The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

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COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ALGOMA STL GROUP INC COM 015658107 7,289,450 1,765,000 SH SOLE 1,765,000 0 0
BRANDYWINE RLTY TR SH BEN INT NEW 105368203 10,135,400 3,740,000 SH SOLE 3,740,000 0 0
CLAROS MTG TR INC COMMON STOCK 18270D106 3,332,000 1,400,000 SH SOLE 1,400,000 0 0
GOODYEAR TIRE & RUBR CO COM 382550101 13,525,200 2,040,000 SH SOLE 2,040,000 0 0
GRAN TIERRA ENERGY INC COM 38500T200 36,287,417 4,045,420 SH SOLE 4,045,420 0 0
GRAPHIC PACKAGING HLDG CO COM 388689101 3,578,400 360,000 SH SOLE 360,000 0 0
LUMEN TECHNOLOGIES INC COM 550241103 34,451,150 4,957,000 SH SOLE 4,957,000 0 0
LUMEN TECHNOLOGIES INC COM 550241103 26,479,500 3,810,000 SH Call SOLE 0 0 0
TELESAT CORP CL A & CL B SHS 879512309 13,804,272 382,650 SH SOLE 382,650 0 0
VERMILION ENERGY INC COM 923725105 43,425,778 3,157,600 SH SOLE 3,157,600 0 0