<!-- Swiftype Variables -->


U.K. court finds BHS owner withheld information from Pensions Regulator

A U.K. court ruled that Dominic Chappell, the owner of BHS, failed to supply information to The Pensions Regulator during the investigation into the collapse of the retailer, the regulator said in a news release Friday.

Brighton Magistrates' Court found Mr. Chappell guilty of three charges of neglecting to provide information and documents without a reasonable excuse to the regulator in 2016, the release said.

"The power to demand specific information is a key investigative tool in our work to protect people's pensions. This conviction shows that the courts recognize its importance and that anyone who fails to co-operate with our information notices risks getting a criminal record," Nicola Parish, TPR's executive director of frontline regulation, said in the release.

The verdict ends a criminal case against Mr. Chappell.

Separately, the U.K. regulator is pursuing a second action against Mr. Chappell over funding of pension plans sponsored by the retailer.

Following BHS' insolvency, the TPR launched separate so-called anti-avoidance cases in late 2016 against former owners Mr. Chappell and Sir Philip Green. Mr. Chappell bought the U.K. retailer in March 2015 for £1 from Mr. Green.

In March 2017, TPR reached an agreement with Mr. Green to provide funding for a new pension fund to replace two BHS pension funds: the £421 million ($571 million) BHS Pension Scheme and the £95.1 million BHS Senior Management Pension Scheme.

"Our determinations panel is considering evidence submitted by various parties (in the anti-avoidance action against Mr. Chappell) and is expected to be in a position to issue its written determination notice to affected parties in the coming weeks," a TPR spokesman said in an email. The spokesman declined to comment further.