Definitions of phoenix activity, Business Law and Ethics

Assignment Help:

phoenix activity involves "the evasion of tax and other liabilities, such as employee entitlements, through the deliberate, systematic and sometimes cyclic liquidation of related corporate trading entities". However, a range of other activities that can be considered deceptive are often referred to as phoenix activity.

Additionally, companies can liquidate and later honestly be revived. It is the recommendation of this report that the following definition of phoenix activity be used:

Phoenix activity is the deliberate and systematic liquidation of a corporate trading entity which occurs with the illegal or fraudulent intention to:

- avoid tax and other liabilities, such as employee entitlements

- continue the operation and profit taking of the business through another trading entity.

Liabilities may also include contractual or statutory obligations and civil or criminal proceedings.


Related Discussions:- Definitions of phoenix activity

w5 a2, describe what happends when a government agency proposes a rule.Pro...

describe what happends when a government agency proposes a rule.Provide recommendations to Crump for submitting responses to the EPA''s proposed rule. explained whether Crump shoul

What are the features of the omc process, What are the features of the OMC ...

What are the features of the OMC process Participation is also seen as a central feature of the OMC process, especially if it is to be extended beyond 'top-down' to encompass '

Law of agency - lawful rules, Law of Agency - Lawful Rules Though the ...

Law of Agency - Lawful Rules Though the law of agency prescribes the lawful rules to ascertaining as:           (a) How a person possibly will become an agent; and one is

What is the meaning of conciliation, (a) Section 63 of the Employment Rela...

(a) Section 63 of the Employment Relations Act provides as follows: "The parties to a labour dispute may jointly refer such dispute for voluntary arbitration to the Tribunal or

Rules of delivery of goods - sales of good, Rules of Delivery of Goods - Sa...

Rules of Delivery of Goods - Sales of Good So the rule regarding with delivery are like; (a)  The goods should be in a deliverable state and one is (b) Otherwise unless l

Sudanese company, Both Sudan and the US are signatories to the "New York Co...

Both Sudan and the US are signatories to the "New York Convention."  A Sudanese company has won its case in a Sudanese arbitration panel.  The U.S. company has declined to pay this

Describe the cole inquiry recommendation, Q. Describe the Cole Inquiry reco...

Q. Describe the Cole Inquiry recommendation? In 2003 the Cole Inquiry made a range of recommendations to reform the building and construction industry. The Inquiry found that t

Find out the ethical issues of the organization, Select a manufacturing org...

Select a manufacturing organization and find out the ethical issues of the organization in the following areas: Production: Marketing & sales: Human Resources & employee relatio

Perpetual succession, Perpetual Succession:                      Accor...

Perpetual Succession:                      According to the Concise Oxford Dictionary, "perpetual" means, inter alia, "applicable, valid, for ever or for indefinite time " wh

Decision making regarding treatment vs non-treatment, In relation to the ...

In relation to the scenario below, discuss relevant ethical and legal issues that relate to decision making regarding treatment vs non-treatment.   Please note , you are

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd