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 Disqualification Files

Santander Lose Another £50k Bounce Back Loan as the Director of a Turkish Barber Shop in Newcastle Gets an 11 Year Disqualification for Over-Egging His Turnover

September 2, 2022

Even though Santander are snooping on their business customers accounts and forcing many of those customers to endure an “account review” to explain things that do not add up, here are the details of the case of one of their customers who is now starting an 11-year disqualification for over-egging their turnover to get a £50k BBL and left it unpaid at liquidation of their Company. […]

The Disqualification Files

Applying for and Getting a £50k Santander Bounce Back Loan By Over-Egging Turnover Results in a 5 Year Disqualification for a Company Director

August 31, 2022

Taking the Insolvency route knowing you over-egged the turnover of your business to get a Bounce Back Loan and leaving it unpaid will always results in a long disqualification, unless a sound reason for doing so is presented to the Insolvency Service, the Director named below however is currently starting a 5-year ban as no sound and well-balanced reason was put forth. […]