MORE PARTIES JOIN THE FRAY
Christo Wiese sticks to his guns as the Steinhoff mess gets bigger
As lawsuits pile up against Steinhoff International — with banker GT Ferreira and Tekkie Town’s vendors joining the fray – former chairman Christo Wiese insists that he has a strong case against the embattled retailer. The claims lodged by Wiese, Ferreira and Tekkie Town’s vendors add up to more than eight times Steinhoff’s value on the JSE. Dutch investors have said that country’s laws would prevent Wiese’s R59bn claim from being upheld, since he had been a Steinhoff director when he invested in the company through Titan Group in 2015 and 2016. "I would not have launched this action if I did not have very strong advice [to do so] and felt very strongly about it," Wiese told Business Day. "The point you’ve got to concentrate on is that the action has been brought in SA." Wiese said he had not been in contact with Steinhoff’s board, but was waiting for the board to file its defence against the summons he had served. All means necessary Steinhoff said it would "use all means and resou...
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