ITEM 1. BUSINESS
Long Beach Acceptance Receivables Corp. is a wholly-owned bankruptcy-remote subsidiary of Long Beach Acceptance Corp. Long Beach Acceptance Auto Receivables Trust 2003-B (the "Trust") is a bankruptcy-remote Delaware Business Trust. The Trust was formed solely for the purpose of acquiring from Long Beach Acceptance Receivables Corp. certain motor vehicle retail installment sales contracts (the "Contracts") and interests in the automobiles underlying the contracts and securitizing the contracts through the issuance of debt securities (the "Notes"). Long Beach Acceptance Receivables Corp. and the Trust have no other assets other than the Contracts and in interest in the automobiles underlying the Contracts and proceeds thereof.
ITEM 2.
ITEM 2. PROPERTIES
Omitted
ITEM 3.
ITEM 3. LEGAL PROCEEDINGS
The Registrant knows of no material pending legal proceedings with respect to the Trust involving the Trust, Trustee, the Seller or the Servicer.
ITEM 4.
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
None
PART II
ITEM 5.
ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDER MATTERS
None
ITEM 6.
ITEM 6. SELECTED FINANCIAL DATA
Not Applicable
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 ACCOUNTING AND FINANCIAL DISCLOSURE
None
PART III
ITEM 10.
ITEM 10. DIRECTORS AND OFFICERS OF THE REGISTRANT
Not Applicable
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
ITEM 14.
ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES
Not Applicable
PART IV
Item 15.
Item 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM 8-K
(a) Th following is a list of documents filed as part of this Annual Report on Form 10-K:
EXHIBITS 99-1, 99-2, 99-3, 99-4 and 99-5
(b) The following reports on Form 8-K were filed during the last quarter of the period covered by this report.
Monthly Remittance Statement to the Certificateholders dated as of November 17, 2003 and filed with the Securities and Exchange Commission on Form 8-K on November 18, 2003
Monthly Remittance Statement to the Certificateholders dated as of December 15, 2003 and filed with the Securities and Exchange Commission on Form 8-K on December 15, 2003
Monthly Remittance Statement to the Certificateholders dated as of January 15, 2004 and filed with the Securities and Exchange Commission on Form 8-K on January 15, 2004
SIGNATURES
Pursuant to the requirements 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.
LONG BEACH ACCEPTANCE AUTO RECEIVABLES TRUST 2003-B
By: Long Beach Acceptance Corp., as Servicer
/s/ Michael J. Pankey - --------------------------------------- Michael J. Pankey Senior Vice President and Chief Financial Officer
Dated: March 30, 2004
EXHIBIT INDEX
99-1 Officer's Certification of Disclosure
99-2 Officer's Certificate
99-3 Report of Independent Accountants
99-4 Management's Assertion Concerning Compliance with USAP Minimum Servicing Standards
99-5 APPENDIX 1 Minimum Servicing Standards