Edmonds Marshall McMahon

This Practice Note explains the criminal behaviour of asset stripping within companies, sometimes called ‘phoenixing’. It explains what phoenix companies are, the purpose behind asset stripping and the offences which might be committed by undertaking asset stripping. The Practice Note also explains which prosecuting authorities might commencing criminal prosecutions for asset stripping.

This Practice Note is archived and is no longer maintained. It explained how and why insolvency investigations are carried out and who undertakes them. It explains the statutory powers of the official receiver and the differences between a public and private examination.