Case details for Asen Petrov

Name: Asen Petrov


Date of Birth: 2 / 12 / 1991

Date Order Starts: 29 / 12 / 2022

Disqualification Length: 10 Years 0 Month(s)

CRO Number: 11439352

Last Known Address: 36 Percival Road,, , , , FELTHAM,, TW13 4LF

Conduct: Asen Petrov (“Mr Petrov”) caused Move & Go Limited (“Move & Go”) to act in breach of the terms of the government-backed “bounce back loan” (“BBL”) scheme by overstating its turnover in order to obtain the maximum loan of £50,000, which was £41,500 more than it was entitled to; in that: The conditions of the BBL scheme provided that the business was eligible for a loan to a maximum of £50,000 which is up to 25% of the company’s turnover in the calendar year 2019. Therefore, the company’s turnover should have been at least £200,000 in the year 2019 to be entitled to a £50,000 BBL. Mr Petrov’s BBL application for Move & Go was signed and dated on 16 July 2020. On the BBL application, Move & Go’s turnover was stated to be £200,000 and a loan of £50,000 was requested. Mr Petrov ticked the box to confirm that this was equal or less than 25% of annual turnover for 2019. On 17 July 2020, BBL funds of £50,000 was received into Move & Go’s account. Bank statements show that from 01 January 2019 to 31 December 2019, Move & Go’s turnover totalled £34,000. The maximum loan eligibility at 25% would only have been an estimated £8,500. The £50,000 BBL obtained by Move Ahead was £41,500 more than it was entitled to. By the date of liquidation, the creditors totalled £54,251 of which £50,000 was owed to the bank under the BBL. 

This information is correct as at 12 / 12 / 2022

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