Name: Neil McDonagh

Name: Rawis Ltd

Date of Birth: 18 / 6 / 1983

Date Order Starts: 11 / 3 / 2024

Disqualification Length: 9 Years 0 Month(s)

CRO Number: 07223194

Last Known Address: 60 Front Street, Whitburn,, , , , SUNDERLAND,, SR6 7JF

Conduct: Between 10 June 2020 and 13 October 2020, Neil McDonagh (Mr McDonagh) caused Rawis Ltd to misuse funds obtained through a Government backed Business Bounce Back Loan (“BBL”) totalling at least £29,500, by not using the funds for the economic benefit of Rawis, contrary to the terms of the loan. In that: Between 10 June 2020 and 26 August 2020, Mr McDonagh paid a total of £20,500 of the BBL funds to himself. Although he has stated that this was for the economic benefit of Rawis, he has failed to provide any evidence in support of this. Of this sum, he stated that £14,500 of this was for equipment purchased for the company, £5,000 was his salary and £1,000 was for a training course. On 30 September 2020, Mr McDonagh paid a further £5,000 to himself, which he has stated was a loan Rawis made to him and that this has not been repaid. There are no other known loans made to Mr McDonagh from Rawis in the period after 31 March 2020. It was a requirement of the BBL scheme that the BBL funds were used for the economic benefit of the business and not for personal purposes. This payment was in breach of those terms. On 13 October 2020, Mr McDonagh paid £4,000 to a family member, which he has stated was reimbursement for accommodation expenses she incurred on behalf of Rawis. Although he has stated that this was for the economic benefit of Rawis, he has failed to provide any evidence in support of this. 

This information is correct as at 14 / 3 / 2024

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