XKE Lehman Abs Corp. Corporate-Backed Trust Certificates: 7.75% Toys-R-US Debenture Backed Series 2001-31 (delisted)

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

Date of report (Date of earliest event reported): September 1, 2009

Lehman ABS Corporation, on behalf of:

 Delaware 001-31857 13-3447441
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(State or Other Jurisdiction (Commission File (I.R.S. Employer
 of Incorporation) Number) Identification No.)

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 CFR 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-2(b))

[_] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

The Corporate Backed Trust Certificates, Toys "R" Us Debenture-Backed Series 2001-31 Trust, which we refer to herein as the "Trust," was formed pursuant to the Standard Terms for Trust Agreements, dated as of January 16, 2001, between Lehman ABS Corporation, as depositor, and U.S. Bank Trust National Association, as trustee (the "Trustee"), as supplemented by the Series Supplement in respect of the Trust dated as of July 31, 2001.

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 and, accordingly, the Registrant was unable to timely file this Current Report on Form 8-K.

Item 8.01. OTHER EVENTS

On September 1, 2009, distribution was made to the holders of the certificates issued by the Trust. Specific information with respect to the distribution is filed as Exhibit 99.1 hereto.

No other reportable transactions or matters have occurred during the current reporting period.

Toys "R" Us, 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 Toys "R" Us, Inc. please see its periodic and current reports filed with the Securities and Exchange Commission (the "Commission") under Toys "R" Us, Inc.'s Exchange Act file number, 001-11609. 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 Toys "R" Us, Inc. 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.

Item 9.01. FINANCIAL STATEMENTS AND EXHIBITS

(d) The following exhibit is filed as part of this report:

99.1 Trustee's Distribution Statement to the Corporate Backed Trust Certificates, Toys "R" Us Debenture-Backed Series 2001-31 Certificate Holders for the period ending September 1, 2009.

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 information provided to it by the Trustee.

Date: October 1, 2009

Lehman ABS Corporation

By: /s/ William Fox
 ---------------------------
Name: William Fox
Title: Chief Financial Officer,
 Controller and Senior Vice
 President

EXHIBIT INDEX

99.1 Trustee's Distribution Statement to the Corporate Backed Trust Certificates, Toys "R" Us Debenture-Backed Series 2001-31 Certificate Holders for the period ending September 1, 2009

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