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Steinhoff gains approval for lawsuit settlement proposal

South African retailer Steinhoff International on Monday said it had gained approval for its proposed lawsuit settlement offer to claimants who lost money when it revealed holes in its accounts in December 2017.

By Nqobile Dludla

7 Sep 2021

Source: Reuters/Mike Blake

Source: Reuters/Mike Blake

The proposal gained the required 75% approval from creditors and claimants, moving the group closer to finalising a deal that has been a major headache since the company's restructuring.

Source: Reuters

Reuters, the news and media division of Thomson Reuters, is the world's largest multimedia news provider, reaching billions of people worldwide every day.

Go to: https://www.reuters.com/

About Nqobile Dludla

Reporting by Nqobile Dludla; Editing by David Goodman

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