EX-25.2 10 h50753exv25w2.htm FORM T-1 STATEMENT OF ELIGIBLITY OF THE TRUSTEE (SUBORDINATED INDENTURE) exv25w2
 

Exhibit 25.2
 
 
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM T-1
STATEMENT OF ELIGIBILITY
UNDER THE TRUST INDENTURE ACT OF 1939 OF A
CORPORATION DESIGNATED TO ACT AS TRUSTEE
 
        CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE PURSUANT TO SECTION 305(b) (2)
WELLS FARGO BANK, NATIONAL ASSOCIATION
(Exact name of trustee as specified in its charter)
     
A National Banking Association
(Jurisdiction of incorporation or
organization if not a U.S. national bank) 		  94-1347393
(I.R.S. Employer
Identification No.)
     
101 North Phillips Avenue
Sioux Falls, South Dakota
(Address of principal executive offices) 		   
57104
(Zip code)
Wells Fargo & Company
Law Department, Trust Section
MAC N9305-175
Sixth Street and Marquette Avenue, 17th Floor
Minneapolis, Minnesota 55479
(612) 667-4608
(Name, address and telephone number of agent for service)
 
Champion Enterprises, Inc.
(Exact name of obligor as specified in its charter)
     
Michigan
(State or other jurisdiction of
incorporation or organization) 		  38-2743168
(I.R.S. Employer
Identification No.)
     
2701 Cambridge Court, Suite 300
Auburn Hills, MI
(Address of principal executive offices) 		   
48326
(Zip code)
 
Subordinated Debt Securities
(Title of the indenture securities)
 
 

 

 

Item 1. General Information. Furnish the following information as to the trustee:
     
(a)
  Name and address of each examining or supervising authority to which it is subject.
 
    
 
  Comptroller of the Currency
Treasury Department
Washington, D.C.
 
    
 
  Federal Deposit Insurance Corporation
Washington, D.C.
 
    
 
  Federal Reserve Bank of San Francisco
San Francisco, California 94120
 
    
(b)
  Whether it is authorized to exercise corporate trust powers.
 
    
 
  The trustee is authorized to exercise corporate trust powers.
Item 2. Affiliations with Obligor. If the obligor is an affiliate of the trustee, describe each such affiliation.
None with respect to the trustee.
No responses are included for Items 3-14 of this Form T-1 because the obligor is not in default as provided under Item 13.
Item 15. Foreign Trustee.      Not applicable.
16. List of Exhibits.      List below all exhibits filed as a part of this Statement of Eligibility.
     
Exhibit 1.
  A copy of the Articles of Association of the trustee now in effect.*
 
    
Exhibit 2.
  A copy of the Comptroller of the Currency Certificate of Corporate Existence and Fiduciary Powers for Wells Fargo Bank, National Association, dated February 4, 2004.**
 
    
Exhibit 3.
  See Exhibit 2
 
    
Exhibit 4.
  Copy of By-laws of the trustee as now in effect.***
 
    
Exhibit 5.
  Not applicable.
 
    
Exhibit 6.
  The consent of the trustee required by Section 321(b) of the Act.
 
    
Exhibit 7.
  A copy of the latest report of condition of the trustee published pursuant to law or the requirements of its supervising or examining authority.
 
    
Exhibit 8.
  Not applicable.
 
    
Exhibit 9.
  Not applicable.

 

 

*     Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as exhibit 25 to the Form S-4 dated December 30, 2005 of file number 333-130784-06.
**   Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as exhibit 25 to the Form T-3 dated March 3, 2004 of file number 022-28721.
*** Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as exhibit 25 to the Form S-4 dated May 26, 2005 of file number 333-125274.

 

 

SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the trustee, Wells Fargo Bank, National Association, a national banking association organized and existing under the laws of the United States of America, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of Minneapolis and State of Minnesota on the 26th day of October, 2007.
         
