith (the "Senior Notes"), which Senior Notes are currently
convertible, as described below in Item 5, into 1,200,000 shares of Common Stock
of Zenith, (iii) Amendment No. 3 to the Statement on Schedule 13D relating to
the sale of 3,100,000 shares of Common Stock of Zenith by certain subsidiaries
of Fairfax pursuant to an underwriting agreement, dated as of July 27, 2004,
among the underwriters named in Schedule A thereto, Zenith and certain
subsidiaries of Fairfax, as selling stockholders, in connection with the sale of
such shares in a public offering pursuant to a registration statement on Form
S-3 filed by Zenith with the Commission; (iv) Amendment No. 4 to the Statement
on Schedule 13D relating to the sale of 2,000,000 shares of Common Stock of
Zenith by certain subsidiaries of Fairfax on August 2, 2005; and (v) Amendment
No. 5 to the Statement on Schedule 13D relating to the sale of 157,524 shares of
Common Stock of Zenith and $30,000,000 aggregate principal amount of the Senior
Notes by certain subsidiaries of Fairfax on September 29, 2005.
This Amendment No. 6 relates to the sale (the "Transaction")
of 3,846,031 shares of Common Stock of Zenith by certain subsidiaries of Fairfax
on February 7, 2006. After the Transaction, Fairfax beneficially owns zero
shares of Common Stock of Zenith.
The following amendments to Items 2, 4, 5 and 7 of the
Schedule 13D are hereby made.
ITEM 2. IDENTITY AND BACKGROUND
Item 2 of the Schedule 13D is hereby amended in its entirety
to read as follows:
"This statement is being jointly filed by the following
persons (collectively, the "Reporting Persons"):
1. V. Prem Watsa, an individual, is a citizen of Canada.
Mr. Watsa's business address is 95 Wellington Street
West, Suite 800, Toronto, Ontario, Canada, M5J 2N7;
13
2. 1109519 Ontario Limited ("1109519"), a corporation
incorporated under the laws of Ontario, is controlled
by V. Prem Watsa. The principal business of 1109519
is as an investment holding company. The principal
business address and principal office address of
1109519 is 95 Wellington Street West, Suite 800,
Toronto, Ontario, M5J 2N7;
3. The Sixty Two Investment Company Limited ("Sixty
Two"), a corporation incorporated under the laws of
British Columbia, is controlled by V. Prem Watsa. The
principal business of Sixty Two is as an investment
holding company. The principal business address and
principal office address of Sixty Two is 1600
Cathedral Place, 925 West Georgia St., Vancouver,
British Columbia, Canada, V6C 3L3;
4. 810679 Ontario Limited ("810679"), a corporation
incorporated under the laws of Ontario, is controlled
by V. Prem Watsa. The principal business of 810679 is
as an investment holding company. The principal
business address and principal office address of
810679 is 95 Wellington Street West, Suite 800,
Toronto, Ontario, Canada, M5J 2N7;
5. Fairfax, a corporation incorporated under the laws of
Canada, is controlled by Sixty Two, 1109519, and V.
Prem Watsa. Fairfax is a financial services holding
company. The principal business and principal office
address of Fairfax is 95 Wellington Street West,
Suite 800, Toronto, Ontario, Canada, M5J 2N7;
6. CRC (Bermuda) Reinsurance Limited ("CRC (Bermuda)"),
a corporation incorporated under the laws of Bermuda,
is a wholly-owned subsidiary of Fairfax. The
principal business of CRC (Bermuda) is reinsurance.
