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Absa want Jooste company liquidated – eNCA

JOHANNESBURG – Absa Bank has applied for the liquidation of former Steinhoff CEO Markus Joostes Mayfair Speculators, the company that, until this week owned South Africas best racehorse, Legal Eagle, as well as hundreds of other racehorses, a property portfolio and a chunk of Steinhoff shares.

READ: Steinhoff shares plunge 60% after CEO quits

Absa has also demanded an investigation into a suspicious transaction that saw Mayfair move R1.5 billion of assets to its holding company in August this year.

This was just months before significant financial irregularities hit the headlines, causing one of the largest ever corporate implosions in South Africa.

The liquidation hearing is due to be held on Friday, and Mayfair has not y…

Read the full article at: https://www.enca.com/money/absa-want-jooste-company-liquidated

Category: LiquidationBy Insolvency GuardianDecember 22, 2017

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Absa want Jooste company liquidated – eNCA

JOHANNESBURG – Absa Bank has applied for the liquidation of former Steinhoff CEO Markus Joostes Mayfair Speculators, the company that, until this week owned South Africas best racehorse, Legal Eagle, as well as hundreds of other racehorses, a property portfolio and a chunk of Steinhoff shares.

READ: Steinhoff shares plunge 60% after CEO quits

Absa has also demanded an investigation into a suspicious transaction that saw Mayfair move R1.5 billion of assets to its holding company in August this year.

This was just months before significant financial irregularities hit the headlines, causing one of the largest ever corporate implosions in South Africa.

The liquidation hearing is due to be held on Friday, and Mayfair has not y…

Read the full article at: http://www.enca.com/money/absa-want-jooste-company-liquidated

Category: LiquidationBy Insolvency GuardianDecember 22, 2017

Post navigation

PreviousPrevious post:Adani to Seek A$3 Billion of Debt for Aussie Coal Plans – BloombergNextNext post:Banks can take advantage of the IBC to clean up their balance sheets: RBI – Economic Times

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May 31, 2025
RPs can now invite interim finance providers to CoC meetings
May 31, 2025
‘Absolutely gutted’: £16,500 Glastonbury packages won’t be fulfilled after company goes bust | Money News
May 31, 2025
Seek restructuring support at first sign of distress – GIPC CEO urges businesses
May 31, 2025
Corporate insolvencies reach highest level since July
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