<SEC-DOCUMENT>0000950157-25-000180.txt : 20250220
<SEC-HEADER>0000950157-25-000180.hdr.sgml : 20250220
<ACCEPTANCE-DATETIME>20250220170519
ACCESSION NUMBER:		0000950157-25-000180
CONFORMED SUBMISSION TYPE:	SCHEDULE 13D/A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20250220
DATE AS OF CHANGE:		20250220

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TEEKAY CORP LTD
		CENTRAL INDEX KEY:			0000911971
		STANDARD INDUSTRIAL CLASSIFICATION:	DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
		ORGANIZATION NAME:           	01 Energy & Transportation
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			D0
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-45313
		FILM NUMBER:		25646580

	BUSINESS ADDRESS:	
		STREET 1:		2ND FLOOR, SWAN BUILDING
		STREET 2:		26 VICTORIA STREET
		CITY:			HAMILTON
		STATE:			D0
		ZIP:			HM 12
		BUSINESS PHONE:		604-683-3529

	MAIL ADDRESS:	
		STREET 1:		2ND FLOOR, SWAN BUILDING
		STREET 2:		26 VICTORIA STREET
		CITY:			HAMILTON
		STATE:			D0
		ZIP:			HM 12

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TEEKAY CORP
		DATE OF NAME CHANGE:	20070608

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TEEKAY SHIPPING CORP
		DATE OF NAME CHANGE:	19950609

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VIKING STAR SHIPPING INC
		DATE OF NAME CHANGE:	19930914

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			RESOLUTE INVESTMENTS, LTD.
		CENTRAL INDEX KEY:			0001211679
		ORGANIZATION NAME:           	
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A

	BUSINESS ADDRESS:	
		STREET 1:		SUITE 794
		STREET 2:		48 PAR-LA-VILLE ROAD
		CITY:			HAMILTON
		STATE:			D0
		ZIP:			HM 11
		BUSINESS PHONE:		4414007716

	MAIL ADDRESS:	
		STREET 1:		SUITE 794
		STREET 2:		48 PAR-LA-VILLE ROAD
		CITY:			HAMILTON
		STATE:			D0
		ZIP:			HM 11

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	RESOLUTE INVESTMENTS INC
		DATE OF NAME CHANGE:	20021223
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13D" xmlns:com="http://www.sec.gov/edgar/common">
<headerData>
<submissionType>SCHEDULE 13D/A</submissionType>
<previousAccessionNumber>0000950157-24-001467</previousAccessionNumber>
<filerInfo>
<filer>
<filerCredentials>
<cik>0001211679</cik>
<ccc>XXXXXXXX</ccc>
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</filer>
<liveTestFlag>LIVE</liveTestFlag>



