An application has been filed in the Western Cape High Court for the liquidation of Steinhoff International Holdings, which if successful, could prejudice the complicated settlement process currently being considered by a Dutch court.

The urgent application has been brought by Bernard Mostert, former CEO of Tekkie Town, on behalf of the founder of Tekkie Town, Braam van Huyssteen, and other investors in that business.

Mostert & Co have been pursuing claims against Steinhoff for the return of Tekkie Town, now part of Pepkor, or for fair recompense since Steinhoff imploded in December 2017. The process is still under way and, despite both sides scoring body blows against one another, has not been resolved.

The liquidation application was brought precisely because the settlement process under way threatens to undermine the court process, Mostert says.

Full story: