News1 min ago
Does Green Deserve An Apology?
17 Answers
http:// www.bbc .co.uk/ news/bu siness- 3688981 9
Personally I think the comparison with Maxwell has some merit.
Personally I think the comparison with Maxwell has some merit.
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For more on marking an answer as the "Best Answer", please visit our FAQ.I'm glad that someone has brought up the BHS issue.
There has now been a Report published by both Committees ::
https:/ /www.pa rliamen t.uk/bu siness/ committ ees/com mittees -a-z/co mmons-s elect/w ork-and -pensio ns-comm ittee/n ews-par liament -2015/b hs-repo rt-publ ished-1 6-17/
Here are the main conclusions ::::
http:// www.pub licatio ns.parl iament. uk/pa/c m201617 /cmsele ct/cmwo rpen/54 /5409.h tm?utm_ source= 54& utm_med ium=crb ullet&a mp;utm_ campaig n=modul ereport s
Its quite clear that Green was at fault right from the beginning.
He systematically extracted hundreds of millions of pounds from BHS, paying very little tax, and fantastically enriching himself and his family, leaving the Company and its pension fund weakened to the point of the inevitable collapse of both.
In 2000. Green bought the business with a £43m surplus in its pension scheme and paid his family dividends far in excess of BHS's profits.
In 2015, having failed to fund the schemes adequately or complete a restructuring to the satisfaction or the Regulator, he sold BHS with a £345m pension shortfall. He sold the business to Dominic Chappell, twice bankrupt and wholly out of his depth.
I can't see that Frank Field has anything to apologise for.
Green should pay up and shut up.
There has now been a Report published by both Committees ::
https:/
Here are the main conclusions ::::
http://
Its quite clear that Green was at fault right from the beginning.
He systematically extracted hundreds of millions of pounds from BHS, paying very little tax, and fantastically enriching himself and his family, leaving the Company and its pension fund weakened to the point of the inevitable collapse of both.
In 2000. Green bought the business with a £43m surplus in its pension scheme and paid his family dividends far in excess of BHS's profits.
In 2015, having failed to fund the schemes adequately or complete a restructuring to the satisfaction or the Regulator, he sold BHS with a £345m pension shortfall. He sold the business to Dominic Chappell, twice bankrupt and wholly out of his depth.
I can't see that Frank Field has anything to apologise for.
Green should pay up and shut up.
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