  WELLS FARGO BANK, NATIONAL ASSOCIATION
 		  
  /s/ Lynn M. Steiner    
  Lynn M. Steiner   
  Vice President   

 

 

EXHIBIT 6
October 26, 2007
Securities and Exchange Commission
Washington, D.C. 20549
Gentlemen:
In accordance with Section 321(b) of the Trust Indenture Act of 1939, as amended, the undersigned hereby consents that reports of examination of the undersigned made by Federal, State, Territorial, or District authorities authorized to make such examination may be furnished by such authorities to the Securities and Exchange Commission upon its request therefor.
         
  Very truly yours,

WELLS FARGO BANK, NATIONAL ASSOCIATION
 		  
  /s/ Lynn M. Steiner    
  Lynn M. Steiner   
  Vice President   
 

 

 

EXHIBIT 7
Consolidated Report of Condition of
Wells Fargo Bank National Association
of 101 North Phillips Avenue, Sioux Falls, SD 57104
And Foreign and Domestic Subsidiaries,
at the close of business June 30, 2007, filed in accordance with 12 U.S.C. §161 for National Banks.
                 
            Dollar Amounts  
            In Millions  
ASSETS
                
Cash and balances due from depository institutions:
                
Noninterest-bearing balances and currency and coin
           $ 13,030  
Interest-bearing balances
             1,428  
Securities:
                
Held-to-maturity securities
             0  
Available-for-sale securities
             65,310  
Federal funds sold and securities purchased under agreements to resell:
                
Federal funds sold in domestic offices
             6,864  
Securities purchased under agreements to resell
             1,160  
Loans and lease financing receivables:
                
Loans and leases held for sale
             21,153  
Loans and leases, net of unearned income
     263,595          
LESS: Allowance for loan and lease losses
     2,526          
Loans and leases, net of unearned income and allowance
             261,069  
Trading Assets
             4,809  
Premises and fixed assets (including capitalized leases)
             4,197  
Other real estate owned
              754  
Investments in unconsolidated subsidiaries and associated companies
              402  
Intangible assets
                
Goodwill
             9,231  
Other intangible assets
             19,954  
Other assets
             19,363  
 
            
 
                
Total assets
           $ 428,724  
 
              
 
                
LIABILITIES
                
Deposits:
                
In domestic offices
           $ 263,665  
Noninterest-bearing
     70,876          
Interest-bearing
     192,789          
In foreign offices, Edge and Agreement subsidiaries, and IBFs
             48,659  
Noninterest-bearing
     6          
Interest-bearing
     48,653          
Federal funds purchased and securities sold under agreements to repurchase:
                
Federal funds purchased in domestic offices
             10,136  
Securities sold under agreements to repurchase
             6,375  

 

 

EXHIBIT 7
         
    Dollar Amounts  
    In Millions  
Trading liabilities
     2,695  
Other borrowed money
        
(includes mortgage indebtedness and obligations under capitalized leases)
     27,804  
Subordinated notes and debentures
     10,140  
Other liabilities
     20,533  
 
      
 
        
Total liabilities
   $ 390,007  
 
        
Minority interest in consolidated subsidiaries
     62  
 
        
EQUITY CAPITAL
        
Perpetual preferred stock and related surplus
     0  
Common stock  
     520  
Surplus (exclude all surplus related to preferred stock)
     24,751  
Retained earnings
     13,469  
Accumulated other comprehensive income
     (85 )
Other equity capital components
     0  
 
      
 
        
Total equity capital
     38,655  
 
      
 
        
Total liabilities, minority interest, and equity capital
   $ 428,724  
I, Howard I. Atkins, EVP & CFO of the above-named bank do hereby declare that this Report of Condition has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true to the best of my knowledge and belief.
Howard I. Atkins
EVP & CFO
We, the undersigned directors, attest to the correctness of this Report of Condition and declare that it has been examined by us and to the best of our knowledge and belief has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true and correct.
     
Michael Loughlin
John Stumpf
   
Directors
Dave Hoyt