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</headerData>
<formData>
<coverPageHeader>
<amendmentNo>14</amendmentNo>
<securitiesClassTitle>Common stock, $0.001 par value</securitiesClassTitle>
<dateOfEvent>02/19/2025</dateOfEvent>
<previouslyFiledFlag>false</previouslyFiledFlag>
<issuerInfo>
<issuerCIK>0000911971</issuerCIK>
<issuerCUSIP>Y8564W103</issuerCUSIP>
<issuerName>Teekay Corporation</issuerName>
<address>
<com:street1>Swan Building, 2nd Floor</com:street1>
<com:street2>26 Victoria Street</com:street2>
<com:city>Hamilton</com:city>
<com:stateOrCountry>D0</com:stateOrCountry>
<com:zipCode>HM 12</com:zipCode>
</address>
</issuerInfo>
<authorizedPersons>
<notificationInfo>
<personName>Cora Lee Starzomski</personName>
<personPhoneNum>(441) 400-7716</personPhoneNum>
<personAddress>
<com:street1>Swan Building, 2nd Floor</com:street1>
<com:street2>26 Victoria Street</com:street2>
<com:city>Hamilton</com:city>
<com:stateOrCountry>D0</com:stateOrCountry>
<com:zipCode>HM 12</com:zipCode>
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<reportingPersons>
<reportingPersonInfo>
<reportingPersonCIK>0001211679</reportingPersonCIK>
<reportingPersonName>Resolute Investments, Ltd.</reportingPersonName>
<memberOfGroup>b</memberOfGroup>
<fundType>OO</fundType>
<citizenshipOrOrganization>D0</citizenshipOrOrganization>
<sharedVotingPower>31936012</sharedVotingPower>
<sharedDispositivePower>31936012</sharedDispositivePower>
<aggregateAmountOwned>31936012</aggregateAmountOwned>
<isAggregateExcludeShares>N</isAggregateExcludeShares>
<percentOfClass>37.99</percentOfClass>
<typeOfReportingPerson>CO</typeOfReportingPerson>
<commentContent>Percentage ownership is based on an aggregate number of outstanding shares of common stock of Teekay Corporation of 84,059,952, as reported in the Form 6-K filed February 19, 2025.</commentContent>
</reportingPersonInfo>
<reportingPersonInfo>
<reportingPersonCIK>0001431113</reportingPersonCIK>
<reportingPersonName>Path Spirit LTD</reportingPersonName>
<memberOfGroup>b</memberOfGroup>
<fundType>OO</fundType>
<citizenshipOrOrganization>X0</citizenshipOrOrganization>
<sharedVotingPower>31936012</sharedVotingPower>
<sharedDispositivePower>31936012</sharedDispositivePower>
<aggregateAmountOwned>31936012</aggregateAmountOwned>
<isAggregateExcludeShares>N</isAggregateExcludeShares>
<percentOfClass>37.99</percentOfClass>
<typeOfReportingPerson>OO</typeOfReportingPerson>
<commentContent>Percentage ownership is based on an aggregate number of outstanding shares of common stock of Teekay Corporation of 84,059,952, as reported in the Form 6-K filed February 19, 2025.</commentContent>
</reportingPersonInfo>
</reportingPersons>
<items1To7>
<item1>
<securityTitle>Common stock, $0.001 par value</securityTitle>
<issuerName>Teekay Corporation</issuerName>
<issuerPrincipalAddress>
<com:street1>Swan Building, 2nd Floor</com:street1>
<com:street2>26 Victoria Street</com:street2>
<com:city>Hamilton</com:city>
<com:stateOrCountry>D0</com:stateOrCountry>
<com:zipCode>HM 12</com:zipCode>
</issuerPrincipalAddress>
<commentText>This Amendment No. 14 to Schedule 13D is being filed to report an increase in the percentage beneficially owned by the reporting persons solely as a result in a decrease in the total number of outstanding shares, and amends Amendment No. 13 filed on October 30, 2024,  Amendment No. 12 filed on August 3, 2023,  Amendment No. 11 filed on May 11, 2023, Amendment No. 10 filed on January 26, 2018, Amendment No. 9 filed on July 1, 2016, Amendment No. 8 filed on December 30, 2015, Amendment No. 7, filed on December 23, 2015, Amendment No. 6, filed on December 3, 2013, Amendment No. 5, filed on November 14, 2011, Amendment No. 4, filed on August 29, 2011, Amendment No. 3, filed on February 22, 2010, Amendment No. 2, filed on April 2, 2008, Amendment No. 1, filed on March 31, 2005, and Schedule 13D filed on December 26, 2002, and relates to shares of the common stock, $0.001 par value per share, of Teekay Corporation, an exempted company existing under the laws of Bermuda (the "Issuer").</commentText>
</item1>
<item2>
<filingPersonName>Resolute Investments, Ltd., a Bermudian exempt company ("Resolute"), with its principal office at 2nd Floor, Swan Building, 26 Victoria Street, Hamilton, HM12, Bermuda; and Path Spirit Limited, an English company limited by guarantee ("Path"), with its principal office at 10 Norwich Street, London, EC4A 1BD, United Kingdom.</filingPersonName>
