Sir Philip Green and his wife face a demand for hundreds of millions of pounds to fill the BHS pensions hole after the regulator took unprecedented action.
The fascinating bit is going to be how much will they try to ding him for?
Because they are going to have to follow the law, not whatever fantasy Frank Field has in his head. That pension scheme was fine after the dividend. So it’s not that. The pension scheme has got a lot worse after he sold. So maybe he’s not responsible for that? The full £700 million is hugely influenced by BoE interest rates. Is he responsible there?
Just how much will he be dinged for then?