15225 replies to this topic

[Trader001]

who can tell what this all means?

To me it looks  like a bit of circular argumentation by the judge:

She said that although the parties ( creditors ) don't have to convince the court of the merits why they want to join the case, they still need to provide the court with the facts about their claims. Then she discussed the shortfalls (facts) of the 38 mandates ( creditors) and is calling on them to supply it

Again she is bringing up the fact that Steinhoff originated in SA and that she has the right to make a judgement on this case.

But as previous comments on this site have pointed out repeatedly:

How do you liquidate a company that is paying dividends? 

Is this just not a ploy of TT to get a better settlement?

 TT can surely withdraw their liquidation application if they get a better deal? 

All the complications and problems associated with  liquidation of a global company? 

How will such a move affect the employment in steinhoff  controlled companies?

What about the major shareholders such as PIC and others 

Liquidation is probably the worst outcome for all the interested and affected parties 

[Africa1962]

Regter kap Steinhoff-‘krediteure’ oor skrapse inligting...

 

who can tell what this all means?

[Squideye]

Regter kap Steinhoff-‘krediteure’ oor skrapse inligting...

Attached Files

•  20211008_1.pdf   2.25MB   35 downloads

[Squideye]

...

Attached Files

•  20211008.pdf   1.43MB   57 downloads

[Batra]

When I look at share price movement, I am convinced that all the pain linked to long times to be spent in court in the next future has been already priced in
That’s very convincing that, unlikely liquidation scenario to be granted st aside, the only way is up.
Just be patient and resilient

[Junz]

Can someone share the reason the judge gave ?

[Tiekkie]

Did the judge give a date when the case would be heard?

[Squideye]

https://www.business...s-a-conclusion/

[Batra]

For me this was expected. A yone thinking the judge was going to to contradict herself is smoking green stuff!

I am looking past all the noise and focusing on facts;

1 SoP completed

2 MF turned around and a IPO of USD 5 bil expected

3 Pepkor growing over 20%

4 Pepco also growing fast now in Austria and expected to enter Germany

Now I dont believe for 1 minute that a Eur 100 mil claim that needs to be disputed will destroy all above,

Further now SNH csn lodge the appeal with the SCA.

Cannot agree more
These are proven facts

[Batra]

I tend to agree. The headline of this article is far more provocative than it needs to be. All that has happened is the judge has given her reasons for allowing the case to be heard. This does not mean she has found in TT favor. Given that she had denied SNHs application to have the case thrown out, it is only logical that she had some reason/s. Did we expect her to come out and say she had no reasons for her decision and she just had a brain fart and was being silly girl and she would now dismiss the case?

All she is doing is justifying her decision to hear the case and is stating why she believes South African law allows for it to be heard. Nothing more. Nothing less.

Now, SNH legal team can apply themselves to picking her reasoning apart as well as ready themselves for the case because it does look like it will proceed. Oh and of course, they could, as a last resort, if they think the matter is going in TT favor, reach a settlement. To my mind the TT debacle is a negotiation and the court action is simply a leverage tool. I still think if Steinhoff are really faced with the prospect of liquidation, they will be inclined to offer the TT boys a better settlement, but why offer that when you still think you have a fighting chance?

Agreed
And btw you made me so laugh so much with “the judge brain fart” A good one 😂

[DayTraderDad]

For me this was expected. A yone thinking the judge was going to to contradict herself is smoking green stuff!

I am looking past all the noise and focusing on facts;

1 SoP completed

2 MF turned around and a IPO of USD 5 bil expected

3 Pepkor growing over 20%

4 Pepco also growing fast now in Austria and expected to enter Germany

Now I dont believe for 1 minute that a Eur 100 mil claim that needs to be disputed will destroy all above,

Further now SNH csn lodge the appeal with the SCA.

[Bushmanbob]

I tend to agree. The headline of this article is far more provocative than it needs to be. All that has happened is the judge has given her reasons for allowing the case to be heard. This does not mean she has found in TT favor. Given that she had denied SNHs application to have the case thrown out, it is only logical that she had some reason/s. Did we expect her to come out and say she had no reasons for her decision and she just had a brain fart and was being silly girl and she would now dismiss the case?

All she is doing is justifying her decision to hear the case and is stating why she believes South African law allows for it to be heard. Nothing more. Nothing less.

Now, SNH legal team can apply themselves to picking her reasoning apart as well as ready themselves for the case because it does look like it will proceed. Oh and of course, they could, as a last resort, if they think the matter is going in TT favor, reach a settlement. To my mind the TT debacle is a negotiation and the court action is simply a leverage tool. I still think if Steinhoff are really faced with the prospect of liquidation, they will be inclined to offer the TT boys a better settlement, but why offer that when you still think you have a fighting chance?

[Batra]

My two cents view
1) That judge will never deny herself. So it is logical she finds reasons supporting her rationale as to why the company can be liquidated in SA. That is about the legal merits of the case
2) This does not constitute in itself a good reason enough to process the liquidation, the company not being insolvent any longer and GS favoring lots lots of stakeholders. As it has been said, it gives SNH a very solid ground to appeal.

I am of the view that it is worth to hold our kite and wait
As it has been said, the legal case (s) will drag for sometime before we see any double or quit outcome.

Last , it is indeed very tempting to quit whilst being in the green at that current level. But it is even more appealing to hold and wait with the concept in mind of big risk big reward. Speculation I know but hey, I still believe there is money to be made here. Let’s see

[Tiekkie]

Confused, what are the reasons? Maybe someone with a subscription willing to PM me?

I've struggled for 4 years with huge losses. Now that I'm in the green it's time to let it go...

[DeltaHedge]

if this is true I'm selling tomorrow

It won’t make sense to liquidate a company like this. I think the court cases will keep dragging on

[GutfeelTrader]

if this is true I'm selling tomorrow

Confused, what are the reasons? Maybe someone with a subscription willing to PM me?

[Tiekkie]

Also isn't i a good thing, at least now we know what to appeal

if this is true I'm selling tomorrow

[GutfeelTrader]

Any idea what the reasons are? See the market reacted but not sure if it's computers trading

Also isn't i a good thing, at least now we know what to appeal

[GutfeelTrader]

https://www.business...quidated-in-sa/

Any idea what the reasons are? See the market reacted but not sure if it's computers trading

[Squideye]

https://www.business...quidated-in-sa/