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Why former Tekkie Town owners want Steinhoff liquidated


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Why former Tekkie Town owners want Steinhoff liquidated
For one thing, the ‘financial creditors’ – a third category of claimants – are set to receive the full face value of their debt.
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The applicants, who exchanged their stake in Tekkie Town for Steinhoff shares worth R1.85bn in 2016, say the proposed settlement offers them no ‘meaningful benefits’. Image: Moneyweb
The former owners of retail footwear and apparel company Tekkie Town have lobbed a grenade into Steinhoff’s complex plans to settle a swathe of multi-billion euro claims.
In a move that poses a major threat to Steinhoff’s financial creditors and the contractual claimants, former Tekkie Town owners – including founder Braam van Huyssteen and former CEO Bernard Mostert – have filed an urgent application in the Western Cape High Court to have Steinhoff liquidated. ....

South Africa , South African , Bernard Mostert , Markus Jooste , Sarah Radema , Braam Van Huyssteen , Van Huyssteen , Christo Wiese , Cape High Court , Frankfurt Stock Exchange , Tekkie Town , Western Cape High Court , Wednesday Steinhoff , Former Tekkie Town , கிறிஸ்டோ விேசெ , கேப் உயர் நீதிமன்றம் , பிராங்க்ஃபர்ட் ஸ்டாக் பரிமாற்றம் , மேற்கு கேப் உயர் நீதிமன்றம் , புதன்கிழமை ஸ்டெய்ன்ஹாஃப் ,