Regional news: South Africa

The Dutch parent of South African retail conglomerate Steinhoff has secured court approval to appoint partners from Houthoff and Mediation Kamer Amsterdam to act as observers in its recently announced WHOA restructuring.

06 April 2023

South African retail conglomerate Steinhoff is preparing for a possible Dutch WHOA process, after shareholders voted against a restructuring plan to extend looming debt maturities.

27 March 2023

US multinational The Boeing Company has failed in its attempt to appeal a disclosure order obtained by South African airline Comair in its Chapter 15, after a New York district court dismissed arguments that the order was “final” entitling Boeing to appeal as of right.

02 February 2023

Mauritius-registered telecoms group Smile Holdings has won sanction of its restructuring plan, after the English High Court found it had jurisdiction to alter the constitution and share capital of the company without the need for a parallel plan in its place of incorporation.

30 March 2022

African telecoms group Smile Telecoms has asked the High Court in London to sanction its second restructuring plan in a year, arguing the plan is likely to be effective in its key jurisdictions of Mauritius, Nigeria and South Africa.

10 March 2022

South African retail conglomerate Steinhoff can begin to finally make payments to investors that lost out when its share price collapsed in 2017, after a court in Cape Town sanctioned its former holding company’s scheme.

24 January 2022

Three weeks after an Amsterdam court confirmed its Dutch composition plan, retail conglomerate Steinhoff has revealed its contested South African scheme has been listed for a week-long sanction hearing in January – while it also faces uncertainty from a pending liquidation application.

15 October 2021

One of retail conglomerate Steinhoff’s largest creditors, which successfully claimed it breached South African law, has accepted a revised global settlement offer “in principle”, while the group has amended its South African scheme to block another disgruntled creditor from voting.

25 August 2021

Embattled South African conglomerate Steinhoff’s global settlement is in jeopardy, after a Cape Town court ruled that a key part of its plan is invalid.

05 July 2021

The administrators of shopping centre owner Intu have won an English court’s permission to make distributions to unsecured creditors – and to extend its administration for two years in the hope that assets in Spain, India and the UK may become more advantageous.

17 June 2021