Zitat: "Private Broker"
Quelle: https://www.ariva.de/forum/steinhoff-informationsforum-577450?page=210
"…auch von meiner Seite aus wünsche ich ein frohes neues Jahr @ all… Nun, hinblicklich „des frohen neuen Jahres“ dürfte sich in 2022 auch hier ein gewisser Frohsinn einstellen da 2022 wohl im Zeichen der „Wertaufholung“ (nein, dies ist kein neues, bis dato unbekanntes Sternzeichen) stehen wird…
Grundsätzlich -als nicht anders zu erwarten- wird Step 3 in den Fokus rücken, & hier dürften sich an einigen Stellschrauben (soweit nicht bereits geschehen (man munkelt, dass Step 2 & 3 nicht in Reihe, sondern parallel geschaltet sein sollen (wie komme ich eigentlich jetzt von Aktien zur Elektrotechnik? ;-) ))) durchaus Veränderungen ergeben…
Wie auch immer, es wird sich dieses Jahr eine Menge ereignen & da wir noch am Anfang dieses Jahres stehen, greife ich mal meine olle „Arbeitshypothese“ (Stichwort: Wertschöpfungsebenen) auf… …anbei für alle, welche erst n paar Jahre später hier auf Sendung gegangen sind, ein Link (in die Vergangenheit)…https://www.ariva.de/forum/...dings-n-v-531686?page=7393#jump25943952…bzw. hier die (absolute) Kurzfassung: jene Verbindlichkeiten von Steinhoff stellen einen Wert da, Steinhoff an sich, als Unternehmen mit diversen Beteiligungen, stellt auch einen Wert da, so, nun hätte man seinerzeit (im (oder ab dem)Frühjahr 2018) die beiden vorgenannten Werte einfach gegeneinander laufen lassen können, sprich Steinhoff (per Firesale der existenten Beteiligungen) liquidieren, den resultierenden Erlös den Gläubigern auf’s Konto beamen & in der Zentrale von Steinhoff in Stellenbosch ne Dönerbude aufmachen können… …der Haken an der Nummer wäre jedoch jener gewesen, dass die Gläubiger keinen Fun an der Kiste gehabt hätten (da wären auf Gläubigerseite wohl n paar Mücken abzuschreiben gewesen), die Altaktionäre hätten (hatten sie auch ein paar Jahre nicht, dies darf ich an dieser Stelle wohl konstatieren) auch keinen Spaß an der Kiste gehabt (bye bye Steinhoff, RIP) kurz & (im vorgenannten Falle weniger) gut: die Hütte wäre platt gewesen & so ziemlich alle (mit Ausnahme jener, welche die Assets von Steinhoff zum Freundschafts- (Firesale-) preis gekauft hätten) hätten ziemlich alt ausgesehe
... keep reading on reddit ➡September 4, 2021 - Steinhoff International Holdings NV (ISIN: NL0011375019) is in a strange waiting situation: The claims for damages, which are always seen as the biggest, potentially existential problem, are closer than ever to a solution thanks to the comprehensive approval at ALL creditors' meetings. To this end, the Amsterdam District Court yesterday - as expected - "waved through" the settlement plan unanimously approved by the 15 creditors 'representatives at the creditors' meeting in Amsterdam.
OK of the Amsterdam District Court on the result of the vote means?
The Dutch protective shield proceedings are lifted, the trustees appointed by the court terminate their duties and the Dutch arm of the settlement agreement becomes binding. BUT be careful: First of all, this applies if no objection should be lodged within the next 8 days from the decision and if - which is generally clear - the South African arm of the settlement (regarding the South African Steinhoff Ltd. - forerunner of the NL Holding) becomes legally valid .
So you see Preez taken another step towards the goal - but not the last!
Louis du Preez, CEO of Steinhoff International Holdings NV sums up the result as follows: “While our task is not yet complete, this judgment is a further significant milestone in concluding the global litigation settlement. With the decision of the Dutch committee of representation and the Court, together with the positive voting in all of the recent claimant meetings in South Africa, we have seen overwhelming support for our global settlement proposal. We will continue to work on the final approvals required that will allow us to deliver the financial compensation detailed in the settlement proposal. "
Sure: overwhelming approval, but not from everyone. The ex-owners of Tekki Town could become dangerous with their application for the liquidation of the Steinhoff Group in front of the Western Cape Highcourt. And - as you Preez well know - a release of the South African settlement / vote on the settlement proposal will probably only be released by the competent chamber of the same court when the "other matter" has been decided. So at least the current applications before the high court.
