High Court Orders Ex-Directors to Pay £6.5m Each Over BHS Collapse

  • Two former BHS directors fined £6.5m each for wrongful trading and misfeasance
  • High Court ruling against Lennart Hennington and Dominic Chandler
  • Liquidators accused directors of breaching fiduciary duties before retailer’s collapse in 2016

Two former directors of BHS, Lennart Hennington and Dominic Chandler, have been fined over £12m each following a High Court ruling that found them liable for wrongful trading and misfeasance between March 2015 to April 2016. The liquidators accused the directors of breaching their fiduciary duties by continuing to trade instead of putting the retailer into insolvency process. Former owner Dominic Chappell, who is currently in jail for license breaches, also faces similar claims. A hearing will be held to determine further consequences.

Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about the High Court ruling against two former BHS directors and their fines for breaching fiduciary duties. It also mentions the claims against a third director who was unable to attend the trial due to ill health. The article is mostly focused on the main topic without any significant digressions or irrelevant details.
Noise Level: 3
Noise Justification: The article provides relevant information about the fines imposed on two former BHS directors for their role in the company’s collapse and the ongoing case against the third director. It also mentions the legal proceedings and potential consequences. However, it lacks in-depth analysis or exploration of broader trends or implications, as well as actionable insights or solutions.
Financial Relevance: Yes
Financial Markets Impacted: BHS and related companies
Financial Rating Justification: The article discusses a High Court ruling that fined two former directors of BHS, which has financial implications for the company and its stakeholders. The case involves financial matters such as wrongful trading, misfeasance, and breach of fiduciary duties, which can impact the value of the company’s assets and potentially affect the financial markets related to retail businesses.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the text.

Reported publicly: www.retailgazette.co.uk