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Sir Philip Green in High Court action over BHS

Sir Philip Green has started a legal battle with regulators over a probe into the audit of BHS’s accounts during the year before the chain was sold, it has been reported.

Sky News said this weekend that Green’s company, Taveta Investments, had allegedly made an “urgent application” for a judicial review aimed at forcing the Financial Reporting Council (FRC) to amend its report on the issue.

Arcadia Group parent company Taveta is thought to have applied separately for an injunction to prevent the watchdog from making public the details on Green’s business.

A hearing is understood to have been scheduled to take place at the High Court on Friday, but has been postponed after FRC lawyers requested more time.

Last week, the regulator imposed a fine on PwC, as well as a financial penalty and lengthy ban on Steve Denison, the audit partner responsible for BHS and Taveta accounts for the year to 30 August 2014.

Arcadia Group declined to comment. 

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