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

Applying for and Getting a £50k NatWest Bounce Back Loan When His Company Was Not Trading on March 1st, 2020, and Hugely Over-Egging Turnover to Get That Loan Sees Company Director Hit with an 11 Year Disqualification

August 17, 2022

Not only did the Company Director named in this case apply for and get a Bounce Back Loan by over-egging the turnover of his Company that wasn’t eligible for the loan, but he also made no attempt to explain where the funds went and subsequently was slapped with an 11-year disqualification. […]

The Disqualification Files

9 Year Disqualification for Bounce Back Loan Wrongdoing Regarding a £50k Lloyds Bank BBL and Perhaps Putting “Fresh Air Concept” On His Accounts Which Investigator Uncovers is the Name of an Outdoor Adventures Sports Retailer in Canada Was Not the Best Idea

August 16, 2022

Yet again it has been discovered that another Company Director as shown in this case has permitted all manner of wrongdoing with regard to a £50k Lloyds Bank Bounce Back Loan, which explains his 9-year disqualification. […]

The Disqualification Files

10 Year Disqualification for NatWest £50k Bounce Back Loan Recipient Who Over-Egged Turnover and Used the Loan For Personal Benefit

August 16, 2022

Maybe some people thought that bagging a Bounce Back Loan by over-egging their turnover and using it for personal benefit would not come to light when taking the Insolvency route, but as this case proves, such wrongdoing often does come to light and ends up with a long disqualification, which by the way was 10 years regarding the Company Director in this case. […]

The Disqualification Files

A Couple More Co-Directors Get 6 Year Disqualifications for Getting a Barclays £50k Bounce Back Loan, Sharing it Out Between Themselves and Using it for Personal Benefit

August 15, 2022

I am getting the feeling, that the next set of BBL guarantee claims that will be announced next year, if they are not suppressed or delayed, will, if they include the claims put in by the bigger BBL lenders (the last lot of figures didn’t) will be off the scale, looking at cases such as this one and the similar ones coming to light. […]