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There are rules relating to the
setting up of a phoenix company ahead of or just after the
compulsory liquidation of the original company. Those rules
are similar to those which apply in a creditors voluntary
liquidation.
To read the rules on re-using the company
name - click here.
To read the rules regarding the acquisition of assets from
the failed company - click here.
The main difference between the
two types of liquidation procedure is the impact on a sale
of assets from the company to be liquidated to the successor
phoenix company.
We have considered already the
impact of section 127.
There are legitimate ways around
that section.
Take professional advice.
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