The Disqualification Files Archives

6 Year Disqualification for Director Who Self Certified His Company Turnover Was £230k to Secure a £50k RBS Bounce Back Loan When In Fact the Turnover Was Around £5k

April 20, 2022

Here are the details of another Company Director that massively over-egged his Company turnover to bag a £50k BBL from RBS and then used that loan for among other things, personal use. […]

Using £5k of a £50k Lloyds Bank Bounce Back Loan for a Personal Mortgage Payment at the Halifax and Paying £45k To Himself Having Over-Egged His Turnover in the First Place When Applying for that BBL Results in a Company Director Getting a 9 Year Disqualification

April 19, 2022

Overstating the turnover of a business to get a Bounce Back Loan and using any of that loan for personal benefit is always going to see the Insolvency Service getting rattled and handing out a long disqualification if that business ends up in liquidation. Today’s case ticks all of those boxes and saw a Company Director hit with a 9-year disqualification. […]

Yet Another £50k Bounce Back Loan Goes Bad with Two Company Directors Hit with 5 Year Disqualifications for Not Using That Loan for the Economic Benefit of Their Business

April 19, 2022

It is currently something of a lottery if you got a Bounce Back Loan, did not use it for the economic benefit of your business then took the insolvency route as to what you will be slapped with by the Insolvency Service. This case ended up with two five year disqualifications being handed out to the Company Directors named below. […]

Another Case of a Company Director Not Using a £50k Barclays Bounce Back Loan for the Benefit of His Business then Taking the Insolvency Route. This One Ended with a 6-Year Disqualification

April 19, 2022

It was a Barclays Bounce Back Loan that turned sour in this case, in which a Company Director ended up with a 6-year disqualification for the wrongdoing associated with that BBL that is outlined below. […]

A 4 Year and a 6 Year Disqualification for Not Using Two BBL’s for the Benefit of Those Businesses, and an 11 Year Disqualification for Massively Over-Egging “Estimated Turnover” Figure to Get a BBL

April 18, 2022

There does appear to be no consistency when it comes to the length of disqualifications handed out when a business owner takes the insolvency route with a Bounce Back Loan still owing, as today’s three cases will reveal. […]