Year: 2021

The Disqualification Files

Insolvency Practitioner Warns Company Director His Business Appears Insolvent and Not to Do Anything to Worsen Position of Creditors – He Then Proceeds to Obtain a BBL and Uses it for Personal Benefit and Is Hit with a 7 Year Disqualification

November 29, 2021

Using a Bounce Back Loan for personal benefit and not for the benefit of the business has landed many a Company Director with a long disqualification when they then go on to wind-up their business, and today’s case involves a £50k BBL and a 7 year disqualification. On the 27 July 2020 […]

The Disqualification Files

Two More SME’s Hit with 5 and 7 Year BRO’s One for Overstating Turnover When Applying for a Bounce Back Loan and Both of Them for Not Using Those Loans for the Benefit of Their Businesses

November 26, 2021

There was certainly plenty of confusion surrounding the supposed rules of Bounce Back Loan scheme, however when taking the Insolvency or Bankruptcy route with a BBL still owing many people have been slapped with a BRO or a Disqualification. The reasons for that […]