Old Mutual has been locked in a dispute with Peter Moyo since it suspended him in May 2019, in relation to an alleged conflict of interest involving investment company NMT Capital.does not have to reinstate its sacked chief executive Peter Moyo, a shift in legal fortunes for the country’s No.2 insurer that pushed its shares up almost 4%.
The legal battle between the company and Moyo has been going on for six months. It has affected the group’s share price, with 17% wiped off and has caused shareholders to lose billions of rands.The written judgement on Tuesday said that the interim order temporarily reinstating Moyo should not have been granted in the first place.
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