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Court decision on South Africa's Steinhoff probe expected by December 2017
November 20, 2017 / 4:14 PM / 22 days ago

Court decision on South Africa's Steinhoff probe expected by December 2017

JOHANNESBURG, Nov 20 (Reuters) - A court decision on whether to allow a probe into Steinhoff’s accounts is expected by no later than December this year, the South African group said on Monday.

German prosecutors in August said they were investigating current and former executives of Steinhoff, which is listed in Germany and Johannesburg, for suspected accounting fraud.

Steinhoff, which has denied any wrongdoing in allegations, said it had received a letter from the Enterprise Chamber of the Amsterdam Court of Appeal, saying it would give its decision by no later than December 22 this year.

The furniture retailer said the delay was “quite common” and did not signify any particular outcome.

“The company remains confident that the petition will be dismissed,” said Steinhoff in a statement. (Reporting by Tanisha Heiberg; Editing by James Macharia)

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