The Disqualification Files Archives

Obtaining a BBL When Business Had Ceased Trading and Spending Two BBLs on Home Improvements and Gambling Lands Two People With 8 Year BRO’s

November 6, 2021

Another £150,000 in BBLs has been lost, this time due to one businessman obtaining a Bounce Back Loan when he had already ceased trading, and another obtained two BBLs to which he was not entitled and spent them on home improvements, gambling and living expenses. […]

Six Year Disqualification for Company Director for Failing to Provide Proof a Barclays Bounce Back Loan Was Used for the Benefit of the Business and Whether that Business Was Eligible for the Job Retention Scheme Grant It Received

November 3, 2021

The Insolvency Service will soon have to take on a lot more staff to deal with the avalanche of business insolvencies that will come their way moving forward, and reports are that there has been a massive jump in the number of businesses being wound up. Today’s case is yet another Company Director disqualification regarding BBL wrongdoing but also Job Retention Scheme Grant wrongdoing. […]

Insolvency Service Opens a Huge Can of Worms with Ruling on and Their Understanding of “Estimated Turnover” After Handing Company Co-Directors a 10 and 11 Year Disqualification Respectively for BBL Wrongdoing

November 1, 2021

Today’s case involves two Co-Directors hit with a 10 and 11 year disqualification, their joint business was incorporated in 2018, but an estimated turnover for 2019 was used to apply for a BBL, which the Insolvency Service appear to indicate was fine, based on their interpretation of the rules. However, the Insolvency Service put into question the whole aspect of the “estimated turnover” and when it should have been used, but they also indicate a “should have known it was lower” element. […]

Another Barclays Bank BBL Turns Sour Resulting in a 6 Year Disqualification for a Company Director Taking the Insolvency Route

October 28, 2021

I am hoping one day so to see a decline in Company Directors being hit with long disqualifications now that there is a legal route to take to challenge Bounce Back Loans, however until that day arrives here is another case in which a 6 Year disqualification has been handed out. […]

Over-Egging Turnover and Using Lloyds Bank BBL Funds for Personal Benefit Results in Another Company Director Being Hit with a 6 Year Disqualification

October 26, 2021

I do recall one of the bosses of Lloyds Bank being quite smug in a Commons Treasury Committee meeting and telling MPs firing questions at him about the BBL scheme, that due to his bank only accepting their own customers for Bounce Back Loans, and not opening up the scheme to new customers, the number of dodgy loans issued by his bank would be low, that has proven not to be the case. […]