Profiling Phoenix Activity: A New Taxonomy

Company and Securities Law Journal, Vol. 33, No. 2, pp. 133-137, 2015

7 Pages Posted: 3 Dec 2016

See all articles by Helen L. Anderson

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: March 31, 2015

Abstract

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 the two. To assist them with this process, the authors have prepared a detailed report on defining and profiling phoenix activity. This research note provides a brief summary of the report and profiles the characteristics of both legal and illegal phoenix activity. It identifies five categories of phoenix activity spanning the spectrum between a legitimate business rescue to complex illegal phoenix activity amounting to organised crime.

Keywords: Phoenix activity; insolvency

Suggested Citation

Anderson, Helen L. and O'Connell, Ann and Ramsay, Ian and Welsh, Michelle Anne and Withers, Hannah, Profiling Phoenix Activity: A New Taxonomy (March 31, 2015). Company and Securities Law Journal, Vol. 33, No. 2, pp. 133-137, 2015. Available at SSRN: https://ssrn.com/abstract=2879262

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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