The Western Cape High Court has prevented Steinhoff and its subsidiary, Pepkor Holdings, from selling or dealing in the shares of shoe retailer Tekkie Town, in a ruling handed down on Tuesday.
Van Huyssteen and a group of investors sold Tekkie Town to Steinhoff in 2016 in exchange for restricted shares in the furniture retailer. “In my view the applicants made a proper case for both urgency and the harm they seek to prevent,” said Judge Nathan Erasmus when handing down judgment.
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