Few of the firms known to have played a formal part in the BHS sale have commented publicly on their role.Among the exceptions are the law firms that advised the two sides. Linklaters, which acted for Sir Philip’s Arcadia Group, said last week that its counterpart Olswang confirmed it “had carried out detailed due diligence on their client Dominic Chappell and that it had not raised any concerns in relation to impropriety”.

But Olswang appeared to contest this, telling the BBC’s Newsnight it “did not provide any reference to Arcadia on behalf of Dominic Chappell.”

Several financiers said law firms generally had limited obligations to look into the backgrounds of the parties involved in a transaction of this sort.

Source: BHS probe to shine light on advisers’ role – FT.com