5 Debtor’s Statement of Affairs

Upon the making of a receiving order the debtor must attend a private interview to determine how the Estate should be administered and to receive instructions as to the preparation of his statement of affairs.  The debtor must submit his statement of affairs to the official receiver within 3 days of the receiving order if the order is made on the debtor’s own petition or within 14 days if the order is made on the creditor’s petition.  It may be extended by the court or official receiver on application of the debtor.  BA 16(1) BR 149 to 150.  The statement of affairs must be in the prescribed form verified by Affidavit and must show the following:

(a)          The particulars of assets, debts and liabilities;
(b)          The names, residences and occupations of the creditors;
(c)          The securities if any held by them respectively and the dates when they were given and
(d)          Such further or other information as may be prescribed or as the official receiver may require. 

Under Section 16(3) BA if the debtor fails without reasonable excuse to comply with these requirements, the court may on the application of the official receiver or of any creditor adjudge him bankrupt. 

Any person stating himself in writing to be a creditor of the bankrupt may personally or by agent inspect the statements of affairs at all reasonable times and take a copy thereof.  But if any person untruthfully states that he is a creditor, then he shall be guilty of contempt of court and be punished accordingly on the application of the trustee in bankruptcy or the official receiver.


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