ANN CROTTY: Markus Jooste’s Christmas reprieve
By nearly doubling the amount to be paid, Steinhoff directors succeed in corralling potential litigants into settlement deal
13 January 2022 - 05:00
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...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.