Judge gives reasons for Steinhoff liquidation approval
Western Cape High Court Judge Hayley Slingers has given reasons for her ruling that Steinhoff meets the definition of a company that can be liquidated under SA law despite being registered in the Netherlands.
A Business Day report says Steinhoff has been waiting for Slingers’ reasons to appeal against her September ruling.
At the heart of the liquidation case is the technical issue of how SA liquidation law defines a company and whether to use a part of the 1973 Companies Act or 2008 Companies Act to define what a company is.
Slingers said both pieces of legislation apply.
‘In determining whether the court has jurisdiction to entertain the winding-up application it had to be determined what definition is to be afforded to a company, whether it be the definition contained in the 2008 Act or the definition contained in the 1973 Act,’ she said.
‘Consequently, I found this court has the necessary jurisdiction to entertain the provisional winding-up application.’
Article disclaimer: While we have made every effort to ensure the accuracy of this article, it is not intended to provide final legal advice as facts and situations will differ from case to case, and therefore specific legal advice should be sought with a lawyer.
