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The Latest Breaking News from Insolvency Service

Arnold man who misused £50,000 government Covid loan gets 6-year director ban

The loan aimed to support small to medium sized businesses during the pandemic

Nottingham Post

Takeaway and building supplies bosses disqualified after falsely claiming tens of thousands in Bounce Back Loans

Business owners 'completely abused the government-backed loans to further their own interests'

Birmingham Post

Rogue publisher charged customers £74k for bogus adverts in police magazine

Sage Media National Limited 'unscrupulously' targeted companies using aggressive sales tactics to advertise in a magazine that lied about its reach and associations

Wales Online

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The number of businesses going bust is soaring as costs rocket

There's been a big year-on-year jump

Wales Online

Almost 28,000 Britons enter insolvency as inflation hits

New insolvency service data showed that 27,927 individual insolvencies were recorded over the three months to September.

The Independent UK

As recession looms, company directors are in the firing line

City Voices: Withdrawal of government support will hit business hard

Evening Standard

Glasgow property director disqualified for 12 years

Director set up companies to get three Bounce Back Loans which funded a house purchase

Insider UK

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Man sacked by P&O Ferries wins payout after taking company to court

He has donated the money to help other families during the cost of living crisis

Wales Online

‘Ruthless’ Orpington man banned from being a company director after 77,000 nuisance calls

Tomus Patrick Arif targeted old and vulnerable people according to the Insolvency Service

Evening Standard

Ex P&O workers' fury as firm escapes legal action after sacking 800 employees

Seafarers left devastated that ferry firm P&O will not be prosectuted for sacking 800 staff by video message say 'spineless' Transport Secretary Grant Shapps should resign over lack of action

Daily Mirror

Fury as P&O faces no criminal action over mass sackings of 800 workers

The Insolvency Service said it had determined there was "no realistic prospect of a conviction"

Daily Mirror

P&O won't face criminal proceedings after sacking nearly 800 staff without notice

THE Insolvency Service has determined P&O Ferries will not face criminal proceedings over its actions in firing almost 800 workers earlier this…

The National (Scotland)

Insolvency Service says P&O will not face criminal action over mass sackings

The company sparked public anger and was hauled in front of MPs to answer questions when it sacked hundreds of workers without notice in March.

The Independent UK

P&O Ferries escapes criminal prosecution over sacking of 786 workers

Lawyers advised Insolvency Service there was ‘no realistic prospect of a conviction’

The Independent UK

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The Guardian - UK

Insolvency: thousands of Britons could cut debt as advice changes

Balance could be written off or repayments halved after firms told by Insolvency Service to take cost of living crisis into account

Manchester Evening News

Pizza takeaway fraudster 'spent £20k Covid loan on his family abroad and a car'

The loans were to support viable businesses during the pandemic - Abdulrazag Zagroba has been jailed in a landmark case

The Independent UK

SPAC Nation church shut down by government following fraud allegations

The church, once hailed by UK politicians as a beacon of hope for ex-gang members, was hit by allegations of financial exploitation of its members in 2019

Daily Mirror

Ex-Liverpool and Newcastle star Danny Guthrie declared bankrupt after racking up £120k debts

The 35-year-old, who also played for the likes of Bolton, Blackburn and Reading, has been declared bankrupt at a county court after accumulating excessive six-figure debts

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Glasgow Live

Glasgow woman behind cold calling firm that made one million nuisance calls

Businesswoman Ashley Dodwell has been banned from running a company after her boiler replacement company Making It Easy when it bombarded people with unwanted calls.

Birmingham Post

Takeaway boss who wrongly claimed more than £50,000 through Covid-19 support schemes handed seven-year ban

Ifraz Nabi's company went into liquidation in November 2020

The Guardian - UK

Covid fraud: how bounce back loans paid for cars, watches and even porn

As details emerge, concerns grow about Treasury’s efforts to recover almost £5bn wrongly claimed

Manchester Evening News

Chicken shop boss disqualified after wrongly claiming £50,000 of covid support cash

Ifraz Nabi, 41, has been banned from running companies for seven years after he abused the Eat Out to Help Out and covid furlough schemes for his Manchester takeaway

The Guardian - UK

Angry suppliers to Missguided weigh up legal action against ‘reckless’ owners

Firms claiming to be owed millions of pounds said retailer ordered goods despite insolvency looming

The Guardian - UK

TUC chief calls for directors of P&O Ferries to be disqualified

Francis O’Grady writes to Insolvency Service, which is investigating the sacking of almost 800 crew

The Guardian - UK

BrightHouse loan customers unlikely to get refunds, say administrators

Creditor Greensill has received big sum but Grant Thornton decides cost of assessing other claims is too high

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