The principal business address and principal office
address of CRC (Bermuda) is c/o Westbrook Limited,
Richmond House, 12 Par-la-Ville Road, P.O. Box HM
1022 Hamilton, HM DX Bermuda.
7. FFHL Group Ltd., a corporation incorporated under the
laws of Canada, is a wholly-owned subsidiary of
Fairfax. The principal business of FFHL Group Ltd. is
as a holding company. The principal business address
and principal office address of FFHL Group Ltd. is 95
Wellington Street West, Suite 800, Toronto, Ontario,
Canada, M5J 2N7;
8. Fairfax Inc., a corporation incorporated under the
laws of Wyoming, is a wholly-owned subsidiary of
Fairfax. The principal business of Fairfax Inc. is as
a holding company. The principal business address and
principal office address of Fairfax Inc. is 300 First
Stamford Place, Stamford, CT 06902;
9. Crum & Forster Holdings Corp., a corporation
incorporated under the laws of Delaware, is a
wholly-owned subsidiary of Fairfax. The principal
business of Crum & Forster Holdings Corp. is as a
holding company. The principal business address and
principal office address of Crum & Forster Holdings
Corp. is 305 Madison Avenue, P.O. Box 1973,
Morristown, New Jersey 07962;
14
10. Crum & Forster Holding Inc., a corporation
incorporated under the laws of Delaware, is a
wholly-owned subsidiary of Fairfax. The principal
business of Crum & Forster Holding Inc. is as a
holding company. The principal business address and
principal office address of Crum & Forster Holding
Inc. is 305 Madison Avenue, P.O. Box 1973,
Morristown, New Jersey 07962; and
11. United States Fire Insurance Company ("US Fire"), a
corporation incorporated under the laws of Delaware,
is a wholly-owned subsidiary of Fairfax. The
principal business of US Fire is insurance. The
principal business address and principal office
address of US Fire is 305 Madison Avenue, P.O. Box
1973, Morristown, New Jersey 07962.
Neither the filing of this Schedule 13D nor the information
contained herein shall be deemed to constitute an affirmation by V. Prem Watsa,
1109519, Sixty Two, 810679, Fairfax, CRC (Bermuda), FFHL Group Ltd., Fairfax
Inc., Crum & Forster Holdings Corp., Crum & Forster Holding Inc. or US Fire that
such person is the beneficial owner of the shares of Common Stock of Zenith
referred to herein for purposes of Section 13(d) or 13(g) of the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), or for any other purpose,
and such beneficial ownership is expressly disclaimed.
The name, present principal occupation or employment and name,
principal business and address of any corporation or other organization in which
such employment is conducted and the citizenship of each director and executive
officer of each of the Reporting Persons (other than V. Prem Watsa, an
individual) are set forth in Annex A, B, C, D, E, F, G, H, I or J, as the case
may be, and such Annexes are incorporated herein by reference.
Pursuant to Rule 13d-1(k) under the Exchange Act, the
Reporting Persons have agreed to file jointly one statement with respect to
their ownership of the shares of Common Stock of Zenith.
During the last five years, none of the Reporting Persons,
and, to the best of each such Reporting Person's knowledge, none of the
executive officers or directors of such Reporting Person have been (a) convicted
in a criminal proceeding (excluding traffic violations or similar misdemeanors)
or (b) 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."
ITEM 4. PURPOSE OF TRANSACTION
Item 4 of the Schedule 13D is hereby amended in its entirety
to read as follows:
15
"(a) - (j) The Reporting Persons have no plans or proposals
regarding Zenith Common Stock."
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
Item 5 of the Schedule 13D is hereby amended in its entirety
to read as follows:
"(a) Based on the most recent information available, the
aggregate number and percentage of the shares of Common Stock of Zenith (the
securities identified pursuant to Item 1 of this Schedule 13D) that are
beneficially owned by each of the Reporting Persons are set forth in boxes 11
and 13 of the second part of the cover page to this Schedule 13D for each of the
Reporting Persons, and such information is incorporated herein by reference.
(b) The numbers of shares of Common Stock of Zenith as to
which each of the Reporting Persons has sole voting power, shared voting power,
sole dispositive power and shared dispositive power are set forth in boxes 7, 8,
9 and 10, respectively, on the second part of the cover page to this Schedule
13D for each of the Reporting Persons, and such information is incorporated
herein by reference.
(c) Except as described herein, none of the Reporting Persons,
nor, to the best knowledge of the Reporting Persons, any person listed in Annex
A, B, C, D, E, F, G, H, I or J, beneficially owns, or during the last 60 days
has acquired or disposed of, any shares of Common Stock of Zenith.
(d) Not applicable.
(e) On February 7, 2006, the Reporting Persons ceased to be
beneficial owners of more than five percent of the Common Stock of Zenith."