<principalBusinessAddress>Resolute, which was formed for the purpose of holding the Issuer's securities acquired from its previous beneficial owners, Cirrus Trust and JTK Trust, is wholly owned by Kattegat Limited, a Bermudian exempt company with its principal offices at 2nd Floor, Swan Building, 26 Victoria Street, Hamilton, HM12, Bermuda. Kattegat Limited was formed for the purpose of holding and managing the endowed assets of The Kattegat Trust (the "Trust") and is wholly owned by the Trust. The Trust is a Bermudian charitable trust, engaged in the principal business of distributing income for charitable purposes, with its principal offices at Wessex House, 5th Floor, 45 Reid Street, Hamilton, HM12, Bermuda. The Co-Trustees of the Trust are Kattegat Private Trustees (Bermuda) Limited ("KPTBL") and Hamilton Trust Company Limited ("HTCL"), Bermudian trust companies each with its principal offices at Wessex House, 5th Floor, 45 Reid Street, Hamilton, HM12, Bermuda. Path is the trust protector for the Trust. KPTBL is wholly owned by The Lund Purpose Trust, a Bermudian purpose trust with its principal offices at Thistle House, 4 Burnaby Street, Hamilton, HM11, Bermuda, formed for the sole purpose of holding the shares of KPTBL. HTCL is owned 60% by Moore Stephens Bermuda L.P., a Bermuda exempted and limited partnership, and 40% by Lisvane Holdings Ltd., a local Bermuda company.</principalBusinessAddress>
<principalJob>Resolute is managed by Thomas K.Y. Hsu, a Director and its President, Peter Antturi, a director and Vice President, Cora Lee Starzomski, a director and Treasurer, and Louie Cuarentas, a director and Finance Officer.&#13;
&#13;
The members/directors of Path are Axel Karlshoej, Svend Erik Kjaergaard and Poul Karlshoej.&#13;
&#13;
Thomas K.Y. Hsu is a director of CNC Industries SAM, whose address is at 5 impasse de la Fontaine, MC 98000, Principality of Monaco. &#13;
&#13;
Peter Antturi's business address is Suite 435, 401 Georgia St. W, Vancouver, B.C. V6B 1Z3 Canada. Mr. Antturi is a business advisor and a director of Anglemont Financial Services Ltd. (a provider of administrative and clerical services) whose address is 435, 401 Georgia St. W, Vancouver, B.C. V6B 1Z3, Canada. Mr. Antturi has been a director of Teekay Corporation since 2019. &#13;
&#13;
Cora Lee Starzomski's business address is 2nd Floor, Swan Building, 26 Victoria Street, Hamilton, HM12 Bermuda. Ms. Starzomski is Chief Operating Officer of Kattegat Limited, whose address is 2nd Floor, Swan Building, 26 Victoria Street, Hamilton, HM12, Bermuda.  &#13;
&#13;
Louie Cuarentas' business address is 2nd Floor, Swan Building, 26 Victoria Street, Hamilton, HM12 Bermuda. Mr. Cuarentas is Group Accountant of Kattegat Limited, whose address is 2nd Floor, Swan Building, 26 Victoria Street, Hamilton, HM12, Bermuda. &#13;
&#13;
Axel Karlshoej is a director of Nordic Industries, a California general construction firm whose address is 1437 Furneaux Road, Marysville, California, USA, 95961. &#13;
&#13;
Svend Erik Kjaergaard's business address is Nylandsvej 23, Vildbjerg 7480, Denmark. Mr. Kjaergaard is the Chairman and a director of Store Frederikslund A/S, a hunting and farming estate in Denmark. &#13;
&#13;
Poul Karlshoej's business address is 301 Riverside Ave, Westport, Connecticut, 06680. Mr. Karlshoej is a consultant at Anholt Services (USA), Inc., a wholly owned affiliate of the Kattegat Trust, which evaluates and advises Kattegat's interests globally.</principalJob>
<hasBeenConvicted>In the past five years, none of Resolute, Kattegat Limited, the Trust, the Co-Trustees, the Lund Purpose Trust or Path, nor any of the directors and executive officers named above, has been convicted in a criminal proceeding.</hasBeenConvicted>
<convictionDescription>In the past five years, none of Resolute, Kattegat Limited, the Trust, the Co-Trustees, the Lund Purpose Trust or Path, nor any of the directors and executive officers named above, has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.</convictionDescription>
<citizenship>Mr. Hsu is a citizen of the United Kingdom.&#13;
&#13;
Mr. Antturi is a citizen of Canada.&#13;
&#13;
Ms. Starzomski is a citizen of Canada.&#13;
&#13;
Mr. Cuarentas is a citizen of Canada.&#13;
&#13;
Mr. Axel Karlshoej is a citizen of the United States of America. &#13;
&#13;
Mr. Kjaegaard is a citizen of Denmark.&#13;
&#13;
Mr. Poul Karlshoej is a citizen of the United States of America.</citizenship>
</item2>
<item3>
<fundsSource>No amendment to item 3.</fundsSource>
</item3>
<item4>
<transactionPurpose>No amendment to Item 4.</transactionPurpose>
</item4>
<item5>
<percentageOfClassSecurities>31,936,012 shares of common stock of the Issuer, representing approximately 37.99% of the Issuer's outstanding common stock.</percentageOfClassSecurities>
