TPR hits ex-BHS owner with £10m bill

Dominic Chappell bought BHS for £1

clock • 1 min read

Former BHS owner Dominic Chappell has been issued with a £10m bill by The Pensions Regulator (TPR) as it seeks to recover money for the collapsed retailer's pension scheme.

Under TPR rules, the former bankrupt businessman was given 28 days (which is understood to expire within the next fortnight) to refer the order to the Upper Tribunal for the judgement to be reviewed, according to reports. The ex-BHS owner was found guilty last month for failing to provide information to TPR on three occasions. The watchdog had issued the former bankrupt tycoon with section 72 information-gathering notices relating to the retail giant's defined benefit pension schemes and the firm's takeover. However, when issued with each notice - in April 2016, May 2016 and Februa...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Identification remains weakest link in vulnerability assessments

Identification remains weakest link in vulnerability assessments

'Relying on the adviser to spot the signs personally is unquestionably impractical'

Jonathan Barrett
clock 26 November 2024 • 4 min read
Advisers revisit processes after FCA's retirement income review

Advisers revisit processes after FCA's retirement income review

Thematic Review of Retirement Income Advice released in March

Jenna Brown
clock 16 September 2024 • 2 min read
Two firms declared in default by FSCS over pensions advice

Two firms declared in default by FSCS over pensions advice

Both Oakwood Financial Management and GO IFA are no longer trading

Isabel Baxter
clock 11 April 2024 • 1 min read