Definition of phoenixism in English:

phoenixism

noun

British Business
  • The process or practice, widely regarded as unethical, whereby an insolvent company is placed by its directors into voluntary liquidation (thereby avoiding liabilities to creditors), and resumes trading soon afterwards under a different company name, frequently on the same premises and with the same workforce.

Origin

1980s; earliest use found in The Daily Telegraph. From phoenix + -ism.

Pronunciation

phoenixism

/ˈfiːnɪksɪz(ə)m/