Podcast Location:
Download it here [file size: 25.7 MB]
Categories:
Corporate & Commercial Law
Insolvency & Restructuring
CPD Points:
Up to 1 point. details »

Due to the difference in guidelines between the SRA and the Bar Standards Board, CPD points are awarded differently for Solicitors, Barristers and Legal Executives:

Regulated by the Solicitors Regulation Authority:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Regulated by the Bar Standards Board:
Listen and pass the quiz: Gain 1 accredited CPD point (60 minutes)

Regulated by ILEX:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Cost:
  • FREE
Length:
30 minutes of audio
(+ optional 5 minute online quiz)
Plays on Computer:
Yes Downloadable as MP3:    Yes
Contributor(s):
Course Aims:

This podcast aims to provide the listener with the background to what constitutes a "Phoenix Company", and where the issue derives from. The podcast aims to educate the listener about how a "Phoenix Company" comes into being, and to provide a complete account of the statutory framework governing this area of law. The podcast also aims to give the listener practical advice in dealing with potential breaches, and how the law in this context has been interpreted by recent cases.

Outcomes:
After completing the course you will:
  • Have knowledge of what a "Phoenix Company" is, and where the term originates from;
  • Understand the circumstances in which a "Phoenix Company" may arise;
  • Be aware of the statutory framework governing the use of company names;
  • Have knowledge of the potential sanctions if there is a breach of this statutory framework;
  • Be up to date with the recent case-law that has interpreted the statutory framework.
Level:
Specialist Difficulty: 5 of 5
Classification:
Legal Principles
Practical Guide
Sources and References:
  • Insolvency Act 1985;
  • Insolvency Act 1986;
  • Insolvency Rules 1986;
  • Companies Act 1985;
  • Companies Act 2006;
  • ESS Production Ltd v Sully [2005] EWCA Civ 554;
  • First Independent Factors & Finance Ltd v Mountford [2008] EWHC 835 (Ch);
  • Re Bonus Breaks [1991] BCC 546;
  • Hawkes v Cuddy; Neath Rugby Ltd, Re [2009] EWCA Civ 291;
  • R v Cole sub nom R v Cole, Lees and Birch [1998] 2 BCLC 234.

This podcast details the phenomenon of "Phoenix Companies" in the context of commercial insolvency and administration procedures. The podcast gives a full account of the statutory framework governing this area of the law, and the sanctions that Directors and Shadow Directors may be liable to in the event of non-compliance. Further, the podcast provides a detailed explanation of the exceptions found in the Insolvency Rules 1986.

Podcast Added 29/07/09

Section 252 of the Companies Act 1985 has been repealed by the Companies Act (Audit) Exemptions Regulations 2000. However, it is presumed that section 252(5) survives for the purposes of Insolvency Rule 4.230

Podcast last reviewed: 2011-09-26

Start this CPDcast Activity

© CPDcast.com