The Disqualification Files Archives

Two Company Directors Receive Four Year Disqualifications After Winding Up Their Separate Businesses Which Had Taken Out Bounce Back Loans

November 15, 2021

Compared to some cases I have seen recently, a four year disqualification is quite low, when a business owner winds up their Company and they have been found to have done some form of wrongdoing involving a Bounce Back Loan. […]

Three More Bounce Back Loans from NatWest, Barclays and Santander worth £120k Turn Sour with Three Company Directors Hit with Long Disqualifications for BBL Wrongdoing

November 8, 2021

As Rishi Sunak still refuses to address the many long term problems his Bounce Back Loan scheme has and will cause business owners, the Insolvency Service has uncovered more wrongdoing by three additional business owners who obtained one of those loans, in total those loans were worth some […]

Obtaining a BBL When Business Had Ceased Trading and Spending Two BBLs on Home Improvements and Gambling Lands Two People With 8 Year BRO’s

November 6, 2021

Another £150,000 in BBLs has been lost, this time due to one businessman obtaining a Bounce Back Loan when he had already ceased trading, and another obtained two BBLs to which he was not entitled and spent them on home improvements, gambling and living expenses. […]

Six Year Disqualification for Company Director for Failing to Provide Proof a Barclays Bounce Back Loan Was Used for the Benefit of the Business and Whether that Business Was Eligible for the Job Retention Scheme Grant It Received

November 3, 2021

The Insolvency Service will soon have to take on a lot more staff to deal with the avalanche of business insolvencies that will come their way moving forward, and reports are that there has been a massive jump in the number of businesses being wound up. Today’s case is yet another Company Director disqualification regarding BBL wrongdoing but also Job Retention Scheme Grant wrongdoing. […]

Insolvency Service Opens a Huge Can of Worms with Ruling on and Their Understanding of “Estimated Turnover” After Handing Company Co-Directors a 10 and 11 Year Disqualification Respectively for BBL Wrongdoing

November 1, 2021

Today’s case involves two Co-Directors hit with a 10 and 11 year disqualification, their joint business was incorporated in 2018, but an estimated turnover for 2019 was used to apply for a BBL, which the Insolvency Service appear to indicate was fine, based on their interpretation of the rules. However, the Insolvency Service put into question the whole aspect of the “estimated turnover” and when it should have been used, but they also indicate a “should have known it was lower” element. […]