statement of affairs

statement of affairs ˌstatement of afˈfairs noun statements of affairs PLURALFORM [countable] ACCOUNTING LAW
a document showing a company's assets and liabilities at a certain date. A statement of affairs is usually prepared when a company is about to go bankrupt

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statement of affairs UK US noun [C] (plural statements of affairs)
ACCOUNTING a list of a company's or person's assets and debts that is made if they go bankrupt: »

The statement of affairs must be verified by affidavit and delivered to the official receiver.

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Their statement of affairs showed a €2m deficiency.


Financial and business terms. 2012.

Look at other dictionaries:

  • statement of affairs — a debtor s statement in bankruptcy proceedings listing relevant information: see Insolvency Act 1986, Section 288. Collins dictionary of law. W. J. Stewart. 2001. statement of affairs …   Law dictionary

  • statement of affairs — The listing of a debtor s assets and liabilities and sworn under oath by the debtor before a lawyer or Commissioner for Taking Oaths. (Dictionary of Canadian Bankruptcy Terms) United Glossary of Bankruptcy Terms 2012 …   Glossary of Bankruptcy

  • statement of affairs — A statement showing the assets and liabilities of a person who is bankrupt or of a company in liquidation …   Accounting dictionary

  • statement of affairs — A statement showing the assets and liabilities of a person who is bankrupt or of a company in liquidation …   Big dictionary of business and management

  • statement of affairs — /ˌsteɪtmənt əv ə feəz/ noun a financial statement drawn up when a person is insolvent …   Dictionary of banking and finance

  • statement of affairs — Fin a statement, usually prepared by a receiver, in a prescribed form, showing the estimated financial position of a debtor or of a company which may be unable to meet its debts. It contains a summary of the debtor’s assets and liabilities. The… …   The ultimate business dictionary

  • statement of affairs — A filing required of a bankrupt, the purpose of which is to render information concerning the bankrupt s financial affairs available to the creditors and trustee in bankruptcy. 9 Am J2d Bankr § 380 …   Ballentine's law dictionary

  • statement of affairs — a statement for a financially embarrassed enterprise showing assets at book and realizable values and claims of creditors classified as preferred, secured, partly secured, and unsecured for the purpose of indicating probable amounts available to… …   Useful english dictionary

  • statement of affairs — review of activity, detail of financial situation …   English contemporary dictionary

  • Statement of Financial Affairs — Statement of Financial Af·fairs: a written statement filed by a debtor in bankruptcy that contains information regarding esp. financial records, location of any accounts, prior bankruptcy, and recent or current debt – called also statement of… …   Law dictionary

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