Read on for an overview of this case, and to view a copy the Winding Up Order.
Winding Up Order
Overview of the Case
Ana Miah (“Mr Miah”) caused Spice Master Trading Limited (“Spice”) to obtain a Coronavirus Business Interruption Loan (‘CBIL’) of £132,500 on 29 December 2020 and failed ensure that Spice repaid from the proceeds a previously-obtained Bounce Back Loan (‘BBL’) of £50,000 with another lender contrary to the conditions of the Coronavirus support schemes.
In that:
- On 16 May 2020, Mr Miah applied for a Bounce Back Loan (BBL) of £50,000 on behalf of Spice. On 18 May 2020, Spice received a BBL of £50,000. On 29 December 2020, Mr Miah signed an application for a CBILS loan of £132,500, on behalf of Spice.
- The terms of loan required Spice to repay the BBL in full. On 04 January 2021, Spice received a CBILS loan of £132,500.
- On 07 December 2022, Spice received a Winding Up Order.
- On 07 December 2022, there was outstanding amount of £34,993 in relation to the BBL, therefore breaching the terms.
