Belfast Telegraph

UK Website Of The Year

Sir Philip hits out at 'bizarre' parliamentary report

By Ravender Sembhy

Published 19/10/2016

Unhappy: Sir Philip Green
Unhappy: Sir Philip Green

Sir Philip Green has hit back at a parliamentary inquiry criticising his role in the collapse of BHS, calling an MPs' report on the retailer's demise "bizarre" and "unsupportable".

A review carried out by the tycoon's lawyers criticised the report, which holds Sir Philip responsible for leaving BHS with a £571m pension deficit, taking around £400m in dividends from the firm and for selling the business to serial bankrupt Dominic Chappell for £1.

It read: "These dividends were lawful and were paid at a time when the BHS pension schemes were in surplus. BHS was not sold until 10 years later.

" The law does not prevent a company from paying dividends because of a risk that the company might become insolvent many years later."

Belfast Telegraph

Your Comments

COMMENT RULES: Comments that are judged to be defamatory, abusive or in bad taste are not acceptable and contributors who consistently fall below certain criteria will be permanently blacklisted. The moderator will not enter into debate with individual contributors and the moderator’s decision is final. It is Belfast Telegraph policy to close comments on court cases, tribunals and active legal investigations. We may also close comments on articles which are being targeted for abuse. Problems with commenting?

Read More

From Belfast Telegraph