Impact on businesses of phoenix activity, Business Law and Ethics

Q. Impact on businesses of phoenix activity?

In 1996 the Australian Securities Commission (ASC), published a report on phoenix activity titled Phoenix Activities and Insolvent Trading. In the report, it was estimated that phoenix activity cost businesses $0.67 to $1.3 billion per year or 0.13% to 0.28% of GDP. This estimate was based on a four step method drawing on ABS data and data gathered in a telephone survey that was conducted for the project.

Indexed to 2009/10, the impact of phoenix activity on businesses is estimated to be $0.99 to $1.93 billion per annum. It is recognised that the impact of phoenix activity on businesses is likely to have increased since 1996 due to the rise of phoenix activity and the spread of phoenix activity to higher turnover companies.

Posted Date: 8/5/2013 3:59:37 AM | Location : United States

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