Statement of affairs requirement for a company to disclose sworn asset, liability and creditor priority details. A prescribed Statement of Affairs under section 274(1) requires a sworn account of a company's assets, liabilities and capital as at a specified date, with commissioner verification and annexed numbered lists and schedules. Assets must be segregated into those not specifically pledged and those specifically pledged with particulars of secured creditors and estimated realisable values. Liabilities are to be itemised by priority-secured, preferential, debenture-holders under floating charge, and unsecured-and a Deficiency or Surplus Account must explain items affecting surplus or deficit, supported by ledger references and dates.