Year: 2022

The Disqualification Files

Five More Sole Traders and One Individual Hit With Bankruptcy Restrictions Orders For Bounce Back Loan Wrongdoing Including One Who Blew His Playing the Lottery and One Who Wasn’t a Sole Trader at All

July 2, 2022

£193,000 spread over six Bounce Back Loans have been wasted by those named below, who, instead of using their loans for the economic benefit of their businesses, spent it playing the lottery, gambling or over-egged their turnover and one who was not even a sole trader. […]

BBL Complaints and Outcomes

Man Applies for a Standard Business Loan But Gets Given a CBILs by Mistake the Bank Fixes the Error and He Then Gets a BBL But Liquidator Complains the Bank Made Him Overstate His Turnover – Ombudsman Says Tough

July 1, 2022

This is one of those cases regarding a Bounce Back Loan complaint that the Ombudsman has just tossed aside and not upheld that you have to read several times before you get your head around the madness. So do feel free to read it and see what you think. Keep in mind it is the Liquidator who submitted the complaint.  […]

The Disqualification Files

6 Year Disqualification for Business Owner Who Claimed Accounting Records for His Business “Got Lost” Leaving Liquidator Unable to Discover Where Among Other Things an HSBC £17,225 Bounce Back Loan Went

July 1, 2022

As many of you will be aware, I am still waiting for the Insolvency Service to hopefully take me up on my invitation for them to appear in my series of  filmed Fireside Chats, but until they do here is another case that has resulted in a 6 year disqualification of a Company Director in which an HSBC Bounce Back Loan is no doubt heading for the Government Guarantee. […]

The Disqualification Files

A 5 Year and 6 Year Disqualification Handed Out to Two Company Directors Who Left a Lloyds Bank and Metro Bank Bounce Back Loan Owing at Liquidation and Using The Funds from Those Loans for Personal Benefit

June 29, 2022

Maybe one day in the future, someone, somewhere will realise that forcing businesses to close down and stop trading for long periods of time and filling people’s heads with stories of how they could die due to a nasty virus and telling them to apply for a Government backed business loan with very few questions asked and expecting some of those who got one of them not to act in ways they perhaps wouldn’t […]