<numberOfShares>Resolute is the beneficial owner and has shared voting and dispositive power with respect to 31,936,012 shares of common stock of the Issuer. As the ultimate controlling person of Resolute, Path is joining in this Schedule 13D as a reporting person. However, the filing of this Schedule 13D shall not be construed as an admission that Path is, for any purpose, the beneficial owner of any of such shares of common stock of the Issuer.</numberOfShares>
<transactionDesc>None.</transactionDesc>
<listOfShareholders>None.</listOfShareholders>
<date5PercentOwnership>None.</date5PercentOwnership>
</item5>
<item6>
<contractDescription>No amendments to item 6.</contractDescription>
</item6>
<item7>
<filedExhibits>Exhibit 99.1:  Joint Filing Agreement, dated as of February 20, 2025, between the reporting persons.</filedExhibits>
</item7>
</items1To7>
<signatureInfo>
<signaturePerson>
<signatureReportingPerson>Resolute Investments, Ltd.</signatureReportingPerson>
<signatureDetails>
<signature>/s/ Cora Lee Starzomski</signature>
<title>Cora Lee Starzomski/Director, Treasurer and Finance Officer</title>
<date>02/20/2025</date>
</signatureDetails>
</signaturePerson>
<signaturePerson>
<signatureReportingPerson>Path Spirit LTD</signatureReportingPerson>
<signatureDetails>
<signature>/s/ Poul Karlshoej</signature>
<title>Poul Karlshoej/Director</title>
<date>02/20/2025</date>
</signatureDetails>
</signaturePerson>
</signatureInfo>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex99-1.htm
<DESCRIPTION>JOINT FILING AGREEMENT
<TEXT>
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    <div style="text-align: right; font-weight: bold;">EXHIBIT 99.1</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">JOINT FILING AGREEMENT</div>
    <div><br>
    </div>
    <div><br>
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    <div>This JOINT FILING AGREEMENT, dated as of February 20, 2025, is between Resolute Investments, Ltd. and Path Spirit Limited (collectively, the &#8220;Joint Filers&#8221;).</div>
    <div><br>
    </div>
    <div style="text-align: justify;">WHEREAS, pursuant to Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;), the Joint Filers desire to satisfy any filing
      obligation under Section 13(d) of the Exchange Act by a single joint filing;</div>
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    <div>NOW, THEREFORE, in consideration of the promises and the mutual covenants herein contained, the Joint Filers hereby agree as follows:</div>
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    <div>1. The Amendment No. 14 to Schedule 13D with respect to the shares of Teekay Corporation (the &#8220;Company&#8221;) (to which this Joint Filing Agreement is an exhibit) is filed on
      behalf of each of the Joint Filers.</div>
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    <div>2. Each of the Joint Filers is eligible to use Schedule 13D for the filing of information therein.</div>
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    <div>3. Each of the Joint Filers is responsible for the timely filing of Amendment No. 14 to Schedule 13D and any future amendments thereto, and for the completeness and
      accuracy of the information concerning such person contained therein, provided that each such person is not responsible for the completeness or accuracy of the information concerning the other persons making the filing, unless such person knows or
      has reason to believe that such information is inaccurate.</div>
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    <div>4. This Joint Filing Agreement may be executed in any number of counterparts, all of which together shall constitute one and the same instrument.</div>
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    <div style="text-align: center;">(Signatures are on the following page)</div>
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    <div>IN WITNESS WHEREOF, each of the undersigned has caused this Joint Filing Agreement to be duly executed and delivered as of the date first written above.</div>
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            <td valign="top" style="width: 12%;">&#160;</td>
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            <td valign="top" nowrap="nowrap" align="left" style="border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">/s/ Poul Karlshoej</td>
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            <td valign="top" style="width: 3%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" align="left" style="width: 4%;">Name:</td>
            <td valign="bottom" nowrap="nowrap" align="left" style="width: 31%;">Poul Karlshoej</td>
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