United Kingdom pensions regulator to prosecute former BHS owner

Dominic Chappell

Warning notices were sent out to Sir Philip and Mr Chappell in November previous year, setting out the arguments and evidence as to why the regulator believed they should support the BHS pension schemes.

The Pensions Regulator (TPR) is to prosecute Dominic Chappell, the former director and majority shareholder at Retail Acquisitions, for failing to provide requested information and documents to aid the investigation into the sale of BHS.

He has been summoned to appear at Brighton Magistrates' Court on 20 September to face the charges. Retail Acquisitions went into administration in April 2015.

Now TPR is prosecuting Chappell for not complying with three notices for information under Section 72 of the Pensions Act 2004.

The news come after The Pensions Regulator recently pledged to flex its muscles, saying in July that it "will not hesitate" to prosecute companies or individuals if they refused to hand over information.

Green eventually agreed to pay £363m to help plug this deficit.

RAL was put into liquidation earlier this year.

Under Chappell's tenure, £8.4 million was taken out of BHS by Retail Acquisitions, with £6 million still owed when it collapsed a year ago.

Frank Field, chairman of parliament's Work and Pensions Committee which interrogated both Chappell and Green as witnesses over the retailer's collapse, suggested the regulator was "frightened of landing the whale".

BHS PENSIONS RAP Who is Dominic Chappell?

"Why was Sir Philip Green allowed to get away with an inadequate settlement, in which pensions have been cut".

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