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

Insolvency Service Hits Company Director With a 6 Year Disqualification for Being Both Insolvent When Applying for a £15k BBL and Using £14,980 for Personal Benefit and Not the Benefit of the Business

September 23, 2021

The number of businesses defaulting on their Bounce Back Loans is increasing rapidly, but let’s face it they are going to continue to do so, unless Rishi listens to those offering alternative solutions, and brings out a few more options for those experiencing financial problems. Today I will give you an overview of the reasons why the Insolvency Service has just hit one Director with a 6 year disqualification, and much like all previous cases in my “Disqualification Files it involves a BBL. […]

The Disqualification Files

Director Over-Egged Turnover to Obtain a £50k BBL, Moved Funds to a Different Bank Account to Ringfence Them and Didn’t Disclose BBL at Liquidation – Upshot Is a 7 Year Disqualification

September 22, 2021

I have discovered a new term that I have not seen used before when it comes to the Insolvency Service explaining several reasons for slapping a Company Director with a disqualification, that being “ringfencing” Bounce Back Loan funds. That describes the act of moving funds from one bank account to another. […]

The Disqualification Files

Lack of Records/Accounts Meant Liquidator Unable to Ascertain Whether a Bounce Back Loan Was Validly Obtained and Whether Those Funds Were Used for Benefit of a Business – Director Hit With 8 Year Disqualification

September 21, 2021

As many people battle to keep their businesses trading right now, many have decided they have no other option but to close down. The number of businesses going bust and being liquidated is increasing, as too are the number of businesses doing so that had obtained a Bounce Back Loan. Today I bring you news of one […]

The Disqualification Files

Lack of Business Due to Lockdown and Mounting Debt Forced the Hand of a Company Director Who Applied for a £25k Santander BBL Which Was Then Used to Repay Personal Loans, the Upshot of Which Was a 6 Year Disqualification

September 14, 2021

Sadly, when it comes to the devastating effects of the pandemic, many business owners made decisions that they now regret. Another 6 year disqualification has been announced this time concerning a businesswoman that used a £25,000 Bounce Back Loan from Santander for personal use. […]