Insolvency Service to investigate dissolved companies
The ease with which Bounce Back Loans were made available led to a significant number of fraudulent and inappropriate loan applications. It's good to see that as part of the Ratings (Coronavirus) and Directors Disqualification (Dissolved Companies) Bill, the Insolvency Service will now be able to investigate the Directors of Dissolved companies too. This closes the loophole that allows Directors to not pay back such loans by just dissolving ther company. Obviously those who took them out in good faith and their companies still failed should not have any issues.