The Disqualification Files

In this section of the website you will discover over 2700 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

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. […]

The Disqualification Files

Company Director Used a Lloyd’s Bank Bounce Back Loan to “Sustain Daily Living Costs” and Insolvency Service Disqualify Him for 6 Years Upon Liquidation of the Company

September 29, 2021

As we rattle through the months, I am seeing more and more Company Directors being hit with long disqualifications when winding up their companies when a Bounce Back Loan is involved when the Insolvency Service discover the funds from that loan were used for personal benefit and not the benefit of the business, here is another one, this time regarding a Lloyds Bank BBL. […]

The Disqualification Files

Company Director Applied for a Bounce Back Loan Top Up and Made Payments Benefiting Himself When He Should Have Known His Business Was Insolvent and Gets Hit With a 6 Year Disqualification

September 27, 2021

Today I present to you another first, that being the story of  a Company Director who got a 6 year disqualification for applying for a BBL Top Up (as opposed to just a BBL) and according to the Insolvency Service used it for personal benefit when he should have known or did know his business was insolvent. […]