STEINHOFF International Holdings (SIHNV) yesterday provided an update about the application for the provisional liquidation of SIHNV made by the former shareholders of Tekkie Town in the Western Cape Division of the High Court earlier this month.
On May 25, the court had directed that the hearing would take place between September 1 and 3. The court had also set a timetable for the parties to deliver papers prior to the hearing of the liquidation application, it said.
The Tekkie Town executives had previously requested the matter to be heard on an urgent basis on May 24.
The standoff between the two parties is a result of the December 2017 accounting scandal that led to Steinhoff’s share price declining by more than 95 percent.
BUSINESS REPORT ONLINE