15225 replies to this topic

[Lionelza1]

before the so called gurus answer that let me answer in thier words;

 

 

Above actions are very good for Steinhoffs future as they know where they heading     

 

 

in the donga

 

i find that amazing P...dont worry there's light at the end of this tunnel....pffftttt

[Polly]

Litigation and claims against STEINHOFF

 

- VEB

- German group class action

- S.A class action

- Titan

- GT Ferreira

- PSG Vendors

- Tekkie Town

- POCO

- AIH

- Seifert

- Tax, JSE

 

Does anybody know value of claims?...i could not find that info

 

oh well...yea P the market trend is overall DOWN but it doesnt go down in a straight line right

 

before the so called gurus answer that let me answer in thier words;

 

 

Above actions are very good for Steinhoffs future as they know where they heading     

 

 

in the donga

[Polly]

Litigation and claims against STEINHOFF

 

- VEB

- German group class action

- S.A class action

- Titan

- GT Ferreira

- PSG Vendors

- Tekkie Town

- POCO

- AIH

- Seifert

- Tax, JSE

 

Does anybody know value of claims?...i could not find that info

 

oh well...yea P the market trend is overall DOWN but it doesnt go down in a straight line right

momentum is the killer..and now its changed from last week

[Lionelza1]

 

helpdesk post last night:

 

 

Posted Yesterday, 08:24 PM

Midas1, on 24 Mar 2019 - 7:54 PM, said:

I have a choice of IG , PSG or investing... However i only use investing..They free and offers amazing features if you know how to handle/use it...

 

Play around with the charting feature...u can save it once registered , see up to 8 charts on one page , overlay one stock/index over another etc etc....

 

 

Tomorrow/coming week  it seems  the big bad bear back in town. Nothing will be spared

 

Lionel and Larry carefull now...That momentum from last week is out of this market...My take  the Pyramid scheme will drop to R1.40/1.50 this week...( the target for the inverse head and shoulders rejection) and with  all the negative hitting it re the pwc report and managements incompetence , who knows may drop even into the gutter!!

Last week this time the punters were all smiling and sleeping tight when the PWC report hit the wires(posting large volumes  and tradegate to effect R2.30+...Amazing what a week makes and pyramid looks worse than ever!!

 

 

 

noted thanks!

[Lionelza1]

Litigation and claims against STEINHOFF

 

- VEB

- German group class action

- S.A class action

- Titan

- GT Ferreira

- PSG Vendors

- Tekkie Town

- POCO

- AIH

- Seifert

- Tax, JSE

 

Does anybody know value of claims?...i could not find that info

 

oh well...yea P the market trend is overall DOWN but it doesnt go down in a straight line right

[Polly]

helpdesk post last night:

 

 

Posted Yesterday, 08:24 PM

Midas1, on 24 Mar 2019 - 7:54 PM, said:

Hi..do you use investing.com for charts or any free charts you can recommend? Trading.view etc? Pressure on for me mrp monday... thanks help

I have a choice of IG , PSG or investing... However i only use investing..They free and offers amazing features if you know how to handle/use it...

 

Play around with the charting feature...u can save it once registered , see up to 8 charts on one page , overlay one stock/index over another etc etc....

 

 

Tomorrow/coming week  it seems  the big bad bear back in town. Nothing will be spared

 

Lionel and Larry carefull now...That momentum from last week is out of this market...My take  the Pyramid scheme will drop to R1.40/1.50 this week...( the target for the inverse head and shoulders rejection) and with  all the negative hitting it re the pwc report and managements incompetence , who knows may drop even into the gutter!!

Last week this time the punters were all smiling and sleeping tight when the PWC report hit the wires(posting large volumes  and tradegate to effect R2.30+...Amazing what a week makes and pyramid looks worse than ever!!

