statement of affairs

Statement of Affairs

A document that must be filed in Bankruptcy, which sets forth answers to questions concerning the debtor's past and present financial situation.

The term statement of affairs is also used to describe a type of balance sheet that shows immediate liquidation amounts, as opposed to acquisition or original costs, and is generally prepared when insolvency or bankruptcy is about to take effect.

statement of affairs

a debtor's statement in bankruptcy proceedings listing relevant information as to assets and liabilities.
References in periodicals archive ?
A listing posted on the London Gazette states: "The purpose of the meeting is to consider the statement of affairs of the company, to appoint a liquidator and, if the creditors think fit, to appoint a liquidation committee.
Submitting a materially inaccurate statement of affairs.
In a statement, chairman Steve Byrne said: "Resolutions to be taken at the meetings may include a resolution specifying the terms on which the joint liquidators are to be remunerated and the meetings may receive information about, or be called upon to approve, the costs of preparing the statement of affairs and convening the meetings.
We understand that Purnells will be handling the liquidation of the organisation and providing a statement of affairs in due course.
It may be worthwhile to prepare a statement of affairs and cash flow statement on an annual basis.
A Draft Statement of Affairs for Challinors Solicitors (Partnership) drawn up by corporate recovery specialists KSA Group revealed the huge creditor list.
His statement of affairs clearly confirms that the transfer has occurred.
He noted two judgments for sums totalling more than [euro]20million had been entered against Mrs McCabe last year and she had failed to disclose the jewellery in her first statement of affairs.
6m, the directors' statement of affairs has revealed.
27 regarding Submission of Periodical Returns has also been amended under which MFBs shall henceforth submit their CRR and SLR statements along with bi-weekly (fortnightly) statement of affairs to Off-Site Supervision & Enforcement Department, State Bank of Pakistan.
Registrar Christine Derrett gave Pompey seven days to detail their financial situation in a statement of affairs to Her Majesty's Revenue and Customs, who have lodged a winding-up petition for the Premier League's bottom club over unpaid tax.
Serious ThePremierLeague'sbottom club have been given the time to produce a statement of affairs to HMRC to detail their exact financial position.
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