A celebrity lawyer, Edward “Eddie” Parladorio, is accused of participating in the “outright plundering” of British Home Stores (BHS) before its 2016 collapse. Liquidators claim he acted as a “director in all but name,” misappropriating millions through improper loans, fees, and property deals. Parladorio, who represented Hugh Grant and Ulrika Jonsson, denies the allegations, calling them “extravagant” and based on a “slanted” view of evidence.
The case, seeking over £10mn, highlights Parladorio’s role in Retail Acquisitions Limited (RAL), the vehicle that bought BHS from Sir Philip Green for £1 in 2015. The collapse led to 11,000 job losses and a £571mn pension deficit, later partially covered by Green’s £363mn payment. Liquidators allege Parladorio siphoned £7mn from the sale of BHS headquarters, £2mn from a credit facility, and hundreds of thousands in VAT and financing fees.
While he attended 39 board meetings and was paid £32,000 monthly, Parladorio’s defense argues he was merely an adviser, not a decision-maker. Former BHS general counsel Dominic Chandler testified that Parladorio had no authority over him. The trial continues.
Source: Financial Times Companies · Summarized by HeadlinesBriefing