Quote:
Originally Posted by jaysay
I've always though that was a load of crap, people being able to start a new business, whilst the company they once owned owes creditors oodles of cash, but I suppose that's why they open limited companies. I don't know what it costs now, but in the early 80s you could buy a shelf company for around £250
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The term used in business for this type of scam is that of a 'phoenix' company. I suppose this is the first time the eagle has risen from the ashes.