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Pensions

Ex-BHS owner Chappell convicted

Ex-BHS owner Chappell convicted

Mark Dunne
Friday 12th January 2018

The ex-owner of bankrupt department store chain BHS has been found guilty of failing to provide information to The Pensions Regulator (TPR).

Dominic Chappell, a former racing driver who bought the company for ÂŁ1 from Sir Phillip Green, did not hand over information to the investigation into the sale and collapse of BHS, a court has found.

Despite denying the charges he was convicted of three charges of neglecting or refusing to provide information and documents without a reasonable excuse.

This included certain details on the acquisition of BHS by Retail Acquisitions and the participants involved as well as transactions involving BHS and Retail Acquisitions after the sale had been completed.

Chappell also failed to provide TPR with information about a possible unauthorised disclosure of restricted material.

He will be sentenced on the 19 January, but TPR’s anti-avoidance action against Chappell in respect of the BHS pension schemes continues.

TPR’s executive director of frontline regulation, Nicola Parish, welcomed the judgement.

“Dominic Chappell failed to provide us with information we had requested in connection with our investigation into the sale and ultimate collapse of BHS, despite numerous requests,” she added.

“The power to demand specific information is a key investigative tool in our work to protect people’s pensions. This conviction shows that the courts recognise its importance and that anyone who fails to co-operate with our information notices risks getting a criminal record.”

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