Jooste: I will be opposing Steinhoff claim | Fin24
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Jooste: I will be opposing Steinhoff claim

Jul 03 2019 19:46
Nellie Brand-Jonker & Hanlie Stadler

Markus Jooste's legal team indicated on Wednesday that he would be opposing Steinhoff's civil claim of around R858m.

The document in which Jooste indicates that he is planning to oppose the motion, namely the notice of intention to defend, has been filed at the Western Cape High Court and sent to Steinhoff's legal team.

This means Jooste has made the deadline, which was within 10 working days of being served with the summons. He now has another 20 working days to submit his responding papers to the court.

Callie Albertyn of De Klerk & Van Gend is representing Jooste and Robert Driman of Werskmans Attorneys is representing Steinhoff.

Steinhoff did not want to comment on the matter.

Ben la Grange, against whom a simultaneous claim was brought, was given a month to indicate whether he would be opposing the claim, because he moved to Gauteng in the interim.

La Grange confirmed to Netwerk24 that he was intending to oppose the claim against him. He has not yet formally filed his notice of intention to defend, but has a few weeks remaining in which he can do so.

Steinhoff is claiming for nine years' worth of salaries, bonuses and share incentives, plus interest, as well as legal costs from Jooste, who was its chief executive until December 4, 2017. The claim was laid out in a summons stamped by the court on June 14 and served on Jooste shortly thereafter.

The claim is for amounts partly in rands and partly in euros. Accounting for the fluctuating exchange rate, it amounts to approximately R858m. This is for all income that Jooste earned from 2009 to 2017, as well as shares awarded to him.

Approximately R279m is being claimed from La Grange, who was Steinhoff's financial head until January 2018. It represents his salary, bonuses and share incentives from 2010 to the start of 2018.

This story was first published on Netwerk24.

steinhoff  |  accounting fraud


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