Over the Air wrote: I'm pretty sure that this action has been taken because of financial institutions that have exposure to Steinhoff borrowings. Mayfair Speculators targeted so that they can have first bite at the cherry.
I recall jooste/mayfair perhaps had a property that they had bonded for 64 million in the cape - would that not be a reason to act as a bank as your risk of repayment is in doubt - I can't think that an institution would act against a Steinhoff director/ceo to recover money in his personal capacity as there are plenty assets in Steinhoff that can be sold and there is a far bigger fish - wiese - who could repay the debt easily - I would think any action against Mayfair would be on the grounds that they owe banks money for loans/bonds etc
Under his name, he owns two properties. One is a 92 432 square metre stand in the Val De Vie estate, which was bought in 2016 for R10.5m.
Val de Vie is an estate just outside Paarl and is described on their website as being in a valley dappled with vineyards, fruit trees and olive groves, with the Drakenstein and Simonsberg mountains as a backdrop.
“It’s favoured by many high-profile individuals and some of society’s elite, who choose to escape the bustle of the city, while remaining close enough for a daily commute into Cape Town.”
According to deed searches, the land was bonded twice for R46m and, then again, for R65m. Google Maps shows that it is a large piece of land that has not yet been developed.
Jooste has a number of properties under a Hermanus company name, with 25 of them that are listed in Cape Town, Calitzdorp, Hermanus and Jamestown worth more than R40m.
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