STATEMENT OF AFFAIRS is a specialized form of financial statement setting out the debtor's assets and liabilities - secured, preferred and unsecured. This document is usually prepared on short notice and from incomplete records. It is sworn to by an officer of the company and or by the bankrupt where applicable. The trustee often has a different opinion as to the value of the assets and the extent of liabilities included therein. The formalized statement of affairs is sworn under oath by the debtor before a lawyer or designated legal/court entity.
Barry Goldsmith
| APA | Barry Goldsmith. (2010). statement of affairs. Retrieved September 24, 2026, from http://smartdefine.org/statement_of_affairs/definitions/1164121 |
| Chicago | Barry Goldsmith. 2010. "statement of affairs" http://smartdefine.org/statement_of_affairs/definitions/1164121 (accessed September 24, 2026). |
| Harvard | Barry Goldsmith 2010, statement of affairs, Smart Define, viewed 24 September, 2026, <http://smartdefine.org/statement_of_affairs/definitions/1164121>. |
| MLA | Barry Goldsmith. "statement of affairs" 21 October 2010. Web. 24 September 2026. <http://smartdefine.org/statement_of_affairs/definitions/1164121> |