Markus Jooste arrives in parliament with heavy-hitting legal team
Former Steinhoff CEO Markus Jooste has come armed with two senior counsel and two attorneys for his interrogation by MPs regarding the collapse of the global furniture retailer’s share price.
Francois van Zyl SC and Jeremy Muller SC accompanied Jooste as well as attorneys Callie Albertyn and Salome van Zyl.
Jooste is appearing on the basis of an agreement reached with the acting secretary to parliament Penelope Tyawa and finance committee chairman Yunus Carrim that he will not have to answer questions regarding his role in the Steinhoff debacle which could prejudice him in any future civil or criminal proceedings.
In terms of the agreement, which was made an order of the Western Cape High Court, Tyawa agreed to withdraw the summons parliament issued against Jooste and he agreed to appear before the committees of finance, trade and industry, public accounts, and public service and administration.
Jooste agreed to be questioned in order "to identify any institutional flaws and challenges existing in the relevant financial regulatory framework or any implementation challenges in the financial regulatory framework which might have caused or given rise to the collapse of the value of Steinhoff shares".
Jooste has refused to appear voluntarily before parliament on the grounds that he was no longer CEO and could not answer questions on behalf of the group; and also because there was the possibility that he could prejudice himself in relation to any future criminal or civil cases.