Sir Philip Green’s overseas assets could be plundered by The Pensions Regulator as it bids to secure payments promised to the Arcadia pension scheme.

Green and his wife Lady Tina Green have vowed to provide a £100m cash payment into the fashion group’s pension black hole, in addition to £75m over three years from Arcadia Group coffers.

The promises were made as Green sought to placate creditors ahead of Arcadia’s company voluntary arrangement (CVA). The plan to slash rents and shutter a number of stores was voted through by creditors, despite a revolt from a number of landlords, including Intu.

However, the proposals are subject to final approval on Wednesday, according to the Commons Work and Pensions Select Committee.

The committee’s chair, Frank Field, told The Press Association that Green should “stump up” the necessary amount “from his family coffers”.

The Arcadia pension scheme has almost 10,000 members across its Topshop, Topman, Burton, Dorothy Perkins, Miss Selfridge, Evans and Wallis businesses. According to the Work and Pensions Select Committee, it is running at a deficit of between £537m and £727m.

The Pensions Regulator’s chief executive Charles Counsell wrote to Field earlier this month saying: “Providing that the CVA is successful, TPR will have direct rights under the arrangements with Lady Green to enforce her obligation to pay the promised sums to the Arcadia schemes.

“More generally, TPR’s powers are not restricted by jurisdiction, and we have pursued parties located overseas in the past.”

Field said: “Following the committee’s intervention, this is the first time TPR has confirmed it could pursue the Greens’ assets overseas to make good on the CVA promises.

“But that still leaves a worrying amount tied to Arcadia’s fortunes. It is for Sir Philip Green to prove he can make a success of Arcadia, but to prove his commitment to Arcadia’s staff and pensioners, he could promise now also to stump up the rest from his family coffers.”

Separately, Green has won a legal challenge against a group of American landlords, following the collapse of Topshop US.

A group of five landlords, led by Vornado, had claimed that Arcadia “manipulated and gerrymandered” its CVA.

The landlords asked the court to hold Arcadia’s US assets and proceeds from the liquidation in “escrow to stop the company funnelling cash back to the UK”.

However, Arcadia has won the £100m legal row and can now move cash generated from liquidating Topshop US stock back to the UK.

According to Sky News, the money will be used to help repay debts owed to creditors.