Phoenix activity: systematic, wilful and cyclic liquidation
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Federation University of Australia
BULAW5915 Corporate Law (BULAW5915)
Added on 2020-02-23
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In such cases where the organization is unable to pay its debts and acts in such a manner where the equal access to the organizations assets are deliberately denied to the unsecured creditors, which could allow them to meet them unpaid debts, and where within a single year a new business is established in which the assets, whether partly or wholly, of the old business are used and is controlled by the same people who controlled the previous organization (Taylor David, 2014). Phoenix activities contain different practices, which are responsible for
Phoenix activity: systematic, wilful and cyclic liquidation
Federation University of Australia
BULAW5915 Corporate Law (BULAW5915)
Added on 2020-02-23
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