8-K

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                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549

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                                   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): May 26, 2006

                     Lehman ABS Corporation, on behalf of:

           CORPORATE BACKED TRUST CERTIFICATES, SERIES 2001-23 TRUST
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            (Exact Name of Registrant as Specified in Its Charter)

          Delaware                     001-31876               13-3447441
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(State or Other Jurisdiction       (Commission File          (I.R.S. Employer
     of Incorporation)                 Number)              Identification No.)

Lehman ABS Corporation
745 Seventh Avenue
New York, New York                                                 10019
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(Address of Principal Executive Offices)                         (Zip Code)


Registrant's telephone number, including area code: (212) 526-7000
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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))

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Item 8.01. OTHER EVENTS

Attached as Exhibit 99.1 please find a press release issued on May 26, 2006.




                                   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.

Date:  May 26, 2006

                                         Lehman ABS Corporation

                                         By: /s/ Charles M. Weaver
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                                         Name:  Charles M. Weaver
                                         Title: Senior Vice President




                                 EXHIBIT INDEX

Exhibit Number   Description
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      99.1       Press Release dated May 26, 2006

EX-99.1

                                                             Exhibit 99.1


                           Conditional Redemption of
                      Corporate Backed Trust Certificates
                             Series 2001-23 Trust

          Class A-1 Certificates (NYSE Listing CVI) CUSIP: 21988G692*
                   Class A-2 Certificates CUSIP: 21988G AV8*

NEWS RELEASE - IMMEDIATE - May 26, 2006:

     U.S. Bank Trust National Association, as Trustee, under the Standard
Terms for Trust Agreements dated as of January 16, 2001, as supplemented by
the Series Supplement dated as of June 1, 2001, as amended (the "Trust
Agreement") in respect of the Corporate Backed Trust Certificates, Series
2001-23 Trust (the "Trust") with Lehman ABS Corporation, as depositor,
received notice that the call warrant holder has exercised its right to
purchase the assets of the Trust on June 1, 2006 (the "Redemption Date").

     THE EXERCISE OF THE CALL WARRANTS IS CONDITIONAL UPON RECEIPT BY THE
TRUSTEE OF THE WARRANT EXERCISE CALL PRICE WITH RESPECT TO SUCH EXERCISE ON
THE REDEMPTION DATE. THERE CAN BE NO ASSURANCE THAT THE CALL WARRANTS WILL IN
FACT BE EXERCISED ON THE REDEMPTION DATE.

     If the Trustee receives the call price by 10:00 a.m. (New York City time)
on the Redemption Date, then the certificates issued by the Trust (the
"Certificates") will be redeemed in full on the Redemption Date at a price of
$25 principal per Class A-1 Certificate and $157.934604183214 principal per
$1,000 notional amount Class A-2 Certificate (the "Call Price"). The Class A-2
Certificates are principal-only certificates and will not receive payment of
interest. No interest will accrue on the Certificates after the Redemption
Date. If the Trustee does not receive the Call Price, then (i) the
Certificates issued by the Trust will continue to accrue interest as if no
exercise notice had been given and (ii) the call warrant holder may elect to
deliver a conditional notice of exercise in the future.

     This press release is being issued by U.S. Bank Trust National
Association as trustee of the Trust. For more information about this
conditional redemption, please contact David J. Kolibachuk of U.S. Bank Trust
National Association at 212-361-2459.