First Day Declaration/ First Day Affidavit

A sworn declaration or affidavit submitted in conjunction with a debtor’s First Day Motions, and lays out the factual background of a chapter 11 debtor’s business history, financial affairs, and reasons for filing for bankruptcy relief. First Day Declarations are typically incorporated by reference into each First Day Motion submitted by a chapter 11 debtor.

First Day Declarations are usually submitted by a member of the debtor’s C-level management team or an outside consultant (often a Chief Restructuring Officer) employed by the debtor for the purpose of managing the debtor’s restructuring efforts.