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Item 7 of the Schedule 13D is hereby amended by the addition
of the following exhibits to the end thereof:
"6.0 Joint Filing Agreement dated as of February 8, 2006
among V. Prem Watsa, 1109519 Ontario Limited, The
Sixty Two Investment Company Limited, 810679 Ontario
Limited, Fairfax Financial Holdings Limited., CRC
(Bermuda) Reinsurance Limited, FFHL Group Ltd.,
Fairfax Inc., Crum & Forster Holdings Corp., Crum &
Forster Holding Inc. and United States Fire Insurance
Company."
16
SIGNATURE
After reasonable inquiry and to the best of the undersigned's
knowledge and belief, the undersigned certifies that the information set forth
in this Schedule 13D with respect to the undersigned is true, complete and
correct.
IN WITNESS WHEREOF, the undersigned has executed this Schedule
13D as of the 8th day of February, 2006.
V. Prem Watsa
/s/ V. Prem Watsa
-----------------------------------------
1109519 Ontario Limited
By: /s/ V. Prem Watsa
-------------------------------------
Name: V. Prem Watsa
Title: President
The Sixty Two Investment Company Limited
By: /s/ V. Prem Watsa
-------------------------------------
Name: V. Prem Watsa
Title: President
17
810679 Ontario Limited
By: /s/ V. Prem Watsa
-------------------------------------
Name: V. Prem Watsa
Title: President
Fairfax Financial Holdings Limited
By: /s/ Paul Rivett
-------------------------------------
Name: Paul Rivett
Title: Vice President
CRC (Bermuda) Reinsurance Limited
By: /s/ Ronald Schokking
-------------------------------------
Name: Ronald Schokking
Title: Director
FFHL Group Ltd.
By: /s/ V. Prem Watsa
-------------------------------------
Name: V. Prem Watsa
Title: Vice President and Director
18
Fairfax Inc.
By: /s/ John Cassil
-------------------------------------
Name: John Cassil
Title: Vice President
Crum & Forster Holdings Corp.
By: /s/ Carol Ann Soos
-------------------------------------
Name: Carol Ann Soos
Title: Secretary
Crum & Forster Holding Inc.
By: /s/ Valerie J. Gasparik
-------------------------------------
Name: Valerie J. Gasparik
Title: Secretary
United States Fire Insurance Company
By: /s/ Carol Ann Soos
-------------------------------------
Name: Carol Ann Soos
Title: Vice President
19
ANNEX INDEX
ANNEX DESCRIPTION
----- -----------
A Directors and Executive Officers of 1109519 Ontario
Limited
B Directors and Executive Officers of The Sixty Two
Investment Company Limited
C Directors and Executive Officers of 810679 Ontario
Limited
D Directors and Executive Officers of Fairfax Financial
Holdings Limited
E Directors and Executive Officers of CRC (Bermuda)
Reinsurance Limited
F Directors and Executive Officers of FFHL Group Ltd.
G Directors and Executive Officers of Fairfax Inc.
H Directors and Executive Officers of Crum & Forster
Holdings Corp.
I Directors and Executive Officers of Crum & Forster
Holding Inc.
J Directors and Executive Officers of United States Fire
Insurance Company
20
ANNEX A
DIRECTORS AND EXECUTIVE OFFICERS OF
1109519 ONTARIO LIMITED
The following table sets forth certain information with
respect to the directors and executive officers of 1109519 Ontario Limited.
PRESENT PRINCIPAL OCCUPATION OR EMPLOYMENT
AND THE NAME, PRINCIPAL BUSINESS AND ADDRESS
OF ANY CORPORATION OR OTHER ORGANIZATION IN
NAME WHICH SUCH EMPLOYMENT IS CONDUCTED CITIZENSHIP
---- -------------------------------------------- -----------
V. Prem Watsa Chairman and Chief Executive Officer, Canadian
(President and Director) Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
Eric P. Salsberg Vice President, Corporate Affairs, Fairfax Canadian
(Assistant Secretary and Director) Financial Holdings Limited
21
ANNEX B
DIRECTORS AND EXECUTIVE OFFICERS OF
THE SIXTY TWO INVESTMENT COMPANY LIMITED
The following table sets forth certain information with
respect to the directors and executive officers of The Sixty Two Investment
Company Limited.
