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.

Applying for an HSBC Bounce Back Loan, Filing Dormant Accounts, Over-Estimating Estimated Income, Transferring the BBL to a Third Party Sees Company Director Hit with a 10 Year Disqualification

August 1, 2022

As of the 31st of March 2022, figures released by BEIS show that HSBC had not been paid out any BBL guarantee claims, however when they finally do they are going to be huge in number and value. Here is one claim they will no doubt be putting in soon. […]

Another 10 Year Disqualification Handed Out for BBL Wrongdoing, This One Being Over-Stating Turnover and Leaving the BBL Owing at Liquidation

August 1, 2022

Another Monday morning and another long disqualification has been handed out, this one being a 10 year disqualification given to a Company Director for over-stating business turnover to get a BBL. […]

TSB Bounce Back Loan Turns Sour and Company Director Slapped with an 11 Year Disqualification for BBL Wrongdoing

July 31, 2022

A total of 333 Bounce Back Loan guarantee claims have been paid out to TSB as of the end of March this year, and here is a case involving one of their BBL’s that saw a Company Director hit with an 11-year disqualification for wrongdoing associated with a BBL. […]

What’s The Current “Going Rate” For Taking The Personal Bankruptcy Route with a Bounce Back Loan Owing? Here Are Four More Individuals Who Did That and Have Just Been Hit with Bankruptcy Restrictions Orders After Abusing the BBL Scheme

July 30, 2022

These four not so bright sparks abused the Bounce Back Loan Scheme in the manner described, and whilst bagging a total of £170,894 collectively in BBL’s, after taking the bankruptcy route to try and get off paying them back, they have been hit with the respective Bankruptcy Restrictions Order. […]

Applying for a Bounce Back Loan Top Up From NatWest Weeks After His Business Ceased Trading and was Insolvent and Using Those Funds for Personal Benefit Lands Company Director with a 4 Year Disqualification

July 27, 2022

Bagging a Bounce Back Loan Top Up when his Company was insolvent and no longer trading and then using it for personal benefit was not the smartest move, as the Director in today’s case has just found out, as he starts his 4-year disqualification. […]