This article is from the source 'independent' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.independent.co.uk/news/business/news/bhs-dominic-chappell-pensions-regulator-prosecuted-employees-philip-green-a7906771.html
The article has changed 5 times. There is an RSS feed of changes available.
| Version 3 | Version 4 |
|---|---|
| Former BHS owner Dominic Chappell prosecuted by Pensions Regulator | Former BHS owner Dominic Chappell prosecuted by Pensions Regulator |
| (35 minutes later) | |
| Former BHS owner Dominic Chappell is to be prosecuted for failing to provide information to authorities investigating the high street retailer’s collapse. Mr Chappell’s firm, Retail Acquisitions, bought the chain from Sir Philip Green for just £1 in 2015. | |
| BHS later closed its doors leading to the loss of 11,000 jobs and a £571m pension deficit. | BHS later closed its doors leading to the loss of 11,000 jobs and a £571m pension deficit. |
| The Pensions Regulator on Tuesday said that it had brought the case against Mr Chappell for non-compliance with three notices to supply evidence without a reasonable excuse. | The Pensions Regulator on Tuesday said that it had brought the case against Mr Chappell for non-compliance with three notices to supply evidence without a reasonable excuse. |
| He has been summoned to appear at Brighton Magistrates’ Court on 20 September. | He has been summoned to appear at Brighton Magistrates’ Court on 20 September. |
| Retail Acquisitions took £8.4m out of BHS during Mr Chappell’s tenure at the top of the company. | Retail Acquisitions took £8.4m out of BHS during Mr Chappell’s tenure at the top of the company. |
| Frank Field, who chairs the Parliamentary Work and Pensions Committee, said: “If the Pensions Regulator is frightened of landing the whale, I suppose going after the sprat is the next best thing. | Frank Field, who chairs the Parliamentary Work and Pensions Committee, said: “If the Pensions Regulator is frightened of landing the whale, I suppose going after the sprat is the next best thing. |
| “Why was Sir Philip Green allowed to get away with an inadequate settlement, in which pensions have been cut, yet Dominic Chappell is going to be sued? | “Why was Sir Philip Green allowed to get away with an inadequate settlement, in which pensions have been cut, yet Dominic Chappell is going to be sued? |
| “I’ll be consulting the House of Commons’ lawyers on when I can begin to unlock that puzzle, so that Mr Chappell has a fair trial.” | |
| The Serious Fraud Office and the Insolvency Service are each carrying out separate investigations into the demise of BHS. | |
| In February, Mr Green agreed to pay £363m as part of a settlement with the Pensions Regulator over the pension scheme deficit. | |
| The billionaire owned BHS for 15 years before selling it to Mr Chappell, a former bankrupt with no retail experience. Sir Philip had hoped that the settlement would draw a line under the long-running saga. | The billionaire owned BHS for 15 years before selling it to Mr Chappell, a former bankrupt with no retail experience. Sir Philip had hoped that the settlement would draw a line under the long-running saga. |
| The regulator is reportedly seeking a further £17m from Mr Chappell and Retail Acquisitions. Mr Chappell has said he would fight that legal action. | The regulator is reportedly seeking a further £17m from Mr Chappell and Retail Acquisitions. Mr Chappell has said he would fight that legal action. |