Phoenix company

Okay, well, who did you sell them to? How much did you get for it? Where did the money go? And the further you dig, they sold it under value and they took the money themselves, right? They took the company's assets, the money just went straight to their personal bank accounts, and then we've had to pursue them personally to recover those monies that were rightfully the company's monies.

What's phoenixing? Phoenixing, so...

It's a buzzword at the moment and it's been around for a while.

But phoenixing is essentially where you sell a business sideways for undervalue.