BHS creditors have received an interim dividend worth £36m from the retailer’s liquidators.
The unsecured creditors of BHS made claims worth almost £1bn following the collapse of BHS in 2016, Sky News reported.
BHS collapsed into administration in April 2016, a year after being sold for £1 by Arcadia tycoon Sir Philip Green to a consortium fronted by Dominic Chappell.
Most of the interim dividend was funded by an agreement in which Arcadia agreed to release a claim over a £35m floating charge related to BHS, a report by FRP Advisory, which is running the wind-down of BHS, showed.
According to the report, investigations into the circumstances of BHS’s demise are ongoing, but few details are made available because of their “sensitive and largely privileged nature”.
However, it states that an examination of the disposal of properties “that appear to have advantaged certain parties potentially at the expense of the company” is in progress.
FRP also said that it would scrutinise the “appropriateness of fees paid by the company in respect of advice received from professional advisers” – thought, according to Sky, to include law firms which have been criticised by MPs in the aftermath of BHS’s collapse.
Separate investigations continue into the demise of BHS by bodies including the Insolvency Service and the Financial Reporting Council.