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.

Not Repaying His Company’s CBILS As Required After Getting a Bounce Back Loan Sees a Company Director Given a 7 Year Disqualification

October 3, 2022

The rules of the CBILS Scheme and the BBL Scheme did state that anyone who got a BBL after getting a CBILS must repaying the latter, however this Company Director did not do so and has just been given a 7 year ban once the wrongdoing came to light after the liquidation of his Company. […]

Using a £50k Bounce Back Loan for His Own Personal Benefit and Leaving It Owing at Liquidation Leads to a Company Director Getting a Lenient 5 Year Disqualification

October 3, 2022

Just 5 years was the length of the ban given to the Company Director named in the case below, who was found to have used his Company’s Bounce Back Loan for his own benefit and not the benefit of the business. […]

Company Director Disqualified for 11 Years After Bagging a Barclays and a Starling Bank Bounce Back Loan for His One Single Company

October 3, 2022

The failure by the powers that be to have a system in place in the first few weeks of the BBL scheme that allowed lenders to see if a business had already got a Bounce Back Loan led to people like the Company Director below being able to bag two of them. He didn’t pay back either of them and is now starting an 11 year disqualification for his wrongdoing, […]

9 Year Bankruptcy Restrictions Order Given to a Sole Trader for Getting a Higher Valued Bounce Back Loan Than He Was Entitled To

October 3, 2022

Over-egging your business turnover to blag a bigger Bounce Back Loan than you were entitled was not uncommon, however taking the bankruptcy route as a Sole Trader and leaving […]

With No Accounting Records Delivered to the Liquidator There is No Telling Where This £35k NatWest Bounce Back Loan Went so the Company Director is Given a 7 Year Disqualification

September 30, 2022

There is certainly a pattern forming with some Company Directors who have taken the Insolvency route with a Bounce Back Loan left unpaid, of not delivering the accounting records of their Company to the Liquidator. That then leaves the powers that be often unable to determine whether a BBL was legitimately applied for and them also being unable to verify where the money went. When taking that stance, the ban they then ultimately are hit with is often lower in length than if they […]