UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Penn Treaty American Corporation
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(Name of Issuer)
Common Stock, Par Value $0.10 Per Share
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(Title of Class of Securities)
707874400
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(CUSIP Number)
James M. Chadwick
Chadwick Capital Management, LLC
4510 Executive Drive
Suite 200
San Diego, California 92121
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
October 29, 2007
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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 Rule 13d-1(e), (f) or (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 13d-7(b) for other
parties to whom copies are being 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).
CUSIP No. 707874400
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NAME OF REPORTING PERSON
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Monarch Activist Partners LP
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[X]
2 (b)[ ]
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SEC USE ONLY
3
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SOURCE OF FUNDS (See Instructions)
4 N/A
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED [ ]
5 PURSUANT TO ITEMS 2(d) or 2(e)
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CITIZENSHIP OR PLACE OF ORGANIZATION
6 Delaware
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SOLE VOTING POWER
7 N/A*
NUMBER OF ===========================================================
SHARES SHARED VOTING POWER
BENEFICIALLY 8 N/A*
OWNED BY
EACH ===========================================================
REPORTING SOLE DISPOSITIVE POWER
PERSON 9 N/A*
WITH
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SHARED DISPOSITIVE POWER
10 N/A*
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11 N/A*
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN [ ]
12 SHARES
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13 <5%
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TYPE OF REPORTING PERSON
14 OO
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*Reporting Person beneficially owns less than 5% of the outstanding common
stock of Issuer.
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CUSIP No. 221492101
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NAME OF REPORTING PERSON
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Chadwick Capital Management LLC
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)[X]
2 (b)[ ]
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SEC USE ONLY
3
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SOURCE OF FUNDS (See Instructions)
4 N/A
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED [ ]
5 PURSUANT TO ITEMS 2(d) or 2(e)
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CITIZENSHIP OR PLACE OF ORGANIZATION
6 Delaware
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SOLE VOTING POWER
7 N/A*
NUMBER OF ===========================================================
SHARES SHARED VOTING POWER
BENEFICIALLY 8 N/A*
OWNED BY
EACH ===========================================================
REPORTING SOLE DISPOSITIVE POWER
PERSON 9 N/A*
WITH
===========================================================
SHARED DISPOSITIVE POWER
10 N/A*
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11 N/A*
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN [ ]
12 SHARES
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13 <5%
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TYPE OF REPORTING PERSON
14 OO
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*Reporting Person beneficially owns less than 5% of the outstanding common
stock of Issuer.
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SCHEDULE 13D
ITEM 1. SECURITY AND ISSUER:
This Schedule 13D relates to the common shares of Penn Treaty
American Corporation (the "Issuer"). The principal executive offices of 3440
Lehigh Street, Allentown, Pennsylvania 18103.
ITEM 2. IDENTITY AND BACKGROUND:
(a) This statement on Schedule 13D is filed by Chadwick Capital
Management LLC ("CCM") and Monarch Activist Partners LP ("Monarch"). The
managers of CCM are James M. Chadwick and Sohail Malad. CCM is the General
Partner of Monarch and has sole voting and dispositive authority over
Monarch's accounts.
(b) The business address for CCM, Monarch and Mr. Chadwick is 4510
Executive Drive, Suite 200, San Diego, California 92121.
(c) CCM's principal business is to provide asset management services
to private investment funds. Mr. Chadwick manages CCM's business.
(d)-(e) During the last five years, none of CCM, Mr. Chadwick, or
Monarch has been convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors) or 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 judgement, 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) CCM is a limited liability company organized under the laws of
the State of Delaware. Mr. Chadwick is a citizen of the United States of
America. Monarch is a limited partnership organized under the laws of the
State of Delaware.
ITEM 4. PURPOSE OF TRANSACTION
On October 29, 2007 Monarch submitted a letter to the Board of
Directors of the Issuer. Monarch's October 29, 2007 letter is appended hereto
as Exhibit 1.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS
WITH RESPECT TO SECURITIES OF THE ISSUER:
CCM is the General Partner of Monarch under Monarch's Limited
Partnership Agreement. This agreement provides, among other things, the
authority to buy, invest in, hold for investment, own, assign, and transfer,
sell and otherwise deal in securities on behalf of Monarch.
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ITEM 7. MATERIAL TO BE FILED AS EXHIBITS:
Exhibit Number Description
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1 Letter dated October 29, 2007, from James Chadwick,
Managing Partner of Monarch Activist Partners LP to
Eugene Woznicki, Chairman of the Penn American
Treaty Corporation Board of Directors.
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