Read on for the outrageous details of this case and to view the Winding Up Order.
Winding Up Order
Background of the Case
Asrin Babamiri Ozongheshlagh (Mrs Babamiri Ozongheshlagh) caused Starseven Limited (Starseven) to apply for a Bounce Back Loan (BBL) that she knew or ought to have known Starseven was not entitled to.
In that:
- The BBL scheme enabled a business to obtain a BBL of up to 25% of its turnover for the calendar year 2019, up to a maximum amount of £50,000.
- Where a business was established after 1 January 2019, the applicant could apply the 25% limit to their estimated annual turnover from the date they started their business.
- As the Starseven was incorporated 14 July 2014, Mrs Babamiri Ozongheshlagh was required to use Starseven’s turnover for the period 01 January to 31 December 2019.
- For, Starseven, this was £0.
- Instead, she has used an estimation of £250,000.
- On 24 August 2020 Mrs Babamiri Ozongheshlagh caused Starseven to apply for a £50,000 BBL.
- This was deposited into the Starseven’s bank account on 25 August 2020.
- In line with the BBL loan terms and conditions, in order to be eligible a company had to be actively trading on 01 March 2020.
- Starseven had not traded since 09 February 2019.
That Mrs Babamiri Ozongheshlagh did not use the BBL funds for the economic benefit of Starseven, as required by the terms and conditions of the BBL scheme.
In that:
- Mrs Babamiri Ozongheshlagh has stated to the Liquidator and the Insolvency Service, and Starseven’s bank account corroborate that £43,000 of funds were used to fund her living expenses.
- A further £1,000 was transferred to an associated party.
- £45,563 of the BBL remains outstanding at the time of the liquidation.
