Steinhoff announces settlement agreement with insurers and some former directors
A number of former directors, including former CEO Markus Jooste, are not part of the up to €78.1m agreement aimed at settling lawsuits
Embattled global retailer Steinhoff says it has reached an agreement of up to €78.1m (R1.37bn) with some of its former directors and their insurers, as it battles to settle lawsuits that threaten its survival.
The agreement with some of its former directors comes after Steinhoff announced in February it had reached an agreement with former auditor Deloitte. The deal, however, does not include former CEO Markus Jooste or former CFO Ben la Grange, who may still be the subject of claims from the group. ..