Christo Wiese sues Steinhoff for R59 billion
I would think it’s obvious [when asked why he’s suing]. To recover the money I invested based on misleading information.Chriso Wiese
Markus, like many other high profile people, has his enemies… Did I ever see anything that indicated dishonesty? The answer is ‘no’.Chriso Wiese
Companies in Christo Wiese’s Titan Group have served summons on Steinhoff International Holdings (Pty) Ltd, registered in South Africa, and Steinhoff International Holdings NV, registered in the Netherlands, in respect of claims totalling R59 billion.
The claims relate to cash investments made by the Titan Group in Steinhoff in 2015 and 2016.
The companies claim cancellation of the agreement entered into with Steinhoff International Holdings (Pty) Limited in 2015 whereby the Titan Group subscribed for shares in Steinhoff following the acquisition of Pepkor Limited.
They now claim repayment of the subscription amount.
The second claim relates to the Titan Group’s capital injection into Steinhoff in 2016 to enable it to meet its debt obligations at the time of its acquisition of Mattress Firm in the US.
Listen to the interview in the audio below (and/or scroll down for more quotes from it).
Does anyone suggest that a Chairman can’t be misled?Chriso Wiese
To say I was ‘blinkered’ is putting it too strongly… It’s stretching the point a little bit…Chriso Wiese
I invested cash into the company… I was on the board for two years to see how the company was run… It was only then that I decided to make that very substantial investment…Chriso Wiese
I said in Parliament that I’ve lost 30 years of my life!Chriso Wiese
It would be fair to assume that it is highly unlikely that he [Markus Jooste] could’ve acted entirely on his own…Chriso Wiese
Markus’s style was certainly not Whitey’s style… I ascribed it to no more than that.Chriso Wiese
Don’t let me go on record making that kind of comment [when asked if his trust was betrayed].Chriso Wiese
…I was naïve… I never heard from him [Jooste] again to this day…Chriso Wiese
It is actually laughable… Christo Wiese knows there are shenanigans, but he invests R59 billion?! Do you think I am totally insane?Chriso Wiese
Prominent people from around the world has told me, ‘Don’t let this break your self-confidence, or make you bitter’…Chriso Wiese
Apparently a journalist called Christo Wiese a millionaire yesterday.— Khaya Sithole (@CoruscaKhaya) April 26, 2018
That was the final straw🙈🙈🙈#Steinhoff
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This article first appeared on 702 : Christo Wiese sues Steinhoff for R59 billion
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