Overview Of Anticipated Focus Areas For BBLS Litigation

During the pandemic, the coronavirus loan schemes provided more than £75bn of government funding, overseen by the British Business Bank. The BBLS was the largest of these schemes by both number of applications and total amounts lent, with lending in excess of £47bn across more than 1.5 million applications. BBLS applications closed at the end of March 2021.

The influx of complaints and claims is expected to follow the customer journey. To date, these have mostly related to declined or delayed applications; however, numbers are starting to increase as repayments begin and lenders begin collection and recovery activities. In our article we examine the litigation risks