Blackburn Director’s Bounce Back Badness
A Blackburn Automotive Director has been Banned For 8 Years. Anthony Stephen Miller, 48, from Blackburn was director of Millers Commercial Refinishers Ltd which traded from July 2017 until early 2020 after which it went into Creditors Voluntary Liquidation in June 2020.
This was another case of government action on Bounce Back Badness.
Millers Commercial Refinishers Limited
Millers Commercial Refinishers was an automotive business based at Great Harwood near Blackburn. It provided a body repair service for vehicles damaged in accidents.
The company had ceased trading in early 2020 and Miller, having already informed third parties that the company would be put into Liquidation, approached an Insolvency Practitioner in February 2020.
When the company did eventually go into Liquidation in June 2020, the company Liquidators referred the case to the Insolvency Service.
Insolvency Service Investigation Of Bounce Back Loan
The subsequent investigation by the Insolvency Service found that the company had applied for and received a £50,000 Bounce Back Loan, despite it being clear that companies that had already ceased trading were not eligible for the loans, which were intended to support genuine companies during the pandemic lockdown.
Miller transferred nearly £30,000 of the loan out of the company’s account to a connected company, despite owing HMRC at least £30,486 in unpaid VAT, PAYE and other charges at the point Millers Commercial Refinishers went into liquidation.
What Next For Blackburn Automotive Director Banned?
The Secretary of State for Business, Energy and Industrial Strategy accepted a Director disqualification undertaking from Miller, which begins on 22 February 2022 and lasts for eight years.
The disqualification undertaking prevents Miller from directly or indirectly becoming involved in the promotion, formation or management of a company without the permission of the court.
Insolvency Service Comment: Blackburn Automotive Director Banned
Rob Clarke, Chief Investigator at the Insolvency Service said:
Bounce Back Loans were made available for trading companies adversely affected by the pandemic. Anthony Miller knew his company had ceased trading yet he took it anyway.
We will not hesitate to take action against directors who have abused Covid-19 financial support like this, and his lengthy ban should serve as a warning to others.
Cannot Repay A Bounce Back Loan?
If you cannot repay a Bounce Back Loan with your company ceasing to trade and you want to close it down then we can help you with that process. We are fully licensed to enable you to consider placing a company into Creditors Voluntary Liquidation and if it is right for the circumstances. This may enable you to make a fresh start but in any event, the Liquidation can look to address the Bounce Back Loan. Contact us for a quote and free initial confidential advice.
Are you a UK company Director?
If you are a Director of an insolvent company or a bankruptcy, Oliver Elliot can help you. We Know Insolvency Inside Out.
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