The Disqualification Files

In this section of the website you will discover over 2400 defaulted Bounce Back Loans, along with the Company and Directors / Sole Traders names, all of whom received some form of punishment (also revealed) as it was found each of them had abused the BBL scheme in one way or another. Grab a coffee, but please do not choke on it, as you read them, for some of the BBL associated skulduggery is quite shocking.

The Disqualification Files

Insolvency Service Use the “New Rule” To Hit Company Director With an 8 Year Ban For Over-Estimating His Turnover By Over 25% of the Permitted 25% Permitted by the BBL Scheme

May 18, 2022

Bagging a £33k Bounce Back Loan from NatWest by claiming his turnover was £133,000 when it was in fact £1,169 sees a Company Director given an 8-year ban for taking the insolvency route and leaving that BBL still owing. The turnover he used turned out to be for an associated company registered in another country. […]

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The Insolvency Service Officially State When Slapping Someone with an 8 Year Disqualification the Bizarre New Rule Imposed By BEIS (Led By the Shifty Kwasi Kwarteng) That Over-Estimating Your Turnover By Over 25% Of the Permitted 25% Turnover Figure Will Lead to a Slapping if You Take Insolvency Route with a BBL Owing Even If you Were Allowed to Estimate Your Turnover!

May 16, 2022

It’s a funny old world, and with the weird character that is Kwasi Kwarteng being the Minister in charge of BEIS (Department for Business, Energy and Industrial Strategy) anything is possible. In the first case I have come across, the Insolvency Service are now stating the “rule” no one knew of and which was not in place when the BBL scheme was live that over-estimating by more than 25% of even your estimated turnover when you applied for as BBL will lead to a good slapping, if you take the insolvency route with that BBL still owing. Whilst this is nothing new, as I revealed it back in December 2021 when the National Audit Office told me about it, it is the first time I have seen it used, as you will discover in the case below that saw a Company Director hit with an 8 year disqualification […]