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

Business Ethics, do u have this book (richard t degeorge business ethics)

do u have this book (richard t degeorge business ethics)

Characteristics of unincorporated associations, Characteristics of Unincorp...

Characteristics of Unincorporated Associations However these are associations of persons that who associate to promote a common and lawful purpose.  Thus now they have no lega

Matters and reports, Matters and Reports: The matters and reports to b...

Matters and Reports: The matters and reports to be stated in a prospectus may be summarised as follows: 1.      The Matters The matters to be stated in a prospectus are:

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

Methods of public issue, Methods of Public Issue: A company's authoris...

Methods of Public Issue: A company's authorised capital may be raised in one or the other of the following ways: a)      PLACING A 'placing' occurs if the company, inste

Contract, what is void contract

what is void contract

Explain issue of non-state actors, ISSUE OF NON-STATE ACTORS The concep...

ISSUE OF NON-STATE ACTORS The concept of Non-state actor is a recent political development, which has, so far, eluded a concise definition. There are no treaties or conventions

Advantages of stare decisis - flexibility, Advantages of Stare Decisis - ...

Advantages of Stare Decisis - Flexibility Since of the freedom that final Court of Appeal always has to depart from a previous decision of its own whether the social condi

Sense of urgency-entrepreneurship development, Sense of Urgenc: Entreprene...

Sense of Urgenc: Entrepreneurs have a never-ending sense of urgency to develop their ideas. Inactivity makes them impatient, tense, and uneasy. They thrive on activity and are tir

Analyse and discuss to minority shareholders, "Within a company there are m...

"Within a company there are many areas of potential disagreement among members. As the range of potential disagreement is very broad, so also is the scope for exploitation and abus

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