Month: August 2022

The Disqualification Files

Not Using a Lloyds Bank Bounce Back Loan in its Entirety for the Benefit of His Business and Overstating His Turnover to Get that Loan Sees Director Slapped with a 6 Year Disqualification

August 2, 2022

Having incorporated his Company in 2019 the Company Director in today’s case would have been allowed to estimate his turnover, however he has just been slapped with a 6-year disqualification for overstating that estimated turnover and not using the BBL in full to benefit his Company. […]

The Disqualification Files

There Appears to a Noticeable Increase in Company Directors Not Delivering to the Liquidator Their Accounting Records in the Hope They Get a Lower Disqualification for Abusing the Bounce Back Loan Scheme

August 2, 2022

With some hefty disqualifications being handed on to those who take the Insolvency route with their LTD Companies when there is a Bounce Back Loan involved and wrongdoing is uncovered, I have seen quite a number of Directors fail to preserve and/or maintained adequate accounting records, or in the alternative, fail to deliver up adequate accounting records to the Liquidator  in the hope they get a lower ban. Here is a case in which a Director has just been given a 7 Year disqualification, and […]

The Disqualification Files

Director Gets Three Bounce Back Loans from HSBC For Three of His Companies Two Were Not Eligible and The Other Had Its Turnover Over-Stated. All Were Left Owing at Liquidation, and He Has Just Been Given a 12 Year Disqualification

August 1, 2022

I just know the guarantee claims that HSBC will eventually be putting in for Bounce Back Loans they paid out that have gone bad will be massive, much more so when I hear cases such as this one which saw a Company Director hit with a 12-year disqualification for blagging three BBL’s from them. […]