Not all that far off 'phoenix'ing' as far as I am concerned,...

Not all that far off 'phoenix'ing' as far as I am concerned, very grey-lines...

'...This illegal practice usually happens when company directors abandon the company or transfer the business of an existing company to a new company without paying true or market value, leaving debts with the old company. Once the assets have been transferred, the old company is placed in liquidation or abandoned. If the liquidator is appointed, there are no assets to recover, which means creditors cannot be paid...'

Source: https://asic.gov.au/about-asic/contact-us/reporting-misconduct-to-asic/concerns-about-illegal-phoenix-activity/#:~:text=This%20illegal%20practice%20usually%20happens,placed%20in%20liquidation%20or%20abandoned..

Where's ASIC, tumbleweeds and dustbowls..??