March 2022 - Page 2 of 9 - Mr Bounce Back - Bounce Back Loan News - Updates

6 Year Disqualification for Company Director Who Took Out a £50k BBL and Made Payments Benefitting Himself or a Connected Company When He Should Have Known or Knew the Company Was Insolvent

March 30, 2022

There is no let up regarding the number of Company Directors being hit with disqualifications when they have been found to have done some form of wrongdoing with a BBL and here is another case which resulted in a 6-year disqualification. […]

Ombudsman Deems £150 Fair Compensation for a Metro Bank Customer that Had To Visit one of Their Branches to Open an Account to Access the BBL Scheme But Was Ultimately Declined and “Ushered Out of the Bank”

March 29, 2022

You may recall that Metro Bank were late to offer Bounce Back Loans, and they cited their state-of-the-art online application system that delayed things slightly as they wanted it to be “spot on” before making it live. That system repeatedly fell over and errors were reported. […]

A 9 Year Disqualification for Over-Egging Turnover to Get a £50k Metro Bank Bounce Back Loan and Using £49k of it for Personal Benefit

March 29, 2022

Another day and another Metro Bank Bounce Back Loan has turned sour, and as you will see in today’s case, a 9 year disqualification was deemed suitable punishment for a Company Direct that over-egged their business turnover to get a BBL and then spent most of it on personal benefit. […]

Belinda Knight an Ombudsman at the Financial Ombudsman Service Confirms It Is Not the Banks Job to Check What a Business Owner Spent Their Bounce Back Loan On

March 28, 2022

When compiling my facts, figures, and additional information regarding Bounce Back Loans I often stumble across plenty of little nuggets that some organisations associated with that scheme release. Take for example the case that is outlined in a recent Ombudsman ruling regarding an […]

Company Director Slapped with a 6 Year Disqualification for Using a Bounce Back Loan for Personal Benefit When They Should Have Known or Knew the Business Was Insolvent

March 28, 2022

A £50,000 Bounce Back Loan surrounds this case, which saw a Company Director hit with a 6-year disqualification for wrongdoing with that loan, including using it for personal benefit at a time they should have known or possibly knew the business was insolvent. […]