Employers may sometimes deliberately choose to structure their business operations in a way that puts their assets beyond the reach of employee claims. The legally liable company may use liquidation to frustrate recovery action by the Fair Work Ombudsman. This article urges those engaged in law...

Australia is arguably in the midst of a legislative boom to improve recovery for creditors through the imposition of secondary liability. The aim is to overcome ‘sharp corporate practice' by imposing liability on an outside party for the default of a primary debtor. However, recent reforms are...

Phoenix activity occurs where the business of a failed company is transferred to a second (typically newly incorporated) company and the second company's controllers are the same as the first company's controllers. Phoenix activity can cause significant harm to creditors and others. In combating...

Illegal phoenix activity — the practice of liquidating or abandoning a company with the intention of avoiding its obligations and then continuing the same or a similar business via a new or related company — is estimated to cost the Australian economy up to $3.5 billion per year and appears...

Phoenix activity occurs where the business of a failed company is transferred to a second (typically newly incorporated) company and the second company's controllers are the same as the first company's controllers. Phoenix activity can be legal as well as illegal. Phoenix activity is illegal...

Illegal phoenix activity generally involves closing one debt-laden company and continuing its business through another company minus those debts. Its propensity to cause losses of federal revenue has recently been highlighted by the Australian Government Treasury announcement of a suite of...

The Australian Securities and Investments Commission and Australian Taxation Office are becoming increasingly concerned about the role that pre-insolvency advisors play in promoting illegal phoenix activity. Illegal phoenix activity occurs where the directors of a company liquidate or abandon...

Purpose: This study aims to contribute with an extended framework on synergy realisation in acquisitions. The study conceptualises synergy realisation after acquisitions, in interaction with other companies in a business network and that synergy can be the result of both intended and not...