A mythologicalbird, said to be the only one of its kind, which lives for 500 years and then dies by burning to ashes on a pyre of its own making, ignited by the sun. It then arises anew from the ashes.
Anything that is reborn after apparently being destroyed.
To transfer assets from one company to another to dodge liability
Origin
From Old English and Old French fenix, from Medieval Latin phenix, from Latin phoenīx, from Ancient Greek φοῖνιξ, from Egyptian bnw. The grey heron was venerated at Heliopolis and associated in Egypt with the cyclical renewal of life because the bird rises in flight at dawn and migrates back every year in the flood season to inhabit the Nile waters.
Modern English dictionary
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