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Quantifying Phoenix Activity: Incidence, Cost, Enforcement

160 Pages Posted: 23 Oct 2015 Last revised: 12 Jul 2016

Helen L. Anderson

Melbourne Law School

Ann O'Connell

University of Melbourne - Law School

Ian Ramsay

Melbourne Law School - University of Melbourne

Michelle Anne Welsh

Monash Business School

Hannah Withers

Melbourne Law School

Date Written: October 23, 2015

Abstract

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 (which forms part of a larger research project) is to capture all available data relating to the incidence, cost and enforcement of laws dealing with illegal phoenix activity. The report (1) provides background information on the regulators and other enforcement agencies dealing with illegal phoenix activity; (2) provides data about the incidence, cost and enforcement of laws dealing with illegal phoenix activity including data collated and tabulated by the researchers from publicly-available sources and data obtained directly from regulators which is not otherwise available to the public; (3) highlights the disparity of information obtained from different sources; and (4) encourages the government to put in place better data-gathering mechanisms.

Suggested Citation

Anderson, Helen L. and O'Connell, Ann and Ramsay, Ian and Welsh, Michelle Anne and Withers, Hannah, Quantifying Phoenix Activity: Incidence, Cost, Enforcement (October 23, 2015). U of Melbourne Legal Studies Research Paper. Available at SSRN: https://ssrn.com/abstract=2677081 or http://dx.doi.org/10.2139/ssrn.2677081

Helen L. Anderson

Melbourne Law School ( email )

University of Melbourne
Melbourne, 3010
Australia
+61 3 90355467 (Phone)

Ann O'Connell

University of Melbourne - Law School ( email )

University Square
185 Pelham Street, Carlton
Victoria, Victoria 3010
Australia

Ian Ramsay (Contact Author)

Melbourne Law School - University of Melbourne ( email )

University Square
185 Pelham Street, Carlton
Victoria, Victoria 3010
Australia
+61 3 8344 5332 (Phone)

HOME PAGE: http://law.unimelb.edu.au/about/staff/ian-ramsay

Michelle Anne Welsh

Monash Business School ( email )

Wellington Road
Clayton, Victoria 3168
Australia

Hannah Withers

Melbourne Law School ( email )

University Square
185 Pelham Street, Carlton
Victoria, Victoria 3010
Australia

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