Turnbull Government announces reforms to address illegal phoenixing
- Published 21.09.2017
Phoenixing is the registering of a new company to take-over the failed or insolvent business of another company. While phoenix activity does not always involve illegal conduct, illegal phoenix activity has attracted significant media and public scrutiny – and rightly so. Illegal phoenix activity involves company directors deliberately trying to avoid paying liabilities such as taxation debts and employee entitlements.