Court gives final approval to R24bn Steinhoff settlement

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South Africa Headlines News

The ruling allows the controversy-mired conglomerate to put more than two years of legal wrangling, and R184bn in claims, behind it

The Cape Town high court approved the Steinhoff R24bn settlement on Monday morning, closing the chapter of litigation that once threatened to sink the controversial retail company.

Cape Town high court judge Rosheni Allie found the settlement was “fair and equitable”, and the approval now makes it binding on all claimants against Steinhoff. ..A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

 

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