File: Battered conglomerate Steinhoff to face legal action from the Public Investment Corporation.
CAPE TOWN - The PIC wants to force Steinhoff's hand.
It's preparing to file legal papers against Steinhoff to make it release a PricewaterhouseCoopers report that could shed light on what went wrong at the retail giant.
The PIC and the Government Employees Pension Fund have been trying to convince Parliament’s Finance Committee that they're doing everything in their power to deal with the Steinhoff debacle and to recoup the billions lost.
But Steinhoff is refusing to hand over this report, saying it could compromise civil and criminal proceedings against those implicated.
“We have issued a later of demand to Steinhoff about two weeks ago requesting this report " said Lindiwe Dlamini of PIC's legal services.
"We are in the process of launching an application to compel Steinhoff to release that report.”
The Chairperson of Parliament’s Portfolio Committee says Parliament is prepared to step in to get hold of the report as the public and beneficiaries have the right to know.