John Towers (businessman) Industry Corporation (SAIC). Towers was heavily criticised for his role in the company's demise, and the Phoenix Consortium's conduct relating to Rover Group was initially referred to the Serious Fraud Office (SFO), although after initial investigations the SFO concluded that no further action would be taken. Following publication of a government report into the failure of MG Rover, Towers - along with the other directors of Phoenix - have been disqualified from holding any company office in the United Kingdom or have undertaken not to do so. Towers, together with the other members of PVH, ran MG Rover into the
Phoenix company Ombudsman. While there is economic cost associated with all phoenix activity, the underlying behaviour is not always illegal and this makes estimating the economic costs associated with illegal phoenix activity extremely difficult. Enforcement activity has been active under the "Corporations Act": The Fair Work Ombudsman has also investigated several high-profile cases: Phoenix company A phoenix company is a commercial entity which has emerged from the collapse of another through insolvency. Unlike "bottom of the harbour" and similar schemes that strictly focus on asset stripping, the new company is set up to trade in the same or similar trading activities as