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.

Company Director Over-Eggs Turnover to Get a £30k BBL and Uses Some of It For Personal Benefit Then Agrees to Repay All Sums Owed at Liquidation Over 49 Monthly Repayments Whilst Also Getting an 8 Year Disqualification

May 25, 2022

I have not seen an agreement reached with the Liquidator like the one in the following case, which saw a Company Director hit with an 8-year ban, but also agreeing to repay all funds owned including a Bounce Back Loan at the liquidation of his Company over 49 monthly payments. […]

Applying for a Bounce Back Loan from Barclays with an Estimated Turnover of £100,000 When It Was In Fact Zero and Using Most of the £25k BBL For Personal Benefit Sees Company Director Slapped with a 6 Year Disqualification When Taking the Insolvency Route

May 25, 2022

A Barclays Bounce Back Loan was left unpaid when the Company is todays case took the insolvency route, resulting in the Director being disqualified for a total of 6 years due to the highlighted wrongdoing. […]

8 Year Bankruptcy Restrictions Order Handed Out For Bagging a £48,000 BBL That He Was Not Eligible For and Using It To Gamble and Pay Off Debts to Private Lenders

May 25, 2022

Another £48k Bounce Back Loan has been lost in the case outlined below, in which someone applied for a BBL when not eligible, received it but then used it to pay off other private debts and gamble therefore not using it for the economic benefit of the business. […]

Using the Proceeds of a £30k Starling Bank Bounce Back Loan to Make Payments to Benefit Himself to the Detriment of His Company’s Creditors Sees a Company Director Slapped with a 4 Year Disqualification

May 20, 2022

A Starling Bank Bounce Back Loan is what today’s case revolves around in which a Company Director gets hit with a quite lenient 4 year disqualification for the wrongdoing highlighted. […]

Insolvency Service Use the “New Rule” To Hit Company Director With an 8 Year Ban For Over-Estimating His Turnover By Over 25% of the Permitted 25% Permitted by the BBL Scheme

May 18, 2022

Bagging a £33k Bounce Back Loan from NatWest by claiming his turnover was £133,000 when it was in fact £1,169 sees a Company Director given an 8-year ban for taking the insolvency route and leaving that BBL still owing. The turnover he used turned out to be for an associated company registered in another country. […]

The Disqualification Files

Company Director Over-Eggs Turnover to Get a £30k BBL and Uses Some of It For Personal Benefit Then Agrees to Repay All Sums Owed at Liquidation Over 49 Monthly Repayments Whilst Also Getting an 8 Year Disqualification

Applying for a Bounce Back Loan from Barclays with an Estimated Turnover of £100,000 When It Was In Fact Zero and Using Most of the £25k BBL For Personal Benefit Sees Company Director Slapped with a 6 Year Disqualification When Taking the Insolvency Route

8 Year Bankruptcy Restrictions Order Handed Out For Bagging a £48,000 BBL That He Was Not Eligible For and Using It To Gamble and Pay Off Debts to Private Lenders

Using the Proceeds of a £30k Starling Bank Bounce Back Loan to Make Payments to Benefit Himself to the Detriment of His Company’s Creditors Sees a Company Director Slapped with a 4 Year Disqualification

Insolvency Service Use the “New Rule” To Hit Company Director With an 8 Year Ban For Over-Estimating His Turnover By Over 25% of the Permitted 25% Permitted by the BBL Scheme

As We Wait for the Strike Off/Dissolution Unblocking Mechanism for LTD Companies with an Unpaid BBL to be Put in Place, Here is an Insight into the Options, Problems, Risks and Possible Solutions Currently Being Discussed and Evaluated by the Powers that be

What to do if Your Bounce Back Loan Mischief, Skulduggery or Even a Simple Mistake When Applying for it Comes Back to Haunt You in 2026 – Plus Dates and Schedules for BBL Enforcement Action and Write-Offs Coming This Year

Here is a Copy of the Letter the Public Sector Fraud Authority Have Sent Out to The Initial Batch of Suspected Bounce Back Loan Blaggers – Check to See What They Offer You and/or the Threats They Use and the Timeline You Have