The settlement was hailed as a victory for the Pensions Regulator, following months of deliberation over where responsibility for the collapsed retailer’s retirement scheme lay.
Mr Field said: “‘I welcome this intervention. I would plead not guilty to each of these trumped up charges. This drama has moved well and truly into its next act.”
The Pensions Regulator declined to comment.
The correspondence between the two parties on Thursday was just the latest in a series of clashes between Sir Philip and Mr Field.
Speaking to the BBC earlier this year, Mr Field had argued that Sir Philip was “the man that’s responsible for the destruction of 11,000 jobs, putting 22,000 pensions at risk”.
“He said he was going to ‘fix it, fix it, fix it’, when he was with us. He hasn’t done so.”