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

Another Lenient 6 Year Ban Given to a Company Director for Not Supplying Accounting Records to Prove Where a Barclays £50k Bounce Back Loan Went, Which Was Left Unpaid at the Liquidation of His Business

April 21, 2023

The Company Director named in this case would have got a much longer disqualification had he supplied accounting records which proved he misused a BBL, however he didn’t supply any records so no one knows whether he did or not misuse it, and as such got a 6 Year ban instead. […]

The Disqualification Files

Having Secured Three Bounce Back Loans Worth £150k in Total From Barclays, Leaving Them Unpaid and Not Supplying Accounting Records to Show How the Funds Were Spent, a Company Director Gets a Lenient 6 Year Ban

April 21, 2023

Just a 6 year ban was given to the Company Director named in these cases, as a lack of accounting records meant no one was able to work out if the three BBL’s he secured for his businesses and were left unpaid were spent on the businesses. […]

The Disqualification Files

Here is Another Case of a Company Director Over-Estimating His Estimated Turnover to Blag a Bounce Back Loan Which Was Left Unpaid and as a Result He Is Now Starting a 9 Year Disqualification

April 20, 2023

Knowingly over-estimating your estimated turnover if you were permitted to estimate your Company turnover to get a larger Bounce Back Loan than eligible, will lead to a ban if such wrongdoing is uncovered at the liquidation of your business, as this Company Director has just discovered. […]