As the Insolvency services tighten their belt and crack down on delinquent directors, it comes as no surprise that there is a sharp increase in the number of director disqualifications for frauds related to the Covid-19 Bounce Back Loans (BBL).
The recent figures published by the Insolvency Service show that out of the total 932 director disqualifications, almost half (459) disqualifications were because of misuse / abuse of the BBL. The stats showed a rise in criminal prosecutions against the directors, with all prosecutions resulting in a conviction and in two cases immediate imprisonment.
The latest figures published by the Insolvency Service show an unsurprising rise across both corporate and personal insolvencies. The figures publi…
Read the full article at: https://www.ibblaw.co.uk/insights/blog/insolvency-services-crackdown-on-delinquent-directors