Du Preez does not me
... keep reading on reddit ➡https://www.businesslive.co.za/fm/...off-grinds-towards-a-conclusion/ (dank google translater übersetzt sorry besser geht nicht)
With just one court case left to go, Steinhoff is within inches of a settlement that may put the fallout from Markus Jooste?s years of "financial irregularities" behind it.
Facing lawsuits in Europe and SA from thousands of shareholders who lost a collective R200bn in the country?s biggest fraud, Steinhoff has spent two years in "extensive efforts" to reach a settlement. In the process, it has garnered support from thousands of claimants for a deal, worth R24bn in cash and Pepkor stock, that should stop it collapsing under the weight of court cases.
This week, the settlement became final in the Dutch courts, which approved the deal on October 2. However, the Dutch process is still reliant on the SA settlement becoming law. And there are four individuals who could yet scupper a resolution.
They include Tekkie town boss Bernard Mostert and his partner Braam van Huyssteen, who sold their business to Steinhoff for R1.8bn in shares. Another is lawyer Jan Lamprecht, who lost R6m in stock. Last is former Pepkor CEO Pieter Erasmus.
Mostert argues that if the settlement goes through, it stops him filing any lawsuits against Steinhoff. That would in turn prevent him from pursuing a separate lawsuit, in which he is trying to get Tekkie Town returned to him from Steinhoff subsidiary Pepkor, as he believes it was taken fraudulently.
He also opposes the deal on "moral" grounds, saying it will stop further investigation into the fraud that upended Steinhoff, and result in Jooste?s accounting shenanigans being swept under the carpet.
Steinhoff has tried to have the approval heard in the Cape Town court that hears urgent matters, while ordinary court was in recess in the last week of September. But it failed, despite Steinhoff CEO Louis du Preez suggesting in court papers that delays could "imperil the process", arguing that once the Dutch process was completed, the law in the Netherlands required the settlement to be implemented immediately, or Dutch claimants could have it struck down.
If there was no deal, this might result in decades of multicountry litigation, and appeals and uncertainty that could collapse the company.
Said Du Preez in court papers: "It is time for the saga to be brought to an end."
... keep reading on reddit ➡STEINHOFF International Holdings has gained the approval of a Dutch court to compensate shareholders who lost their monies when the company’s share price went bust in 2017.
The company said last week that the District Court of Amsterdam had issued an order confirming its proposed global settlement. The group said the settlement plan would become binding following an eight-day period if no appeal was lodged within that period.
Steinhoff chief executive Louis du Preez said: “While our task is not yet complete, this judgment is a further significant milestone in concluding the global litigation settlement.
“With the decision of the Dutch committee of representation and the court, together with the positive voting in all of the recent claimant meetings in South Africa, we have seen overwhelming support for our global settlement proposal,” said Du Preez.
A South African court needs to also approve the settlement. The Western Cape High Court is scheduled to hear Steinhoff’s sanction application at the end of the month.
The majority of South African shareholders gave their support for the proposed settlement in creditors’ class meetings held earlier this month.
Steinhoff is facing legal claims amounting to more than R130 billion for the share price collapse when former chief executive Markus Jooste quit and accounting regularities came to light in December 2017.
Steinhoff, the majority owner of Pepkor in Africa and Pepco in Europe, proposed a global settlement that will see it paying out R25 billion to shareholders.
The settlement is expected to allow management to focus on the ongoing restructuring and improving the group’s underlying businesses. Steinhoff’s plan to address its corporate scandal faces a major hurdle as the founders and former owners of shoe retailer Tekkie Town want the group to be liquidated.
Former Tekkie Town owners and management have asked the court to liquidate Steinhoff and its subsidiary Pepkor after they were “duped” to accept restricted Steinhoff shares in exchange for a controlling interest in Tekkie Town.
Earlier this month Steinhoff announced it had raised R7.3bn from the sale of 370 million Pepkor shares
... keep reading on reddit ➡The Constitutional Court has refused Steinhoff's application for leave to appeal a ruling by a lower court that found it has jurisdiction to hear a liquidation case against the retailer.
Steinhoff approached South Africa's apex court on an urgent basis in late September in a bid to stop the Western Cape High Court from hearing an application to have it liquidated.
The winding-up application was brought by the former owners of shoe retailer Tekkie Town, who say Steinhoff's former CEO Markus Jooste "duped" them into selling their business.
