Ex-British Home Stores Owner Gets 10-Year Director Ban

Law360, London (November 5, 2019, 5:44 PM GMT) -- The former owner of a collapsed British retail chain has been banned from holding any company directorships for 10 years, a government agency announced Tuesday. 

Dominic Chappell used his company Retail Acquisitions Ltd. to purchase British Home Stores Ltd. from Philip Green in March 2015 for a nominal £1 ($1.30). The business collapsed just over a year later with a massive pension deficit, costing 11,000 jobs.

An insolvency judge handed down the lengthy disqualification following a hearing at the High Court on Oct. 14, the Insolvency Service said in a statement. Chappell had sought an adjournment of the hearing but was unsuccessful,...

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