Thursday, 1 February 2018

Pensions watchdog hits ex-BHS owner Dominic Chappell with £10m bill

Dominic Chappell, the former owner of BHS, has been slapped with a £10m bill by pensions watchdogs as they try to recover money owed to the bankrupt retailer's retirement scheme.
Sky News understands that The Pensions Regulator (TPR) served a determination notice on Chappell last month to notify him that it is seeking the sum.
Under its rules, the three-times bankrupt was given 28 days - a period which is understood to expire within the next fortnight - to refer the order to the Upper Tribunal for the judgment to be reviewed.

If he does not refer the order, enforcement of the £10m demand would be pursued in the form of a contribution notice.

A TPR spokesman said: "Our separate anti-avoidance action against Dominic Chappell continues and TPR's Determinations Panel has made its determination.

"We will publish the outcome as soon as it is appropriate to do so."

TPR's demand adds to Chappell's troubles over the department store chain he bought for £1 from Sir Philip Green in 2015.

Chappell is due to be sentenced later this month after being found guilty in January for failing to provide the watchdog with information relating to BHS.

SKY                  News.