 

[Polly]

 

  " Steinhoff is in a precarious position"

 

 

 

 

 

 Definition uncertain, insecure, unreliable, unsure, unpredictable, undependable, risky, hazardous, dangerous, unsafe, hanging by a thread, hanging in the balance, perilous, treacherous, on a slippery slope, on thin ice, touch-and-go, built on sand, doubtful, dubious, delicate, tricky, problematic; 

 

 

PS these r her words not mine!!

 

technically insolvent??

Edited by Polly, 24 March 2019 - 08:50 PM.

[Polly]

. I'm astonished that the report has not been leaked yet. Showing to me that management is trustworthy. 

 

Hint : mafia style operation... i pointed out the dots....may be true may be false...but always a possibility!!

To you it shows management is trustworthy...alternative view: They dont want that report leaked cos they protecting someone/ a few..

 

What is the relationship between Du Preez and MJ???  even before the mess happened?

Only Du Preez has a hard copy....others who have a soft copy cant copy it...Why only Du Preez? Why not Heather Son?

[Polly]

Here’s my thoughts:
- pwc investigation was done for the benefit of steinhoff; to protect them against claims and to clean up books.
- they have up to now cooperated with authorities. They gave the names up when told to do so.
- their expenses should reduce after write offs
- their revenue is increasing
- most impairments have already been accounted for.
- they still own a bunch of shares they can sell off to raise cash (good point as per Andy)

So the main issue is the cva case and possibly cw?

What I’m trying to understand is what could possibly still cause the company to go bust?

 

 @ L there are 1001 reasons why it can go bust. Do some homework.

and the main reason in words of heather Son in parliment  " Steinhoff is in a precarious position"

 

@ Andi     " Can someone show me a company that is currently trading at 11 Euro cents that is producing revenue to the value of around 18 Billion Euro??? "

 

 

Yes i can..... Steinhoff       ..

exactly why its priced so low....cos its a pyramid scheme being unwound..

 

You getting carried away with revenue...If thats how you value the company , imo you on the wrong path.... But hay again its your money!!!

Edited by Polly, 24 March 2019 - 08:34 PM.

[Captainfrom82]

Hi Captain,

Thank you for your comments.

FYI my post was not meant negatively towards pwc or snh.
There were comments on here regarding the investigation that sounds like a big conspiracy theory yet again.
I am trying to express that the report was done for the right reasons and I don’t see anything wrong with the way it was conducted. I have regularly praised the management team and the reason I am still adding to my shareholding is because I believe they are doing a good job.
Steinhoff should use this report, which cost them a sh@t boat of money, to their and the shareholders’ best interest.
Hopefully it will lead to wrongdoers being held accountable and will assist in rebuilding the company by drawing a line in the sand and moving forward

What’s your opinion regarding the Seifert case and how this will play out?

 

Sure thing, buddy.  I though that the post was out of character - I should have know better.  My bad!

 

Regarding the conspiracy theory reasoning on offer here by some of the so-called senior members, it is mind numbingly stupid.  I mean, of course Steinhoff management team are going to take a pro-Steinhoff stance and try to spin this to suit Steinhoff.  This means trying to shift blame as far as possible away from Steinhoff to anywhere else - EVEN IF THE EVIDENCE POINTS AT STEINHOFF. 

 

Which frankly, it doesn't.  Steinhoff doesn't act.  It is a juristic person, a legal entity.  Its actions are given effect through its directors and other officials.  Some of those senior people went rogue!  The question now being posed s whether Steinhoff is guilty.  You can make up your own mind.  

 

But insofar as how the current leadership are behaving, does anyone here really think that it makes sense for Steinhoff to suddenly turn into Mother Theresa and plead culpability.  If you do, you are either naive or daft. 

 

Regarding the Seifert case, I honestly do not know.  As all things before a Court of Law, until the decision is actually made, no matter how weak or strong your position is, it actually makes no difference.  It all boils down to the judge's decision(s).  I will say this, though.  I am concerned that Seifert has already won one case vs Steinhoff / MJ's previous "understanding" of an asset ownership.

