The Disqualification Files

This section of the website looks in detail at everyone given a Director Ban or a Bankruptcy Restrictions Order for Bounce Back Loan related wrongdoing, along with full details of what each person did, and occasionally other wrongdoing that resulted in a defaulted BBL.

The Insolvency Service recently said: “We expect to see a reduction in Covid Scheme related outcomes during 25/26 as we work through the pool of Bounce Back Loan cases”.

They have also warned that a BBL must be repaid and if the money your company borrowed is not repaid; your company may be investigated by the Insolvency Service, even if it has been dissolved.

If we find there was misconduct in the use of the BBL, action may be taken against you and your company.

Types of misconduct can include, providing false information on loan application, the loan being used for personal benefit and/or dissolving your company to avoid repaying the loan

As a result of the misconduct your company could be wound up by the Court, you could be disqualified as a director, and a Court Order may be made for you to pay compensation.

Despite Not Having a Penny Piece in Turnover in 2019, a Company Director Managed to Blag a £50,000 Bounce Back Loan from NatWest, and for Doing So Is Slapped with an 8 Year Ban

October 5, 2023

Here is the background story of another wayward £50,000 NatWest Bounce Back Loan. […]

Having Told a Former Director of His Company to Blag a Bounce Back Loan from Starling Bank by Over-Egging the Business Turnover, a London Based Director is Today Starting an 8 Year Ban

October 4, 2023

The game was soon up for the Company Director named in this case for the reasons outlined, and he is today beginning an 8 year ban. […]

Director of Three Barbers Shops Over-Egged the Turnover of Each to Blag Three £50,000 BBLs from Lloyds Bank and Is Slapped with an 11 Year Ban – He Offers to Repay £9k in Total Over 3 Years the Liquidator Says It Would Be Uneconomical to Keep the Case Open for 3 Years

October 3, 2023

Here is an overview of this case involving three Lloyds Bank Bounce Back Loans and the resulting 11 Year Director Disqualification, along with the Liquidators comments. […]

Taking the Liquidation Route Proves to be the Undoing of a Company Director, As That Uncovers He Over-Egged His Turnover to Get a £33k Barclays BBL and Sent the Money to a Third Party – He is Today Beginning an 11 Year Ban With the Liquidator Abandoning Any Recovery Action on the Company Debts

October 3, 2023

The Liquidator in the following case, as you will see, decided it would prove too costly to try and recover any funds owed by the Company and therefore have abandoned attempting to do so. […]

11 Year Ban Slapped on Southampton Based Company Director for Over-Egging His Turnover to Get a £50k Bounce Back Loan, Transferring the Money to Himself Then Successfully, But Without Telling His Creditors, Dissolving His Company

October 3, 2023

I will let you know when I know whether the Company Director named in this case gets taken to court and possibly jailed for breaching Section 1006 of the Companies Act 2006 or whether the powers that be have decided it is not in the Public Interest to do so. […]