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

Blagging a £50k Bounce Back Loan Off Barclays Bank by Over-Egging His Turnover and then Taking the Insolvency Route Results in Yet Another Company Director Being Slapped with a 10 Year Disqualification

January 6, 2023

It does of course take quite some time for the powers that be to work out whether any Company Director has committed any BBL related wrongdoing when taking the Insolvency Route, but if they do a long disqualification is often handed out, like the 10 year ban given to the Company Director named in this case. […]

The Disqualification Files

Not Repaying His Company’s Bounce Back Loan with the Proceedings of a Coronavirus Business Interruption Loan As Required by the Terms of that Scheme, Leads to a Company Director Being Hit with a 5 Year Disqualification

January 6, 2023

Not following the rules of the CBILs Scheme regarding paying off his Company’s Bounce Back Loan when later getting a Coronavirus Business Interruption Loan has resulted in the Director named below receiving a 5 year disqualification […]

The Disqualification Files

Claiming a Third Party Company Assisted in Applying for His Company’s Bounce Back Loan Using an Over-Egged Turnover Leads to an 11 Year Disqualification

January 5, 2023

I have spoken to a lot of people who enlisted the help of third party firms to help them apply for a Bounce Back Loan, and this case involves one such firm who it is alleged over-egged the turnover of the Company they helped get such a loan. Ultimately though the Director of the Company that got the BBL has been given an 11 year ban, for the reasons outlined. […]