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

Company Director Hit With Disqualification For Over-Egging Their Turnover Which Would Have Been Hushed Up and Not Classed As Fraud If They Had Just Made Repayments According to a Barclays Boss

March 18, 2022

Whilst I put together the finer details of the project that I am working on with a bank boss regarding help and support for those struggling to repay their Bounce Back Loan, which I should have an update on very shortly, here is another case involving BBL wrongdoing which resulted in an 8-year disqualification. […]

The Disqualification Files

Lloyds Bank Wave Goodbye to a £30k Bounce Back Loan as Company Director Get a 5 Year Disqualification

March 14, 2022

Big day tomorrow, as I will be in the Palace of Westminster watching what is expected to be a highly charged committee meeting in which Lord Agnew, two British Business Bank “higher-ups” and a slew of bank bosses are being grilled about Covid Loan Fraud. Let’s hope they can all agree this time, but I doubt they will and it will end up being the usual arse covering exercise I have seen played out by each of them many times in the past. Until then here is another case in which a Company Director has just been hit with a 5-year ban for BBL wrongdoing. […]