 

It would obviously be great if Steinhoff won this battle, but even a loss would have a positive in that we would know where we stand, and how to proceed going forward (similar to the POCO matter).

 

Best Regards

Captainfrom82

 

Ps.  Keep the faith.  Monday 25 March 2019 may well be quite hairy regarding the Steinhoff share price!

Edited by Captainfrom82, 24 March 2019 - 06:40 PM.

[LarryK]

Ps greetings from mind blowing Shanghai!

[LarryK]

Hi Captain,

Thank you for your comments.

FYI my post was not meant negatively towards pwc or snh.
There were comments on here regarding the investigation that sounds like a big conspiracy theory yet again.
I am trying to express that the report was done for the right reasons and I don’t see anything wrong with the way it was conducted. I have regularly praised the management team and the reason I am still adding to my shareholding is because I believe they are doing a good job.
Steinhoff should use this report, which cost them a sh@t boat of money, to their and the shareholders’ best interest.
Hopefully it will lead to wrongdoers being held accountable and will assist in rebuilding the company by drawing a line in the sand and moving forward

What’s your opinion regarding the Seifert case and how this will play out?

[Captainfrom82]

So Steinhoff is in trouble with creditors again.

 

No Tom, although you would like this narrative to be pushed to suit your own goals, Steinhoff is NOT in trouble with creditors again.

 

The SEAG CVA was approved by over 94% of creditors (93% of external creditors), the SFHG approval by 99% of creditors (89% of external creditors).  No challenges were made during the allowable notice period.

 

These CVAs were subject to a legal challenge by LSW (the value of the lawsuit at 14 Dec 2018 being approximately €291.4m).

 

In spite of the above, the CDS Determinations Committee had to make a decision whether "a Failure to Pay Credit Event occurred on 8 February 2019" .  After considering the facts they concluded: "while these contained agreements that the Reference Entity group would not make payments on its debt and creditors would not enforce, it was clear that these did not change the date on which the Reference Entity’s payments under the Notes were due and payable. The coupon payment was therefore not “deferred” in a legal sense, but had rather not been made"

 

In other words, the payments that the very same creditors agreed under the CVA and LUA not to pursue by 8 Feb 2018, these coupon payments could not be deferred by the CDS Committee's thinking.

 

I am hoping that your post above was a genuine error in understanding.

 

Best Regards

Captainfrom82

[Captainfrom82]

Here’s my thoughts:
- pwc investigation was done for the benefit of steinhoff; to protect them against claims and to clean up books.
- they have up to now cooperated with authorities. They gave the names up when told to do so.
- their expenses should reduce after write offs
- their revenue is increasing
- most impairments have already been accounted for.
- they still own a bunch of shares they can sell off to raise cash (good point as per Andy)

So the main issue is the cva case and possibly cw?

What I’m trying to understand is what could possibly still cause the company to go bust?

 

Hi LarryK,

 

To play the voice of reason here, please consider what exactly you are saying.  Just take a moment aside to think about what you are suggesting (do not fall for You Know Who's ludicrous claims - he is not all what you think he is!).   Consider what the repercussions of what you have typed out actually is.

 

Consider for a moment that PwC actually have absolutely no skin in this game.  They have absolutely no reason to lie.  They have no reason to intentionally reach unsubstantive conclusions.  They most certainly have no reason to put their entire international professional credibility at stake and by siding with what must be the most unpopular and wary management and company who has accepted that a fraud has been perpetuated.

 

They have everything to lose and absolutely nothing to gain!

 

Why would they draw up a report to suit Steinhoff?  When all the world is watching?

 

Look at the facts logically, and draw your conclusions from the hard evidence..., not from the feelings of You Know Who and Mini Me's interpretations.  They both have an axe to grind with Steinhoff, despite what they may tell you.

 

Best Regards

Captainfrom82

[Captainfrom82]

Wow folks,  been away for a week, and got back to catch. 

