Attached files
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
November 16, 2009
Date of report (Date of earliest event reported)
Lehman ABS Corporation, on behalf of:
Corporate Bond-Backed Certificates, Series 1998-NSC-1 Trust
Delaware 001-31976 13-3447441
(State or Other Jurisdiction (Commission File (I.R.S. Employer
of Incorporation) Number) Identification No.)
1271 Avenue of the Americas
New York, New York 10020
(Address of Principal Executive Offices) (Zip Code)
(646) 285-9000
(Registrant's Telephone Number,
Including Area Code)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
following provisions (see General Instruction A.2. below):
[_] Written communications pursuant to Rule 425 under the Securities act (17
CRF 230.425)
[_] Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17
CFR 240.14a-12(b))
[_] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-12(b))
[_] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Lehman ABS Corporation (the "Depositor") is the Depositor in respect of the
Corporate Bond-Backed Certificates, Series 1998-NSC-1 Trust (the "Trust"), a
common law trust formed pursuant to the Standard Terms for Trust Agreements,
dated as of February 25, 1998, between the Depositor and The Bank of New York
Mellon (f/k/a The Bank of New York), as trustee (the "Trustee"), as supplemented
by a Series Supplement (the "Series Supplement") dated as of February 25, 1998,
in respect of the Trust. The Trust's assets consist solely of notes issued by
Norfolk Southern Corporation. The Certificates do not represent obligations of,
or interests in, the Depositor or the Trustee.
The Registrant is a wholly-owned, indirect subsidiary of Lehman Brothers
Holdings Inc. ("LBHI"), which filed a voluntary petition (the "Petition") for
relief under Chapter 11 of the United States Code in the United States
Bankruptcy Court for the Southern District of New York on September 15, 2008 in
a jointly administered proceeding named In re Lehman Brothers Holdings Inc., et.
al. under Case Number 08-13555. LBHI and its wholly-owned broker-dealer, Lehman
Brothers Inc., have sold since September 15, 2008 significant businesses,
including the sale on September 21, 2008 of the investment banking business to
Barclays Capital Inc., which business included the employees who historically
conducted the Registrant's business. As a result of the foregoing, the
Registrant discontinued its securitization business and the individuals
previously involved in such securitization business are no longer employed by
the Registrant's affiliates.
Item 8.01 OTHER EVENTS
On November 16, 2009, distributions were made to the holders of the certificates
issued by the Trust. Specific information with respect to the distributions is
filed as Exhibit 99.1 hereto.
No other reportable transactions or matters have occurred during the current
reporting period.
Norfolk Southern Corporation, the issuer of the underlying securities, is
subject to the information reporting requirements of the Securities Exchange Act
of 1934, as amended (the "Exchange Act"). For information on the issuer of the
underlying securities please see its periodic and current reports filed with the
Securities and Exchange Commission (the "Commission") under the issuer's
Exchange Act file number, 001-08339. The Commission maintains a site on the
World Wide Web at "http://www.sec.gov" at which users can view and download
copies of reports, proxy and information statements and other information filed
electronically through the Electronic Data Gathering, Analysis and Retrieval
system, or "EDGAR." Periodic and current reports and other information required
to be filed pursuant to the Exchange Act by the issuer of the underlying
securities may be accessed on this site. Neither Lehman ABS Corporation nor the
Trustee has participated in the preparation of such reporting documents, or made
any due diligence investigation with respect to the information provided
therein. Neither Lehman ABS Corporation nor the Trustee has verified the
accuracy or completeness of such documents or reports. There can be no assurance
that events affecting the issuer of the underlying securities, or the underlying
securities themselves, have not occurred or have not yet been publicly disclosed
which would affect the accuracy or completeness of the publicly available
documents described above.
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Item 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) The following exhibit was filed as part of this report:
99.1 Trustee's Distribution Statement to the Corporate Bond-Backed
Certificates, Series 1998-NSC-1 Trust for the period ending November
16, 2009.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized. In preparing this report the Registrant
has relied on the information provided to it by the Trustee.
Date: December 1, 2009
Lehman ABS Corporation
By: /s/ William J. Fox
----------------------
Name: William J. Fox
Title: Chief Financial Officer,
Controller and Senior Vice President
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EXHIBIT INDEX
Exhibit Number Description
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99.1 Trustee's Distribution Statement to the Corporate Bond-Backed
Certificates, Series 1998-NSC-1 Trust for the period ending
November 16, 2009
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