Just an 8 year ban for the Company Director named in this case for wrongdoing with a Barclays BBL.
On 07 May 2020 Andrius Vorobjovas (“Mr Vorobjovas”) caused Big Boy London Ltd to apply for a Bounce Back Loan (“BBL”) of £35,000 using overstated turnover figures, which resulted in Big Boy London Ltd obtaining a BBL that was £30,946 more than it was entitled to.
Mr Vorobjovas caused Big Boy London Ltd to expend up to £4,346 of the BBL funds between 26 May 2020 and 18 June 2020 for purposes that did not provide economic benefit to Big Boy London Ltd, in breach of the BBL terms and conditions.
In that:
- Under the BBL scheme businesses could apply for a loan of between £2,000 and £50,000 subject to a maximum of up to 25% of turnover.
- The turnover figure was self-certified by the applicant. The turnover figure required was that for the calendar year 2019 or where a business was established after 1 January 2019 it is their estimated turnover. Big Boy London Ltd was incorporated on 04 November 2016.
- On 07 May 2020, Andrius Vorobjovas applied for a BBL of £35,000 on behalf of BBLL declaring that its turnover for the calendar year 2019 was £150,000.
- Accounts for period ended 31 March 2019 show no turnover.
- Accounts for period ended 31 March 2020, show turnover of £16,214.
- Big Boy London Ltd received the BBL funds of £35,000 on 11 May 2020. Between 26 May 2020 and 18 June 2020, £25,000 of the BBL funds were loaned to a connected company for no economic benefit to Big Boy London , with funds being transferred back in from the connected company of up to £20,654 .
- The outstanding balance unpaid being £4,346 Total liabilities at liquidation/administration amount to £32,409 of which £28,715 relates to the amount owed in respect of the BBL.
