VLC SOLUTIONS LTD

Vlad Lucian Calacean

May 1989

Disqualified from being a director because of their conduct for the period of

9 years Years 0 Month(s)

Disqualification starts from

20 February 2025

Improper conduct which resulted in their disqualification

On 20 December 2020 Vlad Lucian Calacean (“Mr Calacean”) caused VLC Solutions Ltd (“VLC Solutions”) to obtain a Bounce Back Loan (“BBL”) of £50,000 using overstated turnover figures, which resulted in VLC Solutions obtaining a BBL that was more than it was entitled to. In that: • Under the 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 turnover. • VLC Solutions was incorporated on 22 August 2018. • On 20 December 2020, Mr Calacean applied for a BBL of £50,000 on behalf of VLC Solutions declaring that its turnover for the calendar year 2019 was £220,000. • Accounts dated 31 August 2019 show turnover of £58,000 • Accounts dated 31 August 2020 show turnover of £64,750 • BBL funds of £50,000 were received 22 December 2020 Total liabilities at liquidation amount to £46,756 of which £40,833 relates to the amount owed in respect of the BBL.