15225 replies to this topic

[Squideye]

Any chance anyone is on the mailing list

most of the time the addressees...

[Junz]

Any chance anyone is on the mailing list

[GutfeelTrader]

There is a voting but no hearing.

Judge S will deliver the verdict to the parties via email...

Any chance anyone is on the mailing list

[Squideye]

Anyone listening to the hearing? Hope we don't have to wait for a SENS

There is a voting but no hearing.

 

Judge S will deliver the verdict to the parties via email...

[Africa1962]

For what it's worth (with the usual disclaimer that this is NOT advice). ....

 

 

Bushmanbob...you are needed in court to argue the case  ........ But as you say when fighting a principal you are ready to lose everything....at the cost of everyone..

Emotionally I think TT have a case....but not logically....

[DayTraderDad]

Going to be a interesting afternoon!!

 

I cannot see the judge saying to continue because my humble opinion she gave a wrong judgement.

 

There is already a SoP in Amsterdam so how can one liquidate a company twice!!!

 

Not a lawyer interesting to know comments from people with legal background!!!

[GutfeelTrader]

Anyone listening to the hearing? Hope we don't have to wait for a SENS

[Bushmanbob]

For what it's worth (with the usual disclaimer that this is NOT advice).  My continued holding of SNH shares is and always has been, based purely on my opinion on what the outcome of both the Global Settlement (which now seems to be pretty much wrapped up) and the TT action.  I understand my investment is highly speculative and risky - I am hoping fortune and logic will favor the bold.

My reasoning is that the TT application for liquidation is misplaced.  TT contend they have a claim - which may well be the case however that should not extend to them having the ability to liquidate SNH especially given that creditors, the majority of claimants and courts abroad seem to be satisfied the settlement is both reasonable and that SNH has the ability to meet the settlement commitments. If they TT boys were not able to spot the irregularities in the financials way back when the deal with SNH was being done, how do they now figure their financial prowess is capable of determining the solvency / liquidity of SNH - especially given that everyone is happy to accept SNH is a going concern with reasonable prospects for the future?

If they are claiming they were defrauded, then that is their prerogative however, they will probably find that difficult to prove at the moment because, as Piet Voljoen states, neither Jooste nor SNH have yet to be found to have been fraudulent.

Perhaps if and when fraud has been proven, TT may then find it easier to prove their claim?

I understand the TT boys are sore about what has happened and in my opinion they are way to emotionally charged and are not seeing things objectively - I would probably feel the same way in their shoes (pun not intended).  Mostert even said he will fight this thing till his last breath - which demonstrates his emotional state of mind. 

Wiese on the other hand, in his recent podcast / radio interview said he and other claimants had decided to get on board with the settlement so they could put this horrible event behind them and get on with their lives.  Obviously the TT boys are not quite there yet and may never be.  

My point is if TT have a claim of fraud, then surely that is a separate issue and should not be confused with the liquidity of SNH?  

Finally, there is the logical side of the debate which relates to the jurisdiction of the SA courts and also the greater harm which will be done should TT be successful with their liquidation application.  As many have mentioned, this not only relates to potential job losses but to investors (some big institutions such as the PIC & retail investors), creditors etc... with some rather serious macroeconomic consequences and ripple effects.  

Hells Bells - This SNH story is not for the faint of heart - Either a rocket to the moon or we go down in flames.  

 

[swartkat]

..i wonder if there is going to be a "plunge" again today....volumes are highish.....someone might want to make a quick buck again today....

 

Likely, Judge giving feedback on request for postponement till after appeal about jurisdiction. If succesful = another delay. If unsuccesful, liquidation hearing goes ahead - both likely result in downward movement in short term. Get our buys in low- chance to top up

Edited by swartkat, 10 September 2021 - 11:25 AM.

[Africa1962]

Fingers crossed that GS sorted today! What a Rollercoaster!

..i wonder if there is going to be a "plunge" again today....volumes are highish.....someone might want to make a quick buck again today....

