At 67 years of age, I had been working in the luxury goods marketplace for over 45 years. Having mastered my craft, I was often retained by some of the world's most famous luxury good brands (both within the United Kingdom and abroad) to work on projects and specialised pieces of jewellery often worth millions of pounds.

Attributable to my hard work, determination and level of skill gained over many years, I was and am regularly referred to as the leading craftsman in my industry and which is why my skills are often sought out even as I approach retirement.

Investigation by the Insolvency Service in Relation to a Bounce Back Loan

Having operated as a sole trader for the entirety of my professional career, I then became incorporated on the advice of my accountant and for the very first time, a director of a limited company. I had great visions for the limited company, its organic growth and for it to expand into other highly lucrative areas of the luxury goods marketplace. The business plan, routes to market, the showroom and inventory had been prepared by me and were ready to be sold at a significant mark up and profit. The business, its clientele and momentum was gaining traction until suddenly it came to an abrupt halt.

Attributable to the outbreak of the Covid-19 Pandemic and a breakdown in the relationship with my business partner, I resigned my directorship and the Company was eventually placed into compulsory liquidation. This was an extremely difficult and mentally draining time for me as much time, effort and expense had gone into creating this new business venture, brand and product. The situation was then exacerbated once correspondence was received from the Insolvency Service confirming my conduct as director was being investigated with a view to me being disqualified. Furthermore, the circumstances of how, when and why I completed the Bounce Back Loan Application was also being investigated.

I was devastated and in utter shock of what to do next as initial online research established that as well as being disqualified, I could also be subject to a Compensation Order whereby a financial recovery is also sought from me alongside any disqualification ban. I was scared, extremely alarmed and everything that I had built over a 45 year career and approaching retirement now all being at great risk.

It would have been easier, quicker and cost effective for me to accept a disqualification ban due to my age and move on with my life. However, I was determined that I had not done anything wrong and did not want 45 years of hard work being undone literally overnight.

Instructing Gulshan at D & N Solicitors

I initially attempted to liaise with the Insolvency Service myself, but it quickly became apparent that I required specialist legal advice. I had never met, had any relationship with or any dealings with Gulshan previously. However, having carried out online research I reached out to Gulshan.

Gulshan immediately made me feel at ease and went through the process, the role of the Insolvency Service, my options and tactics of how best to deal with matters moving forward. Suddenly and for the first time, I found hope that not all was lost.

Gulshan then assisted me in my dealings with the Insolvency Service. This included drafting detailed submissions setting out my position, responding to the allegations against me and explaining how and why the Bounce Back Loan Application was completed by me, the methodology behind the information contained within it and why the information was not fanciful. This process also included myself and Gulshan attending a meeting with the Insolvency Service. That meeting proved to be invaluable as it enabled me to meet the Insolvency Service and give my version of events on a face to face basis with the assistance and structure put in place by Gulshan.

The Outcome – No Disqualification

When I initially received correspondence from the Insolvency Service and from my dealings with them before legal representation, it appeared to be a certainty that I would be disqualified. However, through the team effort of working with Gulshan, we were able to convince the Insolvency Service that my conduct was genuine and I had gone through the Bounce Back Loan Application process honestly and transparently.

It was on this basis that the Insolvency Service agreed to terminate its investigation into me and not proceed with a recommendation to the Secretary of State that I be disqualified.

Relief for Me and Restoring My Faith in the Legal System

At the very outset I had very serious concerns that I was simply going to become another number or statistic. However, what this investigation has taught me is how crucial it is to go through, exhaust the process and retaining specialists in the relevant area is very much worth its weight in gold.

Put simply, being disqualified would have undone 45 years of extremely hard work to reach the pinnacle of my profession. With Gulshan's assistance, that has now been avoided whilst at the same time restoring my faith in the legal system.

Thank you, Gulshan!

David or DH.
Essex