Steinhoff asks Constitutional Court to shut down liquidation court case

accreditation
Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!
0:00
play article
Subscribers can listen to this article
Investors in Steinhoff lost billions of rands when its share plunged plunged in late 2017.
Investors in Steinhoff lost billions of rands when its share plunged plunged in late 2017.
Getty Images

Steinhoff has approached South Africa's highest court on an urgent basis in a bid to stop a lower court from continuing to hear an application to have it liquidated.  

The retailer on Monday lodged an application for leave to appeal an earlier ruling of the Western Cape High Court that found it has jurisdiction to hear the winding-up case. Steinhoff is arguing the ruling was wrong in law and deals with new legal matters not yet tested before a court.

While the apex court is not the usual first port of call to dispute a high court ruling, Steinhoff's move is an indication of how seriously the retailer is taking the matter. It already filed a similar bid with the Supreme Court of Appeal.

Support independent journalism
Subscribe to News24 for just R75 per month to read all our investigative and in-depth journalism. You can cancel any time.
Subscribe
Already a subscriber? Sign in
Rand - Dollar
14.83
-0.2%
Rand - Pound
20.41
-0.8%
Rand - Euro
17.25
-0.6%
Rand - Aus dollar
11.07
-0.8%
Rand - Yen
0.13
-0.4%
Gold
1,798.21
+0.3%
Silver
24.45
+0.4%
Palladium
2,043.50
+0.9%
Platinum
1,044.61
+0.2%
Brent Crude
85.53
+1.1%
Top 40
60,525
+0.3%
All Share
67,051
+0.2%
Resource 10
62,969
+0.8%
Industrial 25
86,659
-0.4%
Financial 15
13,849
+0.8%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Voting Booth
Facebook is facing a fresh crisis after a former employee turned whistle-blower leaked internal company research . Do you still use Facebook?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, the benefits outweigh the risk for me
25% - 245 votes
No, I have deleted it
46% - 449 votes
Yes, but I am considering deleting it
29% - 285 votes
Vote