Definition of statement of affairs in US English:

statement of affairs

noun

Finance
  • A legal document listing the assets and liabilities of a company or individual, typically produced when declaring bankruptcy.

    ‘he provided a statement of affairs showing that he had a negative net worth of $170,000’
    • ‘He said as part of the administration, the directors would have to provide their 'statement of affairs' within three months.’
    • ‘According to a directors' statement of affairs, the company owes creditors £5.6 million, despite raising £7.5 million in funding since its foundation in 1999.’
    • ‘At a creditors' meeting held in Carlow last week the directors' statement of affairs showed estimated realisable assets of €647,384.’
    • ‘It owes existing staff and former employees almost €400,000, according to the statement of affairs.’
    • ‘Mr Fielding is also listed as an unsecured creditor in the statement of affairs in the sum of £154,661.’
    • ‘The taxpayer must also complete a statement of affairs at the opening and closing dates of the investigation period.’
    • ‘The liquidator had revised the statement of affairs which cut the prospective payout to creditors from over 80p to 70p.’
    • ‘The Revenue can demand evidence (including documents) relating to any assets or liabilities referred to in the Statement of Affairs.’
    • ‘When you're trying to sort out your finances properly you need to complete a 'Statement of Affairs' to find out where your money is actually going.’
    • ‘According to the firm's statement of affairs, it had debts of almost £1.6 million.’