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Challenges the extremely favourable position enjoyed by its financial creditors. 00:01
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At stake is billions of euros of bonds ring-fenced for the financial creditors. Image: Shutterstock
Another day in court and another grenade lobbed into Steinhoffâs carefully structured plan to carve up the groupâs limited cash and near-cash resources among seemingly unlimited creditor claims.
The latest court action, which overlaps the unexpected liquidation application brought by the former Tekkie Town owners, challenges the extremely favourable, and so far unchallenged, position enjoyed by Steinhoffâs financial creditors.
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