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DGAP-News Steinhoff International Holdings N.V. : STEINHOFF GLOBAL SETTLEMENT - UPDATE

DGAP-News: Steinhoff International Holdings N.V. / Key word(s): Miscellaneous
Steinhoff International Holdings N.V. : STEINHOFF GLOBAL SETTLEMENT - UPDATE

14.10.2021 / 13:40
The issuer is solely responsible for the content of this announcement.


 

STEINHOFF GLOBAL SETTLEMENT - UPDATE

Steinhoff International Holdings N.V. ("SIHNV" or the "Company" and together with its subsidiaries, "Steinhoff") together with Steinhoff International Holdings Proprietary Limited ("SIHPL") announce the following updates in relation to implementation of the Steinhoff Global Settlement.

SIHPL Sanction Hearing

As previously announced, SIHPL's application for sanction of its section 155 proposal following the overwhelming support obtained in all three creditors' meetings was originally scheduled to be heard on an urgent basis on 30 September 2021.

As a result of the new interventions and opposition received following those creditors' meetings by Trevo Capital Limited, certain parties affiliated with Messrs Van Huyssteen and Mostert and (separately) Mr Lamprecht the matter was referred to the case management judge in the Western Cape High Court (the "Court") on Wednesday 6 October 2021 to find alternative dates. The Company has today been notified by the Court that the sanction application has been set down for a hearing on 24 to 28 January 2022. The parties are required to agree a timetable for the filing of further papers, prior to the hearing.

In the meantime, any persons who believe they are claimants under the Steinhoff global settlement are reminded that they may still submit any claims to the verification process as part of the SI55 Proposal. Details of the claim process can be found at: https://www.steinhoffsettlement.com

Extension of Margin Lenders Support

On 15 February 2021, Steinhoff announced that an agreement had been reached, in principle, between, among others, SIHNV, SIHPL, Conservatorium Holdings LLC ("Conservatorium") and certain entities linked to Christo Wiese, subject to a number of conditions. The essential terms of the agreement (the "Margin Lender Settlement Agreement") are summarised at paragraphs 1.36 - 1.40 of SIHPL's amended section 155 Proposal published on 11 August 2021 (the "S155 Proposal").

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Nachrichtenquelle: EQS Group AG
14.10.2021, 13:40  |  850   |   |   

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DGAP-News Steinhoff International Holdings N.V. : STEINHOFF GLOBAL SETTLEMENT - UPDATE DGAP-News: Steinhoff International Holdings N.V. / Key word(s): Miscellaneous Steinhoff International Holdings N.V. : STEINHOFF GLOBAL SETTLEMENT - UPDATE 14.10.2021 / 13:40 The issuer is solely responsible for the content of this announcement. …

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