UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934*
(Amendment No. ___)
Tarrant Apparel Group
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
876289109
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(CUSIP Number)
December 4, 2003
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule [ ] Rule 13d-1(b)
pursuant to which this Schedule is filed: [X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
* 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 the
disclosures provided in a prior cover page.
The information required in 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).
Person Authorized to Receive Notices and Communications:
Taylor H. Wilson, Esq.
Haynes and Boone, LLP
901 Main Street, Suite 3100
Dallas, Texas 75202
(214) 651-5000
SCHEDULE 13G
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CUSIP No. 876289109 Page 2 of 11 Pages
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Atlas Capital (Q.P.), L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
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5 SOLE VOTING POWER
337,500
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6 SHARED VOTING POWER
0
NUMBER OF
SHARES --------------------------------------------------
BENEFICIALLY 7 SOLE DISPOSITIVE POWER
OWNED BY
EACH 337,500
REPORTING
PERSON --------------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
0
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
337,500
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) [ ]
EXCLUDES CERTAIN SHARES
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.2%
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12 TYPE OF REPORTING PERSON
PN
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SCHEDULE 13G
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CUSIP No. 876289109 Page 3 of 11 Pages
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Atlas Capital Master Fund, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
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5 SOLE VOTING POWER
1,162,500
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6 SHARED VOTING POWER
0
NUMBER OF
SHARES --------------------------------------------------
BENEFICIALLY 7 SOLE DISPOSITIVE POWER
OWNED BY
EACH 1,162,500
REPORTING
PERSON --------------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
0
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,162,500
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) [ ]
EXCLUDES CERTAIN SHARES
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.2%
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12 TYPE OF REPORTING PERSON
PN
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SCHEDULE 13G
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CUSIP No. 876289109 Page 4 of 11 Pages
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Atlas Capital Management, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
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5 SOLE VOTING POWER
1,500,000
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6 SHARED VOTING POWER
0
NUMBER OF
SHARES --------------------------------------------------
BENEFICIALLY 7 SOLE DISPOSITIVE POWER
OWNED BY
EACH 1,500,000
REPORTING
PERSON --------------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
0
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,500,000
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) [ ]
EXCLUDES CERTAIN SHARES
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.4%
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12 TYPE OF REPORTING PERSON
HC/PN
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SCHEDULE 13G
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CUSIP No. 876289109 Page 5 of 11 Pages
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
RHA, Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
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5 SOLE VOTING POWER
1,500,000
--------------------------------------------------
6 SHARED VOTING POWER
0
NUMBER OF
SHARES --------------------------------------------------
BENEFICIALLY 7 SOLE DISPOSITIVE POWER
OWNED BY
EACH 1,500,000
REPORTING
PERSON --------------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
0
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,500,000
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) [ ]
EXCLUDES CERTAIN SHARES
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.4%
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12 TYPE OF REPORTING PERSON
HC/CO
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SCHEDULE 13G
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CUSIP No. 876289109 Page 6 of 11 Pages
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)
Robert H. Alpert
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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5 SOLE VOTING POWER
1,500,000
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6 SHARED VOTING POWER
0
NUMBER OF
SHARES --------------------------------------------------
BENEFICIALLY 7 SOLE DISPOSITIVE POWER
OWNED BY
EACH 1,500,000
REPORTING
PERSON --------------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
0
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,500,000
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) [ ]
EXCLUDES CERTAIN SHARES
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.4%
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12 TYPE OF REPORTING PERSON
HC/IN
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CUSIP No. 876289109 Page 7 of 11 Pages
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Item 1(a) Name of Issuer:
Tarrant Apparel Group
Item 1(b) Address of Issuer's Principal Executive Offices:
3151 East Washington Boulevard
Los Angeles, California 90023
Item 2(a) Names of Persons Filing:
Atlas Capital (Q.P.), L.P., a Texas limited partnership
Atlas Capital Master Fund, L.P., a Cayman Islands exempted
limited partnership
Atlas Capital Management, L.P., a Texas limited partnership
RHA, Inc., a Texas corporation
Robert H. Alpert, a citizen of the United States of America
Item 2(b) Address of Principal Business Offices:
100 Crescent Court, Suite 880
Dallas, Texas 75201
Item 2(c) Citizenship:
See Item 2(a) above.
Item 2(d) Title of Class of Securities:
Common Stock, without par value
Item 2(e) CUSIP No:
876289109
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CUSIP No. 876289109 Page 8 of 11 Pages
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Item 3 Status of Persons Filing:
(a) [ ] Broker or dealer registered under section 15 of
the Act (15 U.S.C. 78o);
(b) [ ] Bank as defined in section 3(a)(6) of the Act
(15 U.S.C. 78c);
(c) [ ] Insurance company as defined in section 3(a)(19)
of the Act (15 U.S.C. 78c);
(d) [ ] Investment company registered under section 8 of
the Investment Company Act of 1940 (15 U.S.C.