PRESENT PRINCIPAL OCCUPATION OR EMPLOYMENT
AND THE NAME, PRINCIPAL BUSINESS AND ADDRESS
OF ANY CORPORATION OR OTHER ORGANIZATION IN
NAME WHICH SUCH EMPLOYMENT IS CONDUCTED CITIZENSHIP
---- ---------------------------------- -----------
V. Prem Watsa Chairman and Chief Executive Officer, Canadian
(President and Director) Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
Eric P. Salsberg Vice President, Corporate Affairs, Fairfax Canadian
(Assistant Secretary and Director) Financial Holdings Limited
22
ANNEX C
DIRECTORS AND EXECUTIVE OFFICERS OF
810679 ONTARIO LIMITED
The following table sets forth certain information with
respect to the directors and executive officers of 810679 Ontario Limited.
PRESENT PRINCIPAL OCCUPATION OR EMPLOYMENT
AND THE NAME, PRINCIPAL BUSINESS AND ADDRESS
OF ANY CORPORATION OR OTHER ORGANIZATION IN
NAME WHICH SUCH EMPLOYMENT IS CONDUCTED CITIZENSHIP
---- -------------------------------------------- -----------
V. Prem Watsa Chairman and Chief Executive Officer, Canadian
(President and Director) Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
Eric P. Salsberg Vice President, Corporate Affairs, Fairfax Canadian
(Assistant Secretary and Director) Financial Holdings Limited
23
ANNEX D
DIRECTORS AND EXECUTIVE OFFICERS OF
FAIRFAX FINANCIAL HOLDINGS LIMITED
The following table sets forth certain information with
respect to the directors and executive officers of Fairfax Financial Holdings
Limited.
PRESENT PRINCIPAL OCCUPATION OR EMPLOYMENT
AND THE NAME, PRINCIPAL BUSINESS AND ADDRESS
OF ANY CORPORATION OR OTHER ORGANIZATION IN
NAME WHICH SUCH EMPLOYMENT IS CONDUCTED CITIZENSHIP
---- -------------------------------------------- -----------
V. Prem Watsa Chairman and Chief Executive Officer, Fairfax Canadian
(Chairman and Chief Executive Officer) Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
Frank B. Bennett President, Artesian Management Inc. United States
(Director) 301 Carlson Parkway,
Suite 120
Minnetonka, MN 55305
Robbert Hartog President, Robhar Investments Ltd. Canadian
(Director) R.R. #1
Perkinsfield, Ontario L0L 2J0
Anthony Griffiths Independent Business Consultant Canadian
(Director) Toronto, Ontario, Canada
Paul Murray President, Canadian
(Director) Pine Smoke Investments
Toronto, Ontario, Canada
Brandon W. Sweitzer Senior Advisor to the President of the United States
(Director) Chamber of Commerce of the United States
1615 H Street, NW
Washington, DC 20062
24
PRESENT PRINCIPAL OCCUPATION OR EMPLOYMENT
AND THE NAME, PRINCIPAL BUSINESS AND ADDRESS
OF ANY CORPORATION OR OTHER ORGANIZATION IN
NAME WHICH SUCH EMPLOYMENT IS CONDUCTED CITIZENSHIP
---- -------------------------------------------- -----------
Greg Taylor Vice President and Chief Canadian
(Vice President and Chief Financial Officer) Financial Officer, Fairfax
Financial Holdings Limited
Eric P. Salsberg Vice President, Corporate Affairs, Canadian
(Vice President, Corporate Affairs) Fairfax Financial Holdings Limited
Paul Rivett Vice President, Canadian
(Vice President) Fairfax Financial Holdings Limited
25
ANNEX E
DIRECTORS AND EXECUTIVE OFFICERS OF
CRC (BERMUDA) REINSURANCE LIMITED
The following table sets forth certain information with
respect to the directors and executive officers of CRC (Bermuda) Reinsurance
Limited.
