The Insolvency Service Officially State When Slapping Someone with an 8 Year Disqualification the Bizarre New Rule Imposed By BEIS (Led By the Shifty Kwasi Kwarteng) That Over-Estimating Your Turnover By Over 25% Of the Permitted 25% Turnover Figure Will Lead to a Slapping if You Take Insolvency Route with a BBL Owing Even If you Were Allowed to Estimate Your Turnover!
It’s a funny old world, and with the weird character that is Kwasi Kwarteng being the Minister in charge of BEIS (Department for Business, Energy and Industrial Strategy) anything is possible. In the first case I have come across, the Insolvency Service are now stating the “rule” no one knew of and which was not in place when the BBL scheme was live that over-estimating by more than 25% of even your estimated turnover when you applied for as BBL will lead to a good slapping, if you take the insolvency route with that BBL still owing. Whilst this is nothing new, as I revealed it back in December 2021 when the National Audit Office told me about it, it is the first time I have seen it used, as you will discover in the case below that saw a Company Director hit with an 8 year disqualification […]
