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.

With No Accounting Records Given to the Liquidator to Show How a Bounce Back Loan and Covid Support Grants Were Used, and Why He Approved Dormant Accounts When He Was Indeed Trading, a Company Director Gets Just a 6 Year Ban

April 12, 2023

Once again, this case proves not supplying accounting records to the Liquidator often results in a much shorter length of ban than would be doled out if BBL and other wrongdoing would have been proven by such records. The £50k HSBC BBL mentioned was not repaid. […]

For Transferring His Company’s Bounce Back Loan to a Connected Company to Buy Assets for That Company and Leaving the BBL Unpaid, a Director is Given a 6 Year Ban

April 11, 2023

There is no let-up regarding the number of Company Directors who have taken the Insolvency route and have found to be guilty of wrongdoing with a Bounce Back Loan, and as you will see from this case, the powers that be decided a 6 year ban was the suitable punishment for the named Directors’ wrongdoing. […]

10 Year Disqualification For Over-Egging His Business Turnover to Blag a BBL from Barclays and Using the Money to Benefit Himself and Not His Company

April 11, 2023

It really doesn’t take very long for a Liquidator to work out whether someone is guilty of wrongdoing when winding up a business, and if they do, as in this case, if it relates to a Bounce Back Loan, then a long disqualification for the Company Director is forthcoming. […]

Even After Repaying His Company’s Bounce Back Loan in Full After All Manner of Wrongdoing a Company Director is Still Given an 8 Year Ban

April 10, 2023

Even after repaying his Company’s BBL in full, after getting it when not eligible, the Company Director named below is now starting an 8 year ban, for the reasons outlined. […]

For Blagging Two Bounce Back Loans, One from the Co-Op Bank and One From Starling Bank Both of Which His Single Company Was Not Eligible For Sees a Company Director Hit With a 12 Year Ban

April 10, 2023

Here is the story behind the blagging of two Bounce Back Loans, both of which never got repaid. […]