High Court postpones ABSA’s application

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The High Court in Cape Town has postponed the application by ABSA to recover more than 226 million rand from Mayfair Speculators, a company run by Markus Jooste.

Jooste resigned as CEO of Steinhoff at the start of December amid reported accounting irregularities that wiped off about 10 billion euros of the company’s value.

The date for the hearing is yet to be allocated. ABSA wants Mayfair Speculators to be liquidated because of its inability to pay its debts.

Mayfair Speculator’s main asset is a number of shares in Steinhoff International Holdings. Other assets include race horsing companies – an area in which Jooste has long been interested.