The purpose of the fourteen-day time limit is to ensure that creditors have sufficient opportunity to peruse the statement of affairs and to decide whether or not to oppose the application.
12.
Extremely tight schedules are required so that key milestones in preparing the Creditor Reports and Statements of Affairs are met, since any slippage would threaten to delay the entire asset sale process.
13.
These summonses were issued against bankrupt companies and directors of compulsorily wound-up companies for failure to submit statements of affairs to the Official Receiver, failure to keep proper books and records, and misconduct.
14.
Together with teams of special advisers provided by international accounting firms, the special managers are now putting together their final reports-- Statement of Affairs-- based on thorough loans reviews and classification of assets.
15.
In the case of the simultaneous surrender of a partnership estate and the private estate of a partner, a separate statement of affairs for each estate must be prepared ( see 20.1 ).
16.
For the first examination Coates prepared a statement of affairs claiming that his debt was only ?14 8s . 2d ., but his claimed principal asset was the lease " and goodwill " of the United Services College.
17.
The Master may, on receiving the statement of affairs, specially direct the applicant to have any property mentioned in it valued by a sworn appraiser or a person designated by the Master for this purpose ( s 4 ( 4 ) ).
18.
All the debts listed in the statement of affairs are deemed to be proved, subject to any amendments the court may make, except where a creditor objects to a listed debt, or the court rejects or requires the debt to be substantiated by evidence.
19.
In the court s view, in the absence of any provision in the Act or other authority providing a legal impediment to the same material facts being used more than once, there was no reason why the debtor could not reuse his previous statement of affairs.
20.
The procedure for applying for an administration order is based on an application, together with a prescribed statement of affairs, in which the debtor affirms on oath that the names of the creditors and the amounts owed to them, and all other statements or declarations made in the statement, are true.
