September 2021 - Page 3 of 7 - Mr Bounce Back - Bounce Back Loan News - Updates

Director Over-Egged Turnover to Obtain a £50k BBL, Moved Funds to a Different Bank Account to Ringfence Them and Didn’t Disclose BBL at Liquidation – Upshot Is a 7 Year Disqualification

September 22, 2021

I have discovered a new term that I have not seen used before when it comes to the Insolvency Service explaining several reasons for slapping a Company Director with a disqualification, that being “ringfencing” Bounce Back Loan funds. That describes the act of moving funds from one bank account to another. […]

Lack of Records/Accounts Meant Liquidator Unable to Ascertain Whether a Bounce Back Loan Was Validly Obtained and Whether Those Funds Were Used for Benefit of a Business – Director Hit With 8 Year Disqualification

September 21, 2021

As many people battle to keep their businesses trading right now, many have decided they have no other option but to close down. The number of businesses going bust and being liquidated is increasing, as too are the number of businesses doing so that had obtained a Bounce Back Loan. Today I bring you news of one […]

HSBC Snatches Back a £50k BBL, Closes Customers Account, Drags Feet Sending Them £54k Cheque for Remaining Funds, Customer Unable to Open Another Account and Cash Cheque – Ombudsman Happy and Says That Is Fair

September 20, 2021

If you are unhappy with the decision made regarding a complaint that you have sent in to the Financial Ombudsman Service you can ask for it to be reviewed, and when you do so it will be sent to an Ombudsman rather than a case handler to be determined. Today I look at one such case which saw a customer left with a cheque they couldn’t cash and a BBL snatched back. […]

I Have Received an Unreserved Apology for an Error Made by Government Lawyers Surrounding the Bounce Back Loan Scheme. Having Suffered Direct and Indirect Financial Loss I Am Now Seeking Compensation as Per (PSHO) Published Principles for Remedy

September 18, 2021

Another quick update as I have a very busy few days ahead. I received, from HM Treasury yesterday, an unreserved apology regarding an error made by Government Lawyers surrounding the legalisation on Bounce Back Loans, as you can see in the letter below. My next course of action is to seek compensation for both […]

Having Warned of the Dire Consequences of Naming Future Fund Recipients the British Business Bank Go Ahead and Do Just That. What Next, Forehead Tattoos for BBL Recipients?

September 17, 2021

Anyone that has ever requested from the British Business Bank the names of businesses that have received any type of Government backed loan such as a Bounce Back Loan, CBILs or even the names of businesses that have been awarded money from the Future Fund will have been refused that information and will have been told by them of the dangers of naming those businesses. So it was with surprise […]