Ann Crotty
3 minute read
25 Feb 2021
6:31 am

Steinhoff’s contractual claimants war intensifies

Ann Crotty

Dublin-based Hamilton has slammed the proposed settlement agreement as unfair and discriminatory.

If Steinhoff’s contractual claimants such as Christo Wiese-related entities and GT Ferreira were treated in the same manner as the thousands of shareholders who bought their shares in the market, Wiese’s proposed payout would be reduced from R7.9 billion to R1 billion and Ferreira’s from R421 million to R29 million, says a party acting on behalf of around 20% of Steinhoff’s shareholders. Dublin-based Hamilton, which is managing a class action case on behalf of major institutional investors such as Ninety One, Allan Gray, Old Mutual, Coronation and Sanlam, has slammed the proposed settlement agreement as unfair and discriminatory. ALSO READ:...