Flammulina velutipes
This fungus is known commonly as the velvet shank. This is because the dark stem is covered in hairs giving it the appeaerance of velvet.
I have seen this fungus on elm, lime, horse chestnut and beech.
Little is known of the decay of this fungi. I have never seen it hollow wood.
The velvet shank is the main cause of the break up of dead elms after Dutch Elm Disease.
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