While we are waiting for the next move from our NZ friends it may be a good time to check out Phoenix Activity in preparation for anything unsavoury that comes our way.Phoenix Activity"Phoenix activity occurs when the director(s) transfer assets from an indebted company into a new company and continue the business of the indebted company without paying consideration for the value of the transferred assets. Using that new company, the indebted company has resurrected through a different entity."From ASIC's perspective, the key characteristics of illegal phoenix activity involve circumstances where:A company fails and is unable to pay its debts;
Directors of that company act in a manner which intentionally denies unsecured creditors (usually small businesses and employees) equal access to that company’s assets in order to meet unpaid debts; and
Within some period of time soon after the failure of the initial company (usually within 12 months), a new company commences using some or all of the assets of the former business, and is controlled by parties related to either the management or directors of the previous entity.
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Last
80.5¢ |
Change
0.005(0.63%) |
Mkt cap ! $160.8M |
Open | High | Low | Value | Volume |
80.5¢ | 80.5¢ | 80.5¢ | $1.24K | 1.54K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 2531 | 79.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
89.0¢ | 2368 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 2531 | 0.790 |
1 | 16200 | 0.760 |
2 | 5573 | 0.740 |
1 | 1309 | 0.700 |
1 | 7246 | 0.690 |
Price($) | Vol. | No. |
---|---|---|
0.890 | 2368 | 1 |
0.910 | 20000 | 1 |
0.980 | 10000 | 1 |
1.000 | 1812 | 2 |
1.030 | 5500 | 1 |
Last trade - 11.02am 12/07/2024 (20 minute delay) ? |
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