High Court approves Steinhoff's R25bn payout

2022-01-24 01:18:00 PM

High Court approves Steinhoff's R25bn payout

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High Court approves Steinhoff's R25bn payout

The High Court in the Western Cape granted the embattled retailer an order to settle claims worth R25-billion on Monday.

hundreds of litigants will finally be compensated for their losses.The High Court in Cape Town granted the embattled retaileran order to settle claims worth R25-billion on Monday.READ:The settlement proposal was already sanctioned in the Netherlands last year where Steinhoff is domiciled.

With former shareholders having dropped their opposition to the proposal,the court says there is no reason not to grant Steinhoff’s request.It also means that the retailer staves off bids to have it liquidated.

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Court gives final approval to R24bn Steinhoff settlementThe ruling allows the controversy-mired conglomerate to put more than two years of legal wrangling, and R184bn in claims, behind it Thank you for the great review that we had the other day. You made it easier for me to understand crypto trade. earn 🙌 R75k$ with the help of MichaelWeldon_ After the fall of Saudi Arabia & Turkey, Islam will rise again in the world through Pakistan. Under Imam Al-Mahdi Pakistan will progress in a short amount of time, and lead the revival for Muslims across the world. Could Muhammad Qasim be Imam Al-Mahdi?

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Four years since Steinhoff’s share price crashed amid accounting fraud, hundreds of litigants will finally be compensated for their losses.24 January 2022 - 11:20 Katharine Child 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.23 January 2022 - 17:20 By Ella Ceron and Jeannette Neumann To many, fashion editor André Leon Talley, who died on January 18 at 73, was singular.Liquidators of the Mirror Trading International (MTI) bitcoin scheme suffered two defeats in recent weeks in the Western Cape High Court, after judges rebuffed their efforts to recall several of the prime beneficiaries for questioning in a Section 417/418 enquiry.

The High Court in Cape Town granted the embattled retailer an order to settle claims worth R25-billion on Monday. READ: The settlement proposal was already sanctioned in the Netherlands last year where Steinhoff is domiciled. . With former shareholders having dropped their opposition to the proposal, the court says there is no reason not to grant Steinhoff’s request. “He was quite a figure, and quite a striking figure,” said supermodel Beverly Johnson. It also means that the retailer staves off bids to have it liquidated. B Premium This article is reserved for our subscribers. Source . The FSCA found no evidence of any successful trading that could account for returns like this.