New evidence from a BHS auditing report by the Financial Reporting Council could prompt the Insolvency Service to reopen its investigation into the former directors of the collapsed retailer. According to The Times , the Insolvency Service’s chief executive Sarah Albon has written to the FRC to request more information on the findings within its report, as its initial investigations led to the conclusion that there was “insufficient evidence of directorial misconduct to justify disqualification proceedings”.
The last owner of collapsed department store chain BHS will appear in court today to face accusations of failing to hand over information to an investigation into the sale of retailer. Dominic Chappell was summonsed in August to appear at Brighton Magistrates‘ Court to face three charges of neglecting or refusing to provide information and documents to The Pensions Regulator without a reasonable excuse. The regulator said they requested information from Chappell on three occasions – twice in 2016 and once again last year.
The trial of three former Tesco executives over the £326 million accounting scandal in 2014 is due to start today. The grocer’s former UK boss Chris Bush, former finance director Carl Rogberg and former commercial director John Scouler – were charged last year with offences including false accounting and fraud by abuse of position. The trio, who have all pleaded not guilty, are due to stand trial at Southwark Crown Court today
Tesco has announced that it will reimburse around 10,000 shareholders who lost money during the 2014 accounting scandal.