Phils new £100 Yacht
Phillip Green buys third YACHT despite BHS failing to meet pension commitments | Daily Mail Online
New Yacht for Sir Phil yet...
"During his 15 years in control of BHS, Sir Philip took more than £400 million out of the firm via special dividends paid to his wife Tina, who lives in the tax haven of Monaco. Though perfectly legal, the tax-efficient payments meant that cash which might otherwise have been used to bolster the pension fund or, indeed, to invest more in the firm’s long-term future, was instead funnelled into the family coffers. By then offloading BHS, at a time when it was losing around £85 million a year, Sir Philip was able to relieve himself of the duty (or ‘covenant’) to fulfil commitments to future pensioners who belonged to the by now troubled scheme".
Phillip Green buys third YACHT despite BHS failing to meet pension commitments | Daily Mail Online
New Yacht for Sir Phil yet...
"During his 15 years in control of BHS, Sir Philip took more than £400 million out of the firm via special dividends paid to his wife Tina, who lives in the tax haven of Monaco. Though perfectly legal, the tax-efficient payments meant that cash which might otherwise have been used to bolster the pension fund or, indeed, to invest more in the firm’s long-term future, was instead funnelled into the family coffers. By then offloading BHS, at a time when it was losing around £85 million a year, Sir Philip was able to relieve himself of the duty (or ‘covenant’) to fulfil commitments to future pensioners who belonged to the by now troubled scheme".
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