Steinhoff lodged its application with Constitutional Court after the high court ruled that it has jurisdiction to hear the winding-up case. It has also lodged a separate application with the Supreme Court of Appeal.
In a short statement, the Constitutional Court said it had considered Steinhoff's application for leave to appeal directly to it and concluded it should be dismissed as it is "not in the interests of justice to grant leave to appeal at this stage".
Steinhoff had argued that, as an "external company" under the Companies Act, it cannot be wound up by a South Africa court. It has also argued that the liquidation case deals with new legal territory that has not yet been tested before a court.
But the group's arguments did not convince Western Cape High Court Judge Hayley Slingers, who ruled the high court has the proper authority to hear the case.
While the apex court will not hear the appeal at this stage, the Western Cape High Court is expected to hear the application for leave to appeal next week.
Meanwhile, as Fin24 reported on Thursday, the Western Cape High Court is only expected to only hear a separate application by Steinhoff to approve its €1.4 billion (~R25 billion) settlement plan in January next year.
The three-month delay caused the group's share price to fall from around R2.80 at lunchtime on Thursday to R2.34 at the same time on Friday.
Das Verfassungsgericht hat den An
... keep reading on reddit ➡- Lawyers for Steinhoff say the retailer will approach the Constitutional Court as it seeks to postpone a liquidation hearing.
- The winding-up application was brought by the former owners of shoe retailer Tekkie Town, who say Steinhoff's former CEO Markus Jooste 'duped" them into selling their business.
- While the liquidation hearing started this week in the Western Cape High Court, Steinhoff wants it postponed so it can lodge an appeal.
Retailer Steinhoff has said it would take its fight to postpone the liquidation hearing it is facing to the Constitutional Court.
Steinhoff wants the liquidation bid to be put on hold so that it can argue for leave to appeal an earlier ruling that found the Western Cape High Court has jurisdiction to hear the case.
In its view, as an "external company" under SA law, it cannot be wound up by a local court. But this objection was dismissed by Western Cape High Court Judge Hayley Slingers earlier in the month. Her ruling meant the liquidation case could proceed.
The winding-up application was brought by the former owners of shoe retailer Tekkie Town, who argue they were "duped" by Steinhoff's former CEO Markus Jooste into swapping valuable shares in the footwear chain for stock in Steinhoff.
While Steinhoff is seeking to approach the Constitutional Court, the former owners of Tekkie Town have promised to oppose a separate court hearing to sanction Steinhoff's global settlement proposal.
As Fin24 reported earlier in the week, Steinhoff has applied to the Western Cape High Court to approve its R25 billion settlement proposal, with its CEO Louis du Preez saying it is "time for this saga to be brought to an end". The group has said it may need to be liquidated if the settlement proposal falls through.
The hearing to sanction voting by claimants, which took place last week, has been se
... keep reading on reddit ➡Feelin' ☀️S U M M E R Y ☀️
Tracklist:
- Pole Folder & CP - Dust (Flash Brothers Remix)
- 4Mal - Twilight (Intro Mix)
- Madoka - Altered (Shiloh's Afrothunder Mix)
- Damien Heck - Morning After (D's Futurology Mix)
- Perry O'Neil - Fuel
- The PQM Project - Babe I'm Gonna Leave You (Markus Schulz Pass)
- Daniel Delay & Jeremy Duplaix & Muzzaik - Bodyshine 2010
- Matthew Dekay & Proluctors - BAD
- Wippenberg - Chakalaka
- Space Manoeuvres - Quadrant Four (Sonorous Mix)
- Joost Van Der Vleuten - New Horizon
- Shingo Nakamura - Alice In Wonderland
- Lolo - Laia's Daydream (Airwave Breaks Mix)
- Solarstone - Solarcoaster (Stoneface & Terminal pres. Gundamea Remix)
- Tilt - Twelve (Max Graham Remix)
- Descent - Clockwork
