Bounce Back Loan Abuse with Strict Bankruptcy Restrictions



Six individuals face tough measures, including bans on directing companies and borrowing over £500. This move is part of ongoing efforts to target Covid loan misconduct. The Service secures Bankruptcy Restrictions Orders (BROs) and Undertakings (BRUs), curbing dishonest or blameworthy conduct.

Director disqualifications and bankruptcy restrictions related to Covid scheme abuse reach 757 and 69, respectively, in 2023-24.

Robert Peck, Director at the Insolvency Service, has emphasised their commitment to tackling loan fraud. Recent cases include individuals like Robert King and Abdullah Khan, facing lengthy restrictions for false loan applications.

BROs and BRUs limit activities like company directorship and borrowing, aiming to curb financial misconduct and protect creditors' interests.



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