AvX full event spoilers below:
Hope was on the run from everybody.
Wolverine flew her to the moon and sold her out to the Avengers.
Avengers had a plan to blow up the Phoenix from the moon with a ridiculous mech suit
Phoenix instead split into five parts and took over "The Phoenix Five" which was Cyclops, Emma Frost, Namor, Colossus and Magik
The P5 were creating a utopia on earth, making it safe for mutant kind and generally righting wrongs and doing good by everybody.
In reality they were up to some real mean shit, like trapping Avengers in a "hell on earth" prison that Magik made and generally being agro and shit.
Namor attacked (Wakanda I think?) and got his ass kicked, dispersing his portion of the Phoenix power to the other 4 remaning P5 members.
Meanwhile Colossus and Magik got beat, I forgot how
Hope went with the Avengers to Karateland and learned how to Kung Fu punch motherfuckers to the moon, which she demonstrated on Cyclops.
Then in a final confrontation, Chuck Xavier (even though he had nothing to do with the entire event up til AvX 11 iirc), the rest of the Avengers and the X-Men that had seen the light about how the Phoenix was corrupting its hosts went to Utopia where Cyclops trying to get all of the Phoenix power choked out Emma then murdered Chuck.
In the final page of AvX Cyclops is the Dark Phoenix.
Haven't read spoilers for AvX 12, but they are in one of the last few pages of the September thread.
Did I miss anything?