Tekkie Town founders fight to get the company back from Steinhoff

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Kabous le Roux

8 days ago
Tekkie Town founders fight to get the company back from Steinhoff

Steinhoff is facing a liquidation hearing that could threaten its survival.

On Friday, the court ruled that Tekkie Town’s liquidation case against Steinhoff may go ahead.



RELATED: The Germans have now charged Markus Jooste – Christo Wiese



Tekkie Town’s founders Bernard Mostert and Braam van Huyssteen claim Steinhoff acquired the company from them through fraud.

Mostert and Van Huyssteen say they were misled into swapping their Tekkie Town shares for stock in Steinhoff by its disgraced former CEO Markus Jooste.

The liquidation case starts on Tuesday.

The Money Show’s Bruce Whitfield interviewed Mostert (scroll up to listen).

Tomorrow, the show gets on the road, but there will undoubtedly be further attempts to delay it… inline with what we’ve seen from Steinhoff…

Bernard Mostert, cofounder - Tekkie Town

We exchanged our controlling share for shares in Steinhoff that we couldn’t trade… Like everybody else, we didn’t see this R106 billion hole in the accounts of Steinhoff…

Bernard Mostert, cofounder - Tekkie Town

The only people voting in favour of this settlement… are people who stand to gain mightily from it… people who don’t want to see the inside of a courtroom…

Bernard Mostert, cofounder - Tekkie Town

He [van Huyssteen] has said he has forgiven him. I have forgiven him. Markus has apologised to both of us…

Bernard Mostert, cofounder - Tekkie Town

We had two interviews with Dr Wiese… before our deal was approved… We weren’t paid for our business at all! … Our efforts to bring the PwC reports into the open… suggests we have nothing to hide…

Bernard Mostert, cofounder - Tekkie Town

This article first appeared on CapeTalk : Tekkie Town founders fight to get the company back from Steinhoff

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