Sir Philip Green, the former BHS boss, says the head of the Pensions Regulator gave MPs "incorrect" evidence.
The
regulator's chief executive, Leslie Titcomb, told a joint hearing on
Monday she learnt of the sale of BHS, then part of Sir Philip's Arcadia
retail group, through reading the newspapers.
Arcadia's company secretary has written on behalf of Sir Philip saying she was given advance notice of the sale.
Two committees of MPs are investigating the collapse of BHS.
BHS was sold for a £1 in March 2015 to a little known group of businessmen called Retail Acquisitions.
The
letter to the Work and Pensions Committee and the Business, Innovation
and Skills Select Committee said the regulator had been notified by
email on 6 February, 2015 that a decision had been taken to market the
sale of BHS.
She was also informed that "two parties had already expressed an
interest in a solvent transaction and that negotiations were ongoing
with both of them", according to the letter.
It goes on to say
that later in February 2015, the BHS pension scheme trustees and their
advisers were made aware of the terms of the proposed sale and met the
proposed purchaser.
The
letter also states that Sir Philip understood that the trustees had
discussions about the sale with the regulator at the beginning of March.
The regulator then sought an urgent meeting to find out how the proposed sale could affect the BHS pension schemes.
The
letter said a meeting between Sir Philip and The Pensions Regulator
took place on 4 March, where they were made aware of the "key terms" of
the sale.
In other words, he claims, the Pensions Regulator knew
BHS was not only being sold, but also who to and for how much, a week
before the deal was eventually concluded.
Dividend questions
During
the lengthy parliamentary session, Ms Titcomb said she was unable to
answer specific questions about BHS because of her continuing
investigation.
Her team is looking into whether BHS' previous owners had avoided their financial obligations to the pensions schemes.
The letter also responded to questions raised by some MPs about the amount of dividend payments paid out by BHS.
The
letter said that a total of £423m had been awarded to directors but
that there had been no payments made for the past 12 years.
The payments reflected the "significant" profits the business had made for the three years to the end of 2004.
Former Trustees of the BHS pension scheme are due to appear before MPs later this month.
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