Year: 2021

The Disqualification Files

Company Director Blags Two £50k Bounce Back Loans for One Single Business and Along With His Failure to Keep and/or to Maintain Adequate Accounting Records Gets a 10 Year Disqualification

December 1, 2021

The rules of the Bounce Back Loan scheme stated that you could have as many BBL’s as you had eligible separate businesses, one for each business, as long as they were not part of a holding company at the top of the structure, in fact the record I am aware of is 36 BBLs to one multiple business owner. However, today’s case is regarding a Director who got two £50k BBLs for one single Business. […]

The Disqualification Files

Failing to Maintain and/or Deliver to the Liquidator Adequate Accounting Records to Prove Whether a Bounce Back Loan Was Used for the Benefit of a Business and Where Other Funds Went Lands Company Director with a 7 Year Disqualification

November 30, 2021

Many things will wind-up a liquidator, one of them being a business owner failing to keep and/or supply to them adequate accounting records, today’s case is one in which a 7 year disqualification has been handed out for those failings, and it does of course include a Bounce Back Loan, a Santander one […]

Premium Content

A Total of 65 People Have So Far Been Arrested for Alleged Government Backed Loan Fraud / Local Authority Grant Fraud with the Government Having Paid Out the Guarantee to Lenders on 155 BBLs and 113 CBILs “Suspected” Borrower Fraud Cases

November 29, 2021

Trying to make sense of who out and out defrauded the Bounce Back Loan and CBILs schemes, along with ripping off the Local Authority Business Grant schemes is going to take quite some time, however plenty of people have already been arrested for such crimes. So far a total of 65 people have been arrested for […]

The Disqualification Files

Settling a Personal Loan with the Proceeds of a Bounce Back Loan Amongst Other Things Leads to the Insolvency Service Handing Out a 7 Year Disqualification to a Company Director

November 29, 2021

You can expect a long disqualification if you are a Company Director and were found to have used a Bounce Back Loan for personal benefit and not the benefit of the business when winding up your business, the Director in today’s case was given a 7 year disqualification for among other things using a fair old chunk of a BBL to settle a personal loan. […]