- Periodic Reports by Asset-Backed Issuers (10-D)
28 Luglio 2009 - 11:14PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-D
ASSET-BACKED ISSUER
DISTRIBUTION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
For the semi-annual distribution period from
September 1, 2008 to March 1, 2009
Commission File Number of Issuing entity:
001-33286
CORPORATE BACKED CALLABLE TRUST CERTIFICATES, J.C. PENNEY
DEBENTURE-BACKED
SERIES 2007-1
(Exact name of issuing entity as specified in its
charter)
Commission File Number of depositor:
333-112795
Select Asset Inc.
(Exact name of depositor as specified in its charter)
Delaware
(State or other jurisdiction
of incorporation or organization of the issuing entity)
13-4029392
(I.R.S. Employer
Identification No.)
1271 Avenue of the Americas
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New York, NYC
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10020
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(Address of principal executive offices of issuing
entity)
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(Zip Code)
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(212)
526-7000
(Telephone number, including area code)
745 Seventh Avenue
New York, New York 10019
(Former name, former address, if changed since last
report)
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Registered/reporting pursuant to (check one)
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Name of exchange
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Title of Class
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Section 12(b)
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Section 12(g)
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Section 15(d)
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(If Section 12(b))
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Corporate
Backed Callable Trust Certificates, J.C. Penney Debenture-Backed
Series 2007-1, Class A-1
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x
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New York Stock Exchange
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Indicate by check mark whether the registrant (1) filed
all reports required to be filed by Section 13 or 15(d) of the
Securities and 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
o
PART I - DISTRIBUTION INFORMATION
Item 1. Distribution and Pool Performance Information.
The response to Item 1. is set forth in part herein and in
part in Exhibit 99.1. Introductory and explanatory information regarding
the material terms, parties and distributions described in Exhibit 99.1 is
included in the Prospectus Supplement, dated January 30, 2007, relating to the Callable
Class A-1 Certificates, Series 2007-1 (the Certificates) and the
related Prospectus, dated April 18, 2006 (collectively, the Prospectus),
of
Corporate Backed Callable Trust Certificates, J.C. Penney
Debenture-Backed
Series 2007-1 (the Issuing
Entity) filed with the Securities and Exchange Commission pursuant to Rule 424(b)(5) under
the Securities Act of 1933.
The Class A-1 Certificates were offered under the
Prospectus.
PART II - OTHER INFORMATION
ITEM 2 - LEGAL PROCEEDINGS
Nothing to report.
ITEM 3 - SALES OF SECURITIES AND USE OF PROCEEDS.
Nothing to report.
ITEM 4 - DEFAULTS UPON SENIOR SECURITIES.
Nothing to report.
ITEM 5 - SUBMISSION OF MATTERS TO A VOTE OF SECURITY
HOLDERS.
Nothing to report.
ITEM 6 - SIGNIFICANT OBLIGORS OF POOL ASSETS.
J.C. Penney Company, Inc., the guarantor 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 J.C. Penney Company, Inc. please see its periodic and
current reports filed with the Securities and Exchange Commission (the Commission)
under its Exchange Act file number, 001-15274. 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 J.C.
Penney Company, Inc. may be accessed on this site. You can request copies
of these documents, upon payment of a duplicating fee, by writing to the SEC.
The public may read and copy any materials filed with the Commission at the
Commissions Public Reference Room at 100 F Street, NE, Washington, DC
20549 on official business days between the hours of 10:00 a.m. and 3:00 p.m.
The public may obtain information on the operation of the Public Reference Room by
calling the Commission at 1-800-SEC-0330.
Please call the SEC at (800) SEC-0330 for further information on the
operation of the SECs public reference rooms. Neither Select Asset Inc. nor U.S. Bank
National Association (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 Select Asset Inc. 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 7 - SIGNIFICANT ENHANCEMENT PROVIDER INFORMATION.
Inapplicable.
ITEM 8 - OTHER INFORMATION.
Select
Asset Inc. (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 Registrants 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 Registrants affiliates and, accordingly, the Registrant
was unable to timely file this Current Report on Form 10-D.
ITEM 9 - EXHIBITS
(a) Documents filed as part of this report.
Exhibit 99.1 March 2, 2009 Semi-Annual Statement to
Certificateholders
(b) Exhibits required by Form 10-D and Item 601 of
Regulation S-K.
Exhibit 99.1 March 2, 2009 Semi-Annual Statement to
Certificateholders.
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SIGNATURES
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 upon the attached
Distribution Statement provided to it by the Trustee.
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DEPOSITOR
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SELECT
ASSET INC.
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Date:
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July 28, 2009
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By:
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/s/
William Fox
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Name:
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William
Fox
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Title:
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Chief
Financial Officer,
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Controller
and Vice President
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EXHIBIT INDEX
Exhibit Number
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Description
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Exhibit 99.1
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Distribution Statement
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5
Grafico Azioni Jcp CP CB CL TR Crts (NYSE:JBS)
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Da Giu 2024 a Lug 2024
Grafico Azioni Jcp CP CB CL TR Crts (NYSE:JBS)
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