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.

The Insolvency Service Haven’t Got a Clue What Happened to this £50k Bounce Back Loan and a £25k Local Authority Business Grant, So Decide to Slap the Director with a 6 Year Disqualification

September 8, 2022

Here is another case of a Company Director with a Bounce Back Loan left unpaid, being given a 6-year ban for failing to maintain and/or preserve adequate accounting records or, in the alternative, failing to deliver accounting records to the Liquidator. […]

VAT and Skulduggery with a £35K Barclays Bounce Back Loan Sees a Company Director Hit with a Lenient 3 Year 6 Month Disqualification

September 8, 2022

A somewhat lenient disqualification, all things considered, has been handed out to the Company Director named below, who is now starting a 3-year 6-month ban, for the wrongdoing listed. […]

Insolvency Service Decide a 10 Year Disqualification is Suitable Punishment for a Company Director Who Over-Estimated Her Estimated Turnover to Get a £50k BBL When Only Entitled to a £27k BBL

September 7, 2022

Once again, the Insolvency Service have given out a long disqualification, in this case a 10 year one, to a Company Director who over-estimated her estimated Company turnover, even though she was allowed to estimate her turnover, to bag a bigger Bounce Back Loan than eligible for. […]

9 Year Disqualification for Over-Egging His Company’s Turnover to Bag a Large Bounce Back Loan from NatWest and Leaving it Unpaid at Liquidation

September 7, 2022

The British Business Bank Team are very busy at the minute, paying out a fortune in Guarantee Claims to banks that have requested their money back from BBL’s that have turned sour, such as the one in this case which was a NatWest issued one. […]

Company Director Uses a Lloyds Bank Bounce Back Loan to Pay Off a Personal Loan Against Her Property and Gets a 7 Year Disqualification for Leaving the BBL Unpaid at Liquidation

September 7, 2022

Bagging a BBL then getting a BBL top up and using it to pay off a personal loan taken out against her home was never a good idea, much more so when the BBL was never repaid, Having admitted such to the Liquidator, this Company Director is now starting a 7-year disqualification as punishment. […]