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 Disqualified for 11 Years After Bagging a Barclays and a Starling Bank Bounce Back Loan for His One Single Company

October 3, 2022

The failure by the powers that be to have a system in place in the first few weeks of the BBL scheme that allowed lenders to see if a business had already got a Bounce Back Loan led to people like the Company Director below being able to bag two of them. He didn’t pay back either of them and is now starting an 11 year disqualification for his wrongdoing, […]

9 Year Bankruptcy Restrictions Order Given to a Sole Trader for Getting a Higher Valued Bounce Back Loan Than He Was Entitled To

October 3, 2022

Over-egging your business turnover to blag a bigger Bounce Back Loan than you were entitled was not uncommon, however taking the bankruptcy route as a Sole Trader and leaving […]

With No Accounting Records Delivered to the Liquidator There is No Telling Where This £35k NatWest Bounce Back Loan Went so the Company Director is Given a 7 Year Disqualification

September 30, 2022

There is certainly a pattern forming with some Company Directors who have taken the Insolvency route with a Bounce Back Loan left unpaid, of not delivering the accounting records of their Company to the Liquidator. That then leaves the powers that be often unable to determine whether a BBL was legitimately applied for and them also being unable to verify where the money went. When taking that stance, the ban they then ultimately are hit with is often lower in length than if they […]

Having Used £24k of a £40k NatWest Bounce Back Loan for Personal Benefit and Leaving That Loan and a Big HMRC Bill Unpaid at Liquidation Sees Another Company Direct Being Given a 6 Year Disqualification

September 29, 2022

The Company Director named in this case does appear to have got off light for his Bounce Back Loan wrongdoing, for I have seen lots of others who also used their BBL for personal benefit get much longer disqualifications when taking the Insolvency route. […]

10 Year Disqualification for Company Director Who Got a £50k Barclays Bounce Back Loan Then Made Cash Withdrawals and Also Spent Money from that BBL at Restaurants, Shops, Supermarkets and Hotels

September 28, 2022

Blagging a £50k Barclays Bounce Back Loan by over-egging her business turnover, then going on a wild spending spree with that money was never a good idea, as the Company Director named below has discovered, and she is now starting a 10 year disqualification as punishment. […]