phoenix transaction
n.— «ASIC will target directors who bleed companies dry before moving on to a separate company. He said the practice, called “phoenix transactions,” was found among small and medium-sized companies but not listed companies.» —“ASIC targets insolvent trading” by Jeremy Roberts Australian Oct. 14, 2005. (source: Double-Tongued Dictionary)
Further reading
What if, instead of being an inanimate object, a dictionary were alive? That’s the idea behind a lavishly illustrated new children’s book called The Dictionary Story (Bookshop|Amazon) by Oliver Jeffers and Sam Winston. This is part of a...
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