1 Do you think prohibiting phoenix activity by creating a phoenix offence, or a phoenix prohibition is likely to be successful? Why, or why not? 2. How could an offence or prohibition be structured?...

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1 Do you think prohibiting phoenix activity by creating a phoenix offence, or a phoenix prohibition is likely to be successful? Why, or why not?

2. How could an offence or prohibition be structured?

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Answered Same DayJan 02, 2022

Answer To: 1 Do you think prohibiting phoenix activity by creating a phoenix offence, or a phoenix prohibition...

Robert answered on Jan 02 2022
31 Votes
Business Laws
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Business Laws
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1.0 Introduction
It is the duty of the business organizations to follow ethical rules and policies. As per the report
of Business I
nsider (2015), most of the international organizations are engaged in different
unethical activities in order for protecting the assets and investment. In this paper, we are
analyzing the impact of phoenix activity on the business and various rules related to the Phoenix
offense. This paper also focused on the prohibition or legal restrictions on phoenix activity. We
know the fact that if the business organizations are not following the legal rules the government
has to introduce productive action plans for controlling the activities of companies
2.0 Body
1. Do you think prohibiting phoenix activity by creating a Phoenix offense, or a phoenix
prohibition is likely to be successful? Why, or why not?
In order for protecting the interest of stakeholders and shareholders, it is better to create a
Phoenix offense or a phoenix prohibition. According to the words of Thomas (2014), it is the
duty of the company to pay the money to the creditors at right time. Illegal phoenix activities
have to prohibit for protecting the interest of the creditors and employees. By creating a Phoenix
offense the government authorities can control the illegal phoenix activity ( Mack et al 2017). As
per the report of ASIC (2016), most of the directors are interested in illegal phoenix, because it
helps the directors to start another company and reduce the burden. Illegal phoenix activity
always creates problems to the shareholders and it will also affect the performance of creditors.
According to the words of Helen (2015), illegal phoenix activity only helps the directors and
they will take monetary advantage. Some companies considered phoenix activity as a productive
tool for managing the cost related to employee entitlements. We know the fact that employees
Business Laws
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are working in the organization for attaining their personal as well as professional objectives....
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