The pandemic has created a risk that some rogue firms have been able to embezzle large sums of money during the pandemic. There is a particular risk from so-called ‘phoenix’ companies, referring to the practice of individuals continuing the same trade after winding up a company, usually to avoid paying debts.58 The pandemic has presented companies with the opportunity to borrow more money from government through schemes such as Bounce Back Loans or Coronavirus Business Interruption Loans.59 And the temporary restrictions on insolvency action means that companies are able to continue building up debt for a longer period of time before action is taken. This means that a phoenix company might build up far larger debts than it would have been able to prior to the pandemic, before its directors liquidate the company.60