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German shareholder group gears up to fight 'unfair' Steinhoff debt plan in court | Business

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A major German investors' group says it has amassed funds to fight against Steinhoff's recently announced restructuring plan, saying it leaves shareholders with nothing. | JanTamb News24_Business

A major group of German investors says it has the necessary funds to fight Steinhoff's recently announced restructuring plan, which risks leaving shareholders with nothing.

The Schutzgemeinschaft der Kapitalanleger is a private body representing shareholders' rights and interests in Germany and other countries. "SdK is convinced that it can build up considerable pressure on [Steinhoff's] board of directors," said board member Marc Liebscher.Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.

 

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JanTamb _Business Steinhoff at it again

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COMPANIES: Whoa — Steinhoff launches Dutch restructuring plan that leaves shareholders high and dryDays after a German shareholder group blocked retail holding company Steinhoff International Holdings’ debt relief plan, the fraud-hit group has launched a Dutch Whoa restructuring plan that could see debt repayment dates extended for three years, leaving shareholders with nothing.
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