Confidentiality key to ensuring prosecution is not jeopardised, says Steinhoff’s Sonn
Steinhoff CEO Louis du Preez has disclosed the eight names identified in the PwC forensic report as being involved in fictitious and irregular transactions amounting to about €6.5bn.
Steinhoff legal adviser Robert Driman said the refusal to disclose the names was based on European data and privacy protection laws that stipulated that the information could not be volunteered. However, Steinhoff would have to comply with an instruction of Parliament. She said that Steinhoff remained in precarious position and had to finalise its arrangement with creditors.
JSE CEO Nicky Newton-King informed the committee about the JSE’s bid to strengthen listing and regulatory requirements, a process that is still under way. Draft listing requirements will be released towards the end of the second quarter followed by a one-month consultation period on the proposals.
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