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

Counselling psychology , Hypothetical case example: Allison is an 18 ye...

Hypothetical case example: Allison is an 18 year old female student is the first year of an undergraduate university degree. She shares a double room in the university dorm wit

Tort laws and the environment, Role of the Courts The role of the court...

Role of the Courts The role of the court system in Canada varies. Due to the numerous jurisdictions and different government levels involved, the courts are often asked to inte

Consideration - element of contract, Consideration - Element of Contract ...

Consideration - Element of Contract Just to an agreement to constitute a contract the common law of the England then adopted in the US, requires such, must be supported with c

Investigation of companys affairs, Investigation of Company's Membership: ...

Investigation of Company's Membership: Section (1) empowers the registrar to appoint one or   more competent inspectors to investigate and report on the membership of any comp

Powerpoint presentation on ethics-sustainability and culture, I will provid...

I will provide a cases from the media that have ethical implications. Please prepare a ppt presentation that: a) describes the issue/story (Clearly identify which case you ar

What are the disadvantages of delegated legislation, What are the disadvant...

What are the disadvantages of delegated legislation? Disadvantages of delegated legislation: • The delegated body that is responsible for the legislation is not represent

Illustrate the doctrine of judicial precedent, Illustrate the doctrine of j...

Illustrate the doctrine of judicial precedent? The doctrine of judicial precedent It states that higher court decision are binding on lower courts and like a result it i

What is volenti non fit injury, What is volenti non fit injury? Volen...

What is volenti non fit injury? Volenti: Consent specified by a claimant to the defendant is this implicitly, through explicitly or action to be negligent will not succee

International competition law, International Competition Law -  Select...

International Competition Law -  Select a specific industry or corporation and analyse the factors that determine a competitive or anticompetitive outcome; - Factors such a

Definition of an industrial dispute, Question 1: (A) What is an industr...

Question 1: (A) What is an industrial dispute and what are the elements involved in the definition of an industrial dispute? (B) What are the various options available to t

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