FORMER BHS owner Dominic Chappell has been ordered to pay £87,170 after failing to provide information about the firm’s pension schemes to investigators when it collapsed with the loss of thousands of[…] You have reached your limit of free articles Registered users get 5 regular articles and 1 free Premium article per week.
Regulator Abetting Corruption In Insurance Business Can’t Be Tolerated, Says SAT; Directs IRDAI To Look Into Complaint Of UK Broker Firm [Read Order]
IRDAI member guilty of abetting corruption, dereliction of duty, says SAT Holding a non-life member of Insurance Regulatory and Development Authority of India (IRDAI) responsible for aiding and abetting corruption in the insurance business, the Securities Appellate Tribunal has directed the regulator to relook into the complaint of a United Kingdom-based broker firm alleging demand and receipt of kickbacks for diversion of reinsurance business from it. SAT’s presiding officer Justice JP Devadhar and member Dr C KG Nair also held IRDAI’s non-life member PJ Joseph of abusing the process of law and dereliction of duty in disposing of the complaint made…... [Read more]
The businessman at the helm of BHS when it collapsed is facing an unlimited fine after being convicted of failing to co-operate with The Pensions Regulator (TPR). Dominic Chappell, who bought the chain for £1 from Sir Philip Green a year before it entered administration, was convicted of three counts of neglecting or refusing to provide information and documents.During the four day trial at Brighton Magistrates Court, the prosecutor described how the case centred on official requests for information both before and after BHS collapsed.At that time, in 2016, 11,000 staff lost their jobs and the retailer had a pension…... [Read more]
Ex-BHS owner Dominic Chappell found GUILTY of failing to provide information to regulator over 19,000 workers' pension schemes
Former BHS owner Dominic Chappell has been found guilty of failing to hand over information about the firm's pension schemes to investigators after it collapsed. The 51-year-old was the director of Retail Acquisitions, the company that acquired BHS for £1 from billionaire Sir Philip Green in 2015. It went into administration in the following year with the loss of thousands of jobs and a £571 million pension deficit, although Sir Philip later agreed to stump up £363 million to plug the gap. Chappell's lawyer had argued that he was being made a scapegoat for the failings of others in the…... [Read more]
SHAMED former BHS owner Dominic Chappell has been found guilty of failing to provide information to the Pensions Regulator after the chain went bust.The businessman, who bought the doomed chain from Sir Philip Green for £1 a year before it collapsed, had claimed he did "everything and more" to help the watchdog.But his lies today unravelled and he was convicted of three charges under the Pensions Act 2004 after a four-day trial.During the course of the proceedings at Brighton Magistrates' Court the 51-year-old was described by his defence lawyer as a "scapegoat" in the wake of the chain folding.But he was found…... [Read more]
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…... [Read more]