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.

Over-Egging Turnover to Get a NatWest Bounce Back Loan and Not Using it for the Benefit of the Business Sees Another Company Director Hit with an 11 Year Disqualification

August 8, 2022

An 11-year disqualification appears to be a common length of ban handed out these days for Bounce Back Loan wrongdoing, and here is another case which did result in such a ban being handed out. […]

7 Year Disqualification for Company Director Who Made Payments to Himself to the Detriment of HMRC and NatWest in Regard to a Bounce Back Loan

August 5, 2022

A rather long case for you to read through today, which ultimately saw a Company Director given a 7-year disqualification for all of the points laid out. […]

Getting a Bounce Back Loan for Each of His Four Companies By Massively Over-Egging Turnover Then Leaving Them Unpaid at Insolvency Sees Company Director Hit with an 11 Year Disqualification

August 4, 2022

Two Yorkshire Bank, one HSBC Bank and a TSB Bounce Back Loan totalling £200,000 have all turned sour and been left unpaid at liquidation in today’s case, which, due to the reasons outlined, including massively over-estimating turnover, resulted in a Company Director who applied for all four of them for his four businesses and left them unpaid at liquidation getting an 11-year disqualification […]

Very Lenient 4 Year Disqualification for Company Director Who Upon Liquidation of His Business Left Money Owning to HMRC and on a Bounce Back Loan and a Lot of the Company’s Cash Was Found to Have Been Gambled Away

August 4, 2022

Have a read of this case, as the outcome of a 4-year disqualification looks very lenient all things considered. […]

Over-Egging His Turnover Then Taking the Insolvency Route With a Santander Bounce Back Loan Owing Results in a 9 Year Disqualification

August 3, 2022

Those who took out a Bounce Back Loan and overstated their turnover and took the insolvency route are the easiest people to go after and find, and they really are waiting to have their collar felt so to speak, and this is another of those cases which saw a Company Director given a 9-year disqualification. […]