Claims still need to be verified by the Stichting Steinhoff Recovery Foundation
Investors who suffered losses due to the fraud that caused Steinhoff's share price to drop by more than 90% in 2017, and have submitted successful claims, will receive their payments from May 10.
Steinhoff lost about R200bn in market value when SA's biggest corporate fraud was revealed in early December 2017. They needed to have their claims verified by the Stichting Steinhoff Recovery Foundation which was set up to verify and pay claims. The share was worth R46.50 the day before the news broke that auditor Deloitte would not sign off on the company’s accounts.
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