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.

Despite Being Able to Estimate His Business Turnover a Company Director Has Been Hit with an 8 Year Disqualification for Over-Estimating It When Applying for a Barclays Bounce Back Loan But He Did Use it for Personal Benefit

July 18, 2022

You are in for a slap if you overestimated your business turnover to get a Bounce Back Loan and used that BBL for personal benefit, then took the insolvency route with that loan still owing, and today’s case did see a Company Director get an 8-year ban for the reasons outlined. […]

HSBC and Starling Bank Approve and Pay Out a Bounce Back Loan Each to the Same Company Its Director Who Had Also Over-Egged the Turnover to Get Those BBL’s Gets a 10 Year Disqualification

July 18, 2022

Word has it, that Starling Bank and HSBC appear to be the two banks that have paid out the most duplicate Bounce Back Loans, of the 22,000 suspected duplicates, and today’s case, which is a common one, does seem to back that rumour up. […]

Barclays Paid Out a £46k BBL to a Company That Was Not Trading and Its Director Who Had Submitted Dormant Accounts for Three Years Ends Up with a 9 Year Disqualification for Blagging that BBL

July 18, 2022

A Company had an income of just £845 paid by the Director and even though he has submitted dormant accounts for three years, Barclays still paid out a £46k to the Company in today’s case, which resulted in a 9-year disqualification. […]

5 Year Disqualification for Company Director Who Did Not Use a Bounce Back Loan for the Benefit of the Business

July 18, 2022

One of the more lenient disqualifications to present to you today, which saw just a five year one being handed out to a Company Director who did not use a BBL for the benefit of the business. […]

Sole Trader Slapped with a 10 Year Bankruptcy Restrictions Order for Over-Egging His Turnover and Using His BBL for Personal Benefit

July 18, 2022

Whilst it may appear that it is Company Directors who are being hit with disqualifications when winding up their Companies with a BBL owing and wrongdoing comes to light, many Sole Traders have also taken the bankruptcy route thinking it’s a good way to get out of repaying their BBL. […]