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 cause significant harm to creditors and others. In combating...

In May 2015 the Productivity Commission released its Draft Report ‘Business Set-up, Transfer and Closure'. This research note does not deal with the broad range of issues touched on by the Productivity Commission. Instead, it concentrates on those matters relating to corporate insolvency and...

Phoenix activity occurs where the business of a failed company is transferred to a second company and the second company's controllers are the same as the first company's controllers. Phoenix activity can be both legal as well as illegal, however regulators face difficulties delineating between...

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. The aim of this research report...

Various explanations have been advanced for why shareholder protection looks the way that it does. These explanations include varieties of capitalism, legal origins and various configurations of social interests. When compared with the United States and the United Kingdom, Australian corporate...

Phoenix activity is not inherently illegal but illegal phoenix activity is generally understood to be those actions, undertaken in the phoenix context, that breach laws because they involve wrongdoing. Because illegal phoenix activity continues to cause significant harm to creditors of...

In this paper the authors utilise leximetric analysis, which involves the numerical coding of the strength of formal legal protections, to document changes in the level of worker protection and shareholder protection in six countries (Australia, France, Germany, India, the United Kingdom and the...

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 has become a...

Recent studies that have measured the levels of shareholder protection in Australia and compared them internationally have highlighted the relative strength of Australian shareholder protection. However, the question as to why this is so remains unanswered. Theories suggest that the development...