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

£50k Barclays Bounce Back Loan Goes Bad with Company Director Hit with a 9 Year Disqualification for BBL Related Wrongdoing

July 6, 2022

I have been told some interesting figures will be released this month by the British Business Bank which will shine a light on individual BBL lenders regarding the performance of their approved and gone sour Bounce Back Loans. Today however, here is another case in which a company director has been hit with a 9-year disqualification for BBL wrongdoing. […]

BBL Legal Advice
The Disqualification Files

Over-Egging Turnover and Using Most of a £36k Yorkshire Bank Bounce Back Loan for Personal Benefit Lands Company Director with a 7 Year Disqualification

July 5, 2022

Some business owners could estimate their turnover to get a Bounce Back Loan, but not the one in today’s case that had been trading for decades. Over-egging the turnover and using most of a BBL for personal benefit and leaving it owning at liquidation has seen him just receiving a 7-year disqualification. […]