[DeltaHedge]

Fingers crossed that GS sorted today! What a Rollercoaster!

Is GS finalization today ?

[Sleepwa123]

Fingers crossed that GS sorted today! What a Rollercoaster!

[Squideye]

Old. Have a look @ https://www.sharenet...0&seq=52&scode=

 

Link to live webcast of the Meeting (14:00 SAST):  https://protect-za.m...web.lumiagm.com

 

Meeting ID: 102-443-103

[Squideye]

Old. Have a look @ https://www.sharenet...0&seq=52&scode=

Can someone please help me out with this sens

"S155 CONTRACTUAL CREDITORS MEETING

Steinhoff International Holdings N.V. (“SIHNV” or the “Company” and together with its other
subsidiaries, “Steinhoff” or the “Steinhoff Group”) and Steinhoff International Holdings
Proprietary Limited (“SIHPL”) provide the following update on the postponed s155 SIHPL
Contractual Creditors meeting.

In accordance with the Order of the Western Cape Division of the High Court of South Africa
dated 5 September 2021 under case number 15157/2021, and at the request and on behalf
of the Chair of the Meetings, the Company advises that the Meeting of the Contractual
Claimants under the s155 Proposal will not resume at 11:00 on Thursday 9 September 2021 but
will reconvene at a later time to be communicated.

The Company has a primary listing on the Frankfurt Stock Exchange and a secondary listing on
the JSE Limited."

What does it mean

[Olymphia]

And with this one

"
RESUMPTION OF MEETING OF SIHPL S155 CONTRACTUAL CLAIMANTS

Steinhoff International Holdings N.V. (“SIHNV” or the “Company” and together with its other
subsidiaries, “Steinhoff” or the “Steinhoff Group”) and Steinhoff International Holdings
Proprietary Limited (“SIHPL”) provide the following update on the resumption of the meeting
of the s155 SIHPL Contractual Claimants.

In accordance with the Order of the Western Cape Division of the High Court of South Africa
dated 5 September 2021 under case number 15157/2021, and at the request and on behalf
of the Chair of the Meetings, the Company advises that the Meeting of the Contractual
Claimants under the s155 Proposal will resume at 14:00 (SAST) on Friday 10 September 2021.

The resumed meeting will be conducted electronically in the same manner in which the
adjourned meeting had been conducted, and all instructions regarding participation and
voting at the meeting remain valid, including log-in credentials previously distributed to
participants, as well as the link (and associated Meeting ID) to the live webcast."

[Olymphia]

Can someone please help me out with this sens

"S155 CONTRACTUAL CREDITORS MEETING

Steinhoff International Holdings N.V. (“SIHNV” or the “Company” and together with its other
subsidiaries, “Steinhoff” or the “Steinhoff Group”) and Steinhoff International Holdings
Proprietary Limited (“SIHPL”) provide the following update on the postponed s155 SIHPL
Contractual Creditors meeting.

In accordance with the Order of the Western Cape Division of the High Court of South Africa
dated 5 September 2021 under case number 15157/2021, and at the request and on behalf
of the Chair of the Meetings, the Company advises that the Meeting of the Contractual
Claimants under the s155 Proposal will not resume at 11:00 on Thursday 9 September 2021 but
will reconvene at a later time to be communicated.

The Company has a primary listing on the Frankfurt Stock Exchange and a secondary listing on
the JSE Limited."

What does it mean

[DayTraderDad]

mostert is a real wanker must say

Haha not bright! Still thinks that SNH SA business is the paying party.

He still does not understand SNH feel very sorry for TT old boys!

They need more lessons from Piet. PEPCO value is much more than Pepkor

Edited by DayTraderDad, 10 September 2021 - 09:57 AM.

[Bubble]

mostert is a real wanker must say 

 

King size chop!

 

Always be wary of someone doing CrossFit

[DOA123]

I feel like the entire market is holding it's breath until this afternoon xD

[DeltaHedge]

mostert is a real wanker must say