Year: 2022

We all know some Bounce Back Loans were used to buy all manner of things for the personal benefit of business owners, and the one in todays case bought a motorbike and made cash withdrawals leaving his business’ BBL owing at liquidation and is now starting a 5 Year disqualification. […]

Why have just one Bounce Back Loan when you can blag two, must have been the mindset of the Co-Directors named in todays case, ultimately though for their BBL wrongdoing they have just both started eleven-year disqualifications. […]

The two main things that led to this Company Director being given an 11 Year disqualification was over-egging his turnover to get a Bounce Back Loan and using it for personal benefit. […]

Two Sole Traders have just been hit with 11 year and 10-year Bankruptcy Restrictions Orders for the wrongdoing highlighted. One of them did pay a thrid party for applying for his BBL, and that application it as discovered, did misrepresent his Business trading position. That is worrying as I have previously reported that some SME’s admit to being threatened and intimidated by third parties who initially approached them posing as an “accountant” or “broker” and offering to apply for a bounce back loan for them for a percentage of the loans value. […]

No explanation was given by the Company Director named in this case as to what he spent his Company’s Bounce Back Loan on, for that and other BBL wrongdoing he is just starting an 11 year disqualification. […]