15225 replies to this topic

[DeltaHedge]

Steinhoff seems desperate to get the TT case postponed until after judicial ratification in the Netherlands and ZA....

I don’t like those sad faces haha

[Squideye]

Steinhoff CEO asks court to back R25-billion settlement as it seeks to postpone liquidation bid @ https://www.news24.c...on-bid-20210913

[Squideye]

Steinhoff seems desperate to get the TT case postponed until after judicial ratification in the Netherlands and ZA....

[DayTraderDad]

If the Judge is ex-NPA, she seems to have a prosecutor mind set. She is prosecuting SNH by finding against them with no reasons given.

I agree it looks like to me there was a misunderstanding on the law interpretation especially without any explanation.

[DayTraderDad]

how on earth are they going to prove that SNH is insolvent?

Don't think they understand whats is happening and for me looks like the judge made a mistake best get the SCA sort this out and get TT to pay for it.

[tiny]

If the Judge is ex-NPA, she seems to have a prosecutor mind set. She is prosecuting SNH by finding against them with no reasons given.

[Tiekkie]

Thanks!!! Great news we need to take on TT headon they trying their luck!!!

how on earth are they going to prove that SNH is insolvent?

[DayTraderDad]

https://www.sharenet...0&seq=44&scode=

Thanks!!! Great news we need to take on TT headon they trying their luck!!!

[Squideye]

https://www.sharenet...0&seq=44&scode=

[Polla]

Ah but they must have.

Check Friday's ruling - the judge rules that s18(1) does not apply and the ruling is not suspended. Then check s18(5)

(5) For the purposes of subsections (1) and (2), a decision becomes the subject of an application for leave to appeal or of an appeal, as soon as an application for leave to appeal or a notice of appeal is lodged with the registrar in terms of the rules. "

So, they must have already submitted at least notice of appeal

SENS out.... All was filed today with SCA as well as High court...

[swartkat]

My question is then why has SNH lawyers not gone and places a urgent appeal with the SCA? Last time with CW they were in court on Sunday yet up to now nothing!!!

Ah but they must have.

Check Friday's ruling - the judge rules that s18(1) does not apply and the ruling is not suspended. Then check s18(5)

(5) For the purposes of subsections (1) and (2), a decision becomes the subject of an application for leave to appeal or of an appeal, as soon as an application for leave to appeal or a notice of appeal is lodged with the registrar in terms of the rules. "

So, they must have already submitted at least notice of appeal

[DayTraderDad]

Adrenalin rush for the George Boys. Let's hope they will do a bungee from Bloukrans bridge - no strings attached...

Haha they are so trusting that will not check the cord!!!!

[Trader001]

It will be a sad day in SA if judges are so week that forget the law and go on sentiment!!! 

That is my worry too considering she is presiding over this complicated liquidation application and has experience in criminal law, international law and environmental law and worked for the NPA according to her 2019 interview to become a judge. I thought  this kind of applications that we are dealing with now  should have been presided over by a person who is an expert in business cases/problems/disputes with a background in  company law and business practice.

That is probably why another court could give a different judgement. II think it baffles many why SNH did not apply for an urgent appeal?

[Squideye]

Adrenalin rush for the George Boys. Let's hope they will do a bungee from Bloukrans bridge - no strings attached...

[Polla]

I ask this question for any of you that might know how this will work. 

If the Dutch court on Thursday approves the Dutch SOP procedures/process and the SOP becomes in force, how on earth will a South African court ever be able to unwind/liquidate the Dutch company? 

The SOP procedures was followed exactly for the reason to protect the company from liquidation.  It sounds to me a bit of a useless exercise hearing TT arguments if on the 16th the Dutch courts gives it stamp of approval on the SOP agreement....

[Africa1962]

My question is then why has SNH lawyers not gone and places a urgent appeal with the SCA? Last time with CW they were in court on Sunday yet up to now nothing!!!

let us hope that TT and SNH are in discussion to settle out of court because no matter who wins in court tomorrow will result in appeals and more litigation and more delays.....

[DayTraderDad]

in other words, by denying the application to suspend  she grants it in a roundabout way. SNH appeals her s18(1) decision wrt the jurisdiciton question and triggers s18(4) which suspends that decision

She gives them what they want plus an urgent court date by not giving them what they want. 3d chess

 

My question is then why has SNH lawyers not gone and places a urgent appeal with the SCA? Last time with CW they were in court on Sunday yet up to now nothing!!!

[DayTraderDad]

Agree that it's unlikely - but the judge keeps on ruling otherwise, at least on the surface. I hope common sense will prevail, but I & perhaps many others have underestimated how strong the anti-SH sentiment is in SA! (and judges read the news too)

It will be a sad day in SA if judges are so week that forget the law and go on sentiment!!! 

[Tentative]

Agree that it's unlikely - but the judge keeps on ruling otherwise, at least on the surface. I hope common sense will prevail, but I & perhaps many others have underestimated how strong the anti-SH sentiment is in SA! (and judges read the news too)

 

Agree
Plus intraday traders
Short term moves shall not question long term trend
And this one is up, except if of course liquidation application would be granted. I believe it is very unlikely as SNH is not any longer insolvent.
Furthermore, I also believe there is too much at stake if liquidated (jobs losses, pension funds write off, impact on listed companies where SNH is a significant shareholder, PIC and else)

[Midas1]

Does anyone know what time the liquidation hearing is on Tuesday? Thanks