PRESENT PRINCIPAL OCCUPATION OR EMPLOYMENT AND
THE NAME, PRINCIPAL BUSINESS AND ADDRESS OF
ANY CORPORATION OR OTHER ORGANIZATION IN WHICH
NAME SUCH EMPLOYMENT IS CONDUCTED CITIZENSHIP
---- ---------------------------------------------- -----------
Sam Chan Vice President Canadian
(Director and President) Fairfax Financial Holdings Limited
95 Wellington Street West, Ste. 800
Toronto, ON
Charles Collis Attorney British/Bermudian
(Director) Conyers Dill & Pearman
Clarendon House, Church Street
Hamilton, Bermuda
Christopher Garrod Attorney British/Bermudian
(Director) Conyers Dill & Pearman
Clarendon House, Church Street
Hamilton, Bermuda
Ronald Schokking Vice President, Finance Canadian
(Director) Fairfax Financial Holdings Limited
Bradley P. Martin Vice President Canadian
(Vice President) Fairfax Financial Holdings Limited
Eric P. Salsberg Vice President, Corporate Affairs Canadian
(Vice President) Fairfax Financial Holdings Limited
26
ANNEX F
DIRECTORS AND EXECUTIVE OFFICERS OF
FFHL GROUP LTD.
The following table sets forth certain information with
respect to the directors and executive officers of FFHL Group Ltd.
PRESENT PRINCIPAL OCCUPATION OR EMPLOYMENT
AND THE NAME, PRINCIPAL BUSINESS AND ADDRESS
OF ANY CORPORATION OR OTHER ORGANIZATION IN
NAME WHICH SUCH EMPLOYMENT IS CONDUCTED CITIZENSHIP
---- -------------------------------------------- -----------
James F. Dowd President and Chief Executive Officer, United States
(Chairman) Fairfax Inc.
305 Madison Avenue
Morristown, NJ 07962
Eric P. Salsberg Vice President, Corporate Affairs, Canadian
(Vice President and Director) Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
Bradley P. Martin Vice President, Canadian
(Vice President and Secretary) Fairfax Financial Holdings Limited
V. Prem Watsa Chairman and Chief Executive Officer, Canadian
(Vice President and Director) Fairfax Financial Holdings Limited
Ronald Schokking Vice President, Finance Canadian
(Vice President) Fairfax Financial Holdings Limited
M. Jane Williamson Vice President, Canadian
(Director) Fairfax Financial Holdings Limited
27
ANNEX G
DIRECTORS AND EXECUTIVE OFFICERS OF
FAIRFAX INC.
The following table sets forth certain information with
respect to the directors and executive officers of Fairfax Inc.
PRESENT PRINCIPAL OCCUPATION OR EMPLOYMENT
AND THE NAME, PRINCIPAL BUSINESS AND ADDRESS
OF ANY CORPORATION OR OTHER ORGANIZATION IN
NAME WHICH SUCH EMPLOYMENT IS CONDUCTED CITIZENSHIP
---- -------------------------------------------- -----------
James F. Dowd Chairman, President and Chief Executive United States
(Chairman, President, CEO and Director) Officer, Fairfax Inc.
305 Madison Avenue
Morristown, NJ 07962
Eric P. Salsberg Vice President, Corporate Affairs, Canadian
(Vice President and Director) Fairfax Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
John Cassil Vice President and Treasurer, United States
(Vice President, Treasurer and Director) Fairfax Inc.
Bradley P. Martin Vice President, Canadian
(Corporate Secretary) Fairfax Financial Holdings Limited
28
ANNEX H
DIRECTORS AND EXECUTIVE OFFICERS OF
CRUM & FORSTER HOLDINGS CORP.
The following table sets forth certain information with
respect to the directors and executive officers of Crum & Forster Holdings Corp.
