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.

Failing to Use a £50k NatWest Bounce Back Loan for the Economic Benefit of His Company Sees Company Director Hit with a 7 Year Disqualification at Insolvency

March 1, 2022

The total number of BBLs that have turned sour is increasing daily, in fact recent figures show that some 500 BBLs per day are going into arrears. Today’s case is another one involving a NatWest BBL and a Company Director who ended up with a 7-year disqualification for wrongdoing with his loan. […]

7 Year Disqualification Handed Down to a Company Director Who Got a NatWest Bounce Back Loan But Failed to Deliver to the Liquidator a Whole Host of Required Information When Winding Up His Company

February 28, 2022

A £37,000 NatWest Bounce Back Loan has turned sour in the case that I will be covering below, in which you will see the Liquidator has been left with their hands tied regarding several aspects of a company’s activities. […]

Company Director Who Fraudulently Applied for a £40k Barclays Bounce Back Loan Gets Slapped with a 10 Year Disqualification

February 28, 2022

Securing a £40,000 BBL when only entitled to get a Bounce Back Loan worth a maximum of £3,060 sees a Company Director hit with a huge 10 year disqualification. Here is an overview of that case. […]

Co-Directors Given 6 Year Disqualification For Using a £40k Santander Bounce Back Loan to Repay Personally Guaranteed Loans to the Benefit of the Directors

February 28, 2022

Another case here regarding wrongdoing associated with a Bounce Back Loan, that resulted in Co-Directors both being handed a 6 Year Disqualification. […]

Another 7 Year BRO Handed Out to a Sole Trader For Over-Egging Turnover To Get a Bounce Back Loan and Using It For Personal Benefit

February 28, 2022

If you have been keeping track of my BBL Defaults Tracker that lists the punishments handed out by the Insolvency Service for those taking the insolvency/bankruptcy route when they have a BBL still owing and are subsequently found to have done some form of wrongdoing, it has just increased by another £50k, as per the […]