Australian court fires out first judgment under new anti-phoenixing law
Phoenix: an immortal bird in Greek mythology that rises from the ashes of its predecessor (Credit: Shutterstock.com/YuriyMazur)
A court in Australia has made the first ruling invoking anti-phoenixing laws introduced two years ago, in a case where a translation company’s assets were sold to an entity controlled by its sole director’s sister, minutes before a resolution to wind it up.
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