PRESENT PRINCIPAL OCCUPATION OR EMPLOYMENT
AND THE NAME, PRINCIPAL BUSINESS AND ADDRESS
OF ANY CORPORATION OR OTHER ORGANIZATION IN
NAME WHICH SUCH EMPLOYMENT IS CONDUCTED CITIZENSHIP
---- -------------------------------------------- -----------
V. Prem Watsa Chairman and Chief Executive Officer, Fairfax Canadian
(Chairman) Financial Holdings Limited
95 Wellington Street West
Suite 800
Toronto, Ontario M5J 2N7
Nikolas Antonopoulos Chief Executive Officer and President, United States
(Chief Executive Officer and President) Crum & Forster Holdings Corp. and various
other insurance subsidiaries
305 Madison Avenue, P.O. Box 1973
Morristown, NJ 07962
Mary Jane Robertson Executive Vice President, Chief Financial United States
(Executive Vice President, Chief Financial Officer and Treasurer,
Officer and Treasurer) Crum & Forster Holdings Corp. and various
other insurance subsidiaries
Frank B. Bennett President, Artesian Management Inc. United States
(Director) 301 Carlson Parkway,
Suite 120
Minnetonka, MN 55305
Robbert Hartog President, Robhar Investments Ltd. Canadian
(Director) R.R. #1
Perkinsfield, Ontario L0L 2J0
Anthony Griffiths Independent Business Consultant Canadian
(Director) Toronto, Ontario, Canada
29
ANNEX I
DIRECTORS AND EXECUTIVE OFFICERS OF
CRUM & FORSTER HOLDING INC.
The following table sets forth certain information with
respect to the directors and executive officers of Crum & Forster Holding Inc.
PRESENT PRINCIPAL OCCUPATION OR EMPLOYMENT
AND THE NAME, PRINCIPAL BUSINESS AND ADDRESS
OF ANY CORPORATION OR OTHER ORGANIZATION IN
NAME WHICH SUCH EMPLOYMENT IS CONDUCTED CITIZENSHIP
---- -------------------------------------------- -----------
Nikolas Antonopoulos Chief Executive Officer and President, United States
(Chairman, Chief Executive Officer and Director) Crum & Forster Holdings Corp. and various
other insurance subsidiaries
305 Madison Avenue, P.O. Box 1973
Morristown, NJ 07962
Joseph F. Braunstein, Jr. President, United States
(President and Director) Crum & Forster Holding Inc. and various other
insurance subsidiaries
305 Madison Avenue, P.O. Box 1973
Morristown, NJ 07962
Mary Jane Robertson Executive Vice President, Chief Financial United States
(Executive Vice President, Treasurer and Officer and Treasurer,
Director) Crum & Forster Holdings Corp. and various
other insurance subsidiaries
Douglas M. Libby President, United States
(Senior Vice President and Director) Seneca Insurance Company
160 Water Street
New York, NY 10038
30
ANNEX J
DIRECTORS AND EXECUTIVE OFFICERS OF
UNITED STATES FIRE INSURANCE COMPANY
The following table sets forth certain information with
respect to the directors and executive officers of United States Fire Insurance
Company.
PRESENT PRINCIPAL OCCUPATION OR EMPLOYMENT
AND THE NAME, PRINCIPAL BUSINESS AND ADDRESS
OF ANY CORPORATION OR OTHER ORGANIZATION IN
NAME WHICH SUCH EMPLOYMENT IS CONDUCTED CITIZENSHIP
---- -------------------------------------------- -----------
Nikolas Antonopoulos Chief Executive Officer and President, United States
(Chief Executive Officer, Chairman and Director) Crum & Forster Holdings Corp. and various
other insurance subsidiaries
305 Madison Avenue, P.O. Box 1973
Morristown, NJ 07962
Joseph F. Braunstein, Jr. President, United States
(President and Director) Crum & Forster Holding Inc. and various other
insurance subsidiaries
305 Madison Avenue
Morristown, NJ 07962
Mary Jane Robertson Executive Vice President, Chief Financial United States
(Executive Vice President, Chief Financial Officer and Treasurer,
Officer, Treasurer and Director) Crum & Forster Holdings Corp. and various
other insurance subsidiaries
Dennis J. Hammer Senior Vice President and Controller, United States
(Senior Vice President and Controller) United States Fire Insurance Company,
305 Madison Avenue, P.O. Box 1973
Morristown, NJ 07962
31
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
----------- -----------
6.0 Joint Filing Agreement dated as of February 8, 2006 among
V. Prem Watsa, 1109519 Ontario Limited, The Sixty Two
Investment Company Limited, 810679 Ontario Limited,
Fairfax Financial Holdings Limited., CRC (Bermuda)
Reinsurance Limited, FFHL Group Ltd., Fairfax Inc.,
Crum & Forster Holdings Corp., Crum & Forster Holding
Inc. and United States Fire Insurance Company.
32