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 February 2017 – he had “neglected or refused to provide information and documents without a reasonable excuse”.
The judgement on 12 January came after a multi-day trial at Brighton Magistrates’ Court in January, where the court was told that Chappell had not been able to access documents once the firm was in administration because he and other staff had been “locked” out of the headquarters.
He also told the court that prior to his takeover, staff had been seen outside the building with an “industrial-sized shredder” and “bin bags of documents”, being put into it.
However, the court rejected these assertions, with district judge William Ashworth stating some of Chappell’s evidence “making no sense” or was “not credible”.
A TPR spokesperson 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.”
Chappell is due to be sentenced at Barkingside Magistrates’ Court on 23 February.