It has been announced that the Pensions Regular will be suing former BHS boss Dominic Chappell for failing to provide information and documents requested by the regulator during the investigation of the sale of BHS. The trial will take place on September 20th at Brighton Magistrates’ Court.
Chappell’s Retail Acquisitions brought BHS for £1 in 2015 from billionaire Sir Philip Green. When BHS collapsed, 11,000 people lost their jobs and the company had a pension deficit of £571 million. Chappell’s Retail Acquisitions were put into liquidation earlier this year.
Sir Philip Green and Dominic Chappell were warned by a regulator about pension schemes just last year. Consequently, Green settled for £363 million to be given in cash to BHS pension scheme, which was reportedly an inadequate settlement, leaving many people with less money in their pensions than before.
It has been argued that Chappell should have a ‘fair trial’ given that Green got away without being sued, although he is thought by many as the key perpetrator in this BHS mess. For the majority, people will be pleased to see something done about an incredibly messy and for some upsetting, situation.
More details available about the upcoming court case available here: