In accordance with Paragraph 47(1) Schedule B1 of the Insolvency Act 1986, the directors of an insolvent company are bound to submit a Statement of Affairs to the insolvency office holders. The Statement of Affairs is a statutory document setting out the financial position of the company at the date of insolvency.
On 13 October 2009, the Statement of Affairs of Lehman Brothers Limited (in administration) ("LBL") was submitted to the Joint Administrators.