Carlton James Johnson-Vaughton (48) has had his bankruptcy restrictions extended and, for the next nine years, will need to disclose his status each time he attempts to secure £500 or more in credit.

In March 2019 the Westcliff-on-Sea resident obtained a £25,000 loan before applying for his own bankruptcy just two months later.

Following an investigation into Carlton Johnson-Vaughton’s affairs by the Official Receiver, it was discovered that he provided false information about his income and created fake wage slips to support his application for the loan, which he had no reasonable expectation of being able to repay.

The investigation also uncovered that he had used, and lost, the £25,000 loan monies on gambling.

On 6 March 2020, Carlton Johnson-Vaughton had his nine year Bankruptcy Restriction Undertaking accepted by the Secretary of State which, in addition to restricting his access to credit, means he cannot act as a company director without the permission of the court.

Sallie Rose, the Official Receiver, said:

Carlton Johnson-Vaughton cynically and dishonestly obtained credit, and squandered the funds on gambling, in the few short weeks prior to filing for his own bankruptcy.

To protect the market from further abuse, we secured extended bankruptcy restrictions which will prevent him from borrowing money from unwary lenders in the future.

Carlton James Johnson-Vaughton’s date of birth is November 1971.

Public-facing details of Carlton James Johnson-Vaughton’s Bankruptcy Restrictions Undertaking is available on the Individual Insolvency Register.

Bankruptcy restrictions are wide ranging. The effects are the same whether you are subject to a bankruptcy restrictions order or to an undertaking. Guidance on the main statutory consequences flowing from a bankruptcy restrictions order or undertaking.

Information about the work of the Insolvency Service, and how to complain about financial misconduct.

You can also follow the Insolvency Service on:

• Only go outside for food, health reasons or work (but only if you cannot work from home)
• If you go out, stay 2 metres (6ft) away from other people at all times
• Wash your hands as soon as you get home

Do not meet others, even friends or family.

You can spread the virus even if you don’t have symptoms.

• All viable businesses with turnover of more than £45m will be able to apply for UK Government-backed support;
• Firms with turnover of more than £250 million can borrow up to £50 million from lenders;
• This complements existing support including the Covid Corporate Financing Facility and the Coronavirus Business Interruption Loan Scheme.

A UK government-backed loan scheme for large businesses affected by coronavirus has been expanded to cover all viable firms, the Chancellor announced today.

Outlining further details of the Coronavirus Large Business Interruption Loans Scheme (CLBILS) ahead of its launch on Monday, Rishi Sunak said all firms with a turnover of more than £45 million will now be able to apply for up to £25 million of finance, and up to £50 million for firms with a turnover of more than £250 million.

Business with turnovers of more than £500 million were originally not eligible for the scheme, which is being set up to help firms who do not qualify for the existing Coronavirus Business Interruption Loan Scheme – for small and medium sized businesses – and the Bank of England Covid Corporate Financing Facility – for investment grade companies. The move, which comes after extensive consultation with businesses, will ensure even more firms are able to benefit from UK Government support.

The Chancellor of the Exchequer, Rishi Sunak, said:

I want to ensure that no viable business slips through our safety net of support as we help protect jobs and the economy. That is why we are expanding this generous scheme for larger firms.

This is a national effort and we’ll continue to work with the financial services sector to ensure that our £330 billion of government support, through loans and guarantees, reaches as many businesses in need as possible.

Secretary of State for Wales, Simon Hart, said:

We are completely committed to protecting businesses of all sizes during this emergency. By expanding this scheme to cover even more businesses, we are ensuring that as many companies as possible across the UK can access the support they need.

The UK Government will continue to do whatever it takes to help all those who need it. The £330 billion of UK Government support for businesses small and large will help us to get through this emergency together, protecting jobs and the economy while we work to tackle the coronavirus.

The Business Secretary, Alok Sharma, said:

Coronavirus has struck a heavy blow against businesses of all sizes across the UK. Expanding this scheme will provide larger firms with the support they need during the pandemic, helping to provide job security to thousands of people and protect our economy.

The UK Government will provide lenders with a guarantee of 80% on each loan to give lenders further confidence in continuing to provide finance.

The scheme will be available through a series of accredited lenders, which will be listed on the British Business Bank website.

This support complements the unprecedented help available for businesses large and small, including CBILS, CCCFF, tax deferrals, the Coronavirus Job Retention Scheme, cash grants for small businesses, and covering the cost of statutory sick pay.

The UK Government recognises many start up and early stage companies are facing challenges and are working with industry to assess these and consider further ways to offer support.

ENDS

• Only go outside for food, health reasons or work (but only if you cannot work from home)
• If you go out, stay 2 metres (6ft) away from other people at all times
• Wash your hands as soon as you get home

Do not meet others, even friends or family.

You can spread the virus even if you don’t have symptoms.

On 16 March 2020, the Prime Minister asked companies to help manufacture, design and build thousands of NHS ventilators in the fight against COVID-19.

The Prime Minister’s vision aimed to ensure that patients with impaired lung function had access to vital breathing equipment. He appealed to businesses across the UK to design, build and manufacture new, safe, easy-to-use ventilators at scale to increase capacity across the NHS.

The response

The response surpassed expectations, with the government receiving more than 5000 offers of support.

The challenge has been operating on a number of fronts, including the manufacture of existing ventilators, teaming up larger manufacturers with smaller bespoke ventilator makers to scale up production, as well as asking renowned engineers to design new ventilators.

Additionally, on 13 March the Medicines and Healthcare products Regulatory Agency (MHRA) published a specification, with subsequent revisions, on the minimum clinical standards acceptable for ventilator use in UK hospitals during the COVID-19 outbreak.

It is important that clinicians and engineers continue to work closely with one another as we begin to understand more about the nature of this virus.

All offers of support specifically relating to ventilators have been reviewed against the MHRA specification. A shortlist of organisations have taken designs to a Technical Design Authority, comprised of clinicians, regulators and engineers, where experts have reviewed the devices.

Next steps

Government is now working with a number of organisations and consortia on the accelerated production and distribution of different types of ventilators. Manufacturing of prototypes, both new designs and modified existing designs, is commencing. Once this is completed extensive testing to demonstrate they are safe, and meet clinical requirements, will follow.

In the short term, production and distribution of ventilators across the UK is expected to ramp up significantly, with thousands of new ventilators making their way to hospitals across Great Britain and Northern Ireland. If you have any queries relating to the ventilator challenge please email ventilatorchallenge@cabinetoffice.gov.uk