sec document
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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SCHEDULE 13G
(RULE 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(b)
(AMENDMENT NO. 1)(1)
Championship Auto Racing Teams, Inc.
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(Name of Issuer)
Common Stock, par value $0.01 per share
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(Title of Class of Securities)
158711101
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(CUSIP Number)
December 31, 2005
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(Date of Event Which Requires Filing of this Statement)
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Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
/ / Rule 13d-1(b)
/x/ Rule 13d-1(c)
/ / Rule 13d-1(d)
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(1) 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 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).
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CUSIP No. 158711101 13G Page 2 of 10 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Couchman Partners, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
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NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY 0 shares
OWNED BY ----------------------------------------------------------------
EACH 6 SHARED VOTING POWER
REPORTING
PERSON WITH 0 shares
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7 SOLE DISPOSITIVE POWER
0 shares
-----------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
0 shares
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
0 shares
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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
0%
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12 TYPE OF REPORTING PERSON*
PN
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 158711101 13G Page 3 of 10 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Couchman Capital Services LLC
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY 0 shares
OWNED BY ----------------------------------------------------------------
EACH 6 SHARED VOTING POWER
REPORTING
PERSON WITH 0 shares
-----------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
0 shares
-----------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
0 shares
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
0 shares
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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
0%
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12 TYPE OF REPORTING PERSON*
OO
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 158711101 13G Page 4 of 10 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Jonathan Couchman
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
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NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY 0 shares
OWNED BY ----------------------------------------------------------------
EACH 6 SHARED VOTING POWER
REPORTING
PERSON WITH 0 shares
-----------------------------------------------------------------
7 SOLE DISPOSITIVE POWER
0 shares
-----------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
0 shares
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
0 shares
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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
0%
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12 TYPE OF REPORTING PERSON*
IN
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 158711101 13G Page 5 of 10 Pages
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Item 1(a). Name of Issuer:
Championship Auto Racing Teams, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices:
5350 Lakeview Parkway Drive South
Indianapolis, IN 46268
Item 2(a). Name of Person Filing:
This statement is jointly filed by Couchman Partners, L.P.
("CP"), Couchman Capital Services LLC ("CCS"), and Jonathan
Couchman (together with CP and CCS, the "Reporting Persons").
Because Jonathan Couchman is the sole member of the Management
Board of CCS, which in turn is the general partner of CP, the
Reporting Persons may be deemed, pursuant to Rule 13d-3 of the
Securities Exchange Act of 1934, as amended (the "Act"), to be
the beneficial owners of all shares of Common Stock of the
Issuer held by CP. Couchman Capital LLC is no longer the
general partner of CP and is therefore no longer a Reporting
Person. The Reporting Persons are filing this joint statement,
as they may be considered a "group" under Section 13(d)(3) of
the Act. However, neither the fact of this filing nor anything
contained herein shall be deemed to be an admission by the
Reporting Persons that such a group exists.
Item 2(b). Address of Principal Business Office or, if None, Residence:
The principal business address of CP is c/o Hedge Fund
Services (BVI) Limited, James Frett Building, PO Box 761,
Wickhams Cay 1, Road Town, Tortola, British Virgin Islands.
The principal business address of CCS and Mr. Couchman is 909
Third Avenue, 29th floor, NY NY 10022
Item 2(c). Citizenship:
CP is a British Virgin Islands limited partnership. CCS is a
Delaware limited liability company. Jonathan Couchman is a
citizen of the United States of America.
Item 2(d). Title of Class of Securities:
Common Stock, par value $0.01 per share
Item 2(e). CUSIP Number:
158711101
Item 3. If this Statement is Filed Pursuant to Rule 13d-1(b), or
13d-2(b) or (c), Check Whether the Person Filing is a:
/X/ Not Applicable
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CUSIP No. 158711101 13G Page 6 of 10 Pages
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(a) / / Broker or dealer registered under Section 15 of the
Exchange Act.
(b) / / Bank as defined in Section 3(a)(6) of the Exchange Act.
(c) / / Insurance company as defined in Section 3(a)(19) of the
Exchange Act.
(d) / / Investment company registered under Section 8 of the
Investment Company Act.
(e) / / An investment adviser in accordance with Rule
13d-1(b)(1)(ii)(E).
(f) / / An employee benefit plan or endowment fund in accordance
with Rule 13d-1(b)(1)(ii)(F).
(g) / / A parent holding company or control person in accordance
with Rule 13d-1(b)(1)(ii)(G).
(h) / / A savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act.
(i) / / A church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the
Investment Company Act.
(j) / / Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
Item 4. Ownership.
1. CP & CCS
(a) Amount beneficially owned:
0 shares
(b) Percent of class:
0%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote
0 shares
(ii) Shared power to vote or to direct the vote
0 shares
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CUSIP No. 158711101 13G Page 7 of 10 Pages
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(iii) Sole power to dispose or to direct the disposition of
0 shares
(iv) Shared power to dispose or to direct the disposition of
0 shares
2. Jonathan Couchman
(a) Amount beneficially owned:
0 shares
(b) Percent of class:
0%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote
0 shares
(ii) Shared power to vote or to direct the vote
0 shares
(iii) Sole power to dispose or to direct the disposition of
0 shares
(iv) Shared power to dispose or to direct the disposition of
0 shares
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of
the date hereof the Reporting Persons have ceased to be the
beneficial owners of more than five percent of the class of
securities, check the following [x].
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Not Applicable
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CUSIP No. 158711101 13G Page 8 of 10 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.
See Joint Filing Agreement attached as Exhibit A.
Item 9. Notice of Dissolution of Group.
Not Applicable
Item 10. Certifications.
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. 158711101 13G Page 9 of 10 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.
Dated: February 14, 2006 COUCHMAN PARTNERS, L.P.
By: Couchman Capital Services LLC,
its general partner
By: /s/ Jonathan Couchman
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Jonathan Couchman
Member of Management Board
COUCHMAN CAPITAL SERVICES LLC
By: /s/ Jonathan Couchman
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Jonathan Couchman
Member of Management Board
/s/ Jonathan Couchman
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JONATHAN COUCHMAN
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CUSIP No. 158711101 13G Page 10 of 10 Pages
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EXHIBIT A
JOINT FILING AGREEMENT
The undersigned hereby agree that the Statement on Schedule 13G, dated
February 14, 2006, with respect to the shares of Common Stock of Championship
Auto Racing Teams, Inc. and any further amendments thereto executed by each and
any of the undersigned shall be filed on behalf of each of the undersigned
pursuant to and in accordance with the provisions of Rule 13d-1(k)(1) under the
Securities Exchange Act of 1934, as amended.
This Agreement may be executed in separate counterparts, each of which
shall be deemed an original, but all of which shall constitute one and the same
instrument.
Dated: February 14, 2006 COUCHMAN PARTNERS, L.P.
By: Couchman Capital Services LLC,
its general partner
By: /s/ Jonathan Couchman
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Jonathan Couchman
Member of Management Board
COUCHMAN CAPITAL SERVICES LLC
By: /s/ Jonathan Couchman
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Jonathan Couchman
Member of Management Board
/s/ Jonathan Couchman
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JONATHAN COUCHMAN