Lehman Abs Corp Corporate Backed Trust Certs 2002-14 - Annual Report (10-K)
31 Mars 2008 - 12:01PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K
(Mark One)
[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2007
or
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from ________ to ________
Commission File Number: 001-31411
filed on behalf of:
Corporate Backed Trust Certificates, Motorola Debenture-Backed Series 2002-14
Trust
(Exact Name of Registrant as Specified in Its Charter)
by:
Lehman ABS Corporation
(Exact Name of Depositor as Specified in Its Charter)
Delaware 13-3447441
--------------------------------------------- -------------------------------
(State or other jurisdiction of incorporation (I.R.S. Employer Identification
or organization) No.)
745 Seventh Avenue, New York, New York 10019
--------------------------------------- -------------
(Address of principal executive (Zip Code)
offices)
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Registrant's telephone number, including area code: (212) 526-7000
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class Name of Each Exchange on Which Registered
------------------- -----------------------------------------
Corporate Backed Trust Certificates, New York Stock Exchange ("NYSE")
Motorola Debenture-Backed Series
2002-14
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Securities registered pursuant to Section 12(g) of the Act: None
Indicate by check mark if the registrant is a well-known seasoned issuer, as
defined in Rule 405 of the Securities Act.
Yes [ ] No [X]
Indicate by check mark if the registrant is not required to file reports
pursuant to Section 13 or Section 15(d) of the Act.
Yes [ ] No [X]
Indicate by check mark whether the registrant: (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.
Yes [X] No [ ]
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405
of Regulation S-K (ss. 229.405) is not contained herein, and will not be
contained, to the best of registrant's knowledge, in definitive proxy or
information statements incorporated by reference in Part III of this Form 10-K
or any amendment to this Form 10-K. [X]
Indicate by check mark whether the registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer, or a smaller reporting company. See
the definitions of "large accelerated filer," "accelerated filer" and "smaller
reporting company" in Rule 12b-2 of the Exchange Act. (Check one):
Large Accelerated Filer [ ] Accelerated Filer [ ] Non-Accelerated Filer [X] Smaller Reporting Company [ ]
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Indicate by check mark whether the registrant is a shell company (as defined
in Rule 12b-2 of the Act).
Yes [ ] No [X]
State the aggregate market value of the voting and non-voting common equity held
by nonaffiliates computed by reference to the price at which the common equity
was last sold, or the average bid and asked price of such common equity, as of
the last business day of the registrant's most recently completed second fiscal
quarter.
The registrant has no voting stock or class of common stock that is held
by nonaffiliates.
DOCUMENTS INCORPORATED BY REFERENCE
The distribution reports to security holders filed on Form 8-K during the fiscal
year in lieu of reports on Form 10-Q which include the reports filed on Form 8-K
listed in Item 15(a) hereto are incorporated by reference into part IV of this
Annual Report.
Introductory Note
Lehman ABS Corporation (the "Depositor") is the Depositor in respect of the
Corporate Backed Trust Certificates, Motorola Debenture-Backed Series 2002-14
Trust (the "Trust"), a common law trust formed pursuant to the Standard Terms
for Trust Agreements, dated as of January 16, 2001, between the Depositor and
U.S. Bank Trust National Association, as trustee (the "Trustee"), as
supplemented by a Series Supplement (the "Series Supplement") dated as of July
19, 2002 in respect of the Trust. The Trust's assets consist solely of
debentures issued by Motorola, Inc. The Certificates do not represent
obligations of or interests in the Depositor or the Trustee.
Motorola, Inc., 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 Motorola, Inc.'s
Exchange Act file number, 001-07221. 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
regarding issuers 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 the
Depositor 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 the Depositor nor the Trustee has verified
the accuracy or completeness of such documents or reports. There can be no
assurance that
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events affecting the issuer of the underlying securities or the underlying
securities have not occurred or have not yet been publicly disclosed which would
affect the accuracy or completeness of the publicly available documents
described above.
PART I
Item 1. Business.
Not Applicable
Item 1A. Risk Factors.
Not Applicable
Item 1B. Unresolved Staff Comments.
Not Applicable
Item 2. Properties.
Not Applicable
Item 3. Legal Proceedings.
None
Item 4. Submission of Matters to a Vote of Security Holders.
None
PART II
Item 5. Market for Registrant's Common Equity, Related Stockholder Matters
and Issuer Purchases of Equity Securities.
The publicly offered Certificates representing investors' interest in the
Trust are represented by one or more physical Certificates registered in the
name of "Cede & Co.", the nominee of The Depository Trust Company. Those
publicly offered Certificates are listed on the NYSE.
Item 6. Selected Financial Data.
Not Applicable
Item 7. Management's Discussion and Analysis of Financial Condition and
Results of Operation.
Not Applicable
Item 7A. Quantitative and Qualitative Disclosures About Market Risk.
Not Applicable
Item 8. Financial Statements and Supplementary Data.
Not Applicable
Item 9. Changes in and Disagreements With Accountants on Accounting and
Financial Disclosure.
None
Item 9A. Controls and Procedures.
Not Applicable
Item 9A(T). Controls and Procedures.
Not Applicable
Item 9B. Other Information.
None
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PART III
Item 10. Directors, Executive Officers and Corporate Governance.
Not Applicable
Item 11. Executive Compensation.
Not Applicable
Item 12. Security Ownership of Certain Beneficial Owners and Management and
Related Stockholder Matters.
Not Applicable
Item 13. Certain Relationships and Related Transactions, and Director
Independence.
None
Item 14. Principal Accountant Fees and Services.
Not Applicable
PART IV
Item 15. Exhibits, Financial Statement Schedules.
(a) The following documents have been filed as part of this report.
1. Trustee's Distribution Statements documented on Form 8-K
regarding the distributions from the Trust to the
certificateholders for the period from January 1, 2007 through
and including December 31, 2007 have been filed with the
Securities and Exchange Commission and are hereby incorporated by
reference. Filing dates are listed below:
-------------------------------------------------------------------------
Trust Description Distribution Filed on
Date
-------------------------------------------------------------------------
Corporate Backed Trust Certificates, 05/15/2007 05/24/2007
Motorola Debenture-Backed Series 2002-14 11/15/2007 11/27/2007
Trust
-------------------------------------------------------------------------
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2. None.
3. Exhibits:
31.1 - Certification by Senior Vice President of the
Registrant pursuant to 15 U.S.C. Section 7241, as adopted
pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2 - Annual Compliance Report by Trustee pursuant to 15
U.S.C. Section 7241, as adopted pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002.
The trust covered by this Annual Report was formed prior to
June 30, 2003 and there is no requirement in the trust
agreement for the preparation of a report by an independent
public accountant regarding the Trustee's compliance with its
obligations.
(b) See Item 15(a) above.
(c) Not Applicable.
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SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) 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.
Lehman ABS Corporation, as Depositor for the
Trust (the "Registrant")
Dated: March 26, 2008 By:/s/ Scott Barek
---------------------------
Name: Scott Barek
Title: Senior Vice President
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EXHIBIT INDEX
-------------------------------------------------------------------------
Reference
Number per Exhibit
Item 601 of Number
Regulation in this
SK Description of Exhibits Form 10-K
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(31.1) Certification by Senior Vice 31.1
President of the Registrant pursuant
to 15 U.S.C. Section 7241, as adopted
pursuant to Section 302 of the
Sarbanes-Oxley Act of 2002.
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31.2) Annual Compliance Report by Trustee
pursuant to 15 U.S.C. Section 7241,
as adopted pursuant to Section 302 of 31.2
the Sarbanes-Oxley Act of 2002.
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