'Steinhoff is on the brink of collapse. Speed is of the essence!'

(Taken from Twitter.)

Speed is of the essence because Steinhoff is not in good health... Pursuing the claims solely against Steinhoff is risky. The company is on the brink of collapse…

Zain Lundell, LHL Attorneys

We’re going after entities who are complicit [not only Steinhoff]… We’re not here to try and bankrupt Steinhoff… there are a lot of defendants to go after…

Zain Lundell, LHL Attorneys

The longer the lawsuit against Steinhoff takes to wrap up the less likely it becomes that shareholders will recover any losses, according to the International Steinhoff Litigation Group.

The International Steinhoff Litigation Group is a collection of law firms representing Steinhoff shareholders from the US, the Netherlands, Germany and South Africa.

The Money Show’s Bruce Whitfield interviewed Zain Lundell of LHL Attorneys.

Lundell worries that competing individual cases sought by institutional shareholders may destroy the chance for a global solution, and may drive Steinhoff into bankruptcy.

Listen to the interview in the audio below.

Enjoy The Money Show, but miss it sometimes?

Get the best bits emailed to you daily, right after it ends:

Subscribe to our Business Wrap Newsletter


This article first appeared on 702 : 'Steinhoff is on the brink of collapse. Speed is of the essence!'


Recommended

by NEWSROOM AI
Read More
Stephen Koseff opens up about life after 40 years at Investec

Stephen Koseff opens up about life after 40 years at Investec

The Money Show’s Bruce Whitfield interviews Stephen Koseff about life at the helm of Investec.

Momentum to pay all violent crime claims, regardless of previous medical history

Momentum to pay all violent crime claims, regardless of previous medical history

The Money Show’s Bruce Whitfield interviews Johann le Roux, CEO at Momentum Life.

SA National Taxi Council (Santaco) buys 25% of SA Taxi for R1.7 billion

SA National Taxi Council (Santaco) buys 25% of SA Taxi for R1.7 billion

Bruce Whitfield interviews Maroba Maduma (SA Taxi) and Thulani Qwabe, Chief Business Development Officer at Taxi Choice.

Ermahgerd! Black Friday! It’s time to lose our sh**

Ermahgerd! Black Friday! It’s time to lose our sh**

It’s time for Black Friday, an imported tradition South African consumers have made their own, says Kali Moahloli of GfK SA.

'The universe is an extremely high-risk investment by the Creator'

'The universe is an extremely high-risk investment by the Creator'

Bruce Whitfield interviews Professor David Block about his attitude toward money (hopes and fears, successes and failures, etc.).

'Momentum did nothing wrong, legally. But the man died protecting his family!'

'Momentum did nothing wrong, legally. But the man died protecting his family!'

The Money Show’s Bruce Whitfield interviews consumer journalist Wendy Knowler.

Popular articles
[LISTEN] 'Zuma's  affidavit in aid of Tom Moyane is a fascinating move'

[LISTEN] 'Zuma's affidavit in aid of Tom Moyane is a fascinating move'

Journalist at Daily Maverick’s Investigative Team Scorpio Pauli Van Wyk shares her take on this development.

Momentum to pay all violent crime claims, regardless of previous medical history

Momentum to pay all violent crime claims, regardless of previous medical history

The Money Show’s Bruce Whitfield interviews Johann le Roux, CEO at Momentum Life.

MyCiTi bus service fires eighty drivers

MyCiTi bus service fires eighty drivers

The decision follows a month-long unprotected strike which has disrupted the running of the service in the City of Cape Town.

Johannesburg school turns popular game Minecraft into a learning tool

Johannesburg school turns popular game Minecraft into a learning tool

The popular game Minecraft is now used as an educational tool to stimulate the minds of learners at Brescia House School.

Traffic officers involved in N2 car spinning frenzy suspended

Traffic officers involved in N2 car spinning frenzy suspended

Western Cape traffic chief Kenny Africa confirmed that the two traffic officers were suspended on Monday with immediate effect.

'Momentum did nothing wrong, legally. But the man died protecting his family!'

'Momentum did nothing wrong, legally. But the man died protecting his family!'

The Money Show’s Bruce Whitfield interviews consumer journalist Wendy Knowler.

VW vehicle nightmare to cost customer R23 000  after third engine fails

VW vehicle nightmare to cost customer R23 000 after third engine fails

A brand new Touran that's had three new engines since 2012 is about to cost the customer R23 000 for a fourth engine.

Group distances itself from N2 car spinners caught on film

Group distances itself from N2 car spinners caught on film

It turns out that the petrol heads who span cars on the N2 were part of the SA Torque Cape Town Breakfast Run.