Pensions Watchdog Can Chase Philip Green's Foreign Assets

Law360, London (July 8, 2019, 1:38 PM BST) -- Lawmakers said on Monday that Britain's pensions regulator has the power to target millionaire businessman Philip Green’s overseas assets and force his wife to pay money she has pledged to help plug his holding company’s pension deficit of more than £500 million ($625 million).

The Work and Pensions Committee said the watchdog, known as TPR, has confirmed that its powers "are not restricted by jurisdiction” and that it has “pursued parties located overseas in the past.”

TPR’s letter to the committee, dated July 3, comes after the cross-party panel asked the regulator to say whether it has the power to compel Arcadia...

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