Other Free Encyclopedias » Law Library - American Law and Legal Information » Free Legal Encyclopedia: Special power to Strategic Lawsuits against Public Participation

Statement of Affairs

bankruptcy

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.

User Comments

Your email address will be altered so spam harvesting bots can't read it easily.
Hide my email completely instead?

Cancel or