Structured Asset Trust Unit Repackagings (SATURNS) Series 2003-17 Trust To Liquidate Its Assets and Terminate
February 02 2006 - 5:39PM
Business Wire
Structured Asset Trust Unit Repackagings (SATURNS), AT&T Corp.
Debenture Backed Series 2003-17 Trust (the "Trust") (New York Stock
Exchange Ticker Symbol "HJD"), announced today that a "Trust Wind
Up Event" has occurred under the terms of the Trust Agreement
governing the Trust and that the Trust will liquidate its assets
and terminate. Settlement of a sale of the securities held by the
Trust is expected to occur on February 8, 2006, and a liquidation
distribution is expected to be made with respect to the Class A and
Class B Units of the Trust on February 8, 2006. The Trust Wind Up
Event and requirement for termination of the Trust arose after the
merger of AT&T Corp. with SBC Communications Inc. (now known as
AT&T Inc.), following which AT&T Corp. became a subsidiary
of AT&T Inc. Thereafter, AT&T Corp. withdrew from listing
on the New York Stock Exchange ("NYSE") certain outstanding NYSE
listed bonds of AT&T Corp. which had previously given rise to
reporting obligations for AT&T Corp. under the Securities
Exchange Act of 1934 (the "Exchange Act"). AT&T Corp.
subsequently terminated its reporting obligations under the
Exchange Act, and it is the stated intention of the parent of
AT&T Corp., AT&T Inc., not to provide financial reporting
information in relation to AT&T Corp. As a result, the
Depositor of the Trust would be unable to meet its Exchange Act
reporting obligations in relation to the Trust, which circumstance
constitutes a Trust Wind Up Event. -0- *T CUSIP: 80411H206 (Class
A) 80411HAA5 (Class B) Symbol: HJD *T
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