- Current report filing (8-K)

 

 

UNITED STATES
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): August 17, 2009

LL&E ROYALTY TRUST

(Exact name of Registrant as specified in its charter)

Texas		1-8518		76-6007940
(State or other jurisdiction of incorporation or organization)		(Commission File Number)		(I.R.S. Employer Identification No.)

The Bank of New York Mellon Trust Company, N.A., Trustee
Global Corporate Trust
919 Congress Avenue
Austin, Texas 78701

(Address of principal executive offices)

Registrant’s Telephone Number, including area code: [phone]

Not Applicable

(Former name, former address and former fiscal year, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below):

o      Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o      Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o      Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR240.14d-(b))

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

 

 

 

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ITEM 2.06. Material Impairments.

          On August 17, 2009 The Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee”) of LL&E Royalty Trust (the “Trust”), concluded that an impairment charge related to the Jay Field Property, in the full amount of the carrying value, is required under generally accepted accounting principles applicable to the Trust. The Trustee reached this conclusion in connection with the review and audit of the Trust’s financial statements required to be included in the Trust’s Form 10-K for the year ended December 31, 2008, based on the continuing shut-down of the Jay Field Property by its operator. The impairment charge in the full $1,705,100 carrying value of the asset was included in the amortization of royalty interest in the Trust Corpus, as this amount does not affect cash earnings.

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SIGNATURES

     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.

	LL&E Royalty Trust
	By:	The Bank of New York Mellon Trust Company, N.A., as Trustee
	By:	/s/ Mike Ulrich
		Name:	Mike Ulrich
		Title:	Vice President

Date: August 20, 2009

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