| FORM 3 | UNITED
STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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1. Name and
Address of Reporting Person*
(Street)
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2. Date of Event
Requiring Statement (Month/Day/Year) 11/10/2006 |
3. Issuer Name and
Ticker or Trading Symbol STERLING CHEMICALS INC [ SCHI ] | |||||||||||||
| 4. Relationship
of Reporting Person(s) to Issuer (Check all applicable)
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5. If Amendment, Date of Original
Filed (Month/Day/Year) | ||||||||||||||
6. Individual or Joint/Group Filing
(Check Applicable Line)
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| Table I - Non-Derivative Securities Beneficially Owned | |||
|---|---|---|---|
| 1. Title of Security (Instr. 4) | 2. Amount of Securities Beneficially Owned (Instr. 4) | 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 4. Nature of Indirect Beneficial Ownership (Instr. 5) |
| Table
II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||
|---|---|---|---|---|---|---|---|
| 1. Title of Derivative Security (Instr. 4) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) | 4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 6. Nature of Indirect Beneficial Ownership (Instr. 5) | ||
| Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
| Explanation of Responses: |
| Remarks: |
| Mr. Steven Gidumal serves as Managing Director and Co-CIO of Resurgence Asset Management, L.L.C. ("RAM"), Resurgence Asset Management International, L.L.C. ("RAMI"), and Re/Enterprise Asset Management L.L.C. ("REAM"). RAM exercises voting and investment power over the Issuer's securities solely in RAM's capacity as the general partner and/or sole investment advisor of M.D. Sass Corporate Resurgence Partners, L.P., M.D. Sass Corporate Resurgence Partners II, L.P., M.D. Sass Corporate Resurgence Partners III, L.P., and the Resurgence Asset Management, L.L.C. Employee Retirement Plan. RAMI exercises voting and investment power over the Issuer's securities soley in RAMI's capacity as the sole special shareholder of and sole investment advisor of M.D. Sass Corporate Resurgence Partners International, Ltd. REAM exercises voting and investment power over the Issuer's securities (a) as the sole investment advisor to two employee pension plans and (b) as general partner and sole investment advisor of M.D. Sass Re/Enterprise Portfolio Company, L.P. and M.D. Sass Re/Enterprise II, L.P. In addition, certain funds which have invested side-by-side with funds managed by RAM and RAMI beneficially own additional shares of the Issuer's common stock (the "Other Shares"). Mr. Gidumal disclaims any beneficial ownership of or pecuniary interest in all such securities and interest, if any, in RAM, RAMI, REAM and the entities owning the Other Securities. |
| No securities are beneficially owned. |
| /s/ Steven L. Gidumal | 11/20/2006 | |
| ** Signature of Reporting Person | Date | |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
| * If the form is filed by more than one reporting person, see Instruction 5 (b)(v). | ||
| ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. | ||