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6 Year Disqualification for Leaving Liquidator Unable to Determine if ATM and Over the Counter Cash Withdrawals of BBL Funds Were for Personal Benefit or for the Benefit of the Business and 9 Year Disqualification for Securing a BBL When Business Had Ceased Trading and Was Insolvent

Another two Bounce Back Loans worth a total of £80,000 have gone sour resulting in two business owners being slapped with a 6 and 9 year disqualification respectively. The reasons for those disqualifications follow the same pattern as many others, that being the business owners could not prove […]

More Scrutiny of BBLs

Government Commissions Company Employing Ex-Mi5 Head Jonathan Douglas Evans as An Advisor to Track Down Bounce Back Loan Wrongdoers – Read the Contract

Who would have thought when Rishi Sunak launched his Bounce Back Loan scheme along with the CBILS, CLBILS and Future Fund schemes, he would have to turn to a company that counts an ex-Director General of Mi5 on its payroll to try and sniff out potential fraudsters of those schemes, well that is what he is doing, and here is the contract awarded to that company. […]

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Capital on Tap Issued BBL Goes Sour with Company Director Hit with a 5 Year 6 Months Disqualification for Using His Bounce Back Loan Funds for Personal Benefit

Even though Capital on Tap decided that they would only offer Bounce Back Loans to their own customers, that hasn’t led to them being immune from those BBLs going sour, and here is an overview of one Company Director that has been hit with a 5 and a half year disqualification for among other things, using his BBL for personal benefit.   […]

BBL Loopholes

Lord Sikka Reveals Corrupt Insolvency Practitioners, Insolvency Service Problems, Companies House and Italian Mafia Bosses and Loopholes in the Supposed Loophole Closing Bill That Aims to Hit Company Directors Hard for Bounce Back Loan Wrongdoing

On the day the Coronavirus Act was extended, the “Rating (Coronavirus) and Directors Disqualification (Dissolved Companies) Bill” was up for debate in the House of Lords, and it turned out to be a somewhat lively and revealing debate with Lord Sikka letting rip and referencing, amongst other things the Italian Mafia and loopholes the Bill does not apparently close. […]

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Two Directors Hit with 6 and 7 Year Disqualifications for Failing to Satisfy the Insolvency Service That Their Santander and Barclays BBLs and Were Used for the Benefit of their Businesses After Winding Up Those Companies

The total number of Bounce Back Loans I have been tracking that have gone sour now stands at 48 with a combined total £1,707,914, as two more Directors have just been hit with 6 and 7 years disqualifications for not satisfying the Insolvency Service that their BBLs were used for the benefit of the business, here is an overview of those […]