Steinhoff 2.0 takes Reserve Bank to court
Central bank blocks R9bn repayment to foreign creditors
26 August 2024 - 05:00
Ibex Group, formerly Steinhoff, has taken the SA Reserve Bank to court after the Bank reneged on its approval to allow R9bn of funds to be used to repay foreign creditors who agreed to extend the maturity of their loans to the company.
This helped prevent an uncontrolled liquidation and the loss of up to 50,000 jobs in SA after Steinhoff crashed in 2017...
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