 

Have just completed reading the various comments, and my initial reaction was "whoa there ".  Pretty much all of the negative comments led by You Know Who and his Mini Me.  They seem to have a backing chorus too.  LOL. Same old, same old...

 

1. You Know Who still being all smoke and mirrors.  Vague and unclear in his comments, and never answers questions directly (we still do not know whether he thinks the share price will sink or rise - he has covered both basis ).  No one knows what he is actually saying about CW's strategy (all we hear is his take that CW gold for something worthless.  He has not yet answered why CW was happy to see the share price escalate after the asset swop, and why CW did not sell at the top).  

 

You Know Who is more slippery that an eel in an oil drum!  He professes to be making sure that the others are not led astray by false "gurus".  You couldn't make this up!!!  How condescending!  He  thinks he needs to be the fatherly figure guarding his charges, these poor illiterate, innocent, idiotic other members who need to be protected.

 

All of this while he actually has no stake in Steinhoff, he cannot say what he thinks categorically will happen, and ...one more thing...oh yes, he cannot p[rovide a shred of evidence for his views.

 

We have a saying back home...he is all hat, and no cattle.

   

2. Mini Me still throwing his toys out of the cot.  At least Mini Me wears his heart on his sleeve.  We know where he stands - although this changes by the hour...its all about stupid management, useless management, etc.  Quick question:  Have ANY of you on this ShareCHat platform EVER made repeated investments where you thought so little of the management, and was SO sure that you will end up losing money?  If you have, WHY??? 

 

Note: I am not referring to those of you who did so, once, and learned your lesson.  That is a natural part of investing.  No one is ever 100% successful or correct.  I am asking about someone who hates management, thinks poorly of a company's prospects, but will repeatedly place money on this company. 

 

Oh, and for fun or to prompt a response, will laugh at a comment made by someone infinitely more financially qualified than he is!!!

 

Oh, by the way, I am STILL waiting for the tangible proof and evidence from Tom and You Know Who for making the repeated statements that Steinhoff is insolvent (and Tom's assertion bankrupt).

 

 

Relax boys.  Do not let these fools let you down.  Steinhoff is a risky venture.  You should know this by now.  If you don't know this, you should legally not be in charge of you own money.  Only invest what you can afford to lose!

 

No one is playing down Steinhoff's risk.  But both sides of the story needs to be heard.

 

Oh Polly!!  Is this also a reckless statement?

 

 

Best Regards

Captainfrom82

[Investment novice]

Here’s my thoughts:
- pwc investigation was done for the benefit of steinhoff; to protect them against claims and to clean up books.
- they have up to now cooperated with authorities. They gave the names up when told to do so.
- their expenses should reduce after write offs
- their revenue is increasing
- most impairments have already been accounted for.
- they still own a bunch of shares they can sell off to raise cash (good point as per Andy)

So the main issue is the cva case and possibly cw?

What I’m trying to understand is what could possibly still cause the company to go bust?

Failure to agree terms to a restructure.

Sent from my SM-G950F using Sharenet Sharechat mobile app

[Tom]

https://www.cdsdeter...nt-22-03-19.pdf

 

So Steinhoff is in trouble with creditors again.

[LarryK]

Here’s my thoughts:
- pwc investigation was done for the benefit of steinhoff; to protect them against claims and to clean up books.
- they have up to now cooperated with authorities. They gave the names up when told to do so.
- their expenses should reduce after write offs
- their revenue is increasing
- most impairments have already been accounted for.
- they still own a bunch of shares they can sell off to raise cash (good point as per Andy)

So the main issue is the cva case and possibly cw?

What I’m trying to understand is what could possibly still cause the company to go bust?

[DayTraderDad]

See the letter:

 

https://www.cdsdeter...gent-notice.pdf

https://www.cdsdeter...nt-22-03-19.pdf

[DayTraderDad]

See the letter:

 

https://www.cdsdeter...gent-notice.pdf