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.

Another 11 Year Disqualification Handed Out to a Company Director Who Took the Insolvency Route Having Over-Egged His Turnover to Get a £50k Metro Bank Bounce Back Loan

January 5, 2023

Was it worth blagging his turnover to secure a £50k Metro Bank Bounce Back Loan by over-egging his turnover, now that wrongdoing has come to light and the Company Director below has been given an 11 year disqualification, only he knows the answer to that question. […]

Transferring His Company’s £50k Lloyd’s Bank Bounce Back Loan to a Connected Company and Not Paying an HMRC Bill Rattles the Powers That Be So This Company Director Gets Slapped with a 5 Year Disqualification

January 5, 2023

The Disqualification handed out to this Company Director is rather modest in length, and once again proves just what a postcode lottery it is when it comes to Bounce Back Loans and Liquidating a Company when BBL wrongdoing comes to light. […]

Pulling the “Not Supplying Any Accounting Records” Trick Leads to a Much Shorter Disqualification Than Would Have Been Handed Out if Such Records Had Proven Bounce Back Loan Wrongdoing

January 5, 2023

Here are the finer points of why the Company Director named below walked off with just a 6 year disqualification, which would have been around double that length if he had supplied/kept/maintained accounting records which had proven BBL wrongdoing. […]

Company Director Given a Hefty 12 Year Disqualification for Bagging Two Bounce Back Loans One From Tide and One From HSBC for His Single Company Which Had a Turnover of Just £120

January 3, 2023

Just when you thought you had heard and seen it all about dodgy Bounce Back Loans, along comes this case, which has resulted in the Company Director named being given a 12 year disqualification. […]

10 Year Disqualification for Bagging a £50k NatWest Bounce Back Loan for a Company Incorporated in April 2020 and Using the Money for “Crypto Investment”, Among Other Things

January 3, 2023

I hope you had a peaceful Christmas and New Year, and things improve this year for those of you suffering right now. Here is a case of a wayward NatWest issued Bounce Back Loan that resulted in the Company Director named being given a 10 year disqualification. […]