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Sir Philip Green’s £100m Superyacht Facing Seizure Under Plan To Help BHS Pensioners

The billionaire is believed to have offered £250m to help plug the BHS pensions deficit, around £100m less than the pensions watchdog has demanded.

A year before the high street chain collapse, Green sold it for £1 to former bankrupt Dominic Chappell.

Ahead of a grilling of Pensions Regulator Lesley Titcomb, the cross-party committee of MPs sent a letter on Tuesday setting out its latest plan to put the squeeze on Green.

Chairman Frank Field asked what powers the Regulator has to seize assets, other than cash, as part of any enforcement action seeking redress for the BHS pensioners.

He told HuffPost UK: “I very much hope The Pensions Regulator will make clear that, in trying to gain a favourable settlement for BHS pensioners, nothing is off the table.”

Article source: http://www.huffingtonpost.co.uk/2016/11/22/sir-philip-green-superyacht-seized-bhs-pensions-top-shop_n_13150356.html?utm_hp_ref=uk-politics&ir=UK+Politics