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
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There are eight major planets, but more than a million minor ones, including asteroids. If you discover one, you get the honor of naming it. The Dictionary of Minor Planet Names includes minor planets named for rock bands, jazz musicians, poets, and...