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.

Director Starting a 9 Year Disqualification for Over-Egging His Turnover to Get a £50k NatWest Bounce Back Loan

November 14, 2022

The Bounce Back Loan scheme did of course close to new applications a long time ago, however there is no let-up in the number of Directors who blagged one then took the insolvency route now being slapped with long disqualifications, when it is discovered they did wrong with those loans, in the case below that wrongdoing was over-egging turnover. […]

A Long 10 Year Ban Handed Out to Company Director That Over-Egged His Turnover to Get a £50k Barclays Bounce Back Loan

November 14, 2022

Even though some Company Directors that blagged a Bounce Back Loan get shorter disqualifications when their wrongdoing comes to light, it’s still something of a postcode lottery, for the chap named in the case below ended up with a 10 year ban for the wrongdoing uncovered at liquidation that being over-egging his turnover. […]

Having Blagged a £30k Bounce Back Loan from HSBC When Not Eligible for One and Having Transferred the Money to Herself a Company Director is Given a 9 Year Ban

November 14, 2022

Whilst there may be a case for leniency in the length of ban handed out or in fact whether a ban is given out at all in some circumstances when Bounce Back Loan wrongdoing has been uncovered, by blagging one when not eligible in the first place, that act of wrongdoing never going to result in sympathy, as the Company Director named below has discovered, as she now starts a 9 year ban. […]

Having Blagged a Bounce Back Loan When Not Eligible and Having Misused the Funds a Company Director is Given a 10 Year Ban

November 14, 2022

Using a Bounce Back Loan for personal benefit is often going to result in a slap in the form of a long disqualification when taking the insolvency route, as the following Director who just been given a 10 year ban discovered. […]

9 Year Bankruptcy Restriction Order for Blagging a BBL Top Up When Not Eligible and Paying Off a Loan to a Friend with the Money

November 12, 2022

We head over to Bristol today and take a look at why the following individual has just been slapped with a 9 year Bankruptcy Restrictions Order, which as you may have guess is related to a Bounce Back Loan. […]