| Item 1(a). | Name of Issuer: |
Altisource Residential Corporation (the “Issuer”)
| Item 1(b). | Address of Issuer’s Principal Executive Offices: |
c/o Altisource Asset Management Corporation, 5100 Tamarind Reef, Christiansted, United States Virgin Islands 00820
| Item 2(a). | Name of Persons Filing: |
This Statement is filed on behalf of each of the following persons (collectively, the “Reporting Persons”):
i) Deer Park Road Management Company, LP (“Deer Park”);
ii) Deer Park Road Management GP, LLC (“DPRM”);
iii) Deer Park Road Corporation (“DPRC”);
iv) Michael David Craig-Scheckman (“Mr. Craig-Scheckman”);
v) AgateCreek LLC (“AgateCreek”); and
vi) Scott Edward Burg (“Mr. Burg”).
This Statement relates to Shares (as defined herein) held for the account of STS Master Fund, Ltd. (the “STS Master Fund”), which is an exempted company organized under the laws of the Cayman Islands. Deer Park serves as investment adviser to the STS Master Fund and, in such capacity, exercises voting and investment power over the Shares held in the account for the STS Master Fund. DPRM is the general partner of Deer Park. Each of DPRC and AgateCreek is a member of DPRM. Mr. Craig-Scheckman is the Chief Executive Officer of each of Deer Park and DPRC and the sole owner of DPRC. Mr. Burg is the Chief Investment Officer of Deer Park and the sole member of AgateCreek.
| Item 2(b). | Address of Principal Business Office or, if none, Residence: |
The address of the principal business office of each of the Reporting Persons is 1195 Bangtail Way, Steamboat Springs, Colorado 80487.
i) Deer Park is a limited partnership incorporated in Delaware;
ii) DPRM is a limited liability company incorporated in Delaware;
iii) DPRC is a Delaware corporation;
iv) Mr. Craig-Scheckman is a citizen of the United States of America;
v) AgateCreek is a limited liability company incorporated in Colorado; and
vi) Mr. Burg 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 (the “Shares”)
02153W100
| Item 3. | If This Statement is Filed Pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), Check Whether the Person Filing is a: |
(e) [X] An investment adviser in accordance with §240.13d-(b)(1)(ii)(E).
(g) [X] A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G).
Item 4.
Item 4(a) | Ownership: Amount Beneficially Owned: |
As of December 31, 2017, each of the Reporting Persons may be deemed the beneficial owner of 2,685,039 Shares held for the account of the STS Master Fund.
| Item 4(b) | Percent of Class: |
As of December 31, 2017, each of the Reporting Persons may be deemed the beneficial owner of approximately 5.02% of Shares outstanding (based on 53,447,950 Shares outstanding as of October 31, 2017, according to the Issuer’s quarterly report on Form 10-Q, filed November 7, 2017).
| Item 4(c) | Number of Shares as to which such person has: |
| (i) Sole power to vote or direct the vote: | 0 |
| (ii) Shared power to vote or direct the vote: | 2,685,039 |
| (iii) Sole power to dispose or direct the disposition of: | 0 |
| (iv) Shared power to dispose or direct the disposition of: | 2,685,039 |
| Item 5. | Ownership of Five Percent or Less of a Class: |
This Item 5 is not applicable.
| Item 6. | Ownership of More Than Five Percent on Behalf of Another Person: |
See disclosure in Items 2 and 4 hereof. STS Master Fund has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, more than 5 percent of the Shares covered by this Statement that may be deemed to be beneficially owned by the Reporting Persons.
| Item 7. | Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on By the Parent Holding Company: |
See disclosure in Item 2 hereof.
| Item 8. | Identification and Classification of Members of the Group: |
This Item 8 is not applicable.
| Item 9. | Notice of Dissolution of Group: |
This Item 9 is not applicable.
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and 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, other than activities solely in connection with a nomination under §240.14a-11.
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.
