DURBAN – Absa Bank has applied for the liquidation of Mayfair Speculators, a company belonging to former Steinhoff CEO, Markus Jooste.
The company, until this week, owned South Africa’s best racehorse and hundreds of other racehorses as well as a property portfolio and a portion of Steinhoff shares.
Racing is Jooste’s passion and he was a regular at racing sales. In September, Mayfield (in different partnerships) acquired nine yearlings at the yearly yearling sale in County Kildare in Ireland for a collective amount of 2.3 million
Absa has demanded a probe into a dubious transaction that saw Mayfair transfer R1,5 billion of assets to its holding company in August this past year.
This transfer took place just months before serious financia…
Read the full article at: https://www.iol.co.za/business-report/absa-applies-for-the-liquidation-of-joooste-linked-company-12502696