- Solid Sessions - Janeiro (Pronti & Kalmani Vocal Mix)
- Watergate - Heart Of Asia (James Holden Remix)
- Johan Gielen - C Me Trippin'
- Quivver - One Last Time (Quivver's Amityville Dub)
- ATB - Marrakech (A & T Remix)
- Most Wanted & Matt Cassar - Seven Days And One Week (Myon & Shane 54 Remix)
- Kuffdam & Plant - Summer Dream (Whiteroom Remix)
- Art Of Trance - The Horn (Quillroader Remix)
- Markus Schulz ft. Departure - Without You Near (Coldharbour Mix)
- Maor Levi - Reflect
- Neptune Project - Bioluminescence
- Thomas Datt - Manta Rays
- Nalin & Kane - Beachball (Vocal Mix)
- System F - Insolation (Ferry Corsten Remix)
- Kuffdam & Plant ft. Terry Ferminal - The Ones We Loved (Dogzilla Mix)
- Indoctrinate - Feeling You
- Terry Bones & Fred Baker pres. Water Planet - Return To Innocence (Mr. Sam's Tears In Heaven Interpretation)
- Airbase - Spion
- Above & Beyond - Anjunabeach (Nitrous Oxide Remix)
- Three Drives - Carrera 2
- Airwave - Venus Of My Dreams
- Mark Otten - So Serene (Menno de Jong Heading South Dub Mix)
- Elevation - Ocean Rain (Robert Nickson Remix)
- OceanLab - Sirens Of The Sea (Above & Beyond Club Mix)
- Progression - Sands Of Time
- John O'Callaghan pres. Mannix - Mercury
- Albion - Air (Ferry Corsten's Open Air Remix)
- Three Drives - Sunset On Ibiza (Above & Beyond Remix)
- Nautical Imagery - Distant Dreams (Alex M.O.R.P.H. Remix)
- The Thrillseekers with York ft. Asheni - Daydream (Will Atkinson Dreamy Mix)
- Goldenscan - Sunrise (Ronski Speed Remix)
- Blank & Jones - Perfect Silence (E-Craig's 212 Remix)
- J
Do your worst!
Zitat: "Private Broker"
Quelle: https://www.ariva.de/forum/steinhoff-informationsforum-577450?page=210
"…auch von meiner Seite aus wünsche ich ein frohes neues Jahr @ all… Nun, hinblicklich „des frohen neuen Jahres“ dürfte sich in 2022 auch hier ein gewisser Frohsinn einstellen da 2022 wohl im Zeichen der „Wertaufholung“ (nein, dies ist kein neues, bis dato unbekanntes Sternzeichen) stehen wird…
Grundsätzlich -als nicht anders zu erwarten- wird Step 3 in den Fokus rücken, & hier dürften sich an einigen Stellschrauben (soweit nicht bereits geschehen (man munkelt, dass Step 2 & 3 nicht in Reihe, sondern parallel geschaltet sein sollen (wie komme ich eigentlich jetzt von Aktien zur Elektrotechnik? ;-) ))) durchaus Veränderungen ergeben…
Wie auch immer, es wird sich dieses Jahr eine Menge ereignen & da wir noch am Anfang dieses Jahres stehen, greife ich mal meine olle „Arbeitshypothese“ (Stichwort: Wertschöpfungsebenen) auf… …anbei für alle, welche erst n paar Jahre später hier auf Sendung gegangen sind, ein Link (in die Vergangenheit)…https://www.ariva.de/forum/...dings-n-v-531686?page=7393#jump25943952…bzw. hier die (absolute)
Kurzfassung: jene Verbindlichkeiten von Steinhoff stellen einen Wert da, Steinhoff an sich, als Unternehmen mit diversen Beteiligungen, stellt auch einen Wert da, so, nun hätte man seinerzeit (im (oder ab dem)Frühjahr 2018) die beiden vorgenannten Werte einfach gegeneinander laufen lassen können, sprich Steinhoff (per Firesale der existenten Beteiligungen) liquidieren, den resultierenden Erlös den Gläubigern auf’s Konto beamen & in der Zentrale von Steinhoff in Stellenbosch ne Dönerbude aufmachen können… …der Haken an der Nummer wäre jedoch jener gewesen, dass die Gläubiger keinen Fun an der Kiste gehabt hätten (da wären auf Gläubigerseite wohl n paar Mücken abzuschreiben gewesen), die Altaktionäre hätten (hatten sie auch ein paar Jahre nicht, dies darf ich an dieser Stelle wohl konstatieren) auch keinen Spaß an der Kiste gehabt (bye bye Steinhoff, RIP) kurz & (im vorgenannten Falle weniger) gut: die Hütte wäre platt gewesen & so ziemlich alle (mit Ausnahme jener, welche die Assets von Steinhoff zum Freundschafts- (Firesale-) preis gekauft hätten) hätten ziemlich alt ausgesehen…Viel lukrativer hingegen ist die Nummer für
... keep reading on reddit ➡- The first day of a court hearing into whether retailer Steinhoff is insolvent was taken up with new intervention bids, arguments to postpone the matter, and applications to appeal earlier rulings.
