An article by the LFMI policy analyst Vytautas Žukauskas, published in the weekly „Atgimimas“, on deliberate company bankruptcies, the “phoenix syndrome“ (whereby company owners try to absolve themselves from liabilities by transferring assets to other, oftentimes newly established companies, leaving the original company all the debts), dishonesty of debtors and the reasons for such unwarrantable actions becoming more frequent, the limited civil liability of company managers and why, during recent years the number of newly established proprietorship companies has gone down quite significantly, in comparison with limited liability companies.
