The Disqualification Files

It won’t be long now until the big banks start putting in the guarantee claims for their Bounce Back Loans that have turned sour, and when that day arrives many eyebrows will be raised. They have not yet done so, probably to save them having to take […]

One of the small number of rules associated with the Bounce Back Loan scheme was that a business must have been trading on the 1st of March 2020. Taking the insolvency route after getting a BBL and submitting dormant accounts for that period is of course a big red flag for […]

Not one of the longest disqualifications handed out recently, but the Company Director named in today’s two BBL related cases is starting a seven-year disqualification for over-estimating the estimated turnover to get two BBLs and leaving both of those loans owing at liquidation. […]

The business owner in today’s case was discovered to have over-egged his turnover to secure a much larger valued Bounce Back Loan than eligible for and having taken the Insolvency route leaving that BBL unpaid it was decided that an 11 year disqualification would be a suitable “punishment”. […]

Another outrageous case today, involving a £20k Bounce Back Loan, that as you will see went to a Company Director whose Company had no turnover and wasn’t even trading, and his punishment was a 9-year disqualification. […]