Absa want Jooste company liquidated

JOHANNESBURG – Absa Bank has applied for the liquidation of former Steinhoff CEO Markus Jooste’s Mayfair Speculators, the company that, until this week owned South Africa’s best racehorse, Legal Eagle, as well as hundreds of other racehorses, a property portfolio and a chunk of Steinhoff shares.

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Absa has also demanded an investigation into a suspicious transaction that saw Mayfair move R1.5 billion of assets to its holding company in August this year.

This was just months before significant financial irregularities hit the headlines, causing one of the largest ever corporate implosions in South Africa.

The liquidation hearing is due to be held on Friday, and Mayfair has not yet filed responding papers.