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 Gets a 5 Year Disqualification for Not Using a Bounce Back Loan for the Benefit of His Business

February 22, 2022

Just a five-year disqualification was handed out to the Company Director in the following case, which it is stated a £50k Bounce Back Loan was not used for the benefit of his business. […]

Bagging a Bounce Back Loan Top-Up by Mis Representation Lands a Sole Trader with an 8 Year BRO and Another Gets a 7 Year BRO for Using His BBL For Personal Benefit

February 19, 2022

A couple of sole traders have just been given 7-year and 8-year Bankruptcy Restriction Orders for wrongdoing with their Bounce Back Loans, here are the details of both of those cases. […]

Insolvency Service Cannot Make Head Nor Tail of a Company’s Finances Including if a £30k NatWest BBL Was Used Legitimately So Slap Director With a 7 Year Disqualification

February 17, 2022

Today’s case shows you what happens if you put the Insolvency Service in a position whereby they cannot work out a businesses finances when its being wound up, and whether a Bounce Back Loan was legit. A seven-year disqualification was deemed a suitable punishment for this […]

4, 6 and 8 Year Disqualifications Handed Out to Three Company Directors As Another £150,000 in Bounce Back Loans Turn Sour

February 16, 2022

Today’s three cases, which saw £150k in BBLs turning sour, will give you some idea of how the Insolvency Service has just dealt with three Company Directors and their “wrongdoing” having wound up their businesses with a Bounce Back Loan still owing. […]

Starling Bank Pays Out a BBL and TopUp Worth £37,500 in Total to a Company With No Trading Income – Director Gets 9 Year Disqualification for Using Those Funds for the Benefit of Himself and/or Others

February 14, 2022

Not quite sure what Starling Bank were doing approving a BBL and Top Up worth £37.5k in total and paying it out to a business with no trading income, but hey ho, they are now left with another such loan that has gone sour, as Director of the company that got it took insolvency route after using those funds for personal benefit and/or the benefit of others. Here are the details. […]