Wrap Text
Liquidation Application: AJVH Holdings & Others / SIHNV
Steinhoff International Holdings N.V.
(Incorporated in the Netherlands)
(Registration number: 63570173)
Share Code: SNH
ISIN: NL0011375019
LIQUIDATION APPLICATION: AJVH HOLDINGS & OTHERS / SIHNV
As previously announced, in respect of the liquidation application proceedings ("the
liquidation application") launched by AJVH Holdings and four others ("the applicants") against
Steinhoff International Holdings N.V. (“SIHNV”), certain preliminary matters were set down for
initial hearing in the Cape Town High Court ("the Court") on 1 to 3 September 2021. The
preliminary matters included:-
1 an application, by the parties described as SIHNV Financial Creditors, to intervene in and
oppose the application;
2 an application by the joint administrators (appointed by the Dutch Court) of SIHNV to
be:-
2.1 recognised as court-appointed administrators of SIHNV by virtue of the orders of the
Amsterdam District Court of 15 and 18 February 2021 and by virtue of such
recognition to be granted such authority to institute and defend proceedings in the
Republic of South Africa including the application;
2.2 granted leave to intervene in and oppose the application; and
3 an application raised that the Court does not have jurisdiction to wind up SIHNV by virtue
of the fact that SIHNV is an external foreign company ("the jurisdictional issue"),
(collectively "the preliminary applications").
On 6 September 2021, the Court granted an Order (without reasons) in terms of which the
Court dismissed the preliminary applications ("the 6 September Order"). For the avoidance of
doubt, the Court made no finding on the merits of the application, and has issued no Order in
that regard.
Each of the SIHNV Financial Creditors, the joint administrators and SIHNV has filed a request for
the reasons for the 6 September Order, along with their respective applications for leave to
appeal the 6 September Order. In this regard, the SIHNV Financial Creditors have sought to
appeal the dismissal of their intervention application, the joint administrators have sought to
appeal both the dismissal of their intervention application and the dismissal of the jurisdictional
issue, and SIHNV has sought to appeal the dismissal of the jurisdictional challenge.
On 8 September 2021, the Court directed that (a) the SIHNV Financial Creditors, the joint
administrators and SIHNV were required to bring formal applications to postpone the main
liquidation application that is scheduled for 9, 14 and 15 September 2021, and (b) the
applications for postponement would be heard on 9 September 2021. The respective
applications for postponement were filed on 8 September 2021. The applicants opposed the
applications for postponement.
On 9 September 2021, the Court ruled that judgment had been reserved, and was anticipated
to be handed down during the course of 10 September 2021.
At 18:15 on 10 September 2021, and in terms of a Court Order ("the 10 September Order")
which was again handed down without reasons, the Court (a) ruled that the 6 September
Order was not subject to section 18(1) of the Superior Courts Act, Act 10 of 2013, in that the
6 September Order is not suspended, pending the outcome of the application for leave to
appeal the 6 September Order, and (b) dismissed the applications of each of the SIHNV
Financial Creditors, the joint administrators and SIHNV for postponement.
Each of the SIHNV Financial Creditors, the joint administrators and SIHNV has now:-
1 filed a request for the reasons for the 10 September Order;
2 served applications for leave to appeal the 6 September Order to the Supreme Court
of Appeal; and
3 served applications for leave to appeal the 10 September Order.
In addition, both SIHNV and the Financial Creditors have today brought applications to the
High Court to postpone the hearing of the liquidation application.
The Company has a primary listing on the Frankfurt Stock Exchange and a secondary listing on
the JSE Limited.
Stellenbosch, South Africa
13 September 2021
JSE Sponsor: PSG Capital
Date: 13-09-2021 04:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Sharenet Sites 