- Lawyers for Tekkie Town, which is bringing the winding-up application, argued it was time to "get the matter on the road".
- But Steinhoff's legal team says the main proceedings cannot start until all the applications, including an appeal to the Supreme Court of Appeal, have been heard.
A slew of new intervention applications may further delay the start of a court bid to have retailer Steinhoff declared insolvent and placed into provisional liquidation.
The winding-up application was set down to be heard over two days this week starting on Tuesday. But in the end the court did not hear any evidence related to the state of Steinhoff's finances on day one. Instead, it dealt with matters relating to the interventions applications, as well a complex set of interrelated bids for postponement and applications for leave to appeal.
The liquidation bid is being brought by the former owners of Tekkie Town, who say they were "duped" by Steinhoff's former CEO Markus Jooste into swapping valuable shares in the footwear chain they built from scratch for stock in Steinhoff. But the value of their Steinhoff stock plunged in late 2017 at the first signs of an accounting scandal.
Last week, in the first leg of the case, the Western High Court ruled that it had jurisdiction to hear the liquidation bid, even though Steinhoff's ultimate holding company is registered in the Netherlands.
While Tekkie Town's lawyers said they were ready to start arguing the merits of the main application on Tuesday, lawyers for Steinhoff said it was still too early to begin.
Three new parties
The court on Tuesday heard that three new parties had applied to intervene in the case.
They are Steinhoff's former auditors Deloitte, Hamilton - which represents large SA fund managers - and a group called Demior Recovery Services, which says it is acting on behalf of 127 ap
... keep reading on reddit ➡Das lang erwartete Angebot der Eigentümer von Tekkie Town, Steinhoff liquidieren zu lassen, beginnt
Ein Gerichtsverfahren der ehemaligen Eigentümer des Schuhhändlers Tekkie Town, den Einzelhändler Steinhoff für zahlungsunfähig zu erklären und zu liquidieren, hat vor dem Western Cape High Court begonnen.
Die Kläger von Tekkie Town sagen, sie seien „überlistet“ worden, Aktien ihres erfolgreichen Schuhgeschäfts gegen Aktien von Steinhoff zu tauschen.
Am Mittwoch beschränkte sich die mündliche Verhandlung darauf, wer am Gerichtsverfahren teilnehmen konnte.
Das lang erwartete Angebot der ehemaligen Besitzer des Schuhhändlers Tekkie Town, Steinhoff liquidieren zu lassen, startete am Mittwoch vor dem Western Cape High Court, wobei Anwälte ihre Argumente darauf beschränkten, wer an dem Prozess teilnehmen darf.
Die ehemaligen Eigentümer der Schuhkette haben behauptet, sie seien „überlistet“ worden, ihre Anteile an dem „hochprofitablen, Cash-generativen Geschäft“ Tekkie Town gegen Steinhoff-Aktien zu tauschen.
Die Aktien des Einzelhändlers brachen Ende 2017 steil ein, als sein CEO Markus Jooste zurücktrat, als die ersten Anzeichen eines Bilanzskandals ans Licht kamen. Am Mittwochmorgen wurden die Aktien des Konglomerats 90 % niedriger gehandelt als am Vorabend von Joostes abruptem Rücktritt.
In Gerichtsakten haben die Kläger von Tekkie Town argumentiert, dass der Einzelhändler „tatsächlich und wirtschaftlich zahlungsunfähig“ ist und abgewickelt werden sollte. Steinhoff, der sich dem Antrag widersetzt, hat argumentiert, dass es nicht wirtschaftlich zahlungsunfähig ist, da es seine Schulden bei Fälligkeit begleichen kann.
Intervention
Am Mittwoch vertieften sich die gegnerischen Parteien nicht in die Begründetheit des Falls, sondern die vorsitzende Richterin Hayley Slingers hörte eher zwei separate Interventionsanträge.
Diese wurden von einer Gruppe eingebracht, die behauptete, die Finanzgläubiger von Steinhoff zu vertreten, und zwei Verwaltern, die Vergleichsverfahren in den Niederlanden beaufsichtigen.
Beide Streithelfer widersprechen dem Liquidationsantrag. Die mündlichen Verhandlungen werden am Donnerstag fortgesetzt, wenn Richter Slingers voraussichtlich Argumente darüber anhören
... keep reading on reddit ➡