Item 1. Business
The Registrant is a wholly-owned subsidiary of First Sierra Financial, Inc. recently formed solely for the purpose of acquiring from First Sierra Financial, Inc. certain leases (the "Leases") and interests in equipment underlying the leases (together the "Receivables") and securitizing the Receivables through the issuance of Certificates. As a bankruptcy remote entity, the Registrant's operations are restricted so that (a) it does not engage in business with, or incur liabilities to, any other entity which may bring bankruptcy proceedings against the Registrant and (b) the risk is diminished that it will be consolidated into the bankruptcy proceedings of any other entity. The Registrant has no other assets except the Receivables and proceeds thereof.
Item 2.
Item 2. Properties
None
Item 3.
Item 3. Legal Proceedings
None
Item 4.
Item 4. Submission to Matters to a Vote of Security Holders
None PART II
Item 5.
Item 5. Market for Registrants Common Equity and Related Stockholder Matters None
Item 6.
Item 6. Selected Financial Data
None
Item 7.
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations
Not Applicable
Item 8.
Item 8. Financial Statements and Supplemental Data
Not Applicable
Item 9.
Item 9. Change in and Disagreements on Account and Financial Disclosure
PART III
Item 10.
Item 10. Directors and Officers of the Registrant
The following individuals comprise the board of directors and the officers of the Registrant:
All Directors and officers hold office for the term of one year and until their successors are elected and qualified, subject to earlier termination by removal or resignation.
Item 11.
Item 11. Executive Compensation
Not Applicable
Item 12.
Item 12. Security Ownership of Certain Beneficial Owners and Management
Not Applicable
Item 13.
Item 13. Certain Relationships and Related Transactions
Not Applicable
PART IV
Item 14.
Item 14. Exhibits, Financial Statement Schedules, and Reports on Form 8-K
1. Servicer Reports for the payment periods ending June, July, August, September, October, November, December.
SIGNATURES
Pursuant to the requirement of Section 13 or 15(d) 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.
First Sierra Receivables II, Inc.
By: --------------------------------- Name: E.R. Gebhart Title: Vice President
Dated: December 31, 1996
Pursuant to the requirements of the Securities Exchange Act of 1938, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated:
By: --------------------------------- Title: President Name: Thomas J. Depping Date: December 31, 1996
By: --------------------------------- Title: Secretary Name: Sandy B. Ho Date: December 31, 1996
By: --------------------------------- Title: Vice President Name: E. Roger Gebhart Date: December 31, 1996
By: --------------------------------- Title: Director Name: Russell Strickland Date: December 31, 1996
By: --------------------------------- Title: Director Name: Cheryl Strickland Date: December 31, 1996
Supplemental Information: None
EXHIBIT INDEX
99.1 Servicer reports for the payment periods ending in June, July, August, September, October, November, December.