Christmas came early for Steinhoff’s former nonexecutive directors. Four years and a week after the release of the "irregular accounting" statement that shook the SA investment community and dominated business headlines for much of the following 48 months, the slight chance of any of them being held to account in a court of law faded almost completely.

The December 15 news that Steinhoff had brought the last of the creditors/shareholders into its settlement deal must have sparked huge celebrations among the former directors...

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