Phoenix companies are used for the practice of carrying on the same business or trade through successive companies, each of which becomes insolvent and cannot pay its debts.
Defnyddir cwmnïau ffenics ar gyfer yr arfer o redeg yr un busnes neu fasnach drwy gwmnïau olynol, y mae pob un ohonynt yn mynd yn ansolfent ac yn methu â thalu ei ddyledion.