The director of a fruit and vegetable retailer, who improperly invested more than half of a Covid Bounce Back loan on the stock market instead of using it for his business, has been disqualified and ordered to repay the money. Emra Kayam, 35,...
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An ex-electrician faces over a decade of constraints after a significant misuse of a pandemic aid scheme meant to assist businesses through tough times. Andrei Adrian Moise, a 35-year-old from Mitcham, Surrey, secured a Bounce Back Loan of £45,000...
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The Insolvency Service has taken robust action against company directors who misused COVID-19 financial support schemes, banning 831 directors in the 2023-24 financial year. This represents an increase of over 80% from the previous year. The...
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Grigorijs Hacaturjancs, the director of online hair and beauty business Beauty & Melody Shop Ltd, has been disqualified as a director for 10 years after fraudulently claiming a £50,000 Bounce Back Loan. Beauty&Melody Shop Ltd was...
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As R3 launch their Directors’ guide to getting #Backtobusiness, we’ve also been thinking about the importance of reviewing your business and knowing when to seek professional advice. Having worked with financially distressed businesses for...
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Important insolvency legislation changes have been proposed which mean that Directors of dissolved companies, particularly those that have received government support through bounce back loans or CBILS, can be investigated by the...
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The beginning of May saw the first letters go out requesting repayment of Bounce Back Loans (BBLs) which were made available by the Government from March 2021. But what happens if you can’t afford to pay back the loan and if you are a...
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Isobel Brett provides comment for Financial Accountant on bounce back loans
Posted By: Bretts Business Recovery Ltd on 19th March 2024
Isobel Brett was featured in a recent article in Financial Accountant looking at the worrying number of bounce back loans issued to struggling SMEs by the Government, which may never be re-paid or were potentially mis-used. The article considers...
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