The Pensions Regulator (TPR) has demanded Dominic Chappell, former owner of BHS, pays around £10m into the company's pension scheme.
FTAdviser understands the watchdog issued a determination notice against Mr Chappell in January.
Under the regulator's rules, Mr Chappell has 28 days from the date of issuance of the notice to refer the order to the Upper Tribunal for the judgment to be reviewed.
The Pensions Regulator's spokesman said: "Our separate anti-avoidance action against Dominic Chappell continues and The Pensions Regulator's determinations panel has made its determination.
"We will publish the outcome as soon as it is appropriate to do so."
The thrice bankrupt Mr Chappell bought BHS from billionaire Sir Philip Green for just £1 in March 2015.
But just days later, The Pensions Regulator demanded hundreds of documents in relation to the £571m pension blackhole at the high-street chain.
BHS went into administration in April 2016, putting workers' retirement nest eggs at risk and The Pensions Regulator has been investigating the case since.
In the end, a £363m settlement with Sir Philip was reached to fund a new independent pension scheme for 19,000 former BHS workers.
Last month, The Pensions Regulator secured a criminal conviction against Mr Chappell, who was charged with neglecting or refusing to respond to three Section 72 notices plus demands he hand over vital documents and information to them relating to the purchase of the company.
In the first ever prosecution of its kind under these charges, Mr Chappell was hauled before the courts to answer the allegations.
Mr Chappell's sentencing hearing has been scheduled for 23 February at Barkingside Magistrates Court in London.
maria.espadinha@ft.com