80a-8);
(e) [ ] An investment adviser in accordance with Section
240.13d-1(b)(1)(ii)(E);
(f) [ ] An employee benefit plan or endowment fund in
accordance with Section 240.13d-1(b)(1)(ii)(F);
(g) [ ] A parent holding company or control person in
accordance with Section 240.13d-1(b)(1)(ii)(G);
(h) [ ] A savings association as defined in Section 3(b)
of the Federal Deposit Insurance Act (12 U.S.C.
1813);
(i) [ ] A church plan that is excluded from the definition
of an investment company under section 3(c)(14) of
the Investment Company Act of 1940 (15 U.S.C.
80a-3);
(j) [ ] Group, in accordance with Section
240.13d-1(b)(1)(ii)(J).
Item 4 Ownership:
(a) Atlas Capital (Q.P.), L.P. ("Atlas Capital") is the
record holder of 337,500 shares of Common Stock and
Atlas Capital Master Fund, L.P. ("Atlas Master Fund")
is the record holder of 1,162,500 shares of Common
Stock. Atlas Capital Management, L.P. ("Atlas Capital
Management") is the investment manager for each of
Atlas Capital and Atlas Master Fund, and may therefore
be deemed to be the indirect beneficial owner of the
shares of Common Stock held of record by Atlas Capital
and Atlas Master Fund. RHA, Inc. is the general
partner of Atlas Capital Management, and may therefore
be deemed to be the indirect beneficial owner of the
shares of Common Stock that may be indirectly
beneficially owned by Atlas Capital Management. Robert
H. Alpert is the President of RHA, Inc., and may
therefore be deemed to be the indirect beneficial
owner of the shares of Common Stock that may be
indirectly beneficially owned by RHA, Inc.
(b) Percent of Class:
Atlas Capital (Q.P.), L.P. - 1.2%
Atlas Capital Master Fund, L.P. - 4.2%
Atlas Capital Management, L.P. - 5.4%
RHA, Inc. - 5.4%
Robert H. Alpert - 5.4%
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CUSIP No. 876289109 Page 9 of 11 Pages
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(c) Number of shares as to which each person has:
(i) sole power to vote or to direct the vote:
Atlas Capital (Q.P.), L.P. - 337,500
Atlas Capital Master Fund, L.P. - 1,162,500
Atlas Capital Management, L.P. - 1,500,000
RHA, Inc. - 1,500,000
Robert H. Alpert - 1,500,000
(ii) shared power to vote or to direct the vote:
Atlas Capital (Q.P.), L.P. - 0
Atlas Capital Master Fund, L.P. - 0
Atlas Capital Management, L.P. - 0
RHA, Inc. - 0
Robert H. Alpert - 0
(iii)sole power to dispose or to direct the
disposition of:
Atlas Capital (Q.P.), L.P. - 337,500
Atlas Capital Master Fund, L.P. - 1,162,500
Atlas Capital Management, L.P. - 1,500,000
RHA, Inc. - 1,500,000
Robert H. Alpert - 1,500,000
(iv) shared power to dispose or to direct the
disposition of:
Atlas Capital (Q.P.), L.P. - 0
Atlas Capital Master Fund, L.P. - 0
Atlas Capital Management, L.P. - 0
RHA, Inc. - 0
Robert H. Alpert - 0
Item 5 Ownership of 5% or Less of a Class:
Not applicable.
Item 6 Ownership of More than 5% on Behalf of Another Person:
Not applicable.
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CUSIP No. 876289109 Page 10 of 11 Pages
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Item 7 Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on By the Parent Holding
Company or Control Person:
Not applicable.
Item 8 Identification and Classification of Members of the Group:
Not applicable.
Item 9 Notice of Dissolution of Group:
Not applicable.
Item 10 Certification:
By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were not acquired
and are not held for the purpose of or with the effect of
changing or influencing the control of the issuer of the
securities and were not acquired and are not held in
connection with or as a participant in any transaction having
that purpose or effect.
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CUSIP No. 876289109 Page 11 of 11 Pages
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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.
Date: December 10, 2003
ATLAS CAPITAL (Q.P.), L.P.
By: Atlas Capital Management,
L.P., its general partner
By: RHA, Inc., its general
partner
By: /s/ Robert H. Alpert
-----------------------------
Robert H. Alpert
President
ATLAS CAPITAL MASTER FUND, L.P.
By: Atlas Capital Management,
L.P., its general partner
By: RHA, Inc., its general
partner
By: /s/ Robert H. Alpert
-----------------------------
Robert H. Alpert
President
ATLAS CAPITAL MANAGEMENT, L.P.
By: RHA, Inc., its general
partner
By: /s/ Robert H. Alpert
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Robert H. Alpert
President
RHA, INC.
By: /s/ Robert H. Alpert
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Robert H. Alpert
President
/s/ Robert H. Alpert
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ROBERT H. ALPERT
EXHIBITS
Exhibit
Number Description
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Exhibit 1 Joint Filing Agreement, dated December 10, 2003, entered into
by and among Atlas Capital (Q.P.), L.P., Atlas Capital Master
Fund, L.P., Atlas Capital Management, L.P., RHA, Inc. and
Robert H. Alpert.