Name: IAN WATSON

Name: EASTBOURNE NEWS LTD

Date of Birth: 10 / 8 / 1948

Date Order Starts: 6 / 2 / 2024

Disqualification Length: 9 Years 0 Month(s)

CRO Number: 06661094

Last Known Address: Flat 40, Fairfield Lodge, 5 Fairfield Road,, , , EASTBOURNE, BN20 7NF

Conduct: Ian Watson (“Mr Watson”) caused Eastbourne News Limited (“ENL”) to obtain two Government backed Bounce Back Loans (“BBLS) contrary to the rules of the scheme, in that: ENL was entitled to apply for one BBL of up to 25% of its 2019 turnover up to a maximum of £50,000 under the BBL scheme. Bounce Back Loan Scheme conditions state that a business should not apply for a loan if it is already in the process of applying for, or has already received, a Bounce Back Loan Scheme facility, the exception being a top-up if they originally borrowed less than the maximum amount (£50,000) available. ENL’s accounts for 2018 and 2019 show it achieved well more than the £200,000 turnover required to be eligible for a BBL of £50,000. Mr Watson applied for a BBL of £30,000 with Bank A (“BBL1”) on 01 June 2020. On 25 June 2020 Mr Watson applied for a second BBL of £40,000 with Bank B (“BBL2”). Bank B paid BBL2 funds of £40,000 into ENL’s bank account on 29 June 2020. On 23 September 2020, Mr Watson signed a BBL Loan Agreement with Bank A and a direct debit form in respect of his application for BBL1. On 06 October 2020, BBL1 funds of £30,000 were paid into ENL’s account with Bank A. All BBL application forms contained a declaration, signed by Mr Watson, stating: “I/We confirm that this is my/our only application for a Bounce Back Loan for this business, and I am/we are not part of a wider group which is in the process of applying for or has already received a Bounce Back Loan.” Obtaining multiple BBLs is against the terms of the BBL Scheme, and so ENL was not entitled to the BBL from Bank A, as it has already received the BBL funds from Bank B. ENL entered Creditors’ Voluntary Liquidation on 1 March 2022. At liquidation, ENL had liabilities of £81.006 which is the amount of the outstanding BBLs. 

This information is correct as at 16 / 1 / 2024

Name: EASTBOURNE NEWS LTD

Date of Birth: 23 / 5 / 1946

Date Order Starts: 26 / 1 / 2024

Disqualification Length: 6 Years 0 Month(s)

CRO Number: 06661094

Last Known Address: FLAT 40, FARFIELD LODGE, , , EASTBOURNE, BN20 7NF

Conduct: Patricia Watson (“Mrs Watson”) allowed Eastbourne News Limited (“ENL”) to obtain two Government backed Bounce Back Loans (“BBLS) contrary to the rules of the scheme, in that: • ENL was entitled to apply for one BBL of up to 25% of its 2019 turnover up to a maximum of £50,000 under the BBL scheme. Bounce Back Loan Scheme conditions state that a business should not apply for a loan if it is already in the process of applying for, or has already received, a Bounce Back Loan Scheme facility, the exception being a top-up if they originally borrowed less than the maximum amount (£50,000) available. • ENL’s accounts for 2018 and 2019 show it achieved well more than the £200,000 turnover required to be eligible for a BBL of £50,000. • Mrs Watson’s co-director applied for a BBL of £30,000 with Bank A (“BBL1”) on 01 June 2020. • On 25 June 2020 Mrs Watson’s co-director applied for a second BBL of £40,000 with Bank B (“BBL2”). • Bank B paid BBL2 funds of £40,000 into ENL’s bank account on 29 June 2020. • On 23 September 2020, Mrs Watson’s co-director signed a BBL Loan Agreement with Bank A and a direct debit form in respect of ENL’s application for BBL1. • On 06 October 2020, BBL1 funds of £30,000 were paid into ENL’s account with Bank A. • All BBL application forms contained a declaration, signed by Mrs Watson’s co-director, stating: “I/We confirm that this is my/our only application for a Bounce Back Loan for this business, and I am/we are not part of a wider group which is in the process of applying for or has already received a Bounce Back Loan.” • Obtaining multiple BBLs is against the terms of the BBL Scheme, and so ENL was not entitled to the BBL from Bank A, as it has already received the BBL funds from Bank B. • ENL entered Creditors’ Voluntary Liquidation on 1 March 2022. At liquidation, ENL had liabilities of £81.006 which is the amount of the outstanding BBLs. 

This information is correct as at 9 / 1 / 2024

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