Chappell headed Retail Acquisitions, the company that acquired BHS for £1 from Sir Philip Green in 2015. The Pensions Regulator is prosecuting Chappell for failing to comply with three notices for information issued under section 72 of the Pensions Act 2004. The regulator has already agreed a £363m cash settlement with Green to rescue the BHS pension scheme and halted legal proceedings against the billionaire. However, it is understood to be seeking as much as £17m from Chappell and Retail Acquisitions in relation to the scheme. Although the regulator can legally force Chappell to make a payment, he can take an appeal against such a decision to the supreme court.

Source: The Guardian August 22, 2017 11:23 UTC