Steinhoff gets votes to finalise settlement proposal

Firm no longer faces mass of potentially crippling lawsuits

12 September 2021 - 11:16 By Nick Wilson

About 14 months after it first told the market of its proposal to settle most of the legal claims against it, Steinhoff has finally been given the green light to press on to what it hopes is the final phase of its €1.42bn (about R24bn) offer to claimants.

On Friday the company said all its claimants, in all four meetings held in terms of the proposal, had voted in favour of the deal. The question now is whether the worst is finally behind the group...

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