![]() It has been described as "one that arises amidst or from the disarray and demise of its predecessor." A phoenix company may be classified either "innocent"/"bona fide" or abusive. Unlike " bottom of the harbour" and similar schemes that strictly focus on asset stripping, the new company is set up as a legal successor, to trade in the same or similar trading activities as the former, and is able to present the appearance of "business as usual" to its customers. ![]() For companies named Phoenix, see Phoenix § Businesses.Ī phoenix company is a successful commercial entity which has emerged from the collapse of another through insolvency.
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