May 2022 - Mr Bounce Back - Bounce Back Loan News - Updates

Gobsmacking Case in Which an HSBC Customer Felt Ripped Off When a Branch Manager From That Bank Invested Funds from His Bounce Back Loan in Cryptocurrency and Won’t Give Him the Money Back – Ombudsman Decides Its Not the Banks Fault!

May 31, 2022

Just have a read of the following case, it will show you, if nothing else, just what strange things happened regarding the Bounce Back Loan scheme. Please do not choke on your coffee when reading it. […]

Response From The Information Commissioners Office After I Badgered Them For an Official Comment Regarding the Naming Of Everyone With a Bounce Back Loan and the Obvious Dangers Of Doing So

May 31, 2022

I took it upon myself to badger the Information Commissioners Office and remind them of the dangers of naming everyone with a Bounce Back Loan, whether they are repaying or not. […]

11 Year Disqualifications Handed Out to Company Directors for Blagging Two Bounce Back Loans One from Barclays and one from Paragon for Their One Single Company and For Not Declaring Their Business Was in Difficulty on the BBL Application Forms

May 31, 2022

The rules surrounding Bounce Back Loans were complicated for many people to get their heads around, and the British Business Bank, as you will see below, did make it clear on the 3rd of June 2020, that if you owned more than one eligible business you could apply for a BBL for each of them, that however is not what happened in today’s case which saw two Company Directors hit with an eleven year disqualification for bagging two BBLs for their one single Company. […]

Taking the Insolvency Route But Failing to Give the Liquidator Accounting Records Showing Among Other Things, Where a £50k NatWest Bounce Back Loan Went Sees a Company Director Hit with a 6 Year Disqualification

May 31, 2022

A 6-year disqualification has been handed out to the Company Director in the case outlined below, and as you will see a £50k NatWest Bounce Back Loan has now gone with that company. […]

HM Treasury Gave BlackRock Investment Management (UK) Ltd a £3m Indemnity to Cover the Risks of Them Being Liable to Third Party Claims For Their Engagement in the Design of the Bounce Back Loan Scheme

May 31, 2022

BlackRock Investment Management (UK) Ltd applied for and were subsequently awarded a contract to provide “specialist expertise to support the design of the Bounce Back Loan scheme”. Whilst the Bounce Back Loan scheme has proven […]