The Germans have now charged Markus Jooste – Christo Wiese
Christo Wiese now supports Steinhoff’s R25 billion settlement after qualms around the terms have been addressed.
The former Steinhoff Chairperson says his Titan group of companies will vote in favour of the settlement.
Under the settlement, litigants receive a portion of their claims in return for dropping all legal claims against Steinhoff.
The Money Show’s Bruce Whitfield interviewed Wiese and Rob Rose, Editor of Financial Mail and author of "Steinheist: Markus Jooste, Steinhoff & SA's biggest corporate fraud" (scroll up to listen).
It undoubtedly has the potential to further complicate matters… This ruling adds to complication… There is another vote in Amsterdam on Wednesday…Christo Wiese, former Chairperson - Steinhoff
One must assume… a line will be drawn… the final solution is a liquidation… a settlement is in the best interest of all concerned… I was prepared to make concessions…Christo Wiese, former Chairperson - Steinhoff
We were defrauded… So, I won’t call it a sale… We were paid with bad coin… It is frustrating that it takes so long…Christo Wiese, former Chairperson - Steinhoff
The Germans have now charged Jooste… it took them five years to finally charge him… This wasn’t a single event. It was set up and implemented over many, many years… The fraud was constructed over 10 years, plus…Christo Wiese, former Chairperson - Steinhoff
… it’s a massive step forward for saving a company like this…Rob Rose, Editor - Financial Mail
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