Name: SAI MAN VOON

Name: Ip Man's Cuisine Ltd

Date of Birth: 2 / 6 / 1988

Date Order Starts: 5 / 12 / 2025

Disqualification Length: 10 Years 0 Month(s)

CRO Number: 11769503

Last Known Address: 14 St. Johns Street,, , , , COLCHESTER,, CO2 7AN

Conduct: Sai Man Voon (“Mr Voon”) caused Ip Man’s Cuisine Limited (“Ip Man’s”) to apply for a Bounce Back Loan (“BBL”) using overestimated turnover figures resulting in Ip Man’s receiving more than it was entitled to and, contrary to the terms of the scheme, did not use all the funds for the economic benefit of the company. In that: • Under the bounce back loan (“BBL”) scheme businesses could apply for a loan of between £2,000 and £50,000 subject to a maximum of up to 25% of turnover. The turnover figure was self-certified by the applicant. The turnover figure required was that for the calendar year 2019, or where a business was established after 1 January 2019 it is their estimated annual turnover from the date the business started. • Where a company had not applied for the maximum amount to which it was entitled, it could make a further application to bring the loan total to the maximum amount. • Ip Man’s was incorporated on 16 January 2019. • Ip Man’s received a BBL of £48,000 on 12 June 2020. On 09 December 2020, Ip Man’s received another £2,000 as a top-up to the original BBL. To qualify for this level of loan, the company would have required a turnover of £200,000. Mr Voon has provided no records to the liquidator to support this level of turnover. • An analysis of the statements from Ip Man’s bank account to 15 January 2020, being 12 months from Ip Man’s incorporation, shows credits of £69,867. Taking this as turnover, the maximum BBL to which Ip Man’s would have been entitled to was £17,466. Mr Voon caused Ip Man’s to received £32,534 more than it was entitled to. • Between 15 June 2020 and 17 June 2020 payments totalling at least £36,472 were paid from Ip Man’s bank account, for which Mr Voon has not provided records to the Liquidator which would demonstrate that the BBL funds were used for the economic benefit of the company. • When Ip Man’s went into liquidation on 26 June 2023, the outstanding balance of the BBL was £46,418. 

This information is correct as at 17 / 11 / 2025

If you believe this page contains any errors, please email legalservices@insolvency.gov.uk with details of the error that you have found.