Andrew Woosnam’s repeated business failures and asset extraction highlight how "phoenix" deals enable directors to evade debts while leaving creditors like HMRC out of pocket.
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Andrew Woosnam took millions from his recruitment firms before creditors, including HMRC, were left out of pocketCompanies revived in ‘phoenix’ deals more likely to fail, study findsFor three decades, the recruitment industry treated Andrew Woosnam well.Having learned his trade during the 1990s, he graduated to create his own firm at the turn of the millennium – which allowed him to bank millions of pounds in salary, dividends and loans and to buy assets including a grand house in Berkshire once owned by the comedians Dawn French and Lenny Henry. Continue reading...
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