Chappell to sue Green over BHS
FORMER BHS owner Dominic Chappell plans to sue Sir Philip Green and contest a proposed boardroom ban in a bid to repair his “tarnished reputation” and resurrect his career.
The thrice-bankrupt businessman has lashed out at Insolvency Service plans to stop him from serving as a company director while taking no action against Sir Philip, saying the authority has “not got the guts to go after Green”.
He claims that the Government agency’s findings were at odds with parliamentary inquiries by business and pension committees that pinned BHS’ collapse on the billionaire tycoon.
Mr Chappell, who bought BHS from Sir Philip for £1 in 2015, said he had notified the agency that he would fight their proceedings, which could see him disqualified from serving as a company director for 15 years.
His rebuke came as he vowed to drag Sir Philip into the courtroom over the demise of the department store chain, and was laying the groundwork for legal action before the summer.
Speaking to reporters, Mr Chappell said he had been “singled out” by the Insolvency Service because “somebody had to take the blame for British Home Stores”. He said: “I think that it’s outrageous that the Insolvency Service have not got the guts to go after Green. “My reputation has been severely tarnished, and I intend to contest the Insolvency Service’s findings. Philip Green has got an army of class A lawyers that can just crawl right over this. I am an individual.”
The Insolvency Service announced on Tuesday that it had written to Mr Chappell and three other former BHS directors informing them of their intention to bring proceedings following its investigation into BHS. While the agency’s response draws a line under regulatory probes against Sir Philip, Mr Chappell said it was not over for the retail tycoon.
He said: “This matter is far from finished. I have been consulting lawyers with regards to next steps and I am looking at bringing on a full-blown suit against Philip Green.”
Mr Chappell, 51, was hit in February with a bill of around £10million by the Pensions Regulator after being convicted of failing to give information about BHS’s pension schemes to investigators after it collapsed.
Sir Philip Green and The Insolvency Service declined to comment.