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.

The Disqualification Files

With No Accounting Records Supplied and With BBL Bounty Hunters Not Willing to Touch the Case as the Director Has No Assets and Lives Abroad, a Company Director Gets a 9 Year Ban and Santander Claim on the BBL Guarantee

May 22, 2023

Another case for you to peruse, this one left the Liquidator puzzled as to whether the business was eligible for the Santander BBL he discovered it had got, which was not mentioned on the Statement of Affairs. No BBL Bounty Hunting type firm […]

The Disqualification Files

Having Used Over 80% of His Company’s Bounce Back Loan for Personal Benefit and Dissolving His Company a Director is Now Starting a 7 Year Ban and is Now on the Radar for Possible Court Action

May 20, 2023

With the new law now in place to round-up business owners who managed to dissolve their companies to get out of repaying their BBL’s before that law was passed, there is every chance the Company Director named in this case will be on the radar of the powers that be. “The Business Secretary will also be able to apply to the court for an order […]