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McCann-supporter Sir Philip Green faces demands to repay £571 million 'stolen' from BHS pension funds - and calls for him to be stripped of his knighthood

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McCann-supporter Sir Philip Green faces demands to repay £571 million 'stolen' from BHS pension funds - and calls for him to be stripped of his knighthood

Post by Tony Bennett on 26.03.16 12:13

Not a few rogues have backed the McCanns.

There was Franisco Marco. Kevin Halligen. Antonio Giminez Raso. And Marcos Aragao Correia.

Is Sir Philip Green, a.k.a. 'Sir Topshop', about to become another?

Sir Philip's great contribution to the McCanns was to very publicly offer his private jet to fly the McCanns to visit the former Pope, Benedict XVI, the 'Holy Father'. That was at a time when the McCanns were universally styled in the press as 'devout Catholics':

Dr Gerald McCann and Dr Kate McCann board Sir Philip Green's private jet, on their way to see the Holy Father:

Premier photo agency Getty Images were of course called in by the PR teams of Sir Philip and the McCanns in order to record the trip [NOTE to Getty Images: Fair Use claimed]

The Mail article focuses on his actions whilst, for 15 years, he controlled ailing clothing company BhS. These included paying £400 million in dividends to his wife, money which it is argued should have gone into the BhS pension scheme. Furthermore, in 2005 he paid £1.2 billion (Yes - £1,200,000,000) in dividends to his wife - who is conveniently domiciled in Monaco - thus avoiding £300 million in tax, had she lived in the U.K.

He is alleged to owe the BhS pension funds a stunning £571 million - with BhS pensioners facing a loss of 10% or may be more in their pensions as BhS faces bankruptcy.  

Here's how the Mail headlined its story today:

* A £100m floating gin palace and the pension scandal that could scupper Sir Topshop: Philip Green faces calls to be stripped of his knighthood as he buys another yacht... while BHS teeters on brink of bankruptcy

* Tycoon Philip Green has bought his third luxury yacht, named Lionheart 

* It couldn't come at a worse time for BHS workers facing pension disaster

* If BHS goes bankrupt it won't meet pension commitments to 20,000 people

* Scandal has led to calls for Sir Green's knighthood to be stripped from him

* MP Frank Field says Government should focus effort to 'make him pay up'

Never mind, on the credit side, he helped the McCanns to meet the Pope.

[Memo to Sir Philip Green's legal advisers: If you're reading this, these are only allegations. The Daily Mail and I might have got it all wrong] 


The amazing symbiosis between bees and flowers:  

Tony Bennett

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Sir Philip Green,the new R Maxwell

Post by willowthewisp on 26.03.16 12:27

Hi Mr Tony Bennett, thanks for the posting,Love your comment,(tongue in cheek)about the need to protect your self from "Liable" after your run in with the special to be protected couple?
What happens to the money paid to his wife if she decides she has enough finances now to live on with the proceeds paid to her accounts, can the Employees seek redress from her shares from BHS, as it looks like another Captain Bob moment?

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Re: McCann-supporter Sir Philip Green faces demands to repay £571 million 'stolen' from BHS pension funds - and calls for him to be stripped of his knighthood

Post by Rogue-a-Tory on 27.03.16 23:10

The Pensions Regulator has a duty to stop special dividends to shareholders whilst a company an underfunded pension scheme. It has the powers to step in and stop this happening and to insist that the company pays more to the pension scheme in the form of additional deficit funding contributions. Has it been asleep on the job - again?

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