Companies owned by Steinhoff’s Jooste fend off provisional liquidation
Companies owned by former Steinhoff CEO Markus Jooste are attempting to fend off a provisional liquidation application brought by Absa in the Western Cape High Court by applying for business rescue. Absa is seeking the provisional liquidation of Mayfair Speculators and freezing the assets of its holding company, Mayfair Holdings, pending the outcome of the provisional liquidation application. Both applications have been postponed by the Western Cape High Court. In her affidavit in the application for the freezing of assets of Mayfair Holdings, Absa manager for business support Hester van Niekerk rejected any attempt to seek business rescue for Mayfair Speculators when its debt of R226.3m plus interest was not disputed. "The only purpose for [applying for business rescue] is simply to delay the hearing of the liquidation application to afford the respondents [Mayfair Holdings and Mayfair Speculators] additional time to continue with the dissipation of assets," Van Niekerk said. She n...
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