Todays News
Barclays Confirm That in Total They Approved 345,006 Bounce Back Loans Worth £10.818 billion That Were Subsequently Drawn Down
For those of you that like facts and figures, here […]
Year: 2022
The Disqualification Files
Using £5k of a £50k Lloyds Bank Bounce Back Loan for a Personal Mortgage Payment at the Halifax and Paying £45k To Himself Having Over-Egged His Turnover in the First Place When Applying for that BBL Results in a Company Director Getting a 9 Year Disqualification
Overstating the turnover of a business to get a Bounce Back Loan and using any of that loan for personal benefit is always going to see the Insolvency Service getting rattled and handing out a long disqualification if that business ends up in liquidation. Today’s case ticks all of those boxes and saw a Company Director hit with a 9-year disqualification. […]
The Disqualification Files
Yet Another £50k Bounce Back Loan Goes Bad with Two Company Directors Hit with 5 Year Disqualifications for Not Using That Loan for the Economic Benefit of Their Business
It is currently something of a lottery if you got a Bounce Back Loan, did not use it for the economic benefit of your business then took the insolvency route as to what you will be slapped with by the Insolvency Service. This case ended up with two five year disqualifications being handed out to the Company Directors named below. […]
The Disqualification Files
Another Case of a Company Director Not Using a £50k Barclays Bounce Back Loan for the Benefit of His Business then Taking the Insolvency Route. This One Ended with a 6-Year Disqualification
It was a Barclays Bounce Back Loan that turned sour in this case, in which a Company Director ended up with a 6-year disqualification for the wrongdoing associated with that BBL that is outlined below. […]
The Disqualification Files
A 4 Year and a 6 Year Disqualification for Not Using Two BBL’s for the Benefit of Those Businesses, and an 11 Year Disqualification for Massively Over-Egging “Estimated Turnover” Figure to Get a BBL
There does appear to be no consistency when it comes to the length of disqualifications handed out when a business owner takes the insolvency route with a Bounce Back Loan still owing, as today’s three cases will reveal. […]