Will CIB investigate so‑called Phoenix Companies?
Setting up a Phoenix Company – to carry on the same or similar business of an earlier company which has gone bust – is not wrong in itself, although if a company has gone into liquidation there are restrictions on the re-use of its name. However, CIB will consider investigating allegations of this nature where there are wider concerns about either the trading practices of the companies or the circumstances surrounding the failure of successive companies. We treat each case on its individual merits.
