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Steinhoff International Holdings N.V. has received approval from the Western Cape High Court for its s155 Proposal related to ongoing litigation. The Court's sanction will allow the company to proceed with its Global Settlement. The Settlement Effective Date is anticipated on or around February 15, 2022, following which various litigation proceedings, including the withdrawal of a Liquidation Application against SIHNV, will conclude. Further details can be found on the company's websites.
Steinhoff International Holdings has announced a proposed scheme of arrangement aimed at settling claims with its Scheme Creditors. The plan will become effective upon approval by a majority of these creditors and the High Court of South Africa. It outlines the process for filing claims and voting on the proposal, with further details accessible via Steinhoff's official website. The proposal does not constitute an admission of liability and encourages creditors to consult legal advisors regarding their claims.
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