The Disqualification Files

Insolvency Service Cannot Make Head Nor Tail of a Company’s Finances Including if a £30k NatWest BBL Was Used Legitimately So Slap Director With a 7 Year Disqualification

Today’s case shows you what happens if you put the Insolvency Service in a position whereby they cannot work out a businesses finances when its being wound up, and whether a Bounce Back Loan was legit. A seven-year disqualification was deemed a suitable punishment for this […]

The Disqualification Files

Starling Bank Pays Out a BBL and TopUp Worth £37,500 in Total to a Company With No Trading Income – Director Gets 9 Year Disqualification for Using Those Funds for the Benefit of Himself and/or Others

Not quite sure what Starling Bank were doing approving a BBL and Top Up worth £37.5k in total and paying it out to a business with no trading income, but hey ho, they are now left with another such loan that has gone sour, as Director of the company that got it took insolvency route after using those funds for personal benefit and/or the benefit of others. Here are the details. […]

The Disqualification Files

NatWest and Lloyds Kiss Goodbye to £100K of Bounce Back Loans as Two More Directors Take the Insolvency Route and Get Slapped with a 4 Year and 7 Year Disqualification

Having tracked hundreds of Bounce Back Loans that have gone sour due to company directors and the occasional sole trader taking the Insolvency/Bankruptcy route with one or more of those loans owing, there will always be a disqualification or BRO handed out to those who have been up to mischief when that “wrongdoing” is uncovered. Here are a couple of new cases that have just come to light regarding such. […]

The Disqualification Files

Another Company Director Hit with a 9 Year Disqualification As Insolvency Service Determines He Had Over-Egged His Turnover to Bag a £30k BBL and Used Most It For Personal Benefit

It must have dawned on Rishi Sunak by now that his Bounce Back Loan scheme is imploding, with over 100,000 of those loans being in arrears and over 37,000 of them being in default, and those figures are rising quite noticeably. Here is another case involving BBL wrongdoing which saw a Company Director hit with a 9-year […]