Here are the details of this case, along with the winding up order.
Winding Up Order
Chester Reed (“Mr Reed”) caused Chester’s Car Centre Ltd (“Chesters”) to breach the conditions of the Bounce Back Loan (“BBL”) scheme by failing to use the funds for the economic benefit of Chesters.
In that
- Chesters was incorporated on 12 February 2020.
- On 08 July 2020 Mr Reed signed an application for a £50,000 BBL.
- Chesters received £50,000 into its bank account on 08 July 2020.
- On 09 July 2020 £50,000 was transferred to Mr Reeds personal account, which was not for the economic benefit of Chesters.
