Parly could subpoena Steinhoff executives to hand over PwC report
The Public Investment Corporation on Tuesday told MPs it was taking legal action to compel Steinhoff to hand over the report.
CAPE TOWN - Steinhoff’s refusal to release the report of an in-depth investigation into what went wrong in the company has riled Parliament’s Standing Committee on Finance, which threatened on Tuesday to subpoena the retail conglomerate.
The Public Investment Corporation on Tuesday told the committee it was taking legal action to compel Steinhoff to hand over the report. The state-run asset manager said it wanted to pursue action against former Steinhoff directors, but needed the report by PricewaterhouseCoopers (PwC) to do so.
The committee was unhappy about the slow pace in recovering the billions lost in the Steinhoff scandal. It also took exception to Steinhoff’s apparent refusal to make the PwC report public.
Committee chairperson Joe Maswanganyi accused Steinhoff of “playing hide and seek” with the report.
“It is completely unacceptable. And if Steinhoff is beginning to play this kind of game where they don’t want the PIC report to be published, we will take them head-on as Parliament,” Maswanganyi said.
Eyewitness News understands that Steinhoff was keeping the report under wraps because it might compromise civil and criminal proceedings against those implicated, including former CEO Markus Jooste. But Maswanganyi was rattling the sabre of a subpoena.
“We’ll have to get this report, if we have to summon them even, as Parliament – we will do so. We can subpoena them,” he said.