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

Over-Egged Turnover, Claiming Business Was Not in Difficulty When Applying for a Barclays BBL When it Was and Using the BBL for Personal Benefit Lands Company Director with a 9 Year Disqualification

October 8, 2021

There are many reasons why a Company Director could be slapped with a long disqualification when winding up their company, and they will if a Bounce Back Loan is involved and the Insolvency Service can prove wrongdoing with that loan, and here is the story of one Director slapped with a 9 year ban for several such wrongdoings. […]

The Disqualification Files

Insolvency Service Hands Out Another 6 Year Disqualification to Company Director For Using Most of a £42k Barclays Bounce Back Loan For Personal Benefit

October 5, 2021

It is now almost daily that at least one Company Director gets slapped with a disqualification due to supposed wrongdoing when there is a Bounce Back Loan involved in the liquidation of a company, and today I will give you an insight into one such case which also involves payments from the Job Retention Scheme. […]

The Disqualification Files

5 Year BRO for Indian Takeaway Owner Who Transferred a £50k BBL to a Family Member for No Apparent Reason – 8 Year BRO For Man Who Secured a £50K BBL for a Partnership That Had Ceased Treading Before the BBL Scheme Launched – Co-Directors Hit with a 7 Year Disqualification

October 2, 2021

A mix of Ltd Company Directors, Sole Traders and even those who do not own a business but who obtained a Bounce Back Loan are winding up their businesses or declaring bankruptcy and are being hit with disqualifications or BRO’s if the Insolvency Service determines skulduggery regarding […]

The Disqualification Files

7 Year Disqualification for failing to Maintain and/or Preserve Accounting Records Making it Impossible For the Insolvency Service to Verify if a Grant and Lloyds Bank BBL Were Used for Benefit of Company or if Turnover Was High Enough to Warrant a £20k BBL

September 30, 2021

As furlough comes to an end, it is sad to see the Government update their website today regarding their “Guide to Bankruptcy”, an indication of how things have progressed for many people over the last 18 months or so. Another Company Director faces a 7 year ban, this time for failing to keep accounting records to help the Insolvency Service determine where a Government Grant and Bounce Back Loan went. […]

The Disqualification Files

Insolvency Service Unable to Determine if a Starling Bank BBL Was Obtained Legitimately and Why Company Was Not Registered for VAT Given Director Applied for a £50K BBL Requiring a Minimum £200k Turnover – Upshot 7 Year Disqualification

September 29, 2021

Due to not keeping/preserving adequate accounting records has resulted in a Company Director being disqualified for 7 years, mainly due to the fact the Insolvency Service could not work out if a Starling Bank BBL was used for the benefit of the company, and they question why the company was not registered for VAT when a £50k BBL was obtained, with the turnover for that value loan having to be at least £200k. […]