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Q. Liability based definition of phoenix activity?
The definition used by Treasury, and used as a working definition for this project, focuses on the intent with which phoenix activity is undertaken. A strength of such a definition is that it distinguishes between honest behaviour and phoenix activity. Additionally, in not specifying how the corporate form is manipulated it would not need to be updated to keep pace with the evolution of phoenix activity. However, it is perhaps not useful in providing clarity for those with little familiarity with phoenix activity or corporate law.
State in brief about the term - Reputations Reputations can be defined as the actions an agent and expected to take. If he takes it up, he establishes his reputation or otherwi
Q. Liability based definition of phoenix activity? The definition used by Treasury, and used as a working definition for this project, focuses on the intent with which phoenix
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