Insolvency Practitioners in the News – Bournemouth and Dorset 2022
We often submit insolvency related stories and comment to the business editors of some of the key
publications in the Bournemouth and Dorset area. Often, the editors choose to use them as the basis
for articles in their publications, and we are pleased to feature links to these stories on this page.
Simply click the link to read the full story as published.
Bournemouth Echo 12th August 2022: More directors will go to jail for bounce back loan fraud, says Antony Batty
MANY more company directors may go to jail for fraudulently claiming coronavirus bounce back loans, an insolvency practitioner has said.
Abdulrazag Zagroba, 54, was sentenced to two years in prison by Manchester Crown Court following the first successful prosecution of a fraud case involving the Covid loans.
The court heard he applied for a bounce back loan of £20,000 without telling the bank that he had applied less than two weeks earlier to dissolve his business Amigo Pizza (Manchester) Ltd.
For the full article: https://www.bournemouthecho.co.uk/news/20622126.directors-will-go-jail-bounce-back-loan-fraud-says-antony-batty/
Dorset Business Focus magazine August 10th 2022. First Director goes to prison for Bounce Back Loan Fraud
On 24th June 2022, Abdulrazag Zagroba, the sole director of Amigo Pizza (Manchester) Limited, was sentenced to 24 months in prison for Bounce Back Loan (BBL) fraud, the first successful criminal prosecution for this crime by the Insolvency Service. He was also disqualified as a director for 7 years.
For the full story: https://dorsetchamber.co.uk/first-director-goes-to-prison-for-bounce-back-loan-fraud/
Dorset Business Focus magazine July 12th 2022. What are the options for paying back a Bounce Back Loan?
We are seeing increasing numbers of businesses struggling to make their BBL repayments, so this advice from Jo Wilmott of the Minster Partnership is timely and very useful. As always, the sooner advice is taken the better the likely outcome.
For the full story: https://dorsetchamber.co.uk/what-are-the-options-for-paying-back-a-bounce-back-loan/.
Dorset Business Focus magazine. June 22nd 2022. The potential misuse of CBILs/CLBILs/BBLs – an Insolvency Practitioners Perspective.
Freezing orders, Winding up Petitions, Director Disqualification and Criminal Proceedings can all be the result of misuse. But what if you genuinely cannot repay?
For the full story: https://dorsetchamber.co.uk/the-potential-misuse-of-cbils-clbils-bbls-an-insolvency-practitioners-perspective/
Bournemouth Echo 22nd June 2022: Penalties for misusing coronavirus loans, warns insolvency firm Antony Batty
BUSINESSES have been warned they could face penalties including winding-up orders and director disqualifications if coronavirus loans have been misused or improperly applied for.
For the full article: https://www.bournemouthecho.co.uk/news/20228398.penalties-misusing-coronavirus-loans-warns-insolvency-firm-antony-batty/
Dorset Business Focus magazine 1st June 2022: Antony Batty and Company celebrates 25th Birthday
Insolvency practitioner and turnaround specialist Antony Batty & Company is celebrating 25 years in business as licensed insolvency practitioners. For the full story: https://dorsetchamber.co.uk/antony-batty-co-celebrates-its-25th-birthday/
Dorset Business Focus magazine 22nd February 2022: Bounce Back Loans – Lifeline or potential headache?
Many businesses cannot repay the loans. Directors are asking us what can they do? Getting the right advice is vital. This has caused confusion amongst many businesses who have taken out a BBL and now find themselves in a position where they cannot repay the loan. The question now being asked by many directors is what can they do? For the full story: https://dorsetchamber.co.uk/bounce-back-loans-a-lifeline-or-a-potential-headache/.
Dorset Business Focus magazine 10th February 2022: Directors must remain vigilant to avoid Wrongful Trading.
The Covid-19 related suspension of Wrongful Trading Provisions ended on 30th June 2021; however, the related business difficulties are still with us. For the full story: https://dorsetchamber.co.uk/directors-must-remain-vigilant-to-avoid-wrongful-trading/
Bournemouth Echo 10th January 2022: Warning that bosses face Covid Bounce Back Loan probes
COMPANIES with outstanding coronavirus bounce back loans can no longer be dissolved by their directors without the possibility of an official investigation, a business adviser has warned. For the full story: https://www.bournemouthecho.co.uk/news/19833254.directors-dissolved-businesses-face-bounce-back-loan-probes/
Dorset Business Focus magazine 6th January 2022: New legislation over Company Dissolution, Bounce Back Loans and other Covid Funding
In this article, we look at the new legislation being introduced around the Dissolution of Companies and what this means for Directors of Dissolved Companies. For the full story: https://dorsetchamber.co.uk/new-legislation-over-company-dissolution-that-directors-need-to-understand-about-bounce-back-loans-and-other-covid-funding/