Monday, October 16, 2017

Sir Philip Green fights back against Frank Field’s accusations

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Sir Philip Green has fought back at accusations of corporate misconduct and calls by MPs to remove his knighthood in a letter to Frank Field.

As the public showdown between the Labour MP – who co-led the inquiry on the collapse of BHS – and Green continues to intensify ahead of today‘s parlaimentary debate, Green issued a letter to his adversary as seen by the BBC.

Green accuses Field of defaming himself and Arcadia Group in an interview with Channel 4 news on Tuesday. 

RELATED: Sir Philip Green: selling BHS an “honest mistake” but 2008 crash blamed for pension deficit

It refers specifically to Field saying Green was “running Arcadia into the ground like BHS” and that Arcadia staff’s pension fund was heading for cuts.

It continues to allege that Field pays no attention to the “inaccuracy” of his statements and that there is no justification for the accusations following the evidence presented to the committee by Lord Pannick QC and Mr Todd QC.

 

 

Today‘s debate is unlikely to come to a resolution on key issues, as the House of Commons does not have the power to strip Green of his title, even if it reaches a vote on whether this should be the case.

In addition, in light of the evidence presented to the committee, it is unlikely any legal case for Green to put more money into the pensions scheme will be found. 

John Ralfe, an independent pensions expert who acted as an adviser to MPs in their inquiry told The Guardian: “None of the documents that have been published on BHS show a smoking gun. If the regulator decides it has a weak legal case it